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Nigeria President Tinubu Set for Cabinet Reshuffle Ahead of October 1 Deadline
President Bola Tinubu is set to reshuffle his cabinet, according to Bayo Onanuga, Special Adviser on Information and Strategy. While no specific date has been announced, changes may occur before October 1st. The President urges ministers to better communicate their achievements to improve public... -
Nigeria CBN’s 27.25% Interest Rate Hike: How It Affects Inflation, SMEs, and the Naira
Nigeria's recent interest rate hike to 27.25% aims to curb inflation and stabilize the naira but poses challenges for businesses. The increased borrowing costs could reduce expansion and raise unemployment. Meanwhile, FX inflows may rise, stabilizing the naira, and savers benefit from higher... -
Nigeria Nigerian Anglican Leaders Slam Politicians, Including Tinubu, Over Widespread Corruption and Economic Hardship
The Anglican Church of Nigeria condemned corruption among political leaders, criticizing insensitive government policies causing severe hardship for citizens. In a recent meeting, church leaders expressed solidarity with protests against bad governance and called for a comprehensive...
Anambra's Commissioner for Youths Development, Hon. Patrick Aghamba, and his wife were kidnapped while traveling to Abuja. Tragically, their aide, Mr. ABK Offiah, was killed during the incident. They were en route to attend Governor Prof. Chukwuma Soludo’s daughter's wedding.
Hon. Patrick...
Zhongshan Fucheng Industrial Investment Co. Limited has released one of three Nigerian presidential jets seized due to a legal dispute over a revoked contract. The release allows President Tinubu to attend a scheduled meeting with French President Macron. Negotiations between Zhongshan and...
Chidimma Adetshina, a Nigerian-South African model, has joined the Miss Universe Nigeria pageant, representing Taraba State. After withdrawing from Miss South Africa due to xenophobic threats, Adetshina accepted the invitation to compete in Nigeria. Born to a Nigerian father and a Mozambican...
![Today's Naira Rate[16-08-2024]: Black Market Dollar to Naira Rate Climbs to ₦1,600 Amid Inflation Decrease](/data/attachments/207/207292-9bb9b64b1602cfa4be828e7b4b5a0479.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[16-08-2024]: Black Market Dollar to Naira Rate Climbs to ₦1,600 Amid Inflation Decrease
As of August 16, 2024, the black market exchange rate for the U.S. dollar to the Nigerian naira stands at ₦1,596 for buying and ₦1,600 for selling. Meanwhile, Nigeria’s inflation rate dropped to 33.4% in July 2024, marking the first decrease in 19 months, indicating economic shifts.
As of...
Minister of Aviation, Festus Keyamo, reassures aviation workers that their concerns over the 50% revenue deduction policy will be addressed. Responding to the workers' strike threats, Keyamo emphasizes the government's commitment to ensuring the sector's sustainability while balancing fiscal...
A Lagos Federal High Court has ordered the interim forfeiture of $2.04 million and seven properties linked to former CBN Governor Godwin Emefiele. The EFCC alleges the assets were acquired through fraudulent activities. The ruling aims to prevent asset dissipation as Emefiele faces multiple...
The Athletics Federation of Nigeria (AFN) addresses rumors of sprinter Favour Ofili potentially switching national allegiance. Tensions rose after her name was omitted from the Paris 2024 Olympics roster, leading to speculation about her future with Nigeria. The AFN highlights the challenges and...
BBNaija contestant Chinwe has caused a stir after revealing she's feeling nauseous and her period is late. Her playful plea, “GOD abeg o,” has led to widespread speculation and amusement among fans about a potential pregnancy. Social media is abuzz with jokes and reactions about a possible “Big...
Gunmen abducted 20 medical and dental students from the University of Maiduguri and the University of Jos in Benue State while they were traveling to an annual convention in Enugu. The police are investigating the incident, part of a troubling rise in kidnappings across Nigeria.
In a...
Nigeria has lost its sovereign immunity claim in a US court, which upheld a $70 million arbitration award in favor of Chinese firm Zhongshan Fucheng. The court ruled the award enforceable under the New York Convention, despite Nigeria's arguments of state immunity. This follows similar outcomes...
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