Naira Swap Policy May Affect Q1 2023 GDP By 5% – Rewane
An economic expert, Bismarck Rewane, on Friday, projected a three-to-five-percent drop in the gross domestic product (GDP) of Q1 2023 as a direct result of the naira swap policy of…
BudgIT Launches FG Budget Dashboard; Gives Citizens Access to Disaggregated Budget Data
BudgIT, a leading public data organisation focused on raising active citizens and civic leaders to improve governance by bridging the information gap between the government and citizens, has launched its…
Pension: 34,283 RSA Holders Initiate Transfer In 2022 Q4, Move N131.7 bn
The National Pension Commission (PenCom) has disclosed that 34,283 Retirement Savings Accounts holders initiated RSA transfer from one PFA to another in the 4th quarter of 2022. The RSA holders…
FG Recovers £6.3m, €5.4m, $390m, N1.8bn Looted Assets
The federal government, under the Muhammadu Buhari administration, said that it recovered £ million, € million, and $390 million of its assets stowed by corrupt government officials in foreign nests.…
The National Domestic Card Scheme to become Effective Today
The Central Bank of Nigeria recently announced the launch of the National Domestic Card Scheme (NDCS) which is scheduled to become effective today, 16 January 2023. The NDCS is a…
Rewane Predicts Exchange Rate Adjustment, Naira at N680/$1
The chief executive officer (CEO) of Financial Derivative Company (FDC), Mr Bismarck Rewane, has said that amid an improved economy in 2023, Nigeria will see a positive change in its…
Nigeria’s Foreign Reserves Drop By $3.43bn In 2022
Nigeria's foreign reserves has fell by per cent to $ billion in 2022 according to data from the Central Bank of Nigeria (CBN). The CBN disclosed this in its movement…
Buhari signs N21.83tn 2023 Budget
President Muhammadu Buhari on Tuesday signed the 2023 Budget of along with the 2022 Supplementary Appropriation Bill into law. Buhari signed the 2023 transition budget at the Council Chambers of…
CBN increases interest rate to 16.5% to tame inflation
The Central Bank of Nigeria has raised its benchmark lending rate to per cent in a sustained push to control inflation and ease pressure on the naira. Godwin Emefiele, governor…
Nigeria’s Inflation Hits 20.77 Percent, Highest Since 2005
Nigeria’s inflation rate has surged for the eight consecutive month, hitting a fresh 17-year-high amid rising food and energy costs, and the continued depreciation of the naira. According to data…