Nigeria Archives - Page 11 of 16

EFCC Discloses Illegal Currencies Transactions

The Economic and Financial Crimes Commission (EFCC) revealed, as it discloses certain foreign missions operating in Nigeria, who are dealing in illegal transaction of foreign currencies, by employing intermediaries to conduct an...

Nigeria’s Inflation Climbs to 33.69% in April 2024: NBS Report

According to the National Bureau of Statistics, Nigeria’s headline inflation rate rose to 33.69 percent in April 2024, up from 33.20 percent in March of the same year. This signifies a month-over-month...

Nigeria’s Economic Reforms, a Potential Increase in Borrowing

The government might need to raise domestic and external borrowing ceilings to avoid fresh borrowings from the apex bank’s Ways and Means, as highlighted by recent Nigeria’s economic reforms. The ongoing issue...

Nigerians Explore Solar Energy Amidst Soaring Electricity Tariffs

Due to the exorbitant electricity tariff hike, Nigerians now explore the viability of solar energy. Band A customers, faced with exorbitant electricity costs, are increasingly considering solar energy as a viable alternative....

Tinubu Directs Suspension of CBN’s Cybersecurity Levy

President Bola Tinubu intervening in the ongoing controversy surrounding Nigeria’s cybersecurity levy policy, directs the suspension of levy. This move follows mounting pressure from the House of Representatives, which recently called for...

EFCC, UK to Prosecute Diezani

Over the weekend, indications emerged that the Economic and Financial Crimes Commission (EFCC) plans to collaborate with UK to prosecute former Petroleum Minister, Diezani Alison-Madueke, in a UK court. The Nation reported...

IMF Warns Nigeria Against Implicit Fuel and Electricity Subsidies

The International Monetary Fund (IMF) warns the government of Nigeria regarding the continuation of implicit fuel and electricity subsidies. The IMF’s report underscored the negative impact of subsidies, projecting them to reach...

$2.25 Billion World Bank Loan to be Secured by FG

Close to Securing Funding The Nigerian government is on the brink of securing a substantial $2.25 billion loan package from the World Bank. Approval for this funding, expected by June 13, 2024,...

“Transactions in Naira Only”- EFCC to Foreign Missions in Nigeria

EFCC’s Directive to Foreign Missions The EFCC, in a recent directive, instructed foreign missions in Nigeria to cease using foreign currencies and solely adopt the Naira for financial transactions. This move aims...

Fuel Scarcity will be Resolved- Senate Leader

During the Oil Technology Conference in Houston, Texas, Senate Leader Opeyemi Bamidele assured that fuel scarcity will be resolved. Bamidele expressed confidence in implementing legislative measures to address the issue. Bamidele clarified...

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Tag: Nigeria