By Law Mefor President Bola Tinubu recently declared that he should be included in the Guinness Book of Records for having the guts to remove fuel subsidy on his first day in office—something that no other Nigerian president has ever done. Yes, he does deserve a spot like that, but sadly, it’s not for the…
Muhammadu Buhari, the former President of Nigeria, has explained the reason behind his decision not to sack Godwin Emefiele, the former Governor of the Central Bank of Nigeria, despite widespread speculations about Emefiele’s potential presidential candidacy in 2023. Buhari said that Emefiele never discussed it with him.This revelation and others were made public in a…
The long-awaited credit support seeks to ameliorate the acute FX shortage in the country which has constrained economic activities and doused investors’ confidence.Also earlier in December, President Bola Tinubu had assured Nigerians of the commitment of his administration to resolve the FX backlogs through the injection of funds into the market A statement by Afreximbank…
Operatives of the Economic and Financial Crimes Commission (EFCC) are currently at the Lagos head office of the Dangote Group. They are conducting a search on forex allocations to the company during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN). Dele Oyewale, the EFCC spokesman, declined comments when contacted…
The President Bola Tinubu-led Nigerian government has stated that the immediate past Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, would have been killed by a firing squad if it happened that he was living in China. This was stated by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga while reacting…
The Central Bank of Nigeria (CBN) has stated that Nigerians aspiring to secure admission to foreign universities spent about $340.84 million on application fees between January and June 2023. The figure marked a notable fall of 44.28 percent when compared to the previous quarter. According to the data, which detailed records on expenditure for educational…
We have sold forward FX contracts so some of our future FX earnings are encumbered. Essentially, some of the FX we are yet to earn does not belong to us. Under the infrastructure tax credit scheme, some of our major company income tax payers were awarded roads to either rehabilitate or construct and are entitled…
By Ogaga Ariemu President Bola Tinubu has appointed Dr Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN) Cardoso is to serve a term of five years in the first instance, pending his confirmation by the Nigerian Senate. Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed…
A South African businessman, Johann Rupert, has displaced Nigerian billionaire and founder of the Dangote Group, Aliko Dangote as Africa’s richest man as a result of the depreciation of the Naira. Rupert currently boasts a $12 billion net worth according to Forbes Magazine in its Real-time global Billionaires Ranking while Dangote’s net worth is put…
In a statement released by its spokesperson, Obiorah Ifo, the party called on President Bola Tinubu to investigate the Independent National Electoral Commission (INEC) and not the apex bank. The party argued that Emefiele’s suspension was unconstitutional and in a way punitive. “It is laughable to read that statement as most Nigerians are already aware…
