Naira bounces back, appreciates against dollar at foreign exchange market
The Nigerian currency, naira, saw a positive turn as it gained value against the US dollar in the official foreign exchange market on Thursday. According to the Central Bank of Nigeria, the naira’s exchange rate improved to N1586.15 per dollar on Thursday, compared to N1590.74 recorded on Wednesday. This means the naira went up by […]
Nigerian economy stabilising — CBN Governor, Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that Nigeria’s economy is now showing signs of stability. He spoke about this at a press conference held after the CBN’s 300th Monetary Policy Committee meeting on Tuesday. According to him, investors have shown more trust in Nigeria’s economy over the past […]
Labour to demand cost of living allowance for Nigerian workers
The Nigeria Labour Congress (NLC) is preparing for a new campaign to demand a cost of living allowance for Nigerian workers. This move comes as many Nigerians continue to struggle with rising living costs. Speaking in an interview with Vanguard, NLC President Joe Ajaero expressed deep concern over the severe economic hardship affecting Nigerians since […]
75.5 per cent rural Nigerians living below poverty line – World Bank
The World Bank has revealed that around 75.5% of rural Nigerians are currently living below the poverty line, showing a worsening of the economic conditions in the country’s rural areas. This information was shared in the World Bank’s April 2025 Poverty and Equity Brief for Nigeria, which paints a bleak picture of growing poverty, inequality, […]
CBN’s Gold Reserves Gain Over N1 Trillion In 2024 As Prices Hit Record Levels
The Central Bank of Nigeria (CBN) reported a significant rise in its gold reserves in 2024. By the end of December 2024, the value of its gold holdings reached N2.77 trillion, up from N1.28 trillion at the close of 2023. This growth was primarily due to a sharp increase in global gold prices. While the […]
Congressman lists five promises Trump failed to fulfill after hundred days in office
After President Donald Trump completed his first 100 days in office, U.S. Congressman Seth Moulton shared a video online listing five promises Trump hasn’t kept. He said the president made many promises during his campaign, but most of them haven’t happened. In his video, Moulton said, “Mr. President, you are a hundred days in. You […]
Nine Nigerian banks generates N14tn in revenue from customers’ interest in 2024
In 2024, nine big Nigerian banks made a total of N14.26 trillion from interest charged to customers. This is more than double what they made in 2023, which was N6.49 trillion. This big jump came mostly because of higher interest rates set by the Central Bank of Nigeria (CBN). These banks include Access Holdings, Zenith […]
Nigeria’s Economic Outlook Marked By Significant Uncertainty – IMF
The International Monetary Fund (IMF) has said that Nigeria’s economy is still facing a lot of uncertainty, even though the country has made some important reforms. After meeting with top Nigerian officials for their 2025 Article IV Consultations, the IMF team, led by Axel Schimmelpfennig, praised Nigeria for trying to fix its economy. They said […]
We are not afraid – Xi Jinping says as China Raises Tariffs on U.S goods to 125% as Tit-For-Tat Trade War Escalates
The trade war between China and the U.S. is getting even more serious. On April 11, China announced it will raise taxes on American goods from an average of 84% to a massive 125%. This is China’s strongest move yet in response to U.S. tariffs. President Xi Jinping said during a meeting with Spain’s Prime […]
US tariffs: Stop playing politics, cut interest rate – Trump to Fed Reserve Chairman
Former U.S. President Donald Trump is asking Federal Reserve Chairman Jerome Powell to cut interest rates. He believes now is the perfect time to make the move and says Powell should stop playing politics. Trump made the statement on his social media platform, Truth. He criticized Powell for usually being late in making decisions but […]