By Joke Kujenya A SERIES of economic measures were announced President Bola Tinubu on Thursday aimed at stabilizing the economy, creating jobs, and ensuring economic security. He introduced these initiatives at the inauguration of the Presidential Economic Coordination Council (PECC), which will run alongside the recently launched National Con...
By Joke Kujenya A SIGNIFICANT improvement has been announced in the country’s economic indicators, revealing a 15% reduction in total debt stock in US dollar terms for the first quarter of 2024. The announcement came via the Finance Minister, Wale Edun, after a Federal Executive Council (FEC) meeting presided over by President Bola Tinub...
By Joke Kujenya FURTHER INSIGHTS have been provided on Nigeria’s public debt which surged from N97.34 trillion in December 2023 to N121.67 trillion in March 2024 as elucidated by Patience Oniha, the Director-General of the Debt Management Office (DMO). Speaking on the need to shed more light and attributing this increase largely to exchange ra...
By Jemimah Wellington, JKNMedia Reporter A SERIES of strategic initiatives aimed at creating an investment-friendly environment has been designed to lure back production factories and stimulate economic growth as revealed by Rivers State Governor Siminalayi Fubara. Speaking on Wednesday at the Rivers State Economic and Investment Summit (RSEIS...
By Bolanle BOLAWOLE ONCE IN awhile I visit the newsstand to feel the pulse of the people. The People’sParliament is what some call it.  When I gotthere last Thursday, I met them discussing the Ebora Owu.  “Don’t mindBaba. Age is telling on him. We tried the parliamentary system; we tried themilitary; we tried […]
By Joke Kujenya THE GOVERNOR of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has indicated the institution’s commitment to maintaining high interest rates until inflation recedes, relying on orthodox policies to achieve this goal. In an interview with the Financial Times, Cardoso, who chairs the Monetary Policy Committee (MPC), em...
By Joke Kujenya THE Central Bank of Nigeria (CBN) has directed all the banks operating within the country to impose a cybersecurity levy on transactions. In a circular released on Monday, May 7, the apex bank stated that the implementation on the levy would begin two weeks from the date of the circular. The circular […]
By Blessing Obam, JKNMedia Reporter ALL Point-of-Sale (PoS) operators in the country have been mandated to register their businesses with Corporate Affairs Commission (CAC) within a two-month period. This directive was handed down by the Central Bank of Nigeria (CBN) and came following a meeting between Fintechs and the Registrar-General/Chief...
By Jemimah Wellington, JKNMedia Reporter THE Nigerian Exchange Limited (NGX) made waves in July 2023 when it announced the reclassification of Fidelity Bank Plc from a small-price stock to a medium-price stock. This move stirred the interest of financial analysts who speculated that the bank’s path to Tier 1 status might be closer than anticip...
By Joke Kujenya THE latest findings from the March 2024 edition of the National Bureau of Statistics Selected Food Price Watch have revealed staggering increases in the prices of essential food items across Nigeria. According to the report, the average price of 1kg of locally sold loose rice surged to N1,349.74, marking a significant 152.93% [...
