A significant number of staff members at Elon Musk’s Department of Government Efficiency (DOGE) have resigned in protest, citing their refusal to implement changes they believe could jeopardize the nation’s well-being. In a letter addressed to White House Chief of Staff Susan Wiles, 21 former DOGE employees expressed that their commitment to serve the American …
Business Investors lost N215bn as Nigeria’s NGX continues bearish run
Nigeria’s equity market extended its downward trend on Tuesday, as the market capitalisation of listed equities recorded N215 billion or 0.32 percent losses. This is the case as the market capitalisation, which opened at N67.383 trillion, closed at N67.168 trillion. The All-Share Index also declined by 0.32 percent to 107,781.79, against 108,126.97 recorded on Monday. …
Cardoso says CBN targeting single-digit inflation rate, says current inflation has been ‘high for too long’
The Central Bank of Nigeria (CBN) aims to bring inflation down to single digits in the medium to long term, according to the governor, Olayemi Cardoso. Speaking in Abuja after the 299th Monetary Policy Committee (MPC) meeting, Cardoso addressed the recent rebasing of the Consumer Price Index (CPI), which lowered Nigeria’s inflation rate from 34.8 …
Legal action has been taken against people spreading misinformation about NNPC – Mele Kyari
Mele Kyari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, has said legal and security measures have been taken against individuals spreading misinformation about the company. Nigerian home decor ideas Recently, a video posted on TikTok showed a man using two small tiger generators, popularly called ‘I better pass my …
CBN orders banks to publish details of dormant accounts, unclaimed balances
The Central Bank of Nigeria (CBN) has instructed all banks and financial institutions to publish details of dormant accounts, unclaimed balances, and other financial assets on their official websites. According to CBN, a dormant account refers to a bank account that has remained inactive for at least one year. The directive was outlined in a …
$23bn refinery biggest risk of my life. If it didn’t work, I was dead – Dangote
Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the “biggest risk” of his life, acknowledging the challenges he faced in bringing the venture to fruition. In an exclusive interview with Forbes on Monday, February 17, Dangote opened up about the risks involved in such a massive undertaking. “It was the biggest …
Mexico to sue Google if it insists on ‘Gulf of America’
Mexico has warned that it will take Google to court if the company insists on renaming the Gulf of Mexico as the “Gulf of America” for Maps users in the United States, President Claudia Sheinbaum said on Monday, February 17. Sheinbaum stated that her government had sent another letter to the US tech giant, arguing …
Court restrains CBN and others from withholding Kano LG allocation
A Kano State High Court has issued an order of perpetual injunction restraining the Central Bank of Nigeria (CBN) from withholding funds from the Federation Account to the 44 Local Governments in the state. The ruling, delivered on Monday, followed a motion filed by the applicants, including the Chairman of NULGE, Ibrahim Muhd, alongside Ibrahim …
MV Great Cotonou Begins Direct Shanghai-Lagos Shipping Service
The MV Great Cotonou, the first container-roll-on/roll-off (Con-Ro) vessel offering a direct shipping service from Shanghai to Lagos, berthed at the PTML Terminal on Tuesday. Operated by global shipping giant Grimaldi Group, the vessel reduces transit time to just 27 days, eliminating the need for transshipment at intermediary ports. This new route allows Nigerian traders …