Economy

The Federal Executive Council (FEC) has approved the 2024 appropriation bill of N27.50 trillion for the 2024 budget with a N1.5 trillion increase from the earlier estimated bill. The government had proposed N26.2 trillion earlier but had reviewed the Medium Term Expenditure Framework (MTEF) that was approved by the National…

The Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Navy have inaugurated a Committee to establish ways in which the synergy between both organs of government can be channeled into creating a welcoming environment for investment in the Blue Economy. The Flag Officer Commanding (FOC West), Rear Admiral…

The Central Bank of Nigeria (CBN) on Tuesday announced that the Old Naira Notes will continue to used as Legal Tender indefinitely. The Apex Bank which disclosed this in a statement by the Director of Corporate Communications, Dr Isa AbdulMumin, recalled that it introduced the redesign of N200, N500 and…

The Central Bank of Nigeria (CBN) has reacted to reports of a scarcity of cash across some major cities in the country despite its assurances of sufficient cash stocks in all locations. The bank in a statement signed by Isa AbdulMumin, Director, Corporate Communications on Wednesday said, “There have also…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated that under his leadership, the Bank will focus mainly on the core mandate of price stability.   He disclosed this on Thursday, November 2, 2023, while playing host to the Impact Investing Community, led by the…

The Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil  Halilu has said his vision or direction for the Agency’s products and technologies is to make them available in every household in Nigeria in the next few years. Nonetheless, Halilu disclosed in Abuja today…

Concisedaily- The Central Bank of Nigeria (CBN) has debunked claims of scarcity of cash at the banks, Automated Teller Machines (ATMS) Point of Sales ( POS) and Bureaux de Change in some major cities across the country.   In a statement by the Director of Corporate Communications, Dr Isa AbdulMumin,…

As part of efforts to explore the newest technologies in Biofouling and in compliance to International Maritime Organization (IMO) rules, the Nigerian Maritime Administration and Safety Agency (NIMASA) is hosting a 3-day Biofouling Management Training for coastal states within the African continent. Speaking at the opening session on Monday, the…

The Central Bank of Nigeria (CBN) has reacted to the wide circulation of a text message suggesting that the Bank plans to redenominate the country’s legal tender, the Naira, with effect from January 2024, saying the message was misleading A statement signed by Isa AbdulMumin PhD, Director, Corporate Communications said, “We…

The Federation Account Allocation Committee (FAAC), shared a total sum of N903.480 billion to the three tiers of government as Federation Allocation for the month of September, 2023. The meeting was chaired by the Minister of Finance and Co-ordinating minister of the Economy, Mr. Wale Edun. From the stated amount…