The Central Bank of Nigeria (CBN) has reaffirmed its dedication to controlling the nation’s inflation rate, which it described as “unacceptably high.” This was highlighted by the CBN Governor, Olayemi Cardoso, during the 2024 Annual Bankers’ Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. According to the latest report from…
The arraignment of former Kogi State Governor, Yahaya Bello, on allegations of laundering N80.2 billion was delayed on Friday at the Federal High Court, Abuja, due to the absence of his legal team. The Economic and Financial Crimes Commission (EFCC) had filed a 19-count charge against Bello, accusing him of money laundering and mismanagement of…
The Nigeria Labour Congress (NLC) has announced plans to commence a strike on Monday, December 1, in Katsina, Cross River, and Zamfara states over their failure to implement the new national minimum wage of N70,000. This action comes despite 33 states and the Federal Capital Territory (FCT) already complying with the 2024 National Minimum Wage…
The Nigerian Communications Commission (NCC) has confirmed plans to unveil new tariff plans for the telecommunications industry by December 13, 2024. This update was disclosed by the NCC’s Executive Vice Chairman, Dr. Maida Waida, during an interactive session in Abuja. Represented by the Director of Public Affairs, Reuben Muoka, Dr. Waida explained that the revised…
The Nigerian Senate has advanced four major tax reform bills to the next legislative stage by passing them for a second reading on Thursday. The proposed legislation seeks to streamline tax administration, establish key institutions, and update existing tax laws. The bills, which include the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria…
The Edo State Vehicle Recovery Committee has successfully retrieved 30 government-owned vehicles from officials of the previous administration led by former Governor Godwin Obaseki. In a statement released on Thursday, Fred Itua, Chief Press Secretary to the Governor of Edo State, confirmed the recoveries, highlighting the committee’s dedication to reclaiming state assets. According to Kelly…
SaharaReporters has uncovered that the Port Harcourt Refinery in Rivers State, recently announced as operational, is not the newer facility built in 1989 with a capacity of 150,000 barrels per day. Instead, the Nigeria National Petroleum Company Limited (NNPCL) has resumed operations at the older refinery, constructed in 1965, which produces only diesel and has…
Former Kogi State Governor, Yahaya Bello, who held office from 2016 to 2023, appeared at the Economic and Financial Crimes Commission (EFCC) office on Tuesday amid allegations of financial impropriety, including the mismanagement of state funds, embezzlement, and abuse of office. Sources report that Bello arrived at the EFCC headquarters in a black Toyota Hilux,…
Residents of South-East Nigeria continued to observe the sit-at-home protest on Monday, despite the recent arrest of Simon Ekpa, a self-proclaimed Biafran leader, by Finnish authorities. Economic and social activities across the region were significantly disrupted, with schools, markets, and other businesses remaining closed. The sit-at-home protest, originally initiated by the Indigenous People of Biafra…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has defended the need for additional borrowing to fund the federal budget, even as the country’s public debt exceeds N134 trillion. Edun made the statement during an interactive session with the Senate Joint Committees on Finance, National Planning, and Economic Affairs, focused on…
