By David Oluwatosin Former Central Bank of Nigeria (CBN) Governor and Emir of Kano, Muhammadu Sanusi II, has said President Bola Tinubu’s macroeconomic policies have rescued Nigeria from the brink of economic collapse, citing improvements in economic growth, inflation, foreign reserves and per capita income. Sanusi, however, faulted the administration’s communication strategy, arguing that its…
By Seun Ibiyemi The Nigeria Customs Service (NCS), Federal Operations Unit (FOU), Zone A, Ikeja, has intercepted prohibited goods, including 3,407.83kg of cannabis, cocaine and methamphetamine, with a combined duty-paid value of N6.19bn in four weeks. The seizures were made during 195 interception operations conducted under the unit’s renewed enforcement strategy. The Acting Customs Area…
By Seun Ibiyemi The House of Representatives has resolved to summon the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over alleged breaches of pension agreements and failure to pay outstanding retirement benefits to former employees of the apex bank. The resolution followed the adoption of a motion during plenary on Tuesday, November…
By Seun Ibiyemi The Debt Management Office (DMO) has increased the interest rate on its three-year Federal Government of Nigeria (FGN) Savings Bond to 14.25 per cent per annum in its November 2026 offer, providing retail investors with higher returns on government-backed securities. The new rate represents an increase from the 14.071 per cent offered…
The Pension Transitional Arrangement Directorate (PTAD) has disbursed N13.87 billion in pension increment arrears to 18,822 pensioners under the Defined Benefit Scheme (DBS). The payment covers arrears arising from the 13.8 per cent and 20.55 per cent pension increments approved for eligible retirees under the Federal Government’s pension transition arrangements. PTAD disclosed this in a…
By Seun Ibiyemi President Bola Tinubu has defended Nigeria’s new borrowing from international financial institutions and banks, arguing that loans should be assessed based on the infrastructure they deliver and the economic value they create. The President, in an essay titled “From Reforms to Delivery: Our Infrastructure Investment and Growth Strategy,” said the focus should…
By Seun Ibiyemi President Bola Tinubu has asked the Senate to approve a supplementary external borrowing plan of $20.52 billion and €1.045 billion to finance infrastructure and development projects across critical sectors of the Nigerian economy. The request, conveyed in a letter read by Senate President Godswill Akpabio during plenary on Tuesday, covers the Federal…
By Seun Ibiyemi President Bola Ahmed Tinubu has said his administration’s economic reforms are beginning to reshape Nigeria’s economic outlook, promising to dismantle structural barriers, attract investment, create jobs and deliver shared prosperity. Tinubu spoke on Monday through Vice-President Kashim Shettima, who represented him at the formal opening of the 32nd Nigerian Economic Summit in…
By Seun Ibiyemi The Nigeria Customs Service says its newly acquired inspection scanners and electronic cargo tracking technology will help reduce physical cargo checks, minimise diversion, improve revenue collection and strengthen border security. The Nigeria Customs Service (NCS) and Trade Modernisation Project Limited (TMPL) have completed a two-week Factory Acceptance Test (FAT) for newly acquired…
By David Oluwatosin The Federal Government has approved an additional ₦4.04 billion for the payment of outstanding severance benefits to 600 former employees of the liquidated Nigeria Airways Limited. The latest disbursement, covering batches 010 and 011, is part of the government’s ongoing effort to settle outstanding entitlements owed to former workers of the defunct…
