Minimum Wage

Does Buhari’s new minimum wage approval mean “Nigeria is broke”?

After months of eager anticipation, hopes were not entirely dashed after President Muhammadu Buhari has finally approved the immediate implementation of N30,000 new minimum wage to lowest cadre workers. 
President Muhammadu Buhari, new minimum wage

FG’s new minimum wage implementation does not apply to everyone

President Muhammadu Buhari has ordered the immediate implementation of the N30,000 new minimum wage, but it is not for everyone.
Banks, CBN, LDR, CRC Credit Bureau

Banks are relying on credit bureau to comply with CBN’s new directive

Banks are relying on credit bureau operators to comply with CBN's 60 per cent Loan to Deposit Ratio (LDR) policy. This is according to CRC Credit Bureau.
Jim Ovia, Godwin Emefiele

Jim Ovia urges Emefiele to create the enabling environment that will empower the Nigerian...

Jim Ovia has called on the @centbank Governor, Godwin Emefiele to create the enabling environment to help empower and blossom the Nigerian youths.
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case, Why telcos should double $70 billion investments – NCC, Nigerian Communications Commission

FG receives N51 billion remittance from NCC in 3 months

@NgComCommission has announced that it remitted the sum of N51.3 billion to the Federal Government as part of the revenue generated in the first quarter of 2019.
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case

Nigeria ranks 7th country with highest number of internet users in the world

Nigeria's evolving internet market has just hit another milestone, as the latest statistics released by the Internet World Stats revealed that the country now ranks 7th in terms of countries with the highest number of internet users in the world.
NNPC

34 firms get NNPC’s crude-oil-for refined fuel swap contract

The Nigerian National Petroleum Corporation (NNPC), has contracted about 34 companies to carry out its crude oil for refined fuel exchange deal.
Nigeria's inflation rate

Although Nigeria’s inflation “dropped” in June, Nigerians aren’t just feeling it

As Nairametrics reported yesterday, released yesterday by the National Bureau of Statistics (NBS) released its consumer price index which revealed that Nigeria's inflation rate dropped to 11.22% last month.
Godwin Emefiele, LDR, CBN, DMBs, Loan to Deposit Ratio

Alert: CBN to hold MPC meeting next week

The Central Bank of Nigeria [@cenbank] highest monetary policy decision making - Monetary Policy Committee (MPC), is set to reconvene next week for its periodic meeting. The notice of the meeting was just released by the apex bank on its website.
Minimum wage

Trade union mulls industrial action over delayed implementation of the new minimum wage

According to local reports, the newly elected President of the Trade Union Congress (TUC), Quadri Olaleye, disclosed that the union would issue an ultimatum for an industrial action if the Federal Government continued to delay the implementation of new N30, 000 minimum wage.

Why CBN may sanction some banks over new lending policy

Not less than seven banks, including Guarantee Trust Bank (GTB) and Zenith Bank, are currently under pressure over CBN's new lending policy.
Nigeria's inflation rate

Nigeria’s inflation rate drops to 11.22%, slowest in 11 months

Nigeria’s consumer price index, which measures inflation, rose to 11.22% in June 2019.
Crude Oil Prices

Oil Prices slide as China posts slowest growth in 27-years

Oil prices slide on Monday after China's economy recorded the slowest quarterly growth in almost three decades. Earlier on Monday, it was revealed that China's economy grew 6.2% for the second half of 2019, but inches down by 0.2% when compared to 6.4% ..
SEC, unclaimed dividends

SEC moves against ‘huge quantum’ of unclaimed dividends

In a bid to reduce the 'huge quantum of unclaimed dividends' in the capital market, SEC has disclosed plans to work with relevant stakeholders.
2nd Niger Bridge, Suicide on Third Mainland Bridge

FG wants to increase cost of Niger Bridge to avoid people jumping off to...

The rate of suicide in Nigeria is becoming alarming and the menace is set to rip into the purse of the Federal Government, as President Muhammadu Buhari's administration is being compelled to reconsider the design of the 2nd Niger Bridge.
President Buhari Inaugurates National Economic Council, National Economic Council

State Governors parted with N33.9 billion to external debt deductions

While Nigeria’s debt profile hits a new high of N24.9 trillion in March 2019, state governors have parted with the sum of N33.9 billion referred to as external debt deductions in just one year.
textile, CBN

2 million jobs available for Nigerians in the textile industry – CBN

Not less than 2 million jobs are up for Nigerians if the country's textile industry is well harnessed. This is according to @cenbank
President Buhari interview, President Buhari signs 2019 budget, President Buhari scores Saraki and Dogara low, Ajaokuta Steel bill, President Buhari congratulate First Bank, First Bank 125 years Anniversary, minimum wage, VAIDS, VOARS, Muhammadu Buhari

Ministerial list: Senate President denies claim as Buhari fights pressure

The Senate President, Ahmed Lawan has reacted to a claim he reportedly made on the Ministerial list after President Muhammadu Buhari's response regarding time-frame for cabinet names at the dinner between National Assembly and the executive.
Nigeria's recession period, Buhari Ministerial list, Buhari ask for more time, Nigeria's economy - growth

Economy on standstill as President Buhari delays ministerial appointments again

In 2015, President Muhammadu Buhari took four whole months to appoint his Ministers. That was the longest time-frame it took a Nigerian President to release his cabinet team since 1999.
2019 Global Multidimensional Poverty Index, Poor Nigerians, MPI

The number of poor Nigerians increased by 13.9% in 10 years – UNDP

'Multi dimensionally poor' Nigerians have increased from 86 million to 98 million between 2007 and 2010, representing 13.9 per cent increase in 10 years.
DMO, External debt servicing

FG spent highest on commercial loans in servicing external debt in Q1 2019

According to data obtained from DMO, commercial loans gulps 58.99% of the $357.26m the Federal Government spent on debt servicing in 2019 Q1.
Transmission Company of Nigeria

Nigeria’s power company secures $1.6 billion to boost power sector

The Transmission Company of Nigeria (TCN), has confirmed that it received about $1.661 billion worth of investments from unnamed international donors to boost power supply in Nigeria.
Minister of Finance Zainab Ahmed, OAGF, TSA

Federal Government records N10trn from TSA implementation – OAGF

The Account General of the Federation (OAGF), has disclosed that the Federal Government has received N10trn since TSA implementation.
List of President Buhari's cabinet, President Buhari appoints cabinet members, President Buhari's Cabinet appointment, Ministries Departments and Agencies of Nigeria, 2019 Budget, Process and Industrial Developments Limited, London Arbitration Tribunal, Federal Government

History repeating itself as President Buhari grounds work on capital projects

Works on capital projects by the Ministries, Departments and Agencies has continued to remain grounded two months after the 2019 Budget was signed into law. The MDAs are currently in a capital dilemma that is affecting implementation of their projects.
NNPC

Despite NNPC’s denial, a new fuel price regime appears imminent

[@NNPCgroup] dismissed reports that a new Petrol (Premium Motor Spirit) pump price is on the line.
Sniper

Sniper makers should be worried about NAFDAC’s “ban” on the product 

@NafdacAgency has banned the sale of Sniper (a well-known insecticide) and other agrochemical formulations in supermarkets and open shops.
AfCFTA

This decades-old challenge will deprive Nigerian businesses AfCFTA’s benefits

With all the benefit the African Continental Free Trade Agreement (AfCFTA) have in store for the continent, Nigeria might just lose out on them all due to a decades-old problem that continues to pose as a stumbling block. That problem is the epileptic power supply in the country.
Standing Deposit Facility

Our view on CBN’s revision of SDF guidelines by CSL Capitals

Barely one week after the CBN issued a letter to all Deposit Money Banks (DMBs) to maintain a minimum Loan to Deposit Ratio (LDR) of 60% by Sept. 2019, it has revised the guidelines around the apex bank's SDF.

State Governments and LGAs share monthly allocation of N294 billion

States and Local Governments in Nigeria shared a total of N294.83 billion in May 2019. This was revealed in the latest report on the disbursements made by the Federation Account Allocation Committee (FAAC).
CBN's Standing Deposit Facility

CBN says no more interest payment on bank deposits exceeding N2 billion

The Central Bank of Nigeria has directed that banks’ daily deposits placement through the CBN's Standing Deposit Facility, shall no longer exceed N2 billion. 

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the best mobile banking apps

See the best Nigerian mobile banking apps in H1 2019

See the best Nigerian mobile banking apps in H1 2019 #Banking #Apps
President Muhammadu Buhari, new minimum wage

FG’s new minimum wage implementation does not apply to everyone

President Muhammadu Buhari has ordered the immediate implementation of the N30,000 new minimum wage, but it is not for everyone.
MTN

SCOOP: MTN workers to stay home as students reportedly picket headquarters [Update]

Staff of @MTNNG have reportedly been told to stay back at home after the company received a warning of a planned protest by Nigerian students.