Business

A former Statistician-General of the Federation/Chief Executive Officer of the National Bureau of Statistics (NBS), Dr. Yemi Kale, has criticized the methodology in calculating Nigeria’s unemployment rate from 20 hours to one hour per week. This comes barely a week after the NBS released new data that put employment at 4.1 percent from the 33.1% it was in 2020 when …

Governor Abba Kabir Yusuf of Kano State has faulted the mode that the federal government adopted for the distribution of N500 billion in palliatives for small-scale industries. The government had announced using the Bank of Industry to support small-scale industries across geopolitical zones. Speaking through his deputy, Comrade Aminu Abdussalam, the governor said the distribution was heavily skewed in favour …

President Bola Ahmed Tinubu has signed four Executive Orders in fidelity to the pledge to put Nigerians at the centre of government policies and address business unfriendly fiscal policy measures and multiplicity of taxes. The Special Adviser to the President on Special Duties, Communication, and Strategy, Mr. Dele Alake, disclosed this on Thursday while briefing State House reporters at the …

Fox News and Dominion Voting Systems have agreed to a blockbuster settlement over the network’s coverage of former President Trump’s false claims of voter fraud in the 2020 election. The settlement comes after months of courtroom fighting between the two parties, in what had been widely seen as a precedent-setting moment for defamation law that could severely alter the financial …

At least nine people have died in a new wave of strikes across Ukraine in which Russia used powerful weapons, including rare hypersonic missiles. Russia had reportedly not fired Kinzhal hypersonic missiles - which can evade air defences - since the early months of the conflict. The latest barrage was the most severe to hit Ukraine for weeks. It cut …

The 14th Emir of Kano and former Governor of the Central Bank of Nigeria (CBN), Alhaji Muhammadu Sanusi, has asked Nigerians to support the cashless policy. In a social media post on Monday, Sanusi urged people to be careful and not fall for the manipulation of politicians. He added that the policy was not new, saying it has been in …

The Central Bank of Nigeria (CBN) Friday refuted media reports that it had authorised the Deposit Money Banks (DMBs) to collect the old N500 and N1,000 banknotes from customers and members of the public. CBN Director, Corporate Communications Department, Mr. Osita Nwanisobi, disclosed this in a statement. He said, “The attention of the Central Bank of Nigeria has been drawn …

Governor Nasir El-Rufai of Kaduna State has dared President Muhammadu Buhari on the naira redesign policy, saying the old notes remain legal tender in the state. In his national broadcast early Thursday, Buhari declared that old N500 and N1000 were no longer valid. He had asked Nigerians to take them to the Central Bank and designated places. But in his …

A Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to appear on Wednesday over a $53 million judgement debt arising from the Pars Club refunds. Justice Inyang Ekwo in an application for garnishee made on October 20, 2022, ordered Emefiele to appear on January 18 as the hearing date for …

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has written to the House of Representatives, explaining why he will not be able to honour the invitation sent to him in person. The letter sent to the House by the CBN governor was read by the Speaker, Femi Gbajabiamila at the plenary on Wednesday. The Speaker informed the …