Category: Economy
High Interest Rates, Inflation Threaten Nigerian Airlines’ Profitability – Bi-Courtney COO
The Chief Operating Officer (COO) of Bi-Courtney Aviation Services Limited, Mr. Remi Jibodu, has raised concerns over the challenges facing Nigerian airlines, warning that high interest rates and inflation could undermine their profitability despite the implementation of the Cape Town Convention (CTC) Practice Direction. Jibodu made the remarks during a courtesy visit by members of…
Shettima Calls for Private Sector Investment to Tackle Hunger, Transform Nigeria’s Food System
Vice President Kashim Shettima has urged the private sector to increase investments in Nigeria’s food system to address the persistent hunger and economic hardship facing the nation. Speaking at the ‘Strategic Workshop on Agriculture and Food Security’ organized by the Presidential Food Systems Coordinating Unit (PFSCU), the National Bureau of Statistics (NBS), and the Nigerian…
EFCC Chairman Reveals He Rejected N500m Offers During Mother’s Burial
The Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has disclosed how he turned down offers totaling N500 million from government officials during his mother’s funeral in 2019. Speaking at the 38th Anti-Corruption Situation Room in Abuja on Thursday, Olukoyede recounted the incident as an example of the ethical challenges faced by…
NDIC Calls on Lawyers to Enhance Recovery of Closed Banks’ Assets
The Nigeria Deposit Insurance Corporation (NDIC) has urged its external solicitors to intensify efforts in recovering assets of closed banks to ensure the payment of uninsured deposits, legitimate creditor claims, and liquidation dividends to investors. The Managing Director of NDIC, Dr. Bello Hassan, made the call during a sensitization seminar for the corporation’s external solicitors…
Meranda Has Resigned as Speaker – Obasa Claims
Embattled former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has claimed that his successor, Mojisola Meranda, has resigned from her position. Obasa made the assertion during an appearance on Politics Today on Channels Television on Thursday evening, insisting that he remains the legitimate Speaker of the House despite his removal by colleagues…
Nigeria Signs Pact with Saudi Arabia to Boost $7.7 Trillion Halal Economy
The Nigerian Government has signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to position Nigeria as a leading player in the global halal market, valued at $7.7 trillion. The agreement, signed at the Makkah Halal Forum in Saudi Arabia, aims to facilitate investment, technical cooperation, and market access across key…
President Tinubu Receives Delta State Senators, Led by Festus Keyamo, at State House
President Bola Ahmed Tinubu on Wednesday received in audience a delegation of Senators from Delta State, led by Festus Keyamo, SAN, the Honourable Minister of Aviation and Aerospace Development. The meeting, held at the State House in Abuja, focused on critical national issues and the development agenda for Delta State. During the meeting, the…
FG, States, LGs Share ₦1.7 Trillion January Revenue – FAAC
The Federation Account Allocation Committee (FAAC) has announced the distribution of ₦1.703 trillion in revenue generated in January 2025 to the Federal Government, states, and local government councils. The allocation was made during the February FAAC meeting held in Abuja, according to a statement by the Director of Press and Public Relations, Office of the…
Court Adjourns $6.2m Fraud Case Against CBN Staff to November 2025
The Federal High Court in Abuja has adjourned the arraignment of three Central Bank of Nigeria (CBN) staff accused of fraudulently obtaining $6.2 million from the apex bank to November 3, 2025. The adjournment followed the Federal Government’s inability to produce the accused persons, who are currently at large, for trial. The defendants—Odoh Ocheme, Adamu…
Nigeria’s GDP Grows by 3.84% in Q4 2024
Nigeria’s economy continued its upward trajectory in the fourth quarter of 2024, with the Gross Domestic Product (GDP) growing by 3.84% year-on-year in real terms, according to the latest data released by the National Bureau of Statistics (NBS). This growth rate represents an improvement over the 3.46% recorded in the fourth quarter of 2023…