The Central Bank of Nigeria is set to automate foreign exchange trades by December 2024. This move could enhance transparency, stabilize the naira, and boost investor confidence in Nigeria’s economy.
The Nigerian government announced significant progress in its national vaccination program and healthcare infrastructure development. Health Minister Prof. Ali Pate, during a ministerial briefing, highlighted achievements in vaccinating children against diphtheria, measles, and cervical cancer.
Muhammad Sanusi reinstated as Emir of Kano, with Governor Yusuf abolishing five emirates. Northern elders express concerns over political and cultural implications.
Senator Sani Musa calls for careful consideration in amending the CBN Act, emphasizing the need to preserve the Central Bank's autonomy for economic stability.
Google has announced plans to build a landmark undersea cable, Umoja, the first of its kind to directly link Africa and Australia. This project is expected to revolutionize digital communication and economic ties between the two continents. Google has partnered with African and Australian leaders to develop Umoja, which translates to "unity" in Swahili.
Nigeria enhances the security of its $1 trillion annual transactions with a new AI-based defense system, aiming to combat cybercrime and protect its digital economy.
A group of Nigerian students at a UK university face expulsion due to financial difficulties caused by the devaluation of the naira. The university cites visa regulations, while students plead for support and a chance to finish their studies. The incident raises concerns about the vulnerability of international students to currency fluctuations.
Nigeria’s Central Bank raised its benchmark interest rate to 26.25%, aiming to curb inflation and stabilize the economy despite potential growth impacts.
The Central Bank of Nigeria is set to automate foreign exchange trades by December 2024. This move could enhance transparency, stabilize the naira, and boost investor confidence in Nigeria’s economy.
Nigeria commits to reducing post-harvest losses by 25%, boosting food security and jobs through the Special Agro-Industrial Processing Zones initiative.