… a trusted source of news
A wise Nigerian man has devised a creative system of yam farming within the confines of his compound to resolve economic hardship. One of the man’s daughter said her father uses bags of cement filled with loamy soil to plant his yams within his compound instead of making use of ordinary land. “The empty Dangote…
Following continuation of economic downturn, all areas of Nigerian lives and plans are also striving to grapple with the situation, as areas like housing and rent are also being affected. Nigerians have adapted to building with cement, but now have to go for other alternatives, as the price of cement is now on the high…
Strategic plan of the Federal Government of Nigeria to reduce rising inflation will lead to cash mop up of N5 trillion from the banking industry as the Central Bank of Nigeria, CBN trying to implement the hike in banks’ Cash Reserve Ratio, CRR to around 45 per cent. The Cash Reserve Ratio which represents banks’…
The international investors, most especially potential ones from Qatar has been told to report any government officials that demands bribe from them. Said President Bola Tinubu. The President further guaranteed the international business community that Nigeria is seriously ready for business as his administration will deal decisively with any and all entrenched interests in the…
Chief Adebayo Adelabu, the Minister of Power, has reportedly summoned the chief executives of Abuja Electricity Distribution Company and Ibadan Electricity Distribution Company over the poor power supply in their respective regions. In addition, the Managing Director, Transmission Company of Nigeria, Sule Abdulazeez, was also summoned over the worsening power situation across Nigeria beginning…
President Bola Ahmed Tinubu has ordered all companies producing cement in Nigeria to revert to old prices following concurrent hike in the cost of the commodity. Said by David Umahi, the Minister of Works, on Thursday after inspecting the BUA cement factory in Sokoto State. According to Umahi, “Mr President insisted that these companies must…
*DOLLAR SCARCITY: FG Slams $10b Fine on Binance.* Report reached newskingdo that $10 billion fine has been slammed on crypto trading platform Binance by the Federal Government over allegations of influencing the country’s forex crisis. According to Bayo Onanuga, the special adviser to President Bola Tinubu on information and strategy, he opened up on this…
The report reached thenewskingdom revealed that fake pharmaceuticals consisting of Augmentin tablets, Ampiclox and Amoxycillin capsules concealed in 53 sacks with a Duty Paid Value of N1,739,000,000.00 has been intercepted by the Nigeria Customs Service Area Controller, Oyo/Osun Area Command, Dr Ben Oramalugo The disclosure was made by Oramalugo on Thursday at the 2024 second…
There is massive jubilation in Nigeria over Naira that gains value with correspondent crash of U.S Dollar after CBN hikes interest rate. U.S Dollar crashed on Wednesday 28th by 6.45 percent to N1,450 from N1,550 sold on Tuesday 27th on the parallel market, mostly referred to as black market, after the Central Bank of Nigeria…
,,,,,Following the Supreme Court judgment, which extended the validity of the Central Bank of Nigeria (CBN) currency redesign policy to December, some deposit money banks have started paying out the old notes. According to Dailytrust report, some commercial banks in the City of Kano and Abuja have commenced paying out the old N500 and N1000…