Author: meridianspy

Traders are increasing quoting rates less than N1,400/$ on the official foreign exchange market as the Nigerian local currency the Naira continues to strengthen ahead of the March 25 meeting of the monetary policy committee, MPC of the Central Bank. At the market on Thursday, almost 80 deals were done at rates below N1,350/$ with some traders quoting N1,251/$, the lowest since this year. Data made available to BusinessDay showed that 347 deals were done on NAFEM on Thursday with volume rising to near $600m. Of this more than half of the deals or 255 were done at rates…

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2027: Peter Obi Plotting to Unite With El-rufai in SDP – Daniel Bwala A former spokesman of the defunct Atiku-Okowa Presidential Campaign Council, Daniel Bwala, has alleged that the 2023 Labour Party (LP) presidential candidate, Peter Obi, is plotting to unite with former Kaduna State governor, Nasir El-Rufai in the Social Democratic Party (SDP), ahead of the 2027 general elections. Bwala made the claims on his official X account on Friday. He said Obi’s move to join the SDP was as a result of the crisis currently rocking the LP and the Nigerian Labour Congress (NLC). In the post, Bwala…

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Two students of the Nasarawa State University, Keffi (NSUK) have lost their lives while scrambling to collect food items given to them by the state government as palliatives to cushion the current economic situation in the country. The students whose identity cannot be immediately ascertained were stampeded to death Friday morning. source in the institution confirmed that the affected students were female, even as he said several others sustained various degrees of injuries during the incident which took place at the Convention Square within the institution. The National President of the Nasarawa State Students Association, Yunusa Yusuf Baduku also confirmed…

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According to the National Bureau of Statistics (NBS), in February 2024, consumers faced a substantial increase in the average retail price of Household Kerosene (HHK), climbing to N1,340.94 per litre, marking a notable 14.23% surge compared to the previous year’s rate of N1,173.89 in February 2023. This sharp uptick in prices has raised concerns among households as they navigate the impact of these heightened costs on their budgets and daily expenses

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A former Director of the Department of State Services (DSS), Mike Ejiofor, has called for an independent probe of the gruesome killing of 17 military personnel in Okuama community in the Ughelli South Local Government Area of Delta State, saying that an objective inquiry will indict some Very Important Personalities. Ejiofor, who was a guest on Channels Television’s Sunrise Daily programme on Thursday, wondered why a lieutenant colonel, two majors, one captain and 13 other military personnel would be deployed to settle a land dispute. “The federal or state government should set up this or harmonise: the state government…

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Global Money Week: CBN Takes Financial Literacy Training to Secondary Schools The Central Bank of Nigeria (CBN) on Thursday took its financial literacy programme to secondary schools to educate students on how to manage their finances responsibly and secure their financial future. Mr. Nuhu Othniel, Acting Director of the Consumer Protection Department at the CBN, spoke to students at the Federal Government Secondary School, Gwagwa, Abuja, during the programme. Mr. Othniel said the initiative aims to educate young Nigerians, especially secondary school students, about financial management even though they may still be dependent on their parents or guardians. According to…

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The Minister of Power, Adebayo Adelabu, has explained how a private company reportedly held on to N32bn paid into its account in 2003 for the supply of three million prepaid metres. According to a statement by the minister’s Special Adviser, Strategic Communications and Media Relations, Bolaji Tunji, on Wednesday, the Federal Government had entered a tripartite agreement with Messrs Ziklagsis Network Limited and Unistar International in 2003 for the supply of three million meters to distribution companies in the country, within three years. The statement indicated that to kick start the project, a revolving metering loan of N32bn was…

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