“You Can’t Cut Inflation to 15% by 2025” – Analyst Challenges Tinubu’s Budget
Policy analyst Basil Abia has called President Bola Tinubu’s 2025 budget goals unrealistic, especially the plan to lower inflation from 34.6% to 15% within a year. Speaking on Politics Today, Abia said, “You can’t achieve 15% inflation with crude oil production below two million barrels per day.” Nigeria is currently producing 1.5 million barrels daily, […]
“Cyberbullying Is a Crime”: Police Warn Nigerians Against Online Insults
The Nigerian police have warned against using social media to insult government officials or others, categorizing such acts as cyberbullying—a criminal offense punishable by law. Police spokesperson Muyiwa Adejobi stated, “Raining direct curses on someone online is cyberbullying, not expression of freedom or criticism.” This announcement follows the arrest of human rights activist Dele Farotimi, […]
CBN Imposes Strict Daily Cash Withdrawal Limit of N100,000 on PoS Users
The Central Bank of Nigeria (CBN) has introduced a new policy limiting daily cash withdrawals via point-of-sale (PoS) terminals to N100,000 per customer and capping agents’ total daily cash-out transactions at N1.2 million. This directive, detailed in a circular titled ‘Cash-out Limits for Agent Banking Transactions’, also restricts weekly withdrawals per customer to N500,000. The […]
National Assembly to Extend 2024 Budget Cycle as Tinubu Presents N47.9tn 2025 Budget
The National Assembly is set to extend the 2024 budget cycle due to delays in budget submission. President Bola Tinubu will present the N47.9 trillion 2025 budget to a joint session of the legislature today at noon. Senator Osita Izunaso, Chair of the Senate Committee on Capital Markets, acknowledged that the late submission makes it […]
Edo Assembly Suspends All Local Government Chairmen and Deputies Over Financial Misconduct
The Edo State House of Assembly has suspended all 18 local government chairmen and their deputies for two months, citing insubordination and failure to submit financial records. The legislative arms of the councils have been directed to assume leadership during the suspension. The decision followed a petition from Governor Monday Okpebholo, who described the officials’ […]
Nigerians Paid Over ₦2 Trillion in Ransoms for Kidnappings Between May 2023 and April 2024 – NBS
Between May 2023 and April 2024, 65% of Nigerian households affected by kidnapping paid ransoms, amounting to an average of ₦2.67 million per case and a staggering total of ₦2.23 trillion, according to the National Bureau of Statistics (NBS). The latest NBS report estimates 2.2 million kidnapping cases nationally, with rural areas accounting for most […]
FG Renames UNIABUJA After Yakubu Gowon, Announces Free Christmas Train Services
The Federal Executive Council (FEC) has approved the renaming of the University of Abuja to Yakubu Gowon University in honor of Nigeria’s former military head of state (1966–1975). The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, after FEC’s final meeting for 2024 at Aso Rock Villa. Established in 1988, […]
EFCC Arrests 792 Suspects in Cryptocurrency and Romance Scam Syndicate Bust
The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects involved in cryptocurrency fraud and romance scams during a surprise operation at a seven-story building in Victoria Island, Lagos. Among the suspects are 192 foreign nationals, including 148 Chinese, 40 Filipinos, and others from Kazakhstan, Pakistan, and Indonesia. The suspects allegedly used the building […]
JUST IN: Nigeria’s Inflation Rate Hits 34.60% in November 2024
Nigeria’s inflation rate increased to 34.60% in November 2024, up from 33.88% in October, according to the National Bureau of Statistics (NBS). This marks a continued rise after September’s reversal of a two-month decline. On a year-on-year basis, the November inflation rate was 6.40% higher than November 2023. Month-on-month, the inflation rate rose by 0.72%, […]
President Tinubu to Present 2025 Budget Proposal to National Assembly on Tuesday
President Bola Tinubu will present the 2025 budget proposal to a joint session of the National Assembly on Tuesday, December 17, 2024, at 11:00 a.m. in the House of Representatives chamber. This marks his second full budget since taking office in May 2023. Senate President Godswill Akpabio announced the presentation during Thursday’s plenary. Earlier this […]