Food Crisis: Cost of healthy diet rises further — NBS Report
By Elizabeth Adegbesan Despite the moderation in inflation rate reported by the National Bureau of Statistics, NBS, the financial burden of feeding on Nigerian households may have intensified as the national average Cost of a Healthy Diet (CoHD) climbed to N1,541 per adult per in March 2026, about 4.4 per cent up from N1,477 in March […]
Investors ‘ve lost confidence in global markets – W-Bank chief
World Bank President Robert Zoellick has said world markets have entered a “new danger zone,” noting that investors have lost confidence in the economic leadership of several key countries. This came even as bankers in the country, weekend, said outright liquidation of BankPHB, Afribank and Spring Bank by Nigeria Deposit Insurance Corporation, NDIC, would have ruined the nation’s economy.
Cash limit: CBN rolls out guidelines for PoS transactions
In preparation for the take-off of its policy on cash withdrawal limit, the Central Bank of Nigeria, CBN, has issued guidelines for payment of goods and services through Point of Sale Terminal (PoS).
The economy: Who is in charge? – 2
“It is better sometimes not to follow great reformers of abuses beyond the threshold of their homes”. George Elliot, 1819-1880.
NATIONALISED BANKS: Sanusi’s consuming instincts to sanitise banking system
Is Malam Lamido Sanusi a loose canon? Yes, Sanusi may be a canon! But, is he loose?
Well, if the penultimate weekend revocation of licences and subsequent takeover of three banks is anything to go by, then the lanky CBN governor may be on the loose.
Like a thunderbolt, his decision days ago to create another shockwave in the banking sector has left many wondering what the real objectives are.
We moved in to save depositors’ funds – NDIC
Managing Director of NDIC, Alhaji Umaru Ibrahim, explains in this interview that the take-over of the banks was in the interest of depositors. He said shareholders’ capital had been long eroded and that the banks could have precipitated a run in the system if left until the September 30 deadline.
Indigenous ship-owners decentralise, inaugurates Warrri zone
The Indigenous Ship-owners Association of Nigeria,ISAN, has decentralised its operations and inaugurated its Warri Zone in a bid to improve service delivery to its members and give a boost to indigenous tonnage in the shipping sub-sector of the economy.
e-Government appoints new chairman
The Board of Directors of National e-Government Strategies Limited has appointed Chief J.B. Fumudoh, as chairman while the board terminated the appointment of Matrix Solicitors as company’s secretary and legal advisers and also appointed Messrs CNS/Adefulu, as Company Secretary and Legal Adviser.
Massive withdrawals hits nationalised banks
In a bid to stabilise the banking industry for greater productivity, the Central Bank of Nigeria, CBN, last weekend, revoked the licences of Spring Bank, Bank PHB and Afribank, even as the monetary authority announced the extension of the inter-bank guarantees of the bridge banks to replace the three axed banks until December 31, 2011 to ensure continued operation.
Maritime workers laud INTELS on employment
MARITIME Workers of Nigeria, MWUN, has lauded the employment agenda of Integrated Logistics Services, INTELS, a terminal operator, in Onne Ports, Rivers State, saying it has about 15,000 workers in its employment.
‘FG should develop infrastructure to grow the economy’
General Manager, Lagos State Emergency Management Agency, Dr. Oluwafemi Oke-Osanyintolu, has called on the Federal Government to embark on massive infrastructure development to boost economic growth and development.
