Category: #Finance
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U.S. SUPPORTS EBOLA RESPONSE WITH FUNDING FOR 50 CLINICS IN DRC AND UGANDA
The United States says it is supporting efforts to contain the Ebola outbreak in the Democratic Republic of the Congo (DRC) and Uganda by funding up to 50 treatment clinics. According to the U.S. Department of State, the clinics are being rapidly deployed to strengthen emergency response in affected areas. They will provide Ebola screening,…
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NIGERIA BACKS BRICS PUSH FOR REFORM OF GLOBAL FINANCIAL SYSTEM
Nigeria has expressed support for calls to reform international financial institutions and strengthen cooperation among developing countries under the BRICS framework. The position was presented at the 18th BRICS Foreign Ministers Meeting in New Delhi, India, by the Permanent Secretary of the Ministry of Foreign Affairs, Amb. Dunoma Ahmed, on behalf of the Foreign Affairs…
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NIGERIA’S INFLATION RISES TO 15.69% IN APRIL – NBS REPORT
Nigeria’s inflation rate rose slightly to 15.69% in April 2026, according to the National Bureau of Statistics (NBS). The latest report shows a marginal increase from 15.38% recorded in March. The NBS said the rise was influenced by higher prices in food, transport, accommodation services, and other household essentials. Food inflation stood at 16.06% year-on-year,…
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PENCOM LAUNCHES FREE HEALTHCARE SCHEME FOR LOW-INCOME PENSIONERS
The National Pension Commission (PenCom) has introduced a free healthcare initiative for low-income pensioners under the Contributory Pension Scheme. In a statement, PenCom said the programme—known as PenCare is designed to reduce medical costs and improve the wellbeing of retirees. The scheme targets retirees aged 60 and above who earn less than N70,000 monthly from…
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CHINA’S YUAN GAINS SLIGHTLY AGAINST U.S. DOLLAR
China’s currency, the Yuan, strengthened slightly against the U.S. dollar on Monday, according to the China Foreign Exchange Trade System. The central parity rate rose by 35 pips to 6.8467 per dollar ahead of trading activities in the interbank foreign exchange market. China’s forex system said the daily rate is determined using a weighted average…
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PenCom urges states to implement pension reforms
The National Pension Commission (PenCom) Director-General, Omolola Oloworaran, has urged states to fully implement contributory pension reforms to protect retirees and guarantee workers’ retirement benefits nationwide Oloworaran said stronger compliance with pension reforms would reduce liabilities, improve accountability, and strengthen sustainable pension administration across the country. Oloworaran spoke Thursday May7 in Abuja during a consultative…
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SANWO-OLU PUSHES FOR TAX AGENCIES’ AUTONOMY, HAILS LAGOS REVENUE BOOM
Babajide Sanwo-Olu has called for full autonomy for tax agencies across Nigeria, saying political interference is slowing down revenue growth in many states. Speaking at the 159th meeting of the Joint Revenue Board in Lagos, the governor praised the Lagos State Internal Revenue Service (LIRS) for driving record performance. He revealed that Lagos generated about…
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NO IMF SOS… FOR NOW: NIGERIA SAYS REFORMS ARE DOING THE HEAVY LIFTING
While many economies are knocking on the IMF’s door, Nigeria says, “We’re good for now.” Nigeria has ruled out any immediate move to seek financial support from the International Monetary Fund, with Finance Minister Wale Edun insisting ongoing reforms are holding the line. Speaking in Washington, Edun said the country is leaning on homegrown economic…
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TRANSPORT COSTS CHOKE NIGERIANS, IMF SOUNDS ALARM
From market stalls to motor parks, rising transport fares are quietly squeezing wallets—and the IMF says it’s getting worse. Nigeria’s cost-of-living crisis is deepening, with the International Monetary Fund warning that soaring transport costs are driving food prices through the roof. At the IMF/World Bank Spring Meetings in Washington, Abebe Selassie said higher fuel prices…
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NIGERIA STEPS UP BID TO HOST AU MONETARY INSTITUTE
Abuja wants the seat of Africa’s money future — and it’s putting everything on the table. The Central Bank of Nigeria says Nigeria has intensified efforts to host the African Union’s African Monetary Institute (AMI), positioning Abuja as a key hub for continental financial integration. CBN Governor Olayemi Cardoso made this known at the IMF/World…
