The Democratic Republic of Congo (DRC) received a positive review from the International Monetary Fund (IMF) on Wednesday in a crucial step toward completing its first-ever IMF loan program. Following the completion of the sixth and final review in the Congolese capital, Kinshasa, IMF staff are set to recommend to the executive board the approval of the…
The World Bank has said Nigeria’s conditional cash transfer scheme aimed at bolstering household consumption and financial inclusion is largely ineffective. Despite significant investment and efforts by the Nigerian government, the program has shown minimal impact on the lives of its beneficiaries. Launched in collaboration with the World Bank in 2016, the cash transfer initiative…
As the 2024 Joint Admissions and Matriculation Board (JAMB) exams come to a close, many students find themselves at a crossroads, evaluating their options and seeking to optimize their chances of securing admission to their desired institutions. In light of this, the process of changing one’s institution and course has evolved, presenting new challenges and…
Consumer Credit Scheme is an intervention program of the Nigerian federal government aimed at accelerating consumer credit access to 50% of working Nigerians by 2030. This scheme will be managed by a company called the Nigeria Consumer Credit Corporation (CrediCorp), which is owned by the federal government. Ajuri Ngelale, the spokesperson for President Bola Tinubu,…
Days after a train imported from Poland crashed during a test run, the government has stated that the manufacturer will repair the damaged parts within the next three to four weeks. The Railways development minister, John Peter Amewu, explained that only the fenders were damaged, while the electronic and mechanical systems with the engine remained…
A Binance executive who escaped Nigerian custody has been arrested in Kenya and faces extradition to Nigeria this week, according to unnamed Nigerian government sources. Nadeem Anjarwalla, Binance’s regional manager, was detained in Kenya and is set to be extradited. Discussions are ongoing between Nigerian authorities, the International Criminal Police, the Nigeria Police Force, and…
The National Identity Management Commission says Nigerians can now correct their date of birth by themselves. NIMC announced this new update on their social media platforms. The National Identification Number (NIN) is what the Nigerian government uses to establish the identity of every Nigerian. NIN consists of 11 non-intelligible numbers that are randomly chosen and…
A Chinese supermarket located in Abuja has ignited fury among Nigerians following allegations that it systematically denies sales to local customers. Outraged citizens have taken to social media platforms to express their frustration and call for action against what they perceive as discriminatory practices. According to a social media user who recently visited the store,…
With the rising inflation causing essential items, especially food, to become more expensive in Nigeria, it’s becoming very difficult for people to cope. Hunger is affecting many people across the country, leading to protests nationwide. Earlier in February, Nigerian President Bola Tinubu stated that “Nigeria can feed itself.” President Tinubu also emphasized that “the government…
In recent weeks, Nigeria has witnessed a remarkable turnaround in its currency dynamics, with the naira rebounding from record lows against the dollar. However, this resurgence has come at a cost, as the country’s foreign exchange reserves experience a significant decline, raising concerns about the sustainability of this recovery. Nigeria is burning through foreign exchange…