The Central Bank of Nigeria, CBN, has announced major adjustments to its cash-handling regulations, abolishing the ceiling on cash deposits and expanding the weekly withdrawal limit across all platforms to N500,000, a significant rise from the previous N100,000. The apex bank disclosed this in a circular to all banks titled “Revised Cash-Related Policies”, signed by...
Category: Business and Economy
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Report Says World’s Biggest Arms Producers Increased Revenue By 5.9% Last Year To Record Level
The world’s biggest weapons-producing companies saw a 5.9% increase in revenue from sales of arms and military services last year as demand was fed by the wars in Ukraine and Gaza as well as countries’ rising military spending, according to a report released Monday. The Stockholm International Peace Research Institute, or SIPRI, said the revenues of the 100 largest...
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From Crisis to Reform: Inside Dr. Kassim’s Bold Overhaul of Nasarawa’s Basic Education System
By Gambo Hamza As Nasarawa State prepares to host the much-awaited Education Summit, designed as a platform for articulating a comprehensive blueprint for the State’s educational development, experts have been reviewing the notable achievements of the State Universal Basic Education Board (SUBEB) under the leadership of its Chairman, Dr. Kassim Mohammed Kassim. Despite the relatively...
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Ogun Shuts Seven Battery Recycling Plants Over Alleged Poisoning
The Ogun State Government has shut seven used lead-acid battery recycling plants and ordered a temporary suspension of lead ingot exportation as part of urgent steps to investigate alleged lead poisoning in Ogijo, Sagamu Local Government Area. The announcement was made by the Commissioner for Environment, Ola Oresanya, during an inspection tour in Ogijo following the circulation of...
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Court Sanction CBN For Delaying Case Of 62 Sacked Workers
The National Industrial Court of Nigeria (NICN) has fined the Central Bank of Nigeria (CBN) for stalling the hearing of lawsuits brought by 62 disengaged staff members. Justice Osatohanmwen Obaseki-Osaghae issued the order after counsel for the former employees, Ola Olanipekun (SAN), complained that the apex bank’s late filing of a fresh application had forced...
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Mexico Plans To Build Latin America’s Most Powerful Supercomputer
Mexico unveiled plans Wednesday to build what it claims will be Latin America’s most powerful supercomputer — a project the government says will help the country capitalize on the rapidly evolving uses of artificial intelligence and exponentially expand the country’s computing capacity. Dubbed “Coatlicue” for the Mexica goddess considered the earth mother, the supercomputer would be seven times...
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UN Food Agency Projects Northern Nigeria To Experience Hunger At Unprecedented Level In 2026
A spike in attacks by militants across northern Nigeria is “driving hunger to levels never seen before” and is expected to result in the worst levels of food insecurity in Africa next year, according to a World Food Programme report released Tuesday. The food agency of the United Nations projected 35 million people are likely...
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WTO DG Dr. Ngozi Okojo-Iweala Expresses Sadness Over Kidnapped Students And Teachers In Nigeria, Sympathises With Victims’ Families
World Trade Organisation Director General Dr. Ngozi Okonjo-Iweala in a post sympathized with families of the kidnapped Nigerian students and teachers, in her words: “As a mother I am greatly saddened by the kidnappings in our country particularly of our children and teachers from places of learning. “My heart goes out to the children and...