President Bola Tinubu has directed some of his ministers and other political appointees to resign between the space of two weeks and gave reason for the move.
Nigerian banks, led by CBN's new policy, raise savings interest rates. But inflation outpaces yields, leaving many households feeling financial strain.
An Australian aerospace firm said Friday it has scrubbed a historic attempt to send a locally developed rocket into orbit, citing a glitch in the nose cone protecting its payload -- a jar of Vegemite. If successful, it would be the first Australian-made rocket to be sent into orbit from Australian soil.
The US government rested its case against Facebook-owner Meta on Thursday, as it tries to persuade a US judge that the tech giant bought Instagram and WhatsApp to neutralize them as rivals.
Coinbase on Thursday said criminals bribed and duped their way to stealing cryptocurrency from its users, then tried to blackmail the exchange to keep the crime quiet. "Cyber criminals bribed and recruited a group of rogue overseas support agents to steal Coinbase customer data to facilitate social engineering attacks," the leading US cryptocurrency exchange said in a blog post.
The National Bureau of Statistics has provided insight into price movement in the country revealing that headline and food inflation rate has dropped.
The United States is on track to lose some $12.5 billion in revenue from foreign tourists this year, a tourism industry group said Thursday, as the Trump administration has led a crackdown in immigrants. The study by the World Travel and Tourism Council (WTTC) and Oxford Economics found that the United States was the only country set to see a drop in spending from foreign tourists this year.
Retail sales in the United States were near-flat in April, government data showed Thursday, with indications that spending is slowing after consumers rushed to beat higher prices from President Donald Trump's sweeping tariffs. Already, major retailer Walmart warned Thursday of higher prices and continued uncertainty over tariffs.
The United States House of Representatives is proposing a five per cent tax on remittances by US resident to foreign countries, a move which may affect Nigeria.
Federal Reserve Chair Jerome Powell on Thursday warned of the possibility of "more persistent" supply shocks, as US central bankers met for talks against a backdrop of uncertainty kicked up by Donald Trump's tariff rollout.
The committee chairman urged the Central Bank of Nigeria to avoid further interest rate hikes, citing the adverse effects on SMEs, agriculture, and employment.
Economy
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