Nigeria’s central bank took a vital step toward restoring confidence in the battered naira by aggressively raising interest rates and pledging to dig the country out of its present “mess.” Announcing a much-bigger-than-expected 400 basis point rate increase to 22.75%, Governor Olayemi Cardoso said that the central bank was not responsible for the nation’s woes, but was working hard to put things right. “We are part of the solution,” he told a media briefing in Abuja, the capital, on Tuesday after the monetary policy committee held its first gathering since July. “We are determined to ensure that we work hard…

Nigeria Labour Congress (NLC) has suspended its two-day nationwide protest. The NLC had declared a two-day nationwide mass protest for February 27 and 28, over the economic hardship confronting millions of Nigerians since the removal of the petrol subsidy in May 2023. The NLC and Trade Union Congress of Nigeria (TUC), had on February 8, given a 14-day ultimatum to the federal government over the rising cost of living in the country. A late night meeting on Monday between the federal government and NLC was not enough to convince the latter to shelve the nationwide protests. On Tuesday morning, the…

PRESS RELEASE Hallmark University, Ijebu-Itele, Ogun State will be holding its maiden convocation ceremony on the 29th of February, 2024 at the University main auditorium. According to the University Registrar, Afolabi Ajayi, "the former Vice-Chancellor of Olabisi Onabajo University, Ago-Iwoye, Professor Wale Olaitan, will be the special guest at the occasion." The Convocation Lecture holds 11am on Wednesday February 28, 2024. He stated further that: "Graduating students, their parents and guests must be seated by 9.30am at the University Auditorium and must remain seated until the end of the ceremony." Parts of the programmes marking the occasion include lectures, exhibitions,…

Federal Executive Council (FEC) on Monday, gave its nod for the implementation of aspects of the 2012 Stephen Oromsaye Panel Report. Minister of Information and National Orientation, Mohammed Idris, disclosed this after the council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. He said the go-ahead was given to reduce the cost of governance.” The minister further said the implementation of the report means that some agencies, commissions and departments of government have been scrapped, merged, subsumed and others moved under new ministries. He explained: “President Bola Tinubu has taken a decision to implement the so…