The policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 17.5 percent to 18 percent. CBN Governor, Godwin Emefiele, made the announcement on Tuesday, March 21, while reading the communiqué of the second MPC meeting. He said the committee also pegged…
The Lagos state governor, Babajide Sanwo-Olu, has approved the increase of salaries of Civil servants in the state by 20%. According to a circular released by the state Head of Service, Hakeem Muri-Okunola, the increment took effect from January 2023. The arrears for the month of January will be paid alongside March salaries while…
The National Insurance Commission (NAICOM) has raised Third-Party insurance coverage for motorists from N5,000 to N15,000 yearly with effect from January 2023. The approval is contained in a circular titled: New Premium Rate for Motor Insurance and signed by the Director, Policy and Regulation, NAICOM, Mr Leo Akah, for the Commissioner for Insurance. The circular…
The Central Bank of Nigeria (CBN) has announced an upward review of its cash withdrawal limits directive. The apex bank announced in a circular issued Wednesday, Dec. 21, that individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines…
Rivers state governor, Nyesom Wike, has increased the number of his Special Assistants on Political Units from 28,000 to 50,000. This was disclosed in a statement released by the governor’s spokesman, Kelvin Ebiri, on Thursday October 13. “Rivers State Governor, Nyesom Ezenwo Wike has reviewed the appointment of Special Assistants on Political Units from 28,000…
Eight additional Lassa fever infections and one death was recorded in the country between September 5 and 11, 2022, according to the Nigeria Centre for Disease Control and Prevention (NCDC). This brings the total number of confirmed cases and deaths in the country to 917 and 171, respectively. The health agency which revealed that a total…
President Muhammadu Buhari has approved an increase in duty tour allowances (DTAs) for ministers, permanent secretaries and civil servants on grade level one to 17. Duty tour allowance refers to the amount paid by the government when a public servant embarks on an official trip. The approval of the new allowances was conveyed…