News
Central Bank of Nigeria Raises Benchmark Interest Rate to 26.75% in Response to Surging Inflation
The Central Bank of Nigeria (CBN) has increased its benchmark interest rate to 26.75% amid rising inflation concerns.
The decision, announced on July 24, 2024, represents a substantial hike from the previous rate of 25.5%.
CBN Governor Godwin Emefiele stated that the move is intended to curb inflationary pressures and stabilize the economy.
This adjustment is expected to impact borrowing costs and consumer spending, with analysts predicting broad economic effects as a result.
The Abia State Government starts a new transit system with green shuttles that are affordable to residents in the state.
The Commissioner of Information, Okey Kanu, shared that the new transit system started on the 1st of March 2026 and it has ensured smooth transport in the state.
“The introduction of subsidised fares would help maintain the transport programme and ensure that residents continue to enjoy reliable and affordable public transportation across the state.”
It has been reported that the United States Embassy in Kuwait has officially closed down due to the attack occurring in the Middle East. This closure was announced in an alert issued on the 3rd of March, 2026.
“Security Alert: U.S. Embassy Kuwait Closure. Due to ongoing regional tensions, the U.S. Embassy in Kuwait will be closed until further notice.”
“We have canceled all regular and emergency consular appointments. We will communicate when the embassy returns to normal operations.”
It has been reported that armed bandits attacked the Janjala village Kaduna State.
It was shared that 1 person was injured while some people were abducted. It can be noted that this incident occurred on the 2nd of March, 12:30am.
The residents from the area shared the news to the headquarters and spoke on the victim who was injured. They shared that he was shot and rushed to the hospital.
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