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  • Business - Companies
  • Updated: March 24, 2024

Business news roundup from March 17 - March 23, 2024

Business news roundup from March 17 - March 23, 2024

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Farmers fail to repay over N380bn CBN loans

Farmers and agricultural firms in Nigeria are struggling to repay N380.97 billion of the Central Bank of Nigeria’s intervention loans.

This figure represents the cumulative due and unpaid principal and interest from various agricultural support programmes initiated by the CBN. Read more here.

Senate cautions FG against supplementary budget, excess loans

The Senate has warned the executive against increasing the budget size through a supplementary budget, advising the government to use the excess savings that are expected to be made from the recent depreciation of the naira to fund the deficit.

The Senate noted that the executive should use the excess savings to cut down on loans it would seek to fund the deficit in the budget. Read more here.

Millions of workers remain poor globally — ILO

The International Labour Organisation has disclosed that millions of workers worldwide in both the formal and informal economies continue to earn very low wages compared to the cost of living and live in poverty

It stated this in a release after a meeting of experts on wage policies, in February, which was endorsed by the ILO’s Governing Body at its session on March 13, 2024. Read more here.

Naira will appreciate soon — Presidency to FX speculators

The Presidency has warned forex speculators that the naira will soon appreciate.

President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga urged speculators to quickly dump their dollars to avoid “tears”. Read more here.

FX crisis: Tinubu urges Nigerians to strengthen naira

President Bola Tinubu on Friday urged Nigerians to patronise made-in-Nigeria products and services to sustain the recent gains of the naira in the foreign exchange market.

He also called for more collaboration from citizens, whom he urged to blow the whistle on persons seen engaging in practices that undermine the local currency. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.

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