The Senate has set a machinery in motion for amendment of the Central Bank of Nigeria ( CBN ) Act 2007, which will among others, make tenureship of Governor of the apex bank, a six year single term as against renewable five years in the extant Act. It also proposes N1trillion recapitalization for commercial banks which presently stands at N100billion. As the Senate moves for sweeping reforms in […]
The federal government yesterday declared war on currency speculation in its effort to stem the crisis in the foreign exchange (FX) market. The government issued a directive to the Office of the National Security Adviser (ONSA) and Central Bank of Nigeria (CBN) to join forces to address the challenges posed to the national economy by the speculative FX activities. Equally, yesterday, in a renewed bid to safeguard Nigeria’s FX market […]
As part of efforts to boost Nigeria's socio economic growth, the National Mathematical Centre is being repositioned to use Mathematics in strengthening the national economy. The Director General of the Centre, Prof Promise Mebine, at the Opening of a three day Staff Retreat in Abuja said that Mathematics and its applications play pivotal roles in strengthening the economy and national statistics. He therefore stressed that for the country to be […]
The Executive Secretary, Nigeria Christian Pilgrim Commission, NCPC, Bishop Stephen Adegbite wants Nigerians not to allow the present dwindling economic situation affect their faith in God and love for the country. It The NCPC Scribe made the call during a courtesy visit to the President of the Christian Association of Nigeria, CAN Archbishop Daniel Okoh in Abuja. Bishop Adegbite also called on Nigerians to exercise patience and be optimistic that […]
In a bid to develop the tourism sector in the Federal Capital Territory, the Minister, Mr Nyesom Wike, says tourism potential abounds in Abuja that could be explored by Qatar. Wike highlighted some of the potential in Abuja when Ambassador of the State of Qatar to Nigeria, Ali bin Ghanem Al-Hajri, paid him a working visit. Wike expressed FCT Administration’s willingness to make land available for the development of tourism […]
Price increases in the US moderated last month but not as much as expected, as higher housing and food costs offset a decline in petrol prices. Annual inflation, the pace at which prices rise, was 3.1%, down from 3.4% a month earlier, the Labor Department said. Many analysts had expected inflation to fall to 2.9%. It is the latest economic reading to suggest that authorities have not got inflation fully […]
The UK has signed an Enhanced Trade and Investment Partnership (ETIP) with Nigeria to boost trade and investment between the two countries and unlock new opportunities for UK and Nigerian businesses. Secretary of State Kemi Badenoch signed the ETIP alongside her Nigerian counterpart Nigerian Trade Minister Doris Nkiruka Uzoka-Anite today in Abuja. The Enhanced Trade and Investment Partnership (ETIP) is the first the UK has signed with an African country and […]
The Oil and Gas Free Zones Authority, OGFZA has continued to spearhead efforts to attract investments into Nigeria's oil and gas sector. To this end, the Managing Director, Bamanga Usman Jada led a delegation of prominent investors on a visit to the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite. During the joint business meeting held in Abuja, key industry players deliberated on strategies to bolster investments and job […]
To stop the free fall of Naira in exchange for US dollar and other hard foreign currencies, Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso, admonished Nigerians to reduce their appetite for dollar, consumption and usage of foreign goods. Cardoso who gave the admonition during an interactive with the Senate Committees on Finance , Appropriations, Banking, Insurance and other Financial Institutions had with managers of the Nation's economy, said […]
