Within the last week a war of words has ensued over the management of the Nigerian economy with Gov Obaseki of Edo State firing the first salvo by accusing the FG of the catastrophic management of economy alleging that the FG is printing money to fund federal allocations. Nigeria’s Finance Minister Mrs Zainab Ahmed fired […]
Continue Reading
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has revealed that the various initiatives aimed at encouraging domestic production, have resulted in Nigeria’s monthly import bill falling significantly from $665.4 million in January 2015, to $160.4 million as at October 2018, representing a drop by 75.9 per cent and an implied savings […]
Continue Reading
MTN Nigeria has filed a suit against the Central Bank of Nigeria (CBN) and the attorney-general of the federation to seek a restraining order. In a suit filed in Lagos on Monday, the telco is seeking an injunctive relief to protect its assets and shareholder rights. In a statement by MTN, the company said […]
Continue Reading
The naira appreciated at the parallel market yesterday, gaining N5 at N445 to a dollar from N450 it exchanged last Friday. The development has put currency speculators in series of losses in the last three weeks, as the parallel market rate has fallen from a record high of N520/$ to N445/$ yesterday. This development is […]
Continue Reading
The governor of the Central Bank of Nigeria, Godwin Emefiele met with some media chiefs at the weekend to discuss issues bordering on the economy, recession and how the misapplication of the country’s foreign reserves. During the meeting, Emefiele spoke on the efforts being put in place to revamp the economy. Excerpts: QUESTION to EMEFIELE: […]
Continue Reading
Importers have described the discriminating exchange rate of N197 to a dollar recently introduced by the Central Bank of Nigeria, CBN, for pilgrims as against N313 for the business community as a fraud by some persons in government to get funds out of the country. In an exclusive chat with Vanguard, Okechuku Eze-Ifeoma, Vice President […]
Continue Reading
The Central Bank of Nigeria has suddenly changed its policy toward money transfer operators, effectively blocking many services used by Nigerians to send money to and from the country excluding Western Union, MoneyGram and Ria The decision to revoke the licenses of all but three money transfer companies was backed by a warning,issued on Tuesday, […]
Continue Reading
Some eminent Nigerians have reached a consensus that the real enemies of the country are not those agitating for self-determination, including the Independent People of Biafra (IPOB), Niger Delta Avengers and others, but the elites and leadership that have found comfort in the country’s faulty federal structure and the growing inequality in the national economy. […]
Continue Reading
AGNES Esosa works in the marketing unit of a popular commercial bank and was given a N500m target in 2015. Coincidentally, that was the same year she was to wed, so she was caught in a web of confusion as she ran around for two important projects. One of the projects was the struggle to […]
Continue Reading
Let’s get it out of the way: 2016 is going to be rough for Nigeria from an economic perspective. There! We’ve said it. So let us now ask, or wonder, why. The indicators are not favourable. Our government has over the course of the last sixteen years, failed to diversify its sources of revenue, and […]
Continue Reading
