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 […]
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The Central Bank of Nigeria (CBN) has assured Nigerians that the current recession they are facing would end before the end of the year, even as it blamed overdependence on importation for the problem. CBN governor, Mr. Godwin Emefiele, at the weekend while delivering a lecture entitled: “The Dilemma of Monetary Policy and Exchange Rate […]
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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: […]
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Central Bank of Nigeria(CBN) governor, Mr. Godwin Emefiele speaks on the economy and why the Naira will continue to be weak: “It is either I do not understand economics and how exchange rates work or a vast majority of us Nigerians still don’t get how we have wrecked our country with our own curious choices. […]
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THE Central Bank of Nigeria, CBN),has indicated that fiscal policy gaps and other factors outside its control have constrained the ability of its policies to have an impact on price stability in the economy. The apex bank in its post Monetary Policy Committee (MPC) report expressed worry at the developments in the inflationary pressure since […]
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Nigerians may need to brace up for harder times as the Governor of the Central Bank of Nigeria, Godwin Emefiele, may have made some gloomy revelations about the country’s economy. The CBN governor, in a closed-door meeting with the Senate, disclosed that the Federal Government might not be able to pay its workers’ salaries, effective […]
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System Specs, the company that owns Remita, the e-payment and e-collection software used by the federal government to implement payments into the Treasury Single Account (TSA), has written a letter to President Muhammadu Buhari on the controversy surrounding the 1% processing fee charged on inflow into the TSA. The company in the letter dismissed allegations […]
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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that the country’s economy could slip into recession by next year if proactive steps were not taken by the Federal Government to revive key sectors of the economy. It also reduced the Cash Reserves Requirements for Banks from 31 per cent to […]
Continue ReadingNigeria’s economy is decelerating at an alarming clip, increasing the risk of a recession by year end, as leading economic indicators flash red warning signals. Africa’s largest economy expanded by 2.35 percent in the second quarter (Q2) of 2015, down from the 3.96 percent recorded in the first quarter. Research firm, Financial Derivatives Company (FDC) […]
Continue ReadingBy Emeka Anaeto, Economy Editor: THE Central Bank of Nigeria,(CBN),has indicated that fiscal policy gaps and other factors outside its control have constrained the ability of its policies to have an impact on price stability in the economy. The apex bank in its post Monetary Policy Committee (MPC) report expressed worry at the developments in […]
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