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All posts by Afolabi Ogunde

  • Infrastructure Top Priority of Sovereign Fund Chief, Uche Orji

    Uche Orji, the former Goldman Sachs Group Inc. and UBS AG banker named to lead Nigeria’s sovereign wealth fund, plans to make spending on local infrastructure a key aim after local lawmakers opposed the fund’s creation. “It’s a crucial cornerstone of...

    • Posted September 5, 2012
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  • Osun requires N221 billion for Urban Renewal –Aregbesola

    Osun State Governor, Mr. Rauf Aregbesola, has said the state requires over $1.4bn (N220bn) to rebuild houses in major towns and cities in line with his administration’s urban renewal programme. The governor, while speaking at the UN-Habitat...

    • Posted September 5, 2012
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  • Is Incompetence the Major Reason the CBN Spends N40 billion Annually to Print Naira?

    The Naira (n): A store of value or money owned by foreigners but used by the Nigerian people to facilitate commerce in Nigeria. Nowadays I doubt there is any square meter of Nigeria that has been left...

    • Posted September 5, 2012
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  • N5,000 Note: Sanusi Proposes and Jonathan Approves – Minister

    The Minister of National  Planning, Shamsudeen Usman, has said that the Federal Government does not need the approval of the lawmakers to implement the currency restructuring exercise, at the center of which is the scandalous N5,000 note....

    • Posted September 5, 2012
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  • Foreigners Own Naira Patent – CBN

    The trademark patent right of the naira notes in circulation is owned by non-Nigerians, the Central Bank of Nigeria (CBN) has revealed. The apex bank yesterday cited this as one of the reasons it wants to redesign...

    • Posted September 4, 2012
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  • Naira Pares Drop As Economic Expansion Quickens

    The naira pared a decline to the weakest level in three weeks after a report showed economic growth accelerated in the second quarter. The naira was unchanged at 158.1 per dollar as of 4:41 p.m. in Lagos,...

    • Posted September 4, 2012
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  • Nestlé addressing micronutrient deficiency in Nigeria

    Thousands of farmers in Nigeria are supplying the grain for a new range of Nestlé ready-to-eat cereals designed to help address two of the country’s most prevalent micronutrient deficiencies. The company is using maize from local producers...

    • Posted September 4, 2012
    • 0
  • CBN Reports Shortfall in Q2 Crude Production

    The central bank (CBN) said on Monday the country pumped 2.12 million barrels per day of oil in the second quarter, well below the 2.48 million bpd which the finance ministry has projected in this year’s budget....

    • Posted September 4, 2012
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  • Jonathan Seeks Support for Youth Entrepreneurship Schemes, Explains YouWin

    The Federal Government has called on stakeholders in the private sector to support its drive to increase employment in the country and economic development by engaging the youth. President Jonathan made the call whilst inaugurating the second...

    • Posted September 4, 2012
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  • FAAC distributes N520.9 billion to FG, States, LGAs

    The Federal Accounts Allocation Committee has disclosed that it distributed N520.917 billion to the three tiers of government in July. The meeting chaired by Minister of State for Finance, Alhaji Yerima Lawal Ngama shared the funds in...

    • Posted September 4, 2012
    • 2