All posts by BusinessNews Staff

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  Odds favour import contraction in Third Quarter

  There are indications that a cocktail of administrative measures put in place by the Central Bank of Nigeria (CBN) which has been responsible for the recent decline in merchandise imports will continue in the third quarter of...

  • Posted July 27, 2015
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  Rice imports drop by 53% as prices rise

  The volume of rice being imported into the country has dropped by 53 per cent in the last one month just as the price of the commodity has increased by over 20 per cent in the market,...

  • Posted July 27, 2015
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  Nigeria earns N472bn from cocoa, others

  The country earned a total sum of $2.4bn (N472bn) from the exportation of cocoa, rubber, and other non-oil commodities within the 2014 fiscal period, figures obtained from the Nigerian Export Promotion Council have revealed. The country’s export...

  • Posted July 27, 2015
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  Nigeria spent N1.18tn on food imports, banned items in 17 months

  Nigeria spent a total of N1.18 trillion (about $7.4 billion) on the importation of toothpicks, fish, milk, textiles, rice and furniture between 2014 and May 2015, it was gathered. According to figures obtained from the Central Bank...

  • Posted July 27, 2015
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  Unintended fallout of publication of banks debtor lists may jolt economy – Lemo

  Former Deputy Governor, Central Bank of Nigeria and Chairman, Lambeth Trust and Investment Company Limited, Mr. Tunde Lemo, in this interview with Festus Akanbi, speaks on issues ranging from life after his exit from the apex bank,...

  • Posted July 27, 2015
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  CBN rules out naira devaluation, retains MPR at 13%

  The Monetary Policy Committee of the Central Bank of Nigeria on Friday retained the Monetary Policy Rate at 13 per cent with a corridor of +/- 200 basis points around the midpoint. It also ruled out the...

  • Posted July 26, 2015
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  FAAC allocates N518bn to three tiers of government

  The Federation Accounts Allocation Committee on Friday allocated a total sum of N518.54bn to the three tiers of government for the month of June The allocation, when compared to the N403.02bn distributed in the previous month of...

  • Posted July 26, 2015
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  Oteh emerges World Bank’s vice president

  The World Bank has announced the appointment of the immediate past Director General of the Securities and Exchange Commission, Arunma Oteh, as its vice president and treasurer. The bank, in a statement on Friday, said Oteh was...

  • Posted July 26, 2015
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  FG may rejig policy on airline ownership in Nigeria

  Determined to address the problem of low capacity and improve airlines’ operational standards, the federal government may come up with a policy that would stipulate that any airline operating in the country should have a minimum of...

  • Posted July 25, 2015
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  CBN tweaks Forex peg again as naira falls in black market

  The Central Bank of Nigeria (CBN) has adjusted its exchange rate peg to N197 against the dollar from the N196.95 it set last week, data on the bank’s website showed  The latest adjustment was the fifth since...

  • Posted July 25, 2015
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