Latest News
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Senate passes bill to compel FG to patronise Nigerian products
The Senate on Thursday passed an amendment to Public Procurement Act 2007 with provisions which mandate governments at all levels to patronise locally-manufactured products. The bill was passed after the consideration of the report of the Senate Committee...
- Posted June 18, 2016
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IMF, NEC welcome decision to end currency peg
The International Monetary Fund (MF) and National Economic Council (NEC) both endorsed the decision by the Central Bank of Nigeria (CBN) to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important...
- Posted June 18, 2016
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CBN unveils N500bn non-oil export stimulation facility
As part of efforts to boost activities in the non-oil sector of the economy, the Central Bank of Nigeria (CBN) yesterday unveiled a N500 billion low interest rate non-oil export facility. The banking sector regulator in the...
- Posted June 18, 2016
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CBN empowers entrepreneurs, commences training for YEDP applicants
As part of its contribution towards the development of entrepreneurs in the country, the Central Bank of Nigeria (CBN) wednesday commenced a three-day training programme for stream one applicants of its Youth Entrepreneurship Programme (YEDP) in the...
- Posted June 17, 2016
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Senate constitutes committee to probe non-remittance of N1tn by NNPC
The Senate wednesday constituted an ad hoc committee to probe the allegation by the National Extractive Industries and Transparency Initiative (NEITI) that Nigerian National Petroleum Corporation (NNPC) failed to remit over N1 trillion to the federation account...
- Posted June 17, 2016
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External loans to the rescue as revenue from oil continues to dip
Faced with a shortfall in oil revenue, the federal government will in the next three years seek external loans to finance its programmes and diversify the economy. The Minister of Finance, Mrs Kemi Adeosun, disclosed this to...
- Posted June 17, 2016
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Nigeria’s foreign debt rises by $7.18bn in 10 years
Ten years after Nigeria’s historic exit from the Paris Club of Creditors, the country’s external debt balance has climbed to $10.72bn, up from $3.54bn, investigation has shown. The Federal Government had between 2005 and April 2007 paid...
- Posted June 17, 2016
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NSE reviews composition of market indices
The Nigerian Stock Exchange has announced the expected review of the NSE 30, and the six sectoral indices of the Exchange, which are NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil & Gas and...
- Posted June 17, 2016
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FBN Capital to boost investment banking
FBN Capital Limited says it is committed to the growth of the Nigerian economy and will continue to boost investment banking in the country. The lender said it would raise the bar of investment financing by rending...
- Posted June 17, 2016
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Stocks gain as CBN says market will determine naira rate
After weeks of consultation with stakeholders in the financial services sector, the Central Bank of Nigeria on Wednesday finally released the flexible foreign exchange guidelines. The CBN Governor, Mr. Godwin Emefiele, who announced the details of the...
- Posted June 17, 2016
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Marketers tackle Kachikwu over fuel pump price
Oil marketers under the aegis of the Association of Mega Filling Station Owners of Nigeria have threatened to stop dispensing Premium Motor Spirit, also called petrol, accusing the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu,...
- Posted June 17, 2016
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Inflation hits 80-month high at 15.6% – NBS
The deregulation of the downstream sector of the oil industry, which resulted into an increase in the pump price of Premium Motor Spirit from N87 to N145 per litre has pushed the country’s inflation rate to an...
- Posted June 16, 2016
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FG releases N280bn to six ministries, 50 agencies
The Federal Government on Tuesday announced that it had so far released N280bn from the N350bn set aside for capital projects as contained in the 2016 budget. It stated that the funds had been sent to the...
- Posted June 16, 2016
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FG secures N90bn conditional loan for states
The Federal Government on Tuesday announced that it had secured a N90bn conditional loan from the private sector for state governments through the issuance of bonds in the bond market. The Minister of Finance, Mrs. Kemi Adeosun,...
- Posted June 16, 2016