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Operators in the Nigerian pharmaceutical industry have commended the Central Bank of Nigeria for prompt disbursement of the N100 billion Health Sector Intervention fund. They also expressed the need for …
Pharmaceutical manufacturers commend CBN on access to N100bn fund Read More
Over the years, trade and commerce continue to play a strong role in foreign exchange earnings for countries globally. And this has been the driving force behind the federal government’s …
How trade drives revenue generation through local participation Read More
INDEPENDENCE DAY ADDRESS BY HIS EXCELLENCY, MUHAMMADU BUHARI, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA ON THE OCCASION OF NIGERIA’S SIXTIETH INDEPENDENCE ANNIVERSARY, THURSDAY 1ST OCTOBER 2020 Fellow Nigerians I …
Nigeria @60: Buhari finally opens up on fuel price increase, other talking points… Read Full text of President’s Independence Day speech Read More
The President, Pharmaceutical Society of Nigeria (PSN), Pharm. Sam Ohuabunwa has called on the federal government to allocate foreign exchange to the pharmaceutical industry, so that manufacturers can make timely …
PSN boss tasks FG on allocation of forex to pharmaceutical industry Read More
There is a possibility that the Nigeria economy may stay out of the woods with crude oil demand continuous rebound to pre-COVID 19 levels globally, analysts said. But, the demand …
Oil demand edges to pre-COVID-19 levels, as naira stabilize across markets Read More
Introduction The foreign exchange inflow through diaspora remittance has to some extent helped to increase the nation’s earnings and forex supply. The World Bank’s recent projection that global remittance is …
Creating more channels of Diaspora Remittances to boost Nigeria economic growth Read More
Mixed reactions greeted the foreign exchange (forex) market last week, even as the foreign reserve, a measure of strength of the local currency and trade, advanced 2.2 per cent to …
Money/Banking: Mixed reactions at forex market as reserves advance 2.2% Read MoreThe severe pressure on Nigeria’s foreign exchange market has led to significant depreciation of the Naira across all the market segments, with JP Morgan predicting a further depreciation of the …
Naira crashes to N415/$ in parallel market Read MoreThe plunge in oil prices is piling pressure on Nigeria to devalue the naira as export revenue depletes foreign-exchange reserves, curbing the central bank’s ability to support the currency. The …
‘Oil drop may force naira devaluation’ Read MoreThe Federal Government has said it would provide legal framework to enhance Nigeria’s automotive industry and boost transportation and agricultural development production in cost effective and affordable means. The Attorney General …
FG set to provide legal framework in automotive industry Read MoreThe Central Bank of Nigeria (CBN) on Friday, made an intervention of $311.5 million in the retail Secondary Market Intervention Sales (SMIS) and CNY 15 million in the spot and …
Forex intervention: CBN injects $311.5m, CNY15m into Retail SMIS Read MoreThe development of a vibrant commodities trading ecosystem will help to diversify the economy away from dependence on crude oil for improved government revenue and foreign exchange earnings Vice President …
Vibrant commodities exchange’ll improve forex earnings – Osinbajo Read MoreThe Central Bank of Nigeria (CBN) sustained its interventions in the foreign exchange )FX) market this week, offering a total of $210.0 million at the various segments to maintain liquidity …
Naira remains stable despite declining external reserves Read MoreThere has been considerable controversy regarding the recent directive by the President, Mohammadu Buhari, to the Central Bank of Nigeria to stop allocating foreign exchange (forex) for food importation. Presidential …
The raging controversy over withdrawal of forex for food imports Read MoreThe Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele said Monday that the bank would not go against presidential directive banning foreign exchange for food importation. Emefiele …
Food importation: No going back on presidential directive – Emefiele Read MoreThe African Union, Economics, Social, and Cultural Council (Ecosocc), Nigeria chapter, has commended the federal government decision to restrict foreign exchange to importers of food into the country. Accirding to …
AU commends FG’s decision to restrict forex for food importation Read MoreThe Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market. Figures obtained from the CBN indicated that authorised dealers in …
CBN again injects $210m into forex market Read MoreManaging Director Financial Derivatives Company Limited, Bismarck Rewane has predicted that the Monetary Policy Committee of the Central Bank may further cut rate by another 25 basis points to 13.25 per …
Rewane predicts further reduction in MPR Read MoreThe interbank segment of the foreign exchange market has received a boost of $205 million from the Central Bank of Nigeria (CBN) following the sales concluded on Tuesday. Figures obtained …
CBN injects $205m into forex market Read MoreThe Central Bank of Nigeria (CBN) has said that its recent decision to sanction for banks and MTN is not meant to discourage foreign investors. This is just as it …
Our action not to discourage foreign investors – CBN Read MoreThe broad objective of achieving inclusive growth and building a globally competitive economy is to invest in the people. This involves, among others, the improvement of the human capital through …
Revive the pharmaceutical sector for inclusive growth Read MoreThe Association of Bureaux De Change Operators of Nigeria (ABCON) has cautioned that the delay in granting operational autonomy to the Nigerian Financial Intelligence Unit (NFIU) may derail the …
Delaying NFIU’s autonomy may derail anti-graft war-ABCON Read MoreBy Benjamin Umuteme Abuja The federal government spent N1.3 trillion on capital projects in 2016, Vice President Yemi Osinbajo, has disclosed. The Vice Pressident, who made the disclosure during the …
FG spent 1.3trn on capital projects in 2016 –Osinbajo Read MoreBy Taiye Odewale Abuja Senate yesterday absolved the Mobile Telecommunication Limited (MTN) Nigeria of alleged unscrupulous violation of the Foreign Exchange Act and fraudulent practices . The exoneration of the …
‘Capital flight’: Senate absolves MTN, indicts CBN Read More