The Governor, Central Bank of Nigeria, Godwin Emefiele, has said annual foreign exchange outflow on study-related to the UK has hit to about $2.5bn as visa applications increased. He also said the official foreign exchange receipt from crude oil sales into …
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The Federal Government has pledged to continue skills acquisition programmes across Nigeria to deepen the economy estimated at $420bn. Speaking at the ITF-NECA Technical Skills Development Project (TSDP) Stakeholders’ Dialogue Forum in Abuja, Minister of State for Industry, Trade …
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Amid an economic downturn and rising inflation, the tax burden on Nigerians in the first nine months of 2022 increased by N285.13bn. This is as Nigerians paid N2.01tn in indirect taxes in the period under review, a 16.57 per cent …
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The Federal Government will progressively produce Sorghum toward meeting the country’s food and industrial demand in the face of climate change and insecurity. The Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, made this known at the presentation of …
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Luxembourg’s former finance minister Pierre Gramegna is likely to take over the euro zone’s bailout fund, the European Stability Mechanism (ESM), succeeding Germany’s Klaus Regling who retired last month, a senior euro zone official said. The ESM was created in …
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South Korea’s Hyundai Motor Co and SK on plan to invest about 2.5 trillion won ($1.88 billion) to build a new joint venture battery factory in the United States, the Korea Economic Newspaper reported on Friday. Hyundai Motor and SK …
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Raedial Holdings Limited, a holding company with subsidiaries in the agricultural, finance and hospitality sector has expanded its operations to Lagos. The company played host to industry stakeholders and clients at the official launch which took place on the …
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The Association of Table Water Producers of Nigeria has announced plans to shut down operations, and hike prices of sachet and bottled water due to the high cost of production and raw materials. It noted that the temporary closure would …
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The Governor, Central Bank of Nigeria, Dr. Godwin Emefiele, will address stakeholders on economic and financial markets development on the economic outlook for the coming year. A statement said Emefiele would speak at the Annual Banker’s dinner of the …
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The Governor of the Central Bank of Nigeria, Godwin Emefiele has said that it would work with law enforcement agencies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, to complicate and track …
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President Muhammadu Buhari on Wednesday finally unveiled the re-designed Naira Notes as proposed by the Central Bank of Nigeria (CBN). The CBN Governor, Mr Godwin Emefiele had on Tuesday said that the president will unveil the newly designed N1,000, N500 …
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• Presents new naira notes to Buhari today • Standing deposit at 17.5% shows inflation rate manipulated, says expert Raising of interest rate from 15.5 per cent to 16.5 per cent, translating to the standing deposit rate hitting 17.5 per …
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The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the eNaira, stated this on …
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Unemployment and inequality will rise because multiple economic and political crises are threatening labour market recovery worldwide, according to the latest edition of the International Labour Organization Monitor on the World of Work. According to the new ILO report, the …
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The World Bank has said that subsidies benefit only rich households and reduce government spending on poor Nigerians. This was contained in a statement on the bank’s website announcing the launch of the new Nigeria Public Finance Review report. …
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The Federal Government is targeting zero rejection of Nigerian products at the global market to drive foreign exchange earnings and boost revenue. Speaking at the launch of Export4Survival campaign held by the Nigerian Export Promotion Council in Abuja on …
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The Debt Management Office has announced the offering of N100bn Ijarah Sukuk bonds for subscriptions. The proceeds would be invested in constructing and rehabilitating certain strategic roads across the country. According to a statement released via the DMO website, …
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The International Monetary Fund has faulted the Central Bank of Nigeria’s monetary policy, saying that it has been ineffective in the fight against rising inflation. The IMF in its report tagged ‘How Fiscal Restraint Can Help Fight Inflation’ urged the …
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The carbonated soft drinks sub-sector of the Manufacturers Association of Nigeria has knocked the Federal Government over the proposed 20 per cent ad-valorem excise tax on non-alcoholic beverages which covers the widely consumed carbonated soft drinks segment. The sectoral group …
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The Central Bank of Nigeria has launched a countdown clock on its website for the January 31, 2023 deadline for the N200, N500, and N1,000 notes currently in circulation. The apex bank had announced a Naira redesign policy to produce …
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