The Nigerian Export Promotion says the nation’s economy can thrive better without oil if the non-oil sector is prioritised. NEPC North Central Zonal Coordinator, Mr Samson Idowu stated this on Sunday in Jos in an interview. Idowu said that Nigeria is blessed with abundant non-oil resources ranging from agricultural produce to mineral resources. “If you […]
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• Naira Depreciation, Rise In Inflation Imminent —Experts • ‘Incoherence Among Govt Agencies Common Under Buhari’ • Altercation Suggests No Working Relationship Between Monetary, Fiscal Authorities — Owoh • FEC, Not President Alone, Should Have Approved It As HURIWA Backs Ahmed The latest altercation between the Central Bank of Nigeria (CBN) and the Ministry of […]
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In an apparent response to claims by the Minister of Finance, Budget and National Planning, Zainab Ahmad, that her ministry was not carried along by the Central Bank of Nigeria, in the ongoing process of redesigning three series of the naira, the bank insists it followed the law and due process to carry out the […]
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Coalition welcomes move, kicks against calls for shift in deadline Barely two days after the Central Bank of Nigeria (CBN) announced plans to redesign the naira with the new notes billed to be in circulation from December 15, 2022, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has disowned the policy. Responding to […]
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CBN Deputy Governor, Financial System Stability (FSS), Mrs. Aisha Ahmad (left); Governor, Godwin Emefiele and Deputy Governor, Corporate Services, Edward Lametek Adamu, during media briefing on the issuance of new naira banknotes at the CBN head office in Abuja… yesterday • Hopeful step may rein in inflation, ransom payment, boost naira value • Announcement interpreted […]
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The Central Bank of Nigeria (CBN) will start issuing redesigned naira notes from December 15, 2022. Its Governor Godwin Emefiele told journalists in Abuja that President Muhammadu Buhari has authorised the redesign, production and circulation of new N100, N200, N500 and N1,000 notes. He said: ‘’The new and existing currencies shall remain legal tender and […]
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Bank Directors Association of Nigeria (BDAN) has called for the review of necessary regulations to prevent the deposit money banks from paying insurance on deposits sterilised with the Central Bank of Nigeria (CBN). The directors said banks have been compelled to insure all their total deposits whereas about 50 per cent of funds are available […]
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Permanent Secretary, Ministry of Finance, Aliyu Ahmed (left); Minister of Finance, Zainab Ahmed; Governor, Central Bank of Nigeria, Godwin Emefiele; Deputy Governor, Economic Policy, Central Bank of Nigeria, Dr Kingsley Obiora; and Director, Monetary Policy Central Bank of Nigeria, Dr Hassan Mahmud at the on-going yearly meetings of the International Monetary Fund and World Bank […]
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The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth prospect by 0.2 percentage points to 3.2 per cent in the face of rising uncertainty across the globe. In its October World Economic Outlook (WEO) update released yesterday, the Fund projected the country’s gross domestic product (GDP) to grow at 3.2 per cent this year […]
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President Muhammadu Buhari during the presentation of the 2023 budget to the joint session of the National Assembly in Abuja; Photo: Philip Ojisua; Infographics: Olakunle Olaniyi Borrowing plan will aggravate economic woes, experts warn Stakeholders skeptical on manufacturing sector growth prospects Operators urge FG to channel funds to productive activities Excessive government borrowing from the […]
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