Category: Business

FBNQuest has expressed concerns about Nigeria’s inflationary trend, noting that the present currency depreciation may further aggravate the country’s inflation outlook, especially as local prices begin to reflect import pass-through costs. Indeed, local producers have continued to complain about poor access to foreign exchange for the purchase of critical raw materials for production. With the […]

Doubts persist over immediate subsidy removal by next govt Tinubu, Atiku, Obi are pro-market reformers, good for economy, says Uzum Though presidential candidates in the forthcoming general elections have expressed commitments to addressing some of the challenges faced by Nigerians, members of the Organised Private Sector (OPS) have asked the candidates to go beyond rhetoric […]

Economists and public policy experts have commented on the disagreement between the Central Bank of Nigeria Governor, Mr Godwin Enefiele, and Minister of Finance, Budget and National Planning, Zainab Ahmed, over the proposed currency redesign, saying that it is a reflection of fiscal and monetary policies’ dissonance. Emefiele had on Wednesday announced that the bank […]

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 […]

• 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 […]

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 […]

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 […]

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 […]

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 […]