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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CFAN to begin biometric data of cocoa farmers, decorate Ooni as grand patron The Federal Government has said that the country earned N122.89 billion from the export of raw cocoa beans and cocoa products in the first quarter of 2022 in the country. Minister of Agriculture and Rural Development, Muhammed Abubakar, disclosed this, yesterday, in […]
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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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British High Commissioner to Nigeria, Catriona Laing (right) and Deputy High Commissioner, Ben Llewellyn-Jones during the British Business Group (BBG) Nigeria’s 5th Decade Heritage Night Celebration in Lagos As British Business Group Nigeria marks 50th anniversary The British government has emphasised the need for the Federal Government to fix fundamental political and economic issues affecting […]
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Photo: Philip Ojisua; Infographics: Olakunle Olaniyi Fiscal Deficit Grows By 400 Per Cent Since Buhari’s First Appropriation FG Risks More Funding Crisis As Debt Marker Dries Up Estimates Contradict Economic Realities — Adonri Deficit, Debts Could Cripple Economy — ACCI With Friday’s presentation of the 2023 Appropriation Bill, President Muhammadu Buhari may have set the […]
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Says move will discourage new investments, potential investors Manufacturers Association of Nigeria (MAN) has condemned Wednesday’s invasion of Dangote Cement Plant by the Kogi State Vigilante Service (KSV), saying the action will discourage new investments in the state. Its President, Mansur Ahmed, at a press conference to herald the association’s 50th Annual General Meeting (AGM), […]
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Nigerian Stock Exchange It was not cheery news on the trading floor of the Nigerian Exchange Limited (NGX), as activities on the stock market took a negative turn last Tuesday following the increase of the Monetary Policy Rate (MPR) for the third consecutive time to stabilise prices. Indeed, aggressive monetary policy tightening by the Central […]
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MPR raised to 15.5 per cent, highest in 20 years CBN to debit commercial banks to effect new CRR Thursday Adonri: Increase creates opportunity for FG to mop up local funds Job losses to worsen, experts warn Nigerians lament soaring food prices ‘Address supply-side shocks to check inflation’ It was another audacious response from the […]
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