By Sodiq Adelakun In light of the recent unification of foreign exchange rates, six Nigerian Ministries, Departments, and Agencies have earmarked a total of N244 million to mitigate anticipated foreign exchange losses. This financial strategy is detailed in the proposed…
Multichoice has jacked up the prices of its offerings in Nigeria days after announcing a $72 million loss in its financial statement for the third quarter of the year. Checks on the company’s reviewed price list showed a 20 percent…
…Promises to boost liquidity to ensure stability of prices By Matthew Denis The Central Bank of Nigeria (CBN) has restored access to forex to importers of rice, palm oil and 41 others items earlier prohibited. This was disclosed in a…
…Aims to strengthen financial stability By Sodiq Adelakun Commercial banks in Nigeria have been instructed by the Central Bank of Nigeria (CBN) to refrain from using their foreign exchange revaluation gains for dividends and operational expenses. The directive, which was…
Economic issues recently have become more windy with confusing side to the masses who just want to see the hardship of recent woes of the economy distilled for a drastic turnaround. Recently, the cost of petroleum products has made earlier…
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) have urged the Federal Government to fix bad roads and encourage private and modular refineries to enable affordable petroleum products. NOGASA also called on the government to reduce Value Added…
The total inflows into the Investors and Exporters Window rose to $2.55bn in the months of May and June, according to data obtained from the FMDQ. The data indicated that total inflows into the 1&E window increased for the second…
By Idris Bakare In a bid to ensure that cake bakers in Nigeria adhere to professional standards, the Nigerian Association of Cakes and Sugar Craft Professionals, NACSP, has called on stakeholders to ensure compliance in the quality of cake production.…
As part of its ongoing efforts to check the rising incidence of foreign exchange speculation which has brought pressure on the value of the Naira, the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa , met…
In the face of rising demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has advised Nigerians to resist the urge of succumbing to the speculative activities of some players in the…
