ECONOMY

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele at the weekend expressed satisfaction with the Secured Transactions in Movable Assets Act (otherwise known as National Collateral Registry Act) and the Credit Reporting Act, that were recently signed into law by acting President Yemi Osinbajo, saying they would help...

...inaugurates Business Council ...with mandate to expand economic frontiers, formulate business policies Bayelsa State Governor, Hon. Seriake Dickson, has inaugurated a 22-member Bayelsa Business Council (BBC) to formulate policies aimed at attracting local and foreign investors to the state and as well shore up her revenue base. Members of the...

• N516bn released to states and FTC The Federal Government has released a breakdown of the first tranche of Paris Club refunds paid to states to date. According to a press statement by the Director of Information in the Ministry of Finance, Salisu Danbatta, a total of N516.38 billion were...

Acting President, Prof. Yemi Osinbajo, has written to the Senate, requesting approval for one billion, four hundred and ninety-two million, four hundred thousand dollars ($1,492,400,000,00) external loan. Senate President, Bukola Saraki, while reading the letter at plenary, on Tuesday, said, the loan was part of the federal government’s external borrowing...

The Senate on Tuesday said that policies of the Central Bank of Nigeria (CBN) and activities of commercial banks are strangulating Small and Medium Enterprises (SMEs) in the country. The upper chamber also claimed that a cartel has effectively taken over the control of commercial banks in the country to...

The Nigeria’s unemployment situation got worsened by 4.2 percent at the end of 2016, As against the figure of 10.0 per cent at the end of fourth quarter of 2015, the figure came to 14.2 per cent at the end of 2016. The National Bureau of Statistics (NBS) revealed this...

The foreign reserves dropped by $535 million in one month following Central Bank of Nigeria’s (CBN) rapid intervention in the foreign exchange market. According to data from CBN’s website, foreign reserves opened in the month of May at $30.86 billion and close the same month at $30.3 billion, a decline...

Nigeria's foreign exchange reserves fell to $30.49 billion as of May 25, the lowest level since April 18 and down 0.87 percent from a month ago, central bank data showed on Wednesday. The forex reserves were up 15.27 percent year-on-year, the data showed The country’s economy believed to be the...

The Presidential Enabling Business Environment Council (PEBEC) has opened registration for the first edition of #PEBECHack, a series of Hackathons designed to solve problems at the intersection of government processes and regulations, and the ease of doing business in Nigeria. According to a press statement by the Coordinator, EBES, Dr...

The total value of capital imported into Nigeria in the first quarter of 2017 was estimated to be $908.27 million. According to National Bureau of Statistics (NBS), although this was an increase of 27.75 per cent relative to the same quarter of 2016, it was nevertheless 41.36 per cent- smaller...