ECONOMY

Consistent with its thought leadership position and as part of its commitment to drive growth and develop capacity in the SME segment, the Chairman, First Bank of Nigeria Limited, Mrs. Ibukun Awosika will play host to over 50 technology companies at the FirstBank Tech Startup Conference, tagged “Let’s Talk Tech”,...

  The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigerian National Petroleum Corporation (NNPC) withheld $12.9billion revenue between 2005 and 2013. The Executive Secretary of NEITI, Mr. Waziri Adio who disclosed this on Friday during a visit to the Chairman of the Economic and Financial Crimes Commission...

Nigeria Customs Service (NCS), has no authentic statistics of the industries and factories operating in the country due to the past government policies. It was learnt that government policy had de-excising industry in  the country. Miffed by this, the Comptroller General of the service, Col  Hameed Ali (rtd), told stakeholders...

The delay by the Central Bank of Nigerian (CBN) over deciding the direction of its currency has forced Danish group Sydinvest to suspend its Africa-focused fund, the group has announced. According to agency reports, the Sydinvest Afrika fund, which is managed by Nicolaj Jeppesen, was formally closed to investors on...

The International Monetary Fund (IMF) said on Thursday that it welcomed the decision by the Central Bank of Nigeria (CBN) to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important to reduce fiscal and external imbalances. IMF spokesman Gerry Rice told a weekly news...

Full speech of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, at the press briefing today in Abuja at the unveiling the broad framework and guidelines of the flexible exchange rate for the Naira. Good afternoon distinguished members of the press, ladies and gentlemen welcome to the...

Nigerian Infrastructure Fund (NiFund), has launched the Nigerian Infrastructure Fund has resolved to raise $2 billion for infrastructural development in Nigeria. Nigeria’s rapid growth and urbanization has resulted in enormous demand for sound and sustainable infrastructure development throughout the country. NiFund is an investment management company targeting investment opportunities in...

By Niyi Jacobs The Central Bank of Nigeria (CBN) said it will allow the naira exchange rate to be market-driven, setting the stage for a devaluation of the currency when the new system comes into effect on Monday, June 20, 2016. The apex bank plans will select a group of...

Annual inflation in Ghana increased to 18.9 percent in May of 2016 from 18.7 percent in April. The rise of 0.2 per cent is said to be mostly due to a 5 per cent jump in cost of fuel early in the month. Food and housing and utilities which were...

States in the federation have been advised to see Internal Generate Revenue (IGR) beyond the traditional confines of taxes, licences and fees and instead each should identify their areas of comparative advantage. Minister for Finance, Mrs Kemi Adeosun who gave the advice in Abuja today in her welcome address at...