By Abdulwarees Solanke The mixed reactions that greeted the recent cash withdrawal limit policy proposal by the Central Bank of Nigeria (CBN) are understandable. This is because it hits a value system of liquid cash dependence. But it is not a new policy. About a decade ago, the Apex bank had come up with the […]
By Our Correspondent The Upper Chamber of the National Assembly, on Tuesday, postponed the hearing of the report on the Cash withdrawal policy by the committee on Banking and Financial Institutions. The Senate had last week commissioned the committee to grill the two newly re-appointed deputy governors of the Central Bank of Nigeria during their […]
Oil extended gains, on Tuesday, on supply disruptions and as COVID restrictions eased in China, the world’s largest crude importer. Brent crude futures were up 90 cents, or 1.15 per cent, to $78.89 per barrel by 1020 GMT. on the other hand, the U.S. West Texas Intermediate (WTI) crude futures gained 67 cents or 0.92 […]
By Our Correspondent Mr Godwin Emefiele says the Central Bank of Nigeria (CBN) has already disbursed new naira notes to various commercial banks. Emefiele made the declaration on Thursday, after a visit to President Muhammadu Buhari in Daura, Katsina State. He noted that banks would begin to distribute the new notes to the public […]
The Federal Inland Revenue Service (FIRS) and Civil Society Organisations (CSO) have called for deliberate measures to curb revenue leakages so as to boost tax generation in the country. They made the call at a National Tax Conference organised by International and National Civil society organisations (also known as) Tax Justice and Governance Platform in […]
By Our Correspondent The naira on Wednesday exchanged at 445.83 to the dollar at the Investors and Exporters window, depreciating by 0.01 per cent. This is against the N445.80 to the dollar it exchanged on Tuesday. The open indicative rate closed at N444.25 to the dollar on Wednesday. An exchange rate of N452 to the […]
By Our Correspondent The Director-General of the Debt Management Office, Ms Patience Oniha, says Nigeria’s public debt stock is growing out of sustainability. Oniha, made the declaration at the annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN), weekend in Lagos. She said that Nigeria was now facing the risk of being unable […]
By Our Correspondent The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has supported 90 entrepreneurs in the Federal Capital Territory (FCT) with equipment to promote youth engagement in productive ventures. The Director-General of SMEDAN, Mr Olawale Fasanya, announced this at the closing ceremony of a four-day National Skills Development Initiative (NBSDI) held at […]
By Oluwashina Iyanda The Nigerian economy sustained its growth performance in the first half of 2022 as its real gross domestic product (GDP) grew by 3.11 per cent from 0.51 per cent in the corresponding quarters of 2021. This is contained in the Half-Year-Activity Report of the Financial Department of the Central bank of Nigeria […]
By Our Correspondent The Independent Petroleum Marketers Association of Nigeria (IPMAN) has attributed import bottlenecks and showering foreign exchange challenges to the current scarcity of petrol. Mr Mike Osatuyi, the Operations Controller of lPMAN, announced this to newsmen in Lagos on Sunday. Osatuyi said this became necessary to inform the general public against the backdrop […]