Economy

The Central Bank of Nigeria CBN hasannounced the sales of 10,000 dollars to each of the eligible Bureau De Change BDC operators in the country at the rate of 1,251 Naira to One dollar.  In a circular to the President of the Association of BDC Operators of Nigeria signed by the Director of Trade and Exchange Department of CBN, HASSAN MAHMUD, the BDCs are to sell to eligible end users at a spread of not more than 1.5% above the purchase price.  The CBN warned that any BDC that breaches the terms shall be sanctioned appropriately, including outright […]

The Governor of the Central Bank of NigeriaCBN, OLAYEMI CARDOSO has announcedthe allocation of 100 billion Naira and 2.15 million bags of fertilizers to the Ministry of Agriculture to cushion the effects of high prices of food in the country.  CARDOSO who revealed this yesterday during a meeting with the Minister of Agriculture and Rural Development MOHAMMAD ABUBAKAR, and the Minister of Agriculture and Food Security ABUBAKAR KYARI at the ministry’s headquarters in Abuja said they believe that providing support to farmers would help mitigate the high food prices currently bedeviling the nation.  He said the CBN has turned away from direct […]

The Enugu Chamber of Commerce, Industry, Mines, and Agriculture, ECCIMA has announced that the 35th International Trade Faire, 2024, will be held from Friday, 5th to Monday, 15th April 2024, with both local and international companies declaring interest in participating. The President of ECCIMA, ODEIGA JIDEONWO who made this known during the Chamber’s 1st Quarter Press Briefing and the 35th Enugu International Trade Fair Publicity Launch at ECCIMA house, Enugu said the fair will focus more on the Agricultural Sector as it remains a critical sector toward diversification. Speaking on […]

The leadership of the Nigeria Labor Congress has warned that it will embark on a nationwide indefinite strike should the Federal Government allow another hike in the price of petrol amid the ongoing negotiations with the government.   The Nigerian National Petroleum Company Limited NNPCL has repeatedly increased pump prices of Premium Motor Spirit PMS popularly known as petrol, since the May 29 declaration of President BOLA Tinubu that fuel […]

The Director-General of the World Trade Organization WTO, Ngozi Okonjo-Iweala has counselled incoming governors to stop depending on crude oil and diversify the sources of revenue in their respective states. Speaking during an induction organized for elected governors in Abuja, the former Minister of Finance highlighted that states that heavily depend on the monthly Federation Account Allocation Committee, FAAC would be badly affected when the country’s oil and gas no […]