Economy/Business - News Agency Of Nigeria

CBN refutes scarcity of new naira notes

On: January 25, 2023

By Polycarp Auta The Central Bank of Nigeria (CBN) has denied scarcity of the new naira notes as alleged by some Nigerians. The CBN Governor, Godwin Emefiele, represented by Musa Jimoh, Director, Payment System Management Department of the bank, dismissed the allegation at a news conference on in Jos. ”TheContinue Reading

2023: Group advocates blueprint, optimum utilisation of resources for national devt.

By: Afonne Emmanuel

On: January 25, 2023

In: Economy/Business

By Kadiri Abdulrahman A new regional economic renewal movement, Arewa Economic Renewal Forum (AERF) has called on politicians to develop a blueprint for the development of the North and the nation. The Chairman of AERF, Ibrahim Yahaya, made the call at the maiden press conference of the group in AbujaContinue Reading

Expert lauds CBN for raising MPR to 17.5 %

By: Rabi'u Sani Ali

On: January 25, 2023

In: Economy/Business

By Ige Adekunle A financial expert, Dr Samuel Nzekwe, has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for raising the Monetary Policy Rate from 16.5 per cent to 17.5 per cent. Nzekwe, also a former President, Association of National Accountants of Nigeria (ANAN), gaveContinue Reading

Cabotage fund: NIMASA tasks banks on guidelines

By: Rabi'u Sani Ali

On: January 25, 2023

In: Economy/Business

By Chiazo Ogbolu The Nigerian Maritime Administration and Safety Agency (NIMASA) has issued a 72-hour ultimatum to the Primary Lending Institutions (PLIs), to release modalities for the disbursement of 350 million dollars Cabotage Vessels Finance Fund (CVFF). The PLIs approved for the disbursement of the fund are: Zenith, Polaris, UnitedContinue Reading

Private sector lauds Lagos deep seaport, rice mill

By: Lilian Okoro

On: January 24, 2023

In: Economy/Business

By Rukayat Moisemhe Members of the Organised Private Sector (OPS) have welcomed the inauguration of the Lekki Deep Seaport and Imota Rice Mill, Lagos. They described the move as capable of leading to agricultural self-reliance and the actualisation of the country’s industrialisation agenda. They spoke in separate interviewsContinue Reading

Association demands immediate end to fuel scarcity

By: Vivian Ihechu

On: January 24, 2023

In: Economy/Business

By Yusuf Yunus The National Association of Energy Correspondents (NAEC) have called on government agencies responsible for regulation and supply to immediately arrest the worsening fuel scarcity in the country. This is to justify huge public expenditure on internal subsidy. The association’s secretary, Mr John Meze, In a statementContinue Reading

Stockbrokers optimistic about Nigeria’s economic growth in 2023

By: Vivian Ihechu

On: January 24, 2023

In: Economy/Business

By Olawunmi Ashafa Some stockbrokers have assured the investing public that the economy has strong potential to bounce back in 2023. They said this at an event organised by Chartered Institute of Stockbrokers (CIS) on “The Nigerian Economic Review of 2022 and Outlook for 2023,” on Monday in Lagos. TheContinue Reading

President Buhari inaugurates 16.5 metres Lekki Deep Sea Port

By: Vivian Ihechu

On: January 24, 2023

In: Economy/Business

By Chiazo Ogbolu/Florence Onuegbu President Muhammadu Buhari on Monday inaugurated the 16.5 metres Lekki Deep Sea Port in Lagos. President Buhari, who arrived at the venue in an helicopter alongside Gov. Babajide Sanwo-Olu , cut the ceremonial tape at the port at 4.42 p.m. The President, thereafter, Continue Reading

Currency redesign policy fuels naira stability — BDCs

By: Rabi'u Sani Ali

On: January 23, 2023

In: Economy/Business

By Fabian Ekeruche The Association of Bureaux De Change Operators of Nigeria (ABCON), says that the naira redesign policy of the CBN has fuelled the stability of the naira at the parallel market. Alhaji Aminu Gwadabe, President ABCON, stated this in an interview with the News Agency of Nigeria (NAN)Continue Reading

Arab Bank to scale up intervention in Borno – DG

By: Rabi'u Sani Ali

On: January 22, 2023

In: Economy/Business

By Yakubu Uba The Director-General of Arab Bank for Economic Development in Africa, Dr Sidi Ould-Tah has reiterated the commitment of the bank to partner Borno Government for economic development. Ould-Tah made this known on Saturday during a courtesy call on Gov. Babagana Zulum in Maiduguri. Ould-Tah, who led aContinue Reading

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