Governors endorse CBN’s proposal for state’s to access N15Tn fund
Governors of the 36 states under the auspices of the Nigeria Governors Forum (NGF) have endorsed the proposal of the Central Bank of Nigeria (CBN) for states to access N15trillion for national infrastructure funding
New policy to improve Diaspora remittances starts Dec. 4, says Emefiele
The Central Bank of Nigeria (CBN), Mr Godwin Emefiele has announced that the new CBN policy to improve the Diaspora remittances into the country takes effect on Dec. 4.
Central Bank’s unholy concave with CACOVID
The Central Bank is among the most solemn institution of any country in the world because it is an unbiased umpire and policy engine that provides seasoned and reasoned roadmap to the direction of national economy...
CBN provides fresh guidelines on diaspora remittances
The Central Bank of Nigeria (CBN) has issued fresh guidelines on the management and payment of diaspora remittances to recipients, mandating the international money transfer operator (IMTO) to ensure that transfer funds are deposited in “the agent bank’s correspondent account”.
Dabiri-Erewa commends CBN for Diaspora-friendly Forex policy
The Nigerians in Diaspora Commission (NiDCOM) on Tuesday commended the Central Bank of Nigeria (CBN) for its new policy to grant unfettered access to Foreign Exchange (Forex) on Diaspora Remittances.
Increase in LDR and worry over toxic loans
There has been a renewed call for the diversification of the productive base of the economy from crude oil. This has brought agriculture and manufacturing into focus.
Parallel market responds to devaluation, as dollar trades at N500
The parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend. The Central Bank of Nigeria (CBN) had adjusted the value of the naira by N6 against the dollar on Friday. That was the third time…
GDP, production rise as manufacturers stockpile for Yuletide amid forex challenges
Notwithstanding the challenges faced by local manufacturers in accessing foreign exchange for raw materials, production activities in the manufacturing sector regained some momentum as local manufacturers prepare for consumer demand during the Yuletide.
CBN injects N25b to fund cassava value chain in 2020
The Central Bank of Nigeria (CBN), yesterday, said it is injecting N25b into the cassava value chain this year. The move, according to the Apex bank is to curb $600m spent on the importation of cassava derivatives into the country. This is just as the International Fund for Agricultural Development (IFAD) in the collaboration with…
‘Why cultivation of rice in South is imperative’
State Governors, especially in the South have been urged to promote the cultivation of rice, so as to make the product available in the region, at an affordable price. The founder and Chief Trader of Titan Farms (TF), an agro-commodity processing and trading outfit, Gbenga Eyiolawi, who gave the advice, decried the practice by some…