The rising trade tension between the United States and China, is benefitting Nigeria, as it is currently boosting the price of crude oil in the international market. By the development, the country is not only increasing its stock of foreign exchange reserves, but also boosting the strength of the local currency, as confidence on the…

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele yesterday said the country’s failure to tackle its high rate of unemployment, may lead to another recession sooner than later. Emefiele stated this while delivering the third eminent lecture series titled: Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty, at the University of…

Although the Central Bank of Nigeria (CBN), on Monday, kept all its monetary policy tools steady, including the benchmark interest rate at 13.5 per cent, the decision to hold the rates may be the beginning of another round of a long wait for policy changes by the apex bank.   The Head of Research at…

Shareholders have bemoaned the huge fines slammed on Nigerian banks by the regulatory authorities as penalty for various contraventions during the 2018 financial year. 

Commentary on the Foreign Exchange (FX) market with data for the week-ended May 17, 2019. ▪ The Central Bank of Nigeria (CBN) intervened through its periodic supply of United States (US) dollars in the FX market, offering a total of $100.00 million to the Secondary Market Intervention Sales (SMIS) Wholesale window on May 14, 2019.…

Arise Nigeria, an Association of Nigerians in Europe (ANE), has commended President Muhammadu Buhari for reappointing Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN). This commendation follows reactions in and outside of the country, just as the group said the decision was the final victory over ethnic and religious bigotry. Association of…

Alban William Housego Phillips, a New Zealand born economist, whose name was attached to post-war economics, was popularised by the term, “Phillips Curve”. The curve was all about establishing a relationship between inflation and unemployment rates. In other words, how much of inflation is needed to spur growth. His work really showed that there was…

Central Bank of Nigeria (CBN) Governor Godwin Emefiele yesterday advocated sustained effort at boosting the country’s gross domestic product (GDP) against its rising population. He cautioned that the country may face greater economic and social challenges anytime the population growth exceeded local production, stressing that policy makers should double their efforts in this regard. He…

Worried by continued disregard of federal government guidelines to its ministries, departments and agencies to host their data in the country, stakeholders in the data security ecosystem have urged the federal government to enact an act of parliament to support its guideline to ensure its full adherence. This is coming against the backdrop of a…

In line with the commitment to grow the Nigerian economy through the revival of Agriculture as the major economic catalyst, the Central Bank of Nigeria (CBN), in partnership with Unity Bank, and the National Cotton Association of Nigeria (NACOTAN), has flagged off the distribution of seeds/inputs supplies to cotton farmers for the 2019 planting season. The distribution is part of the…

The Central Bank of Nigeria (CBN) and 14 other banks out of the 17 ordered by an FCT High Court to show cause why plea for garnishee of alleged accounts operated by Imo Government should not be made absolute, had denied overseeing the state’s accounts. The denials were contained in the respondents briefs filed by…

The Deputy Governor (Operations) of the Central Bank of Nigeria (CBN), Adebisi Shonubi, yesterday called for the enabling infrastructure...