Nigeria could be out of recession this year, says Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday, said he was “cautiously optimistic” that the country would exit recession this quarter as it continues to implement interventions in the critical areas of the economy.
Reps panel summons NNPC, CBN over alleged missing N3.2 tr oil revenue
Again, the House of Representatives has summoned the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, and Governor of Central Bank of Nigeria...
You’re terrorised by truth, HURIWA tells Emefiele
• Tasks Shehu on constitutionalism, democracy Human Rights Writers Association of Nigeria (HURIWA) has flayed Central Bank of Nigeria (CBN) Governor Godwin Emefiele for “equating promoters of #ENDSARS with terrorists”, claiming that he “is tormented and terrorised by truth.” The rights group accused him of “deviating from his core duties and statutory obligations.” HURIWA insisted:…
CBN deplores destruction of movable assets by protesters
The Central Bank of Nigeria (CBN) has warned that protesting youths might have attacked the fabrics of Nigeria’s economy, as movable assets, were used as collateral for about N2tr credits given to micro, small and medium enterprises (MSMEs) in the last three years.
CJN, CBN, 70 judges meet over enforcement of Movable Assets and Credit Reporting Acts
The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and over 70 judges will be attending an e-workshop on enforcement of Movable Assets and Credit Reporting Acts, 2017. The workshop, which holds between October 27 and 28, is organised by the National Judicial Institute (NJI), CBN,…
How monetary, fiscal managers can cooperate to cushion impact of recession
At negative 6.1% gross domestic product (GDP), economic managers have a lot of work to do to save the country from the greatest recession ever.
CBN cuts lending rate, retains others
The Central Bank of Nigeria (CBN), yesterday, lowered the Monetary Policy Rate (MPR) by 100 basis points from 12.5 per cent to 11.5 per cent. It, however, retained the Cash Reserve Ratio (CRR) at 27.5 per cent and the Liquidity Ratio at 30 per cent.
Manufacturers worry about rising inflation, access to forex for raw materials
Local manufacturers have expressed concerns about rising inflation in Nigeria, considering that prices are further spiked by challenges in supply chains, occasioned by the inability to access foreign exchange for the importation of critical raw materials.
Economic recovery: CBN reduces Monetary Policy Rate
The Central Bank of Nigeria (CBN) on Monday announced reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent.
Inflation hits 29-month high
Nigeria’s inflation rate broke a 29-month moving average to hit 13.22 percent as at the end of last month. This was contained in the Consumer Price Index (CPI) released by the National Bureau...