So far this year, the Central Bank of Nigeria (CBN) has supplied over $27.34 billion (N4.24 trillion) at the official window to meet increasing demand for foreign exchange. This figure does not include foreign exchange inflow from autonomous sources su...
Sequel to the ongoing reforms in the nation’s capital market, some market operators have agreed that the expected gains from the reforms would be much visible in 2012, just as it would lead to the growth and development of the market. They said t...
The Nigerian Meteorological Agency (NIMET) has commenced collection of inputs from experts for inputs to the 2012 seasonal rainfall prediction (SRP). Speaking at a one-day stakeholders meeting on evaluation of 2011 SRP recently in Abuja, the Director &...
The federal government as part of its efforts to bridge the nation’s housing deficit has provided a low income housing estate in Kuje, Abuja under a Public Private Partnership (PPP)arrangement. The 300 housing estate is geared towards decongestin...
The Governor of Central Bank of Nigeria, (CBN), Mallam Lamido Sanusi says the government has sold a whooping sum of $8 billion to oil marketers for the importation of petroleum product in 2011 alone adding that the economic implicatio...
The end of the year is here again, accompanied by increased importation activity at the nation’s seaports. In this report, SAMSON ECHENIM writes about the worsening current traffic situation within the ports, an indication that the authorities re...
A bill to exempt the Federal Mortgage Bank of Nigeria (FMBN), from payment of income tax has been presented to the National Assembly for consideration.The bill which was obtained exclusively by Leadership weekend yesterday, also seeks to increase the m...
The Central Bank is planning to deploy a new real time gross settlement system that meets international standard, says the Governor of Central Bank, Lamido Sanusi. Sanusi who spoke on Thursday in Abuja at a book presentation entitled, ‘The ICT Re...
Minister of Power, Prof. Bart Nnaji, has given a one-week ultimatum to Mabon Limited, the contractor handling the Dadinkowa Dam in Gombe State, a project conceived over 30 years ago, to prove its capability or have the contract terminated. The minister...
The Standards Organisation of Nigeria (SON) has closed down the Ispat Steel Company Nigeria Ltd., in Agbara, Ogun State, over alleged production and sales of substandard imported steel products. The News Agency of Nigeria (NAN) Correspondent, who accom...
Mobile telecommunications service providers are lobbying the Senate on several issues bordering on the survival of their business with multiple regulations, multiple taxations and the need to declare information and communications technology (ICT) infr...
Analysts and market players have reacted to the devaluation of the naira announced on Monday by the Central Bank of Nigeria (CBN).While the move was seen as most expedient given the current state of the economy, the underlying fact is how well Nigeria ...
Stakeholders in the country’s power industry have appraised issues of standardisation in the sector and concluded that there is need for products and services to conform to international standard to rid the industry of substandard electricity pow...
The complex interplay between the demand for petroleum products, especially kerosene and their availability to consumers has remained a problem in the country manifesting itself in scarcity, high price and adulteration which often result in explosion a...
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) yesterday tactically devalued the naira from N150.00 to the US $1.00 to N160.00 to US$1.00 and maintained the band of +/-3.0 per cent. “This means that the naira should flo...