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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...
UBA tops list of defaulting banks - A total of N2.05 billion was disbursed in October for seven projects under the Commercial Agriculture Credit Scheme (CACS). This is out of the N200 billion earmarked by the Central Bank of Nigeria (CBN) for onward le...
Managing the exchange, inflation and interest rates are within the purview of the Central Bank of Nigeria (CBN), and are usually determined by the fiscal behaviour of government. In this piece, STANLEY ORONSAYE examines how government’s handling ...
The House of Representatives has raised alarm over the refusal of government revenue generating agencies to remit revenue generated to the Federation Account. Expressing concerns at a crucial meeting between the House of Representatives Committee...
The Nigerian Economic Summit Group (NESG), Nigeria’s apex private sector advocacy group with commitment to fostering open and continuous dialogue on the country’s economic development, will on Tuesday October 18, 2011, host Chairman of the...
There are strong indications that Deposit Money Banks may reduce lending to firms polluting the environment.The Bankers’ Committee is currently in partnership with the Central Bank of Nigeria to work out a framework that would assist DMBs t...
Activities on the floor of the Nigerian Stock Market yesterday further plummeted by N55 billion. Market analysts attributed the downward slide to the hike in the monetary policy rate. The Central Bank of Nigeria, had on Monday increased the inter...
Finance Minister, Dr. Ngozi Okonjo-Iweala recently announces that the country was on the verge of securing a loan of $550 million from the World Bank to revamp the Agricultural Sector and also create jobs for many Nigerians. In this report, Kazeem Akin...
The Central Bank of Nigeria (CBN) has started another round of forensic investigation in seven commercial banks over alleged round tripping of foreign exchange. Round tripping is the practice of selling foreign exchange sourced from CBN at the b...
President of the Nigeria Union of Pensioners, Alhaji Ali Abatcha, said the success of the Presidential Task Team on Pension Reforms could only achieve the desired results if given a free hand to operate. The President who stated this during a telephone...
President Goodluck Jonathan has approved the construction of 765KV super-grid transmission network to address the nation’s power challenge, Minister of Power, Prof. Barth Nnaji, has disclosed. The minister made the disclosure yesterday at a speci...
Neimeth International Pharmaceutical Plc has recorded a substantial growth for the financial year ended March 31, 2011, as its profit rose to N113.08 million.This is in contrast with loss after tax of N126.13 million posted in the comparative period of...
A total of 166 non-oil indigenous firms have finalised plans to invest N1.5trillion in the Nigerian economy within the next 12 months. The Minister of Trade and Investment, Mr. Olusegun Aganga, confirmed the development during a meeting with the Agro-b...
As part of efforts to deepen trade within the Economic Community of West African States (Ecowas) , the Nigerian Export Import Bank (NEXIM) has embarked on a sea-link project that would cost a total of $61.5 million. The project is geared towards settin...
No fewer than 84,758 entrepreneurs have benefited from the Central Bank of Nigeria (CBN) through the Entrepreneurship Development Centres (EDCs) over the last four years, the CBN governor, Mallam Sanusi Lamido Sanusi, has said. The beneficiaries compri...