President Muhammadu Buhari says his administration is working hard to reposition the Nigerian economy as one of the best in the world. President Buhari made this known during the fourteenth Annual Banking and Financial Conference in Abuja. The President said the Covid-19 pandemic has offered Nigeria an opportunity to benefit from other emerging sectors, like the digital…
The Central Bank of Nigeria has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent practices to obtain foreign exchange from banks. The apex bank issued the directive in a circular signed by its Director in the Banking Supervision Department, Haruna Mustafa. Mustafa outlined the…
The Consumer Price Index, which measures inflation dropped further to 17.38 % in July 2021. This is 1.37 points lower than the rate recorded in June 2021. The National Bureau of Statistics disclosed this in its Consumer Price Index report for June. Meanwhile, food inflation dropped to 21.0 from 21.8 recorded in the previous month.
President Muhammadu Buhari has signed the Petroleum Industry Bill into law, more than six weeks after it was passed by the Senate and the House of Representatives. The legislation is now known as the Petroleum Industry Act, and it provides legal, governance, regulatory and fiscal framework for the petroleum industry. President Buhari signed the new law from…
Nigeria’s External Reserves has continued to drop, losing nine hundred and five point five million US dollars in the month of June. Information credited to the Central Bank of Nigeria shows that Nigeria’s Foreign Reserve stood at thirty-three point three-two billion dollars as at June 30. The External Reserves was put at thirty-six point seven-three billion dollars…
The National Economic Council has backed the position of the Minister Finance on the alleged printing of more than fifty billion naira to make up for shortage of allocations for the month of March. The claim was made recently by Governor Godwin Obaseki of Edo State, but the Finance Minister, Zainab Ahmed, said it was false. The…