With just less than one week to the end of his eight-year tenure, President Muhammadu Buhari has written a letter to the National Assembly, seeking the Senate’s approval for the payment of sundry judgment debts in the sum of $566,754,584.31, £98,526,012.00, and N226 billion The requested funds are the monies which the Federal Government owed […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has projected that the commencement of operations of the Dangote Refinery had the potential of saving Nigeria over $25 billion in foreign exchange (FX) in energy imports and provide $10 billion as exports. Emefiele, who made this forecast on Monday during the commissioning of the […]
A Partner and Chief Economist at KPMG Nigeria, Dr. Yemi Kale, has expressed some concern about plans by the Federal Government to get $800 million loan from the World Bank and disburse it as fuel subsidy palliatives given the potential negative effects on the nation’s economy. The seasoned economist, who is also a former Statistician-General […]
The Nigerian Senate on Wednesday approved N22.7 trillion spent by the executive arm of government as Ways and Means borrowings from the Central Bank of Nigeria (CBN) without the initial approval of the National Assembly. Ways and Means is a loan facility through which the CBN provide loans to the government to bridge the yearly […]
….As Buhari Tasks Firm On Protection Of Environment The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday spudded the Ebenyi-1 oil well located in Obi Local Government area of Nasarawa State as part of the Federal Government’s drive for oil and gas exploration and production in the frontier basins across the country. In his […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading economic think-tank in Nigeria, estimated the protracted acute cash scarcity has cost the country over N20 trillion even as the negative impacts on households and ordinary Nigerians cannot be quantified in monetary terms. The Centre’s Chief Executive Officer, Dr. Muda Yusuf, in a statement […]
President Muhammadu Buhari has urged the world’s developed countries to grant duty-free and quota-free market access for exports from the world’s 46-least developed countries (LDCs) in order to promote fairness and boost the global merchandize trade. Buhari, who was quoted as making the call in a statement by his media aide, Garba Shehu, during the […]
The Centre for the Promotion of Private Enterprise (CPPE) had described the Supreme Court ruling on the use of the old currency Naira notes as legal tender as commendable and expressed the hope that President Muhammadu Buhari, the Central Bank Governor and the Attorney General of the Federation would comply with the court order in […]
.…..Nullifies CBN’s Naira redesign policy The Supreme Court on Friday ruled that Nigerians can continue to spend their old N200, N500 and N1,000 notes until 31 December, 2023. With the ruling, the apex court has invalidated the subsisting President Muhammadu Buhari’s pronouncements and the Central Bank of Nigeria’s (CBN’s) directives on the cash swap […]
The Supreme Court on Wednesday ordered the Central Bank of Nigeria (CBN) to suspend its current old banknotes’ withdrawal drive aimed at completely withdrawing old Naira notes from circulation effective from this Friday, February 10, nationwide. The apex bank’s ruling was sequel to a suit filed by governors Nasir El-Rufai (Kaduna), Yahaya Bello (Kogi) and […]