Nigeria’s Vice President, Prof. Yemi Osinbajo, has urged the Central Bank of Nigeria (CBN) on faster disbursement of funds to fast-track the implementation of the Economic Sustainability Plan (ESP) , including the 5 million Solar Connection Scheme and the agriculture plans. In addition, he advised the apex bank to review the foreign exchange strategy with […]
The Central Bank of Nigeria (CBN) on Wednesday disclosed the country’s payment system attracted about $500 million worth of investments between 2015 and 2020. The apex bank Governor, Godwin Emefiele, gave this hint in his address on the theme, ‘Trends in Nigeria payments system: Regulating the Fintech Digital Playing Field’, at the ongoing CBN’s 31st […]
The Central Bank of Nigeria (CBN) has issued regulatory guidelines for Nigeria’s eNaria to guide financial institutions and users on the digital currency’s transactional rules and standards. In the document titled ‘Regulatory Guidelines on the Enaira’, the apex bank stated that the guidelines shall apply to all financial institutions and users of the yet-to-be-launched Nigeria’s […]
The Lagos Chamber of Commerce and Industry (LCCI) on Tuesday commended the monetary authorities on recent policy measures adopted to manage the economy and canvassed the need for improved non-oil revenue and infrastructure development to sustain the current growth trajectory in the nation’s economy. The President of the organized private sector (OPS) umbrella body, Mrs. […]
The Central Bank of Nigeria (CBN) has reported that Nigeria spends around $2 billion annually on the importation of wheat. The apex bank’s Director, Development Finance Department, Yila Yusuf, made this disclosure, at the Wheat Conference and Stakeholder Engagement with the theme ‘Improving and Sustaining the Wheat Value Chain Development in Nigeria’ held in Abuja. […]
As Nigeria’s economy continues its growth trajectory after plunging into recession last year following devastating disruptions by the COVID-19 pandemic on key sectors, the International Monetary Fund (IMF) has reeled out key policy options which the government could explore to sustain the growth and by implication, tackle headlong the poverty level in the country. The […]
The Director-General of the Progressives Governors Forum (PGF), Alhaji Salihu Lukman, has appealed to the Federal Government to do more public enlightenment on the rising public debt stock, particularly on latest moves to borrow more from external creditors to fund the 2021 budget deficit. Lukman, who made the appeal in a statement on Wednesday, also […]
As controversies over Nigeria’s the foreign exchange (forex) market continue to rage in the public domain, the Centre for the Study of the Economies of Africa (CSEA), a leading research firm on Africa’s economic development trends, has advocated the need for the Nigerian government to boost productivity across sectors of the economy in order to […]
The Central Bank of Nigeria (CBN) has described calls for the resignation of the Governor, Mr Godwin Emefiele, over issues relating to the exchange rate of the Naira as nothing but frustration cries by those who have and are still benefitting from rent-seeking practices in the parallel forex market. Specifically, the apex bank linked the […]
A former deputy governor of the Central Bank of Nigeria (CBN), Dr. Kingsley Moghalu, on Monday lamented that the Nigerian government’s excessive involvement in economic issues remained the biggest challenge to re-positioning the nation’s economy on the path of sustainable growth. Moghalu, who expressed his views on the state of the economy during an interview […]