The Centre for the Promotion of Private Enterprise (CPPE), a leading private sector advocacy group in Nigeria, has flawed the Central Bank of Nigeria’s Monetary Policy Committee (MPC) on its latest monetary policy decisions during its two-day meeting which ended on Tuesday in Abuja, saying that the jerking of the lending benchmark rate and others […]
President Bola Tinubu on Tuesday in Abuja launched the Expatriate Employment Levy (EEL) to facilitate home-grown skill retention and technology domestication and to balance employment opportunities between Nigerians and expatriates. Speaking at the launch of the Expatriate Employment Levy handbook, the President also said the aim is to close wage gaps between expatriates and the […]
Nigeria’s upper legislative chamber, the Senate, on Tuesday passed for second reading an amendment Bill intended to set the tenures of Central Bank Governor and Deputy Governors at a six year single non-renewable term. The upper chamber is also proposing one year notice from apex bank on any policy for the replacement of old Naira […]
….Says $26Bn Transactions Through Binance Nigeria Difficult To Trace The Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, on Tuesday disclosed that the apex bank spent over N10 trillion in interventions to different sectors of the economy over the past six years without significant results to show for such humongous expenditure. He […]
The Director-General of the World Trade Organisation (WTO), Dr. (Mrs.) Ngozi Okonjo-Iweala, has charged the federal and subnational governments in Nigeria to create improved regulatory regime as a strategic option of attracting more investments to the nation’s power sector. Okonjo-Iweala, who gave the charge on Monday in her virtual goodwill message at the inauguration of […]
…..Analysts Flaw Apex Bank’s Sustained Hawkish Policy Stance The Central Bank of Nigeria (CBN) on Tuesday raised the monetary policy rate (MPR), the benchmark lending rate, by 400 basis points to a record 22.75%, from 18.75% at its last meeting, among other decisions taken at the end of its Monetary Policy Committee’s (MPC’s) two-day meeting […]
The Central Bank of Nigeria (CBN) has adopted a new monetary measures aimed at bridging the Naira’s widening foreign exchange (FX) rate gap in the foreign exchange markets by supplying FX to licensed Bureau De Change operators in the retail market. The apex bank, in a new circular signed by its Director of Trade & […]
Ogun State Deputy Governor, Engr. (Mrs.) Noimot Salako-Oyedele, has stressed the need for the Federal Government and sub-national governments to adopt proper modalities for the demarcation of boundary lines nationwide to avoid conflicts among the people. She also harped on the need to address other socio-economic issues, including trans-border trade, cross-border integration, and adequate security […]
The Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has harped on the increasing relevance of emerging technologies to the nation’s economic growth drive as the Commission continues to strengthen its collaboration with relevant stakeholders in telecom industry to review the current operating standards and introduce new measures in accordance with […]
….As Rice Price Surges By 98.47% As Nigeria’s surging inflation rate which rose to an all-time record high of 29.90% in January this year continued to take huge toll on consumers’ real incomes, Nigerians paid higher for all categories of food items in the month under review as the average price of 1kg Rice local […]