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By admin On 1 Feb, 2017 At 01:09 AM | Categorized As Economy | With 0 Comments

Nigeria’s external reserves rose to a 10-month high of $27.88 billion as at January 26, 2017, according to latest data by the Central Bank of Nigeria (CBN). This is just as the gap between the interbank and parallel end of the foreign exchange market continued to widen. The country’s external reserves rose 8.39 percent to […]

By admin On 31 Jan, 2017 At 12:48 AM | Categorized As Economy | With 0 Comments

The Niger Delta Development Commission (NDDC) has reaffirmed its commitment to making the commission’s systems and processes more transparent for sustainable development of the Niger Delta region. This was contained in a 21-point focus set out at the board’s inaugural meeting in Port Harcourt, Rivers State last Thursday as strategic to regional development. NDDC Chairman, […]

By admin On 31 Jan, 2017 At 12:43 AM | Categorized As Economy | With 0 Comments
Nigeria Customs Service

The Nigerian Customs Service (NCS) in Ikeja, Lagos, has arrested three men identified as Oscar Okafor, Mahmud Hassan and Sadique Mustapha for the unlawful importation of 49 boxes containing 661 pump action rifles which were concealed in a container conveying steel products and other merchandise goods. The Comptroller General of Customs (CGC), Col Hameed Ali […]

By admin On 22 Dec, 2016 At 01:48 AM | Categorized As Economy | With 0 Comments

The Presidential Amnesty Programme has successfully graduated 97 delegates in advanced farming methods from the Bio-resources Development Centre, Odi, Bayelsa State. The ex-agitators who are now ambassadors to the country recently embraced the President Buahri’s Green Nigerian Project. They are part of the first batch of one hundred delegates deployed in November at the start […]

By admin On 30 Sep, 2016 At 01:25 AM | Categorized As Economy | With 0 Comments
World BanK

The World Bank has sanctioned Nigeria’s tight monetary policy environment, saying it would help stabilise the naira, strengthen real interest rates, and encourage a return of international investment in the economy. The Bank also stated that Nigeria’s exchange rate adjustment which was effected in June this year, coupled with the modest improvement in oil prices […]

By admin On 26 Sep, 2016 At 01:49 AM | Categorized As Economy | With 0 Comments
Naira  and Dollar  notes

The broad effects of low oil prices and production disruptions, which have resulted in a significant reduction of foreign exchange earnings, have raised concerns about some banks’ ability to honour their Eurobond obligations upon maturity. Some of the offshore funds that were raised by the banks to expand operations and finance foreign currency infrastructure projects […]

By admin On 21 Sep, 2016 At 01:09 AM | Categorized As Economy | With 0 Comments
Akinwunmi Ambode

The Lagos State governor, Mr. Akinwunmi Ambode yesterday said the menace of cultism and kidnapping currently sending jitters down the spine of many Lagos residents will no longer be tolerated in the state. Ambode who said this while commissioning the newly constructed Omo Alade Alafia and Oloruntoyin/Jebina Streets in Bariga Local Council Development Area, charged […]

By admin On 14 Sep, 2016 At 01:04 AM | Categorized As Economy | With 0 Comments

The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the country in […]

By admin On 2 Sep, 2016 At 01:17 AM | Categorized As Economy | With 0 Comments
President Muhammadu Buhari

As Nigeria’s economy entered into a recession, following a contraction of the gross domestic product (GDP) growth rate of 2.06 per cent in the second quarter of 2016 as confirmed by the National Bureau of Statistics (NBS), the country will need to henceforth undergo painful reforms for it to come out of the crisis. This […]

By admin On 1 Sep, 2016 At 05:09 AM | Categorized As Economy | With 0 Comments

MMM has over 10 safety nets which will never make it crash. And you Never notice But I will mention 10 out of them. *1, Pause mode* *2, 14 days defrost* *3, Extension of the getting help hours* *4, Seeking help from neighboring country* *5, No central account attached* *7, Peer to peer system* *8, […]

By admin On 30 Aug, 2016 At 01:24 AM | Categorized As Economy | With 0 Comments
Pat Utomi

A renowned political economist, Professor Pat Utomi, has described the recession presently facing Nigeria as a golden opportunity and not a problem, saying it is an opportunity to finally get the Nigerian economy right. Utomi who spoke during the ground breaking ceremony of Integrated Produce City (IPC), a private initiative championed by him and other […]

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