CBN

The Nigeria Employers’ Consultative Association (NECA) has said the Central Bank of Nigeria’s adjustment of naira exchange rate from N360/dollar to N380/dollar at the Secondary Market Intervention Sales (SMIS) will result in inflation.

National chairman of the Peoples Democratic Party, PDP, Prince Uche Secondus, has chided President Muhammadu Buhari and the All Progressives Congress, APC, for what he called the overburdening of Nigerians with taxes and tariffs since assuming office in 2015.

Shortage of forex in the economy caused the naira to fall below the official rate of by 3.5 per cent to N380/$1 from N360/$1 according to the Central Bank of Nigeria.

BUA Group, through its philanthropic arm, BUA Foundation, has donated six ambulances, food supplies and N100 million each to Rivers and Kwara states.

Dr Titus Okunronmu,a former Director, Budgetary Department, Central Bank of Nigeria (CBN) has urged the Federal Government to resuscitate all the nation’s refineries towards addressing the problem of fuel importation.

Nigerian stocks closed the first half down with average loss of 8.80 per cent, equivalent to net capital depreciation of N1.14 trillion as investors struggled with a threesome of domestic macroeconomic uncertainties, global decline in crude oil price and trade wars and the ravaging COVID-19 pandemic.

An Economic and Financial Crimes Commission (EFCC) prosecution witness, Abiodun Audu, in the ongoing trial of internet celebrity, Ismaila Mustapha, also known as Mompha, yesterday denied ever meeting him in the course of filing his company’s tax return.

The Federal Inland Revenue Service (FIRS) has generated the sum of N66 billion from stamp duties between January and May.

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.

The Central Bank of Nigeria, CBN, yesterday revealed its readiness to partner the private sector in its quest to tackle novel coronavirus, COVID-19 pandemic, as Lagos State commissions an ultra-modern disease isolation centre in Yaba.

The Private Sector led Coalition Against COVID-19 (CACOVID) has donated a 150-bed isolation centre and medical equipment worth millions of naira to the Lagos State Government.

The Petroleum Products Pricing Regulatory Agency (PPPRA), Sunday, insisted that it would continue to regulate the downstream petroleum industry, irrespective of the recent deregulation of the sector, to prevent petroleum products marketers from exploiting consumers and also to enforce the appropriate laws guiding the industry.

The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian economy away from the looming recession due to the impact of COVID-19.

In its resolve to boost agricultural production to enhance food security, Bauchi State government says the arrangement is to access N10 billion commercial agricultural credit scheme from the Central Bank of Nigeria (CBN).

President of Dangote Group, Aliko Dangote, has said that despite the challenging economic situation in 2019, Dangote Cement was able to sustain 54,000 jobs in four African countries, where the company has its operations. The countries are Nigeria, Ethiopia, Senegal and South Africa.

The Federal Government Tuesday, disclosed moves to salvage food production with a new agricultural programme, Agric for Food and Jobs Plan, AFJP, in 12 months that would mitigate effects of novel Coronavirus, COVID-19, pandemic, in the sector.

Dr Hassan Mahmud, Director, Monetary Policy Department, Central Bank of Nigeria (CBN), on Tuesday advised West African countries affected by COVID-19 pandemic to look inward and use their domestic resources to revamp their economies.

President Muhammadu Buhari has been called upon to urgently ensure funds are made available to farmers for them to procure seedlings, chemicals and all other necessary materials during the planting season.