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NAFDAC: Herbal, traditional medicine potential foreign exchange earners

The National Agency for Food and Drugs Administration and Control (NAFDAC) has said that sensitising herbal and traditional medicine practitioners on best practices would make the trade earn foreign exchange for the country.
yemi osinbajo

Yemi Osinbajo: We are consulting on Africa continental free trade agreement

Prof. Yemi Osinbajo, the Vice President and the running mate of the All Progressives Congress (APC) presidential candidate said that the APC led federal government was consulting with key stakeholders before signing the Africa Continental Free Trade Agreement.

Central bank bans use of forex for fertiliser importation

The Central Bank of Nigeria (CBN) on Monday, added fertiliser to the list of items classified as “Not Valid for Foreign Exchange.”

CBN vows to clamp down on businesses, banks that abuse Forex on 42 restricted...

The Central Bank of Nigeria (CBN) on Monday vowed to clamp down on individuals and businesses engaging in clandestine activities to frustrate the restriction of foreign exchange on the importation of 41 items into the country.

Central bank assures manufacturers, farmers of more support in 2019

Central Bank of Nigeria (CBN) says local manufacturers and farmers will be sufficiently supported financially and otherwise in 2019

Federal government urged to meet oil marketers to ensure petrol availability during Yuletide

A financial expert, Tony Edeh, has urged the Federal Government to resolve issues with oil marketers to ensure availability of fuel during the Yuletide.
Tito Mboweni

South Africa exits recession ahead of 2019 polls

South Africa broke free of recession on Tuesday when it reported GDP growth of 2.2 per cent for the third quarter, the statistics authority said, marking a positive economic trajectory ahead of elections.

LCCI: Falling oil prices pose risk to forex market, new minimum wage

The Lagos Chamber of Commerce and Industry (LCCI) has warned that the declining global oil prices pose a risk to stability in the foreign exchange market and may threaten the ongoing negotiation on the new minimum wage.
Diamond Bank

Central bank grants Diamond Bank national licence

The Central Bank of Nigeria (CBN) has granted Diamond Bank approval to operate as a national bank with immediate effect.
Aliko Dangote, president of Dangote Group, says the conglomerate’s revenue base will hit $30 billion by 2020 — a feat he would have considered impossible 10 years ago.

Aliko Dangote steps up investments in agriculture

The President of Dangote Group, Aliko Dangote, has said the current effort of the Federal Government at diversifying the economy to an agriculture-centered one remains the viable solution to creating a healthy economy.

Central bank reads riot act to banks, firms, individuals over banned Items

It is not going to be easy for banks, companies and individuals behind activities aimed at undermining the extant policy on the 41 items banned from accessing foreign exchange at the official window of the Central Bank of Nigeria (CBN), as it is now declared economic sabotage.

Central bank to sanction banks, companies that sabotage 41 items policy

The Central Bank of Nigeria (CBN) has threatened to sanction any bank, company or foreign exchange operator that engage in any act that undermines the policy of 41 items not allowed in the official foreign exchange (FX) window.

Forex: Central bank injects $210 million in wholesale segment, others

The Central Bank of Nigeria (CBN) on Tuesday intervened in the wholesale segment of the foreign exchange market, offering the sum of $100 million to dealers in that window.

Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.

The wrong way to defend the naira

The Central Bank of Nigeria has injected over $10.97bn, into the Forex Market between January and October this year, to defend the Nation’s currency, the Naira, against other major currencies, including the dollar.” (See Punch Newspaper report of November 18th 2018 titled “CBN Defended Naira with $11bn in 10 months”).

Slump in oil price threatens government’s economic forecast

The downward slide of crude price may hamper current economic prospects in the country, particularly if the development refuses to abate, oil and gas analysts have said.
President Buhari receives in audience Deputy Senate President and South East Governors in State House on 21st Nov 2018-2

2019: You can’t sway South East with fake promises – PDP tells Muhammadu Buhari

The Peoples Democratic Party (PDP) has told President Muhammadu Buhari that Nigerians are no longer interested in fake promises and false performance claims, now that elections are around the corner.

Central bank injects $318.03m into forex market

The Central Bank of Nigeria (CBN) on Friday said it injected about $318.03 million into the retail secondary market intervention sales (SMIS) of the inter-bank foreign market.

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Adamawa Assembly passes four bills into law

The Adamawa House of Assembly on Wednesday passed four Bills into law.

Gunmen kill pastor as police arrest 5 for killing lady in Onitsha

Police in Anambra Sate have arrested five persons allegedly for killing a 35-year-old woman, Gold Gift, dumping her body at Dennis Memorial Grammar School (DMGS) roundabout, in Onitsha.

LASEMA: No lives lost in Abule Egba pipeline explosion

The Lagos State Emergency Agency (LASEMA) said no lives were lost at the fire outbreak which occurred at Abule Egba in Ojokoro Local Council Development Area of Lagos State on Wednesday.
President Muhammadu Buhari has lauded Nigerians for curbing excessive taste for foreign products, which has positioned the country for food self-sufficiency, and resulted into savings of over $21 billion.

Center wants Muhammadu Buhari to sign Disability Bill Act into law

The Centre for Citizens with Disabilities, CCD, has called on President Muhammadu Buhari to sign the Disability Bill Act into law to reduce the burden faced by People With Disabilities (PWDs) in the country.

Adams Oshiomhole: I hope National Assembly won’t distort 2019 budget as presented

National Chairman, All Progressive Congress, Adams Oshiomhole, on Wednesday expressed hopes that the National Assembly won’t ‘distort the 2019 budget’ as presented.