CBN To Mint Gambia’s currency,Dalasi

The Central Bank of Nigeria (CBN) has agreed to mint the Gambian Dalasi in principle. Mr. Godwin Emefiele, the Governor of the Central Bank of Nigeria, consented to the currency minting proposal made by Mr. Buah Saidy, the Governor of the Central Bank of Gambia, who led a delegation to meet him on Tuesday. Mr. Emefiele stated that Nigeria has a lot of currency production … Continue reading CBN To Mint Gambia’s currency,Dalasi

Investments In FG’s Treasury Bills Weaken, Sales Fall 19% To N1.35trn

Investors’ interest in the Federal Government’s monetary instrument, the Nigeria Treasury Bill (NTB) has recorded a significant decline with 19 per cent, year-on-year, YoY, decline in sales to N1.35 trillion in the first five months of this year. Money market dealers have attributed the development to the rebound in both yields and volume in the Open Market Operation, OMO, of the Central Bank of Nigeria, … Continue reading Investments In FG’s Treasury Bills Weaken, Sales Fall 19% To N1.35trn

PDP Chides Buhari, APC with misrule, says APC is irredeemable

The Peoples Democratic Party (PDP) says that the All Progressives Congress (APC) will have no place in the post-Buhari Nigeria, given the resolution by Nigerians to return the nation to the path of peace, unity and economic prosperity, which can never be attained if a party like APC is allowed to govern beyond 2023. The PDP notes that President Muhammadu Buhari’s efforts to launder the … Continue reading PDP Chides Buhari, APC with misrule, says APC is irredeemable

PDP Governors Forum alarmed at the lack of transparency by the FG in the management of national resources( Full Text of Communique)

… Frowned at the uncontrollably high debt profile COMMUNIQUE ISSUED AT THE END OF THE MEETING OF THE PDP GOVERNORS’ FORUM HELD ON 14TH JUNE 2021, AT UYO, AKWA IBOM STATE. The PDP Governors’ Forum held a meeting on 14th June, 2021 at Uyo, Akwa Ibom State, where it once again reviewed the state of the nation. The meeting deliberated in particular on the deteriorating … Continue reading PDP Governors Forum alarmed at the lack of transparency by the FG in the management of national resources( Full Text of Communique)

CBN team inspects Lagos Red/Blue line rail projects

A Central Bank of Nigeria (CBN) team on Thursday visited the Red/Blue Rail Line Projects being constructed by the Lagos State Government, through the Lagos Metropolitan Area Transport Authority (LAMATA), and financed under the Real Sector Support Facility (RSSF) – Differentiated Cash Reserve Requirement (DCRR) of Central Bank of Nigeria’s Intervention Loan Facility. The Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Mrs. Abimbola Akinajo, … Continue reading CBN team inspects Lagos Red/Blue line rail projects

Reps threaten to sanction CBN Governor, NIMASA DG, NSA

The House of Representatives on Monday threatened to invoke the relevant sections of the Nigerian constitution to deal with Head of government agencies that has formed the habit of disregarding invitations from the parliament. The House adhoc committee investigating the management of recovered loots by government agencies made the threat at its resumed sitting, insisting that disregard to invitations from the parliament was a direct … Continue reading Reps threaten to sanction CBN Governor, NIMASA DG, NSA

Dangote Fertilizer to Hit Nigerian Market Monday

Dangote Industries Limited says its three million metric tonnes granulated urea fertilizer plant is now completed and its products will flood the Nigerian market from Monday. Alhaji Aliko Dangote, Chairman, Dangote Group, made the disclosure on Friday, as the Central Bank Governor, Mr. Godwin Emefiele, came on a final inspection tour of the facility in Ibeju-Lekki, Lagos. Emefiele was in company with five senior bankers … Continue reading Dangote Fertilizer to Hit Nigerian Market Monday

FG Assures UK Businesses Of Support

The Federal Government has assured United Kingdom companies operating in Nigeria of its support in ensuring that they thrive even in the face of dwindling foreign exchange earnings. It also vowed to create the enabling environment for them to carry out their businesses unhindered. Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo and the governor of the Central Bank of Nigeria (CBN), Mr Emefiele … Continue reading FG Assures UK Businesses Of Support

External reserves dropped by $640m in May – CBN

The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating in recent weeks. Speaking on the decline at the recent Monetary Policy Committee meeting, the CBN Governor, Godwin Emefiele, said, “This reflects sales to the foreign exchange market … Continue reading External reserves dropped by $640m in May – CBN

N200bn social housing facility ready for disbursement – Presidency

The Presidency says the N200 billion facility set aside for the social housing scheme is ready for disbursement. Laolu Akande, senior special assistant on media and publicity to Vice-President Yemi Osinbajo, announced this in a statement, on Sunday, in Abuja. The scheme launched under the National Social Housing Plan (NSHP) targets 300,000 houses across the country, targets low income earners is part of government’s economic … Continue reading N200bn social housing facility ready for disbursement – Presidency