“We have a lot of able-bodied young people willing to work and agriculture is the answer. We have a lot to do to support our farmers".Continue Reading
Meanwhile, Central Bank of Nigeria (CBN) has announced that it would resume dollar sales to bureau de change operators.
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Consequently, all deposit money banks are hereby informed that effective September 1, 2020 interest on local currency savings deposits shall be negotiable subject to a minimum of 10% per annum of Monetary Policy Rate.Continue Reading
According to CBN, the move was in line with a directive of the Power Sector Coordination Working Group to improve payment discipline in the Nigerian Electricity Supply Industry (NESI) and to boost the overall quality of electricity generation, transmission and distribution.Continue Reading
The CBN Governor further alleged that the activities of the firms and an individual identified as Adekunle Olusola Alonge, are “the cause of the current volatility and imbalance in the foreign exchange regime in Nigeria with the attendant negative impact on the economy.”Continue Reading
Okey Umeano, the Securities and Exchange Commission Head, Office of the Chief Economist, said the inflation rate figure was driven by several factors such as exchange rate scarcity, scarcity of certain goods due to lockdown, border closure and general poor state of the economy.Continue Reading
“The financial system has been abused and it is baffling that one man would be owing six banks in the same country; it can’t happen anywhere else", Former President, Trade Union Congress, Peter Esele said.Continue Reading
"Authorised Dealers are hereby directed to discontinue the processing of Forms M for the importation of Maize/Corn with immediate effect,” the CBN said in a circular signed by it's Director of Trade and Exchange Department, Ozoemena Nnaji.Continue Reading
“This will give such people an opportunity to access the finance so the emphasis should be how genuine is their request and the capacity and cash flow of the business to make the required returns,’’ Emmanuel Atama, the Executive Secretary of CFAN said.Continue Reading
