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Farooq

Archive by Category "News"

HomeArchive by Category "News"

ABUJA, May 15 (Reuters) – Annual inflation in Nigeria stood at 12.48 percent in April, its lowest level in more than two years and its 15th straight monthly drop, the National Bureau of Statistics said on Tuesday. It fell from 13.34 percent in March. A separate food price index showed inflation at 14.80 percent in […]

Former Vice President Atiku Abubakar has promised to partly privatise the Nigerian National Petroleum Corporation (NNPC) and allow the naira to float so as to attract more foreign investments – if elected as President. Abubakar, according to the  news agency Reuters, said: “I am also going to expand it (privatisation) to include the oil and […]

  • CBN

The Central Bank of Nigeria (CBN) says it has again injected 210 million dollars into the Foreign Exchange (Forex) market in continuation of its intervention in the sector. A statement by Isaac Okorafor, Acting Director, Corporate Communications Department, in Abuja on Wednesday, said the intervention was to enable market operators meet the requests of customers. Giving a […]

  • dollar to naira
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Oyetunji Abioye The naira is expected to remain stable, following the decision of the Central Bank of Nigeria’s Monetary Policy Committee to retain the Monetary Policy Rate at 14 per cent. The committee maintained its tight policy on interest rates to support currency. The MPC had last Wednesday kept the benchmark interest rates on hold […]

  • CBN

The Central Bank of Nigeria says commercial banks have increased the collateral requirements demanded from all business sizes on new loan applications. In its Credit Conditions Survey report for the first quarter of 2018, CBN said banks will demand more collateral in the next quarter. “More collateral requirements were demanded from all firm sizes on […]

President Muhammadu Buhari will be returning to the United Kingdom but this time around for his annual vacation. Last year, Buhari spent up to 154 days in the UK treating an undisclosed ailment. He returned to the country on August 19, 2017. Vice-President Yemi Osinbajo acted while the president was away. TheCable reports that preparations […]

A few days ago, the fallacious minister of information, the rightly named Lai Mohammed, whose first name rhymes with his life’s calling, released a so called ‘looters list’ with six names of alleged looters. After he was ridiculed by civil society, the opposition and the international community, Mr. Lai Mohammed hurriedly put out a statement […]

The threat to institute legal action against Lai Mohammed, minister of information, did not stop the federal government from releasing another list of alleged looters. After the first list containing five names was made public, Uche Secondus, chairman of the Peoples Democratic Party (PDP), gave Mohammed 48 hours to withdraw it and tender an apology. […]

As it has become common in recent years, the Federal Government spent more than it earned in the last fiscal years due to a combination of factors, IFEANYI ONUBA writes The Federal Government recorded a fiscal deficit of N2.14tn in its operations in the 2017 fiscal period, figures obtained from the Central Bank of Nigeria […]

Total loans secured by commercial banks from the Central Bank of Nigeria, CBN, stood at N27.46 trillion in six months, the CBN’s half year report on financial sector performances released on Tuesday has shown. The2017 half-year Financial Markets Activity Report, said loans came in the form of Standing Lending Facility (SLF), including the Intra-day Lending […]