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Farooq

Archive by Category "News" (Page 2)

HomeArchive by Category "News" (Page 2)
  • CBN
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Kunle Aderinokun and Obinna Chima in Bali, Indonesia The federal government yesterday insisted that Nigeria was not in any way near a debt crisis. Also, as part of efforts to enthrone transparency in the Nigerian National Petroleum Corporation (NNPC), the government disclosed that in the next few days, a new reporting template would be introduced […]

Meanwhile, Emefiele said there was no cause for alarm owing to the recent decline in the country’s external reserves. He, however, stressed that even though there was need to build buffers, “unfortunately I must say that we are in a period where it is difficult to talk about building reserve. “It is a choice we […]

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. […]