CBN Injects $210m Into Forex Market

As part of efforts to ensure stability in the foreign exchange market, the Central Bank of Nigeria (CBN) has injected the sum of 210 million dollars into the Nation's inter-bank Foreign Exchange Market. The disclosure was made by the apex bank’s Director of Corporate CommunicationsMr Isaac Okorafor in a statement in Abuja. 

Minimum Wage: Labour, FG Resume Negotiation

The General Secretary of the Nigeria Labour Congress, Dr Peter Ozo-Eson, on Saturday said the Federal Government and labour representatives on the technical committee set up to negotiate consequential increase arising from the new minimum wage would resume negotiation this week.

Recapitalization: TCN set to waive N270bn of Disco’s debts

The Distribution Company of Nigeria (Disco’s) currently owes Transmission Company of Nigeria (TCN) a sum of N270 billion accumulated energy debt while the TCN is set to forgo this debt in order to help the Discos to recapitalize and save it from its imminent collapse.

Reps Set To Audit Abandoned FG Projects From 1999 Till Date

The House of Representative is set to audit all abandoned federal government project initiated since the year 1999. The Reps members revealed there were over 20,000 projects scattered across the country that are worth billions of Naira that were abandoned by contractors even as they have collected over 50 percent of the contract sum from the government.

CBN Predicts Lower Food Prices in 2019 Harvest Season and Retains 13.5% Interest Rate

Nigeria's Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has affirmed its stance of holding the monetary policy rate at 13.5%.
While briefing journalists at the end of the committee’s two-day meeting which was held between 23rd and 34th July, 2019, Godwin Emefiele, Governor of the apex bank disclosed that the price of food items is expected to reduce with the onset of the harvest season although, there is a need to urgently attend to the country’s security challenges.

CBN To Ban Yearly Forex For Milk, Other Dairy Products

In a bid to boost local production of dairy products and encourage investment in cattle ranching, the Central Bank of Nigeria (CBN) is set to include milk and other dairy products among items on the foreign exchange restriction list.

Ban On Importation Of Milk – CBN To Give Loan To Cattle Farmers

Following the recent proposal by the Federal government to stop the importation of dairy product in Nigeria, The Central Bank of Nigeria (CBN) is set to provide loans to Nigerians that are ready to venture into cattle farming.

Disclose Salaries Of Judicial Workers, Senate President Begs CJN

The President of the Senate, Ahmad Lawan has called on the Chief Justice of Nigeria (CJN), Tanko Ibrahim Mohammed to make public the salaries and allowances of judicial workers in Nigeria so that the anomaly can be collectively addressed by both arms of government.

Oil Rises to $63 Amidst Persian Gulf Tension

Oil prices on Monday recorded a post modest gain despite tensions between Iran and the West, which mounted after Iranian forces seized a British-flagged oil tanker on Friday.

Economy: Nigeria’s Inflation Nose-Diving – NBS

The National Bureau of Statistics (NBS) on Monday has disclosed that during the month of June 2019 the general Nigerians inflation rate has crashed down by 0.18 percent which indicates win-win for the general well being of Nigerians.

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