The emerging report has it that the Socialist Republic of China has commenced export of used cars to Africa, Asia and Europe. The communist-led countrypresumably, the global economic giant has also concluded modalities to extend such export to Nigeria.
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 Communications; Mr Isaac Okorafor in a statement in Abuja.
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.
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.