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Economic impact of COVID-19

Temi Okesanjo Coronavirus has affected hundreds of thousands of people, and the growing impact on the global economy calls for business leaders to take a lead in providing solutions on the evolving situations and implications of Covid-19 in the business sector. The question of whether the economy goes into a recession might be determined by…

Forex: CBN presents longest Naira-settled Forwards agreement

By Babajide Komolafe, with agency report CBN In a bid to reduce demand pressure in the foreign exchange market, and enhance dollar inflow into the economy, the Central Bank of Nigeria (CBN) yesterday introduced the longest Naira-settled Forwards contract. The 5-year contract, priced at N379.81 per dollar, is longest tenor since the CBN introduced the…

CBN targets $4bn non oil exports earnings in 2020

CBN By Babajide Komolafe THE Central Bank of Nigeria, CBN, said it would intensify policy measures to achieve $4 billion in non-oil exports revenue in 2020. This represents 100 percent growth when compared with $2 billion non-oil exports revenue achieved in 2019. CBN Governor, Mr. Godwin Emefiele, disclosed this in Lagos while unfolding policy priorities of…

CBN invests N146 bn to assistance 849,480 rice farmers– Emefiele

The Central Bank of Nigeria (CBN) says it spent N146 billion to support 849,480 wet and dry seasons rice farmers across the country. CBN Governor, Mr Godwin Emefiele The CBN Governor, Mr Godwin Emefiele, gave the details at a meeting with some state Governors in Abuja on Thursday. Emefiele said that the bank was working…

CBN’s financial diversity gains traction with economic sector

By Emeka Anaeto There are indications that the Central Bank of Nigeria, CBN, championed economic diversification efforts may have gained private sector lead and already on self sustaining range as the intervention funds beneficiaries begin to repay the loans. Before now the practice has been for public sector loan beneficiaries to go away with the…

Associates penetrate recruitment, extortion rip-off in NNPC, NPA, CBN

By Livinus Nwabughiogu The House of Representatives has resolved to probe the alleged clandestine recruitment process in NNPC, NPA, CBN and other Federal Government’s Ministry,  Department and Agencies, MDAs. House of Representatives The House made the resolution following a motion introduced by Yusuf Gagdi from Plateau State during yesterday’s plenary. The lawmaker alleged that rather…

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