Nigeria
Vai alla Scheda Paese »A man of worth never gets up to unsay what he said yesterday.
— Chinua Achebe
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Investors, traders express worry over new forex rules
Stanley Opara with agency report The Central Bank of Nigeria’s latest efforts to adjust the exchange rate policy have baffled investors who say the moves fall short of the currency devaluation they had hoped for and will not lure money back into the economy. The CBN this week effectively devalued ...
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Cargo handling: Amaechi to chair town hall meeting
Against the backdrop of a recent audit report revealing that private terminal operators in Nigerian ports lost about N58.9bn to the foreign exchange scarcity, Consumer Price Index, among others, in eight years, a one-day town hall meeting on “Cargo Handling and Port Charges” will hold in Lagos to evaluate the ...
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CBN’s forex policy adjustment not sustainable –Experts
Oyetunji Abioye Economic and financial experts say it is uncertain that the latest policy action on foreign exchange introduced by the Central Bank of Nigeria will work. The CBN had on Monday announced a new policy decision aimed at boosting forex supply to end-users in order to ease the pressure ...
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Business returns to seaports, say freight forwarders
Anna Okon Freight forwarders have become busy again. They say that their business has begun to witness a boom in the past two weeks as more vessels return to the seaports, following a month and three weeks’ old ban imposed on importation of cars through the land borders. The National ...
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JAMB fixes UTME for May, scraps scratchcard
Joint Admissions and Matriculation Board (JAMB) Registrar Prof. Ishaq Oloyede yesterday said the much-awaited Unified Tertiary Matriculation Examination (UTME) will hold in May as part of steps to check malpractices. He also said the agency had handed over 10 officials to the police for investigation in connection with fraud associated ...
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New Forex Policy May Stabilise Banks, Says Fitch
Fitch Ratings, an international rating agency, has expressed optimism that the new policy actions on forex implemented by the Central Bank of Nigeria (CBN) may help to ease the foreign currency liquidity pressure faced by the country’s banking sector and also bring about stability in the banks. Specifically, Fitch noted ...
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Naira Firms To N505/$ As Analysts See Increased Confidence
Financial analysts are optimistic that the new foreign exchange policy of the Central Bank of Nigeria (CBN) would further increase the confidence in the Nigerian forex market even as the value of the naira further strengthened at the parallel market. The naira which sold at an all time high of ...
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Xenophobic attacks: FG demands compensation for Nigerian victims
The Federal Government on Wednesday demanded compensation for Nigerians whose properties were destroyed in the xenophobic violence that took place at the weekend in South Africa. Foreign Affairs Minister, Geoffrey Onyeama, who stated this in Abuja at a news conference on the xenophobic attacks on Nigerians in South Africa, said ...
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MURIC Applauds Kano Over Proposed Law On Condition To Marry Second Wife
The Muslim Rights Concern (MURIC), has applauded the proposed move by Kano State government to propose a law that will make it mandatory for men seeking to marry second wives to satisfy certain conditions before they can be allowed to do so. In a statement made available to LEADERSHIP on Wednesday, ...
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Bauchi Assembly Studies Kaduna Investment Agency, To Establish Agency In Bauchi
The seven-man delegation of Bauchi State House of Assembly lawmakers on Wednesday visited Kaduna to under-study the Kaduna State Investment Promotion Agency (KADIPA), with a view to establishing a similar agency in Bauchi. Deputy Majority Leader,Abdullahi Sa’ad Abdulkadir, who led the Bauchi Assembly delegation, said Kaduna is one of the ...
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World food security “in jeopardy” due to multiple challenges, FAO warns
Source: Food and Agriculture Organization of the United Nations Country: WorldMankind's ability to feed itself is in jeopardy due to intensifying pressures on natural resources, mounting inequality, and the fallout from a changing climate, warns a FAO report. 22 February 2017, Rome - Mankind's future ability to feed itself is in jeopardy ...
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Africa: Economic Growth - Vital Trends to Watch
[Monitor] In 2016, real Gross Domestic Product (GDP) growth in sub-Saharan Africa is estimated to have been the weakest since the 2008/9 global financial crisis. This was largely because of the weak performance in its two largest economies - South Africa and Nigeria - which together make up about half ...
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FG to reduce agencies operating in ports to six
Olalekan Adetayo, Abuja The Federal Government is currently working towards streamlining the number of agencies operating in the nation’s ports to only six from about eight. This is part of the decisions reached at an expanded meeting of the Presidential Enabling Business Environment Council presided over by the Acting President, ...
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Celebrities slam cleric for negative comment on BBN
Chux Ohai Popular comedian, Seyi Law and a past winner of the Big Brother Africa reality TV show, Uti Nwachukwu, on Tuesday slammed a pastor based in Port Harcourt for allegedly placing a curse on the sponsors of the ongoing Big Brother Nigeria reality show, the Nigerian version of BBA. ...
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Govt’s local debt hits N10.8tn, owes foreign creditors $11.5bn
Olalekan Adetayo, Abuja As of September 30, 2016, the Federal Government’s indebtedness to local creditors stood at N10.8tn, while external debt was $11.5bn. The Minister of State for Budget and National Planning, Zaynab Ahmed, disclosed this at the presentation of the budget implementation and performance monitoring report for the third ...
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Forex: CBN provides $370.8m for 23 banks
Ifeanyi Onuba, Abuja The Central Bank of Nigeria on Tuesday carried out a wholesale intervention in the interbank foreign exchange market with the release of $370.8m to 23 Deposit Money Banks. The amount, which was confirmed in a statement by the Acting Director, Corporate Communications, CBN, Isaac Okoroafor, was to ...
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Will new CBN forex policy arrest naira’s slide?
If it is within the context of community and social development projects, it has little or no impact on our projects. Our foreign currency, which is in United State dollars, comes from the Central Bank of Nigeria. It is converted at official exchange rate and we carry out our projects ...
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Imperative of ending FGM in Nigeria
Punch Editorial Board Ending the barbaric culture of Female Genital Mutilation in Nigeria is a task that should challenge the resolve of the government and people of the country. Despite taking an important step to enact a law banning FGM in 2015, Nigeria still faces an immense battle to ensure ...
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Naira records little gain, closes at 512/dollar
Oyetunji Abioye The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy action. The CBN had on Monday announced its decision to begin sale of $1m ...
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171 Libyan returnees arrive in Lagos airport
ONE hundred and seventy-one Nigerian returnees from Libya yesterday arrived at the Murtala Muhammed International Airport, Lagos, recounting their ordeal.. The returnees were received by Special Adviser to the President on Diaspora and Foreign Affairs Mrs. Abike Dabiri-Erewa, who cautioned Nigerians to desist from dangerous search for greener in Libya. ...
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Fed Govt eyes $2.3b from World Bank, China
The Federal Government wants to borrow at least $1 billion from the World Bank and to sign within months for a $1.3 billion loan from China to fund railway projects, Finance Minister Kemi Adeosun said yesterday. The economy needs to plug a gap in its record N7.3 trillion ($23.17 billion) ...