Nigeria
Vai alla Scheda Paese »A man of worth never gets up to unsay what he said yesterday.
— Chinua Achebe
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CBN Directs Banks To Open Outlets In Airports To Ease Forex Supply
The Central Bank of Nigeria (CBN) has directed that henceforth, banks should sell foreign exchange to retail end users at airports without putting into consideration the 60:40 rule which prioritises the manufacturing and raw materials purchase. In a new forex policy officially announced yesterday, the apex bank also cut down ...
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Under Buhari, naira now Africa’s worst currency – Ekweremadu
Leke Baiyewu, Abuja The Deputy President of the Senate, Senator Ike Ekweremadu, on Monday, took a swipe at the All Progressives Congress administration led by President Muhammadu Buhari, saying the economy has suffered more crisis under the new government. Ekweremadu said this at the Peoples Democratic Party’s national stakeholders’ meeting ...
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BREAKING: CBN modifies forex policy
Ifeanyi Onuba, Abuja The Central Bank of Nigeria on Monday modified its foreign exchange policy with the reduction of the tenor of its forward sales from the current maximum cycle of 180 days to 60 days from the date of transaction. The apex bank said this in a statement issued ...
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JVCs refusal to repatriate oil proceeds unacceptable – Senate
The Senate on Monday expressed worry over alleged refusal by Joint Venture Companies (JVCs) to repatriate crude oil proceeds worth over $850 billion to the country. Senate President, Bukola Saraki, who expressed concern over the development, said the amount accumulated between 1996 and 2014. Speaking while inaugurating an investigative hearing ...
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Jubilee-Life unveils rent-to-own for business owners
Jubilee-Life Mortgage Bank Limited has unveiled an initiative known as ‘rent-to-own your shop’ for business owners and market women. According to the firm, the initiative was recently inaugurated by the Lagos State Commissioner for Housing, Mr. Gbolahan Lawal, in Ijaiye-Ojokoro, where a modern complex made up of 336 lock-up shops ...
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Osinbajo to declare building material trade expo open
The Acting President, Prof. Yemi Osinbajo, is expected to declare the first ‘Made-in-Nigeria Building Material Trade Expo’ in Lagos, open, the organiser has said. The organiser and publisher of Global Homes Magazine, Mrs. Roni Akins, said in a statement that the event, with theme: ‘Buy Nigeria to build Nigeria’, would ...
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FG orders missions to probe attacks on Nigerians in S’Africa
John Ameh and Adelani Adepegba, Abuja The Federal Government has directed the Nigerian High Commission and consulate in Pretoria and Johannesburg to investigate the xenophobic attacks on Nigerians in South Africa. The Permanent Secretary, Ministry of Foreign Affairs, Ambassador Sola Enikanolaiye, explained that the findings of the probe would be ...
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$500m Eurobond: For whose benefit?
Economic Renaissance by Henry Boyo lesleba@lesleba.com 08052201997 The Finance Minister, Olusegun Aganga and his entourage have planned roadshows traversing markets in Europe and the United States to promote Nigeria’s credit worthiness and facilitate popular subscription to a proposed $500m/Euro loan. It will be irrational for anyone to embark on a ...
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Task force uncovers baby factory in Plateau
Ojogbane Audu, Jos operatives of Operation Safe Haven, the Special Task Force deployed to restore law and order in Plateau and Bauchi states, uncovered a baby factory in Jos, the Plateau State capital, on Saturday. Our correspondent gathered that the discovery was made possible through a tip-off by residents, who ...
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Sanusi plans law barring poor Kano men from polygamy
The Emir of Kano, Muhammadu Sanusi II, says he is on the verge of proposing a law which will restrict poor men in the emirate from marrying many wives. Sanusi said this in Abuja on Sunday at the 50th anniversary of the death of Ambasador Isa Wali, a former Nigerian ...
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Averting the next bailout
•The problem is not funds per se; government must make the business environment friendly NOTHING exemplifies the dilemma facing the Federal Government than its latest round of lifelines to the two beleaguered but key sectors of textile/garment and aviation. We refer to the latest package of N51 billion in the ...
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Compulsory Insurance Alone Can’t Drive Penetration – IT Expert
The Managing Director of Pinet Informatics, Engr. Lanre Ajayi, has said Nigerians must be persuaded to buy insurance products and services and not by compulsion as it is being done in the insurance industry, through the enforcement of compulsory insurances. Speaking in Lagos last week, Ajayi said people must see ...
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Growing The Economy Through Forex Allocation
While Nigeria faces shortage of foreign exchange, it is essential that critical sectors of the economy that would spur growth and development have access to dollars in order to speed up the recovery of the the nation’s economy. Last year, Nigeria was officially said to be in recession although the ...
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Stop Enrolment Of Children Below 6 Years In Schools, Proprietor Urges NASS
A school proprietor, Malam Aliyu Badmus, has called on the National Assembly to make a law prohibiting parents from enrolling children under the age of six in schools. Badmus told the News Agency of Nigeria (NAN) on yesterday in Ilorin that the falling standard of education in the country was ...
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Ini Onuk: One of Africa’s leading voices in CSR and sustainability
Ini Onuk is the Lead Consultant/CEO of ThistlePraxis Consulting Limited (TPC), an Assessments and Strategy firm based in Lagos, Nigeria set up to facilitate the development of a more responsible business environment in Nigeria and Africa. As Lead Consultant/CEO, Ini’s daily responsibilities includes leading a Faculty of experts on increasing ...
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No need to panic over forex policy – Emefiele
The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, spoke with journalists in Abuja on issues affecting the economy and the foreign exchange policy, among others. IFEANYI ONUBA was there The central bank has been focusing on some sectors through the provision of interventions fund; what is the bank doing ...
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Don’t relocate our businesses, Yaba SMEs beg LASG
Anna Okon The Small and Medium Enterprise operators in Yaba Industrial Estate, located in the Sabo area of Lagos State, have pleaded with the Lagos State Governor, Mr. Akniwunmi Ambode, not to relocate their businesses from the estate. The governor last month disclosed that he would convert the estate into ...
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This present darkness …. and a way out
The political economy of kleptocracy in Nigeria Kleptocracy- a rule of thieves- has afflicted human society since the beginning of recorded history. No formulation can capture our plight better in contemporary Nigeria. It is a morbid society where successful thieves are celebrated and lionized by aspiring thieves. Those who have ...
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In Nigeria, Looting Is The Name Of The Game
These days, if my cell phone rings 10 times, you can be sure that seven times, the guy on the other side has a problem waiting for me to solve. I don’t get fooled anymore if he spends some time asking about the wife and the children and work, the ...
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Give Customers N375/$ For School Fees, Medicals, CBN Directs Banks
As part of efforts to ease the mounting foreign exchange challenges in the country, the Central Bank of Nigeria (CBN) will soon increase the disbursement of forex to meet demands for payment of school fees for Nigerian students abroad, medical expenses, personal and business travel allowances. LEADERSHIP Weekend gathered yesterday ...
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MTN, LUMOS partner for mobile electricity solution
Eric Dumo MTN Nigeria has linked up with solar experts, Lumos, to provide mobile electricity solutions to millions of households and businesses across the country. The national roll-out of the service in Abuja, the country’s capital, scheduled to take place on February 20, is expected to make life easier for ...