Nigeria won’t float naira, Emefiele tells IMF, World Bank

The Central Bank of Nigeria (CBN) has foreclosed the possibility of adopting a clean float foreign exchange management approach as long as the supply shock remains. It, however, promised to continue to engage relevant stakeholders, including the International Monetary Fund (IMF) and the World Bank on best approaches to stabilising the market. The assurance comes […]

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Headline inflation reduces to 15.99% in October- NBS

Inflation Photo: triloks / Getty Images Nigeria’s headline inflation declined for the seventh consecutive month to 15.99 per cent in October, Mr Simon Harry, the Statistician-General of the Federation has said. He said this on Monday in Abuja at a media conference while presenting the October Consumer Price Index (CPI). According to Harry, the headline […]

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Exchange rate: FG to ‘shut down’ popular Aboki FX website

The Federal Government on Friday declared that it will shut down the operations of Aboki FX, a website providing currency exchange information, which it described as an illegal and criminal platform. The Governor of the Central Bank of Nigeria, Godwin Emefiele, who disclosed this while fielding questions after the Monetary policy committee’s two-day meeting in […]

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Anxiety as insecurity undermines FDIs, businesses

President, LCCI, Mrs. Toki Mabogunje The Lagos Chamber of Commerce and Industry (LCCI) has expressed worries about the negative impacts of insecurity on Foreign Direct Investments (FDIs) inflow into the country and the business community at large. Indeed, the Chamber bemoaned Nigeria’s inability to attract FDIs as a result of the high level of insecurity, […]

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Nigeria still Africa’s biggest economy – Report

Nigeria’s GDP now $432bn, South Africa’s $370bn, Nigeria has maintained her position as Africa’s biggest economy, according to a report recently released by South Africa. An analysis of the new report by Statistics South Africa, SSA, of that country’s rebased Gross Domestic Product, GDP, pushed South Africa’s economy up by 11 per cent. After a […]

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Economy gains highest quarterly growth since 2015

Buhari lauds GDP’s 5.01% growth in Q2,2021 Economists dismiss figures as reflection of last year’s deep dive Growth needs to be sustained before 2023 election slows economy down, says Rewane Impact on citizens’ welfare matters most, Yusuf insists Transport growth is first sign of recovering economy’ Expert see more potential in telecom, calls for better […]

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