The new flexible foreignexchange policy announced by the Central Bank of Nigeria, CBN, last week is believed to be a turning point for most business organisations currently struggling under the nation’s harsh economic climate. This optimism was expressed by the Managing Director of Propertygate Development & Investment Plc, a Lagos-based real estate development and investment company, Mr. Adetokunbo Ajayi, at an interview session during the 7th Annual General Meeting of the company held in Lagos at the weekend.

Liquidity pressure heightened in the banking industry, last week, forcing banks’ borrowings from Central Bank of Nigeria’s Standing Lending Facility, SLF, to rise 230.61 per cent to N929.52 billion.

THE last may have not been heard over the disagreement between the legislature and the executive over the N1.04 trillion fine imposed on South African telecommunication giant, MTN, by the Nigeria Communications Commission, NCC, which was later reduced to N330bn.

Shareholders of nine banks quoted on the Nigerian Stock Exchange, NSE received 42.2 per cent or N158.4 billion as Return on Investment, ROI , out of the total banks’ Profit After Tax, PAT, of N375.8 billion for the financial year, 2015. Financial Vanguard’s findings showed that the nine banks’ PAT declined by N11.1 billion or 2.9 per cent as they recorded a total of N375.8 billion for the financial year, 2015 when compared to the figure of N386.9 billion recorded in 2014.

JUST before mass ended on Sunday at an outpost of St. Edward’s Catholic Church in Eziowelle, the hometown of Francis Cardinal Arinze, the priest invited a young man to make an announcement. The fellow said he had come from the Justice Development and Peace Commission, JDPC, to propagate the corporal works of the Year of Mercy.