CBN mandates BDCs to sell unutilised FX to NFEM within 24hrs
•May confiscate unutilised balance By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has directed Bureau De Changes, BDCs, to sell unutilised foreign exchange (FX) balances to the Nigerian Foreign Exchange, NFEM, market within twenty-four (24) hours of the expiry of the utilisation period. The apex bank disclosed this in its regulatory guidance on purchase of […]
Economy: ‘Nigeria is reaping the consequence of poor planning’
The Institute of Planning Nigeria (IPN) is critical about the relegation of planning to the background, which the institute’s president, Dr McCarthy Ijiebo, says is responsible for the underdevelopment of Nigeria.
‘At 90, Moor Plantation leads the way to self sufficiency in food’
How the Federal College of Agriculture, Ibadan, aka Moor Plantation, at 90, continues to help the nation overcome its agricultural challenges, according to the provost, Dr Foluke Oluwatoyinbo
FG’s transformation agenda will succeed if… – NASU
The Non-Academic Staff Union of Educational and Associated Institutions (NASU) wants the Federal Government to invest massively in infrastructure development in order to create an enabling environment for its economic transformation agenda to succeed.
Can Nigeria’s manufacturing, pharmaceutical industry compete? (2) – Prof.Soludo
The former Central Bank governor, Prof. Charles Soludo in a recent forum organised by Nigeria Association of Industrial Pharmacists (NAIP) in Lagos, has questioned the ability of Nigeria’s manufacturing and pharmaceutical industry to compete in the global market with certain indices pointing to that direction.
Unemployment: RMRDC to encourage fish, mushroom farming among youths
Director-General, Raw Materials Research and Development Council, RMRDC, Prof. Peter Onwualu, has unveiled plans by the council to train youths in fish and mushroom farming to curb unemployment.
FG plans investment councils with 6 developed nations
THE Federal Government said it has concluded plans to establish Trade and Investment Councils with six advanced countries across the world as part of renewed efforts to make Nigeria the preffered investment and manufacturing hub in sub-Saharan Africa.
SON closes steel company over alleged sales of substandard products
Business activities were disrupted at the Ispat Steel Company Nigeria Limited in Agbara, Ogun State following the closure of the company by the Standards Organisation of Nigeria (SON) over alleged production and sales of substandard imported steel products.
Africa urged to cooperate more to promote trade
Customs officials attending a tripartite meeting, which is bringing together delegates from COMESA, EAC and SADC, have challenged African countries to increase their economic cooperation in order to boost intra-trade within the continent.
Obasanjo becomes IITA’s Goodwill Ambassador
To help boost the fight against hunger and poverty in Africa, former President Olusegun Obasanjo has accepted to be a “Goodwill Ambassador ” of the International Institute of Tropical Agriculture (IITA).
eTransact gets CBN’s nod on mobile money operations
One of Nigeria’s mobile and switching companies, eTranzact International Plc, has been awarded the final approval by the Central Bank of Nigeria, to commercially launch the Mobile Money operation.
