CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Germany to build GreenAgric centre in Ogun state
The German Government has promised to establish a green agricultural center in Ogun state state just as harvesting at the state’s 250 hectres Rice farm in Eggua Yewa North Local Government commenced.
IMF warns against external borrowing for consumption
The International Monetary Fund IMF has warned Countries in the West African region including Nigeria to use the money borrowed from external sources on projects that will enable them recover the cost and pay back such debt.
Nigerian Banks performing well despite hurdles–Fitch
Fitch Ratings Agency yesterday in London said in a new special report that Nigerian banks are performing well despite the twin hurdles of tight monetary policy actions and new banking rules.
Remittances to Nigeria to hit $21bn by year end
The World Bank Group has projected that Nigeria will in 2014 receive an inflow of $21 billion as remittances from Nigerians living and working abroad.
Why we stopped distribution of pre-paid meters —Eko DISCO
The Eko Electricity Distribution Company, EKEDC, has blamed the delay in the rolling out of prepaid meters to consumers on the fear of bye-pass of its meters.
