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 […]
Petrobras unveils $225bn investment plan
Petrobras, Brazil’s oil company, has announced a long-awaited plan to invest $224.7bn over the next five years following months of battling with the government over cost-cutting.
NSE to increase tradeable instruments to five by 2016
The Nigerian Stock Exchange, NSE, has announced plans to increase the number of products traded on its platform to five within the next five years.
ICAN urges FG to partner relevant bodies on IFRS
The Institute of Chartered Accountants of Nigeria (ICAN) has urged the Federal Government to partner with relevant professional bodies to train Nigerians on the International Financial Reporting Standards (IFRS). Mr Sunday Ajileye, Chairman of Amuwo Odofin District of ICAN, made the all in in Lagos.
FDI to Nigeria declines by 29% in 2010 – UN report
Foreign Direct Investment (FDI) flows to Nigeria declined by 29 percent in 2010 amidst regulatory concerns in the nation’s oil industry.
Agbakoba decries neglect of N7trillion Cabotage trade
MARITIME lawyer and Senior Advocate of Nigeria (SAN) Mr Olisa Agbakoba has decried the neglect of the N7trillion Cabotage trade, calling for a review and full implementation of the Cabotage law to the benefit of the economy.
Don’t bleed economy again, LCCI charges NASS
The Lagos Chamber of Commerce and Industry has called on the 7thNational Assembly “not to bleed the economy.”
CBN to raise limit on forex sales to BDCs
The Central Bank would soon review upward the limit on banks’ autonomous foreign exchange sales to bureaux de change (BDC).
Piracy: Another ship highjacked outside Nigerian waterways
As the world frowns at the activities of pirates of the Gulf of Edan following its effect on the world’s trade, the virus seem to be spreading to the West African region as pirates again seize a second vessel in the area last weekend.
CMD calls for new MSME model
Centre for Microenterprise Development (CMD), has called for a holistic overhaul of the model of the micro, small and medium enterprises practice (MSME) in the country.
Aganga woos unido for collaboration
The Minister of Trade and Investment Dr. Olusegun Aganga has called for more collaboration between the United Nations Industrial Development Organization (UNIDO) and the Federal Ministry of Trade and Investment in order to promote and accelerate sustainable Industrial development in the country.
