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 […]
Shareholders call for legislation on SEC’s new code
Shareholders under the aegis of Independent Shareholders Association of Nigeria, ISAN, have called on the Director General of the Securities and Exchange Commission, Ms Arunma Oteh, to sponsor a bill to the National Assembly that will make some of the provisions of the new Code of Corporate Governance binding on quoted companies.
AFC invests N8bn in ARM
Africa Finance Corporation, AFC, has invested N8 billion (US$50 million) in Athi River Mining, ARM, to support ARM’s expansion in Eastern and Southern Africa.
Kwara state govt. to mop up farmers excess produce
The Kwara state government is putting in place, a program that will enable buyers to pay for the produce of its peasant farmers prior to commencement of planting.
West African ports move against Nigeria’s proposed hub bid
PORTS in neighbouring countries in the West African sub-region are currently constructing deep sea ports that will take mega ships so as to take up Nigerian bound cargoes.
Trade among African countries declining, says Perm Sec
Permanent Secretary in the Federal Ministry of Trade and Investment, Mr Dauda Kigbo, has said that the volume of trade among African countries, especially in the non-oil sector, has been on steady decline in recent years. Kigbo, represented by the Executive Director of the the Nigerian Export Promotion Council, NEPC, Mr David Adulugba, made the statement in Abuja at the opening of a three-day workshop on “Enhancing National Export Competitiveness Strategies”.
