The bailout the economy needs
During the inauguration of his cabinet, President Muhammadu Buhari last week commended the Central Bank of Nigeria (CBN) for assisting more than 30 states of the federation with concessionary loans to offset salary arrears for their workers. The President observed that the Bank also implemented country-specific and innovative policies that had helped to stabilise the exchange rate and conserve the nation’s reserves.
CBN partners ex-internationals for annual championship
The Central Bank of Nigeria (CBN) says it has concluded arrangement to partner with some notable ex-internationals for the organization of the 2015 edition of the Annual All Financial Institutions Football Competition slated to kick off across the country on Sunday.
Nigeria to raise $4bn in treasury bills in Q4 – CBN
The Central Bank of Nigeria (CBN) says it plans to auction N814.78 billion in Treasury bills between Sept. 17 to Dec. 3.
Economy in trouble, as oil price crashes
Nigeria’s economy may be heading for trouble, as oil price crashed even lower at the weekend, thereby threatening the 2015 budget and fiscal plan.
Senate approves Emefiele as new CBN gov
The Senate on Wednesday confirmed the appointment of a new central bank governor to replace Lamido Sanusi, who was suspended on government charges of “financial recklessness and misconduct”.
Phony defence of the Naira and the folly of a nation
Nigerians generally believe that large foreign reserves are useful for defending the exchange rate of the naira. However, our total foreign reserves actually comprise of two primary income streams; the first is the Excess Crude Account (ECA), which consists of all crude oil revenue in excess of budget estimates
