FG to ban rice importation next 2 years
Federal government Wednesday said it has plans to stop the importation of rice in the next two years, however stating that the policy would not be enforced until it has developed local industries to produce maximally for local consumption.
Jonathan suspends Lamido Sanusi as CBN gov
President Jonathan has announced the suspension of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi
Foreign exchange: CBN and the painful lesson of history
It was a very familiar road with a familiar destination which the Lamido Sanusi led Central Bank of Nigeria chose to embark on.
Foreign portfolio investors withdraw $12.8bn in 2013
Foreign portfolio investors withdrew $12.8 billion from the economy last year, even as the nation’s external reserves maintained it downward trend last week.
Difference in exchange rates caused by restrictions in forex supply—ABCON President
The difference (margin) between the official exchange rate and the parallel market exchange rate has always been a challenge in the foreign exchange market. In 2006, and for the first time, the Central Bank of Nigeria, CBN, succeeded in eliminating this gap, by incorporating bureaux de change to access the official foreign exchange, which is sold to end-users with regulated margin.
YCE wants Jonathan to compensate S/W with CBN governor’s position
Yoruba Council of Elders has called on President Goodluck Jonathan to compensate the South West with position of the governor of the Central Bank of Nigeria
CBN invests N6.1bn in ABU
The Central Bank of Nigeria, CBN is investing about N6.1 billion in the Ahmadu Bello University, ABU, Zaria, the Vice Chancellor of the institution, Prof. Pustapha Abdulahi has said.
CBN predicts bright economic future for Nigeria in 2014
The Central Bank of Nigeria, CBN, has said that with commitment to macroeconomic and financial system stability, Nigeria was likely to evolve as a preferred destination of choice for investments in 2014.
The Blessing of Oil : A peculiar mess
Our parlous economic predicament is generally regarded as a “resource curse”, a phenomenon, which the free encyclopedia defines as a paradox of plenty, in which countries with abundant revenue from mineral resources show less economic growth with a beleaguered manufacturing sector when compared with other countries with less resource endowments.
Cashless Policy: Covering the gap between implementation and objectives
When the Central Bank of Nigeria, CBN announced the cashless policy in April 2011, it was greeted with mixed reaction. In some quarters, it was condemned out rightly, while people, who believe it was a good policy, but the timing was wrong.
CBN, NDIC takeover NERFUND
The Federal Ministry of Finance has directed the Central Bank of Nigeria, CBN and Nigeria Deposit Insurance Corporation, NDIC, to take over the affairs of National Economic Reconstruction Fund, NERFUND.
