Economy Archives — Page 203 of 248

July 18, 2018 No Responses

Djibouti Insists On Free Trade Zone

Djibouti Ports and Free Zones Authority (DFPZA) stood up against DP World’s claims that the opening of the Chinese-built Djibouti International Free Trade Zone (DIFTZ) was against the port operator’s exclusive contractual rights. The duo has embroiled in a dispute over concession agreement...

July 16, 2018 No Responses

SEC Reiterates Support For Capital Market

The Securities and Exchange Commission, SEC has restated its dedication to collaborate with relevant stakeholders to further develop and deepen the capital market. The Ag. Director General of the Securities and Exchange Commission, SEC, Ms Mary Uduk ...

July 11, 2018 No Responses

CBN Injects $210m Into Foreign Exchange Market

The Central Bank of Nigeria (CBN), on Tuesday injected 210 million dollars into the inter-bank Foreign Exchange market to meet customers’ requests in various segments of the market. The CBN acting Director, Corporate Communications, Mr Isaac Okoroafor sai...

July 7, 2018 No Responses

Tony Elumelu Pledges N500m For Delta Entrepreneurship Scheme

Tony Elumelu Foundation (TEF) Founder and Chairman of United Bank for Africa (UBA), Tony O. Elumelu, CON has pledged N500 million to create an entrepreneurship programme exclusive to indigenes of Delta State. He made the pledge after presenting 50 beneficiar...

June 27, 2018 No Responses

Buhari Inaugurates Calabar Automated Rice Seed, Seedling Factory

President Muhammadu Buhari on Tuesday inaugurated the Calabar automated rice seed and seedling factory. The factory was one of the projects inaugurated by the president during his visit to Cross River. During the inauguration, Buhari said he was in Calabar...

June 22, 2018 No Responses

‘Nigerian Banks Lose N12.30B To Fraud In Four Years’

The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017. Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security S...

June 20, 2018 No Responses

FG Explains N1.580Trillion Capital Cost To MDAs

The Federal Government has announced that a total of N1,580,270,755,084.44(One trillion, five hundred and eighty billion, two hundred and seventy million, seven hundred and fifty-five thousand, eighty-four naira, forty-four kobo) capital cost was released to M...

June 20, 2018 No Responses

Naira Converges At N360 To Dollar

The Naira on Tuesday converged at N360 to the dollar across the major foreign exchange market, the News Agency of Nigeria(NAN) reports. At the parallel market, the naira traded at N360 to a dollar, stronger than the N360.6 exchanged before...

June 14, 2018 No Responses

Naira Firms Up Against Dollar At Parallel Market

The Naira on Wednesday gained 50 kobo to firm against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports The Nigerian currency exchanged at N361 to the dollar, stronger than the N361.50 traded on...

May 23, 2018 No Responses

Minister: Nigeria Records $83b Investment Commitment In 15 Months

Nigeria recorded a total investment commitment of 83 billion dollars between January 2017 and March, Mr Okechukwu Enelamah, the Minister of Industry, Trade and Investment, said. Enelamah spoke in Abuja on Tuesday at the opening session of the Direct Investor...

May 23, 2018 No Responses

Monetary Policy Committee Meeting Communiqué

The Monetary Policy Committee (MPC) met on the 21st and 22nd of May, 2018 against the backdrop of optimistic global growth outlook and sustained recovery in the domestic economy. The Committee examined the performance, risks, vulnerabilities in the global and....

May 23, 2018 No Responses

Nigeria Invests $10b In Infrastructure In Three Years

The Vice-President, Prof. Yemi Osinbajo, says the Federal Government has invested close to 10 billion dollars in infrastructure development in the last three years. He said the investment which focused on roads, power and a new national rail network,...

May 21, 2018 No Responses

‘APM Terminals Contributes N186b Annually To Nigeria’s Economy’

An impact assessment study conducted by a Denmark-based consulting firm, Quantifying Business Impacts on Society (QBIS) has revealed that the operation of leading global port operating company, APM Terminals in Nigeria created a total turnover of around USD610...

May 19, 2018 No Responses

Naira Depreciates Against Dollar At Parallel Market

The Naira on Friday depreciated against the dollar at the parallel market in Lagos, the News Agency of Nigeria (NAN) reports. The Nigerian currency lost one point to exchange at N363, weaker than N362 posted on Thursday, while the Pound...