Sen. Gabriel Suswan, the Chairman Senate Committee on Power says the senate has no plans to reverse the privatisation of the power sector. Suswan made this known in Abuja during the committee’s oversight visit to some government structures being occupied by the Abuja Electricity Distribution Company (AEDC). According to him, the senate is not pushing Read More…
Business
NSE market indices down 0.07%, as MPC retains policy rates
The Nigerian Stock Exchange (NSE) opened the week on Monday with a loss of 0.07 per cent, just as the Monetary Policy Committee (MPC) retained key policy variables. The MPC committee members at the end of the one-day virtual policy meeting retained all policy parameters. They maintained the Monetary Policy Rate (MPR) at 12.5 per Read More…
MPC retains MPR at 12.5%, holds other policy parameters constant
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has retained Monetary Policy Rate (MPR) at 12.5 per cent and held all other policy parameters constant. The CBN Governor, Mr Godwin Emefiele disclosed this while reading the communique after the MPC meeting in Abuja on Monday. Emefiele explained that the committee retained Read More…
2020 Nigeria Mining Week to hold virtually in October
Picture above credit: Muscle and mud: Nigeria has an estimated 500,000 artisanal gold miners ©Tom Saater/FT The 2020 Nigeria Mining Week will hold virtually in October following the outbreak of Coronavirus pandemic, Minister of Mines and Steel Development, Mr Olamilekan Adegbite, has said. Adegbite, who disclosed this in Abuja at the News Agency of Nigeria Read More…
Nigeria’s inflation rate hits 12.56%
The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation increased to 12.56 per cent year-on-year in June 2020. The NBS made this known in its CPI and Inflation Report for June released on Friday. It stated that the report showed that June inflation was 0.16 per cent points higher than Read More…
NEPZA sets stage for ethics, governance compliance
The Nigeria Export Processing Zones Authority (NEPZA), says it is focused on scaling up the authority’s compliance level in ethics and governance in line with Federal Government specifications on ease of business. Prof. Adesoji Adesugba, NEPZA Managing Director made the remark on Wednesday in Abuja while inaugurating a 14-man Freedom of Information (FOI) Act Committee. Read More…
CBN unveils non-interest guidelines for AGSMEIS, MSMEDF, others
The Central Bank of Nigeria (CBN) has unveiled guidelines for Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) and Micro, Small and Medium Enterprises Development Fund (MSMEDF). The CBN made this known in its latest guidelines released on its website on Tuesday. It said the 10 guidelines also included the Read More…
NEXIM bank clarifies N50bn alleged fraud, says says money used for 62 projects, others
The Nigerian Export-Import Bank (NEXIM), on Tuesday clarified the alleged mismanagement of N50 billion Export Development Fund released by the Central Bank of Nigeria (CBN), saying that 62 projects were supported using the intervention. Mr Tayo Omidiji, Head of Strategy and Communications Department, NEXIM Bank, made the clarification in a statement issued in Abuja. Omidiji Read More…
LCCI seeks OPS inclusion in ESP Committee for economic recovery
The Lagos Chamber of Commerce and Industry (LCCI) has called for inclusion and engagement of the Organised Private Sector (OPS) in the Economic Sustainability Plan (ESP) Committee for economic recovery during and after COVID-19 pandemic. Mrs Toki Mabogunje, LCCI President, made the call at the Chamber’s third edition on the state of the Nigerian Economy Read More…
Nigeria’s bourse simplifies capital market investment with comic book
The Nigerian Stock Exchange (NSE) has reiterated its commitment to promoting financial literacy with its comic series, ‘StockTown’, issued to simplify ways of investing in the Capital Market. Mr Olumide Orojimi, the Head, Corporate Communications, NSE, said in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos that the Read More…