CBN renews strategy for Naira-Yuan swap deal

Minister intensifies search for infrastructure pact World Bank warns of governance, unstable policies The Central Bank of Nigeria (CBN) yesterday, raised the hope that the lingering Naira-Yuan swap deal will be achieved as part of […]

Direct crude sale saves Nigeria N102.6b

By putting an end to the crude-for-products exchange arrangement, popularly known as crude swap, Nigeria was able to save N102.6bn between April and July this year. In February, the Minister of State for Petroleum Resources, […]

US 2016 deficit jumps but less than forecast

After falling for several years, the US budget deficit jumped nearly 34 percent in fiscal 2016, the Treasury Department announced Friday, but the shortfall was still smaller than originally planned. The Obama administration’s budget for […]

DBN to start in Nigeria, says Buhari

President Muhammadu Buhari on Friday declared that a new bank, Development Bank of Nigeria(DBN) would soon begin operations to strengthen the government’s economic diversification programme. Addressing the German-Nigeria Business Forum in Berlin, President Buhari said […]

Recession: Nigeria to be free in 2018

A Lagos-based financial expert, Mr Bismarck Rewane, on Friday expressed optimism that Nigeria would get out of recession by 2018 with the right economic policies. Rewane, also the Chief Executive Officer, Financial Derivatives Ltd., said […]

FOREX | CBN monopolize Trading

• First Bank becomes sole dealer • 195 BDCs suspended • ‘Why decision has changed nothing’ The Central Bank of Nigeria (CBN) might have inadvertently instituted a monopolistic system solely enjoyed by First Bank of […]

NERC fines electricity distribution firms N6.2m

Two electricity distribution companies have been fined N6.2 million over their failure to comply with the Forum Office’s rulings in respect to complaints filed by their respective customers. The Nigerian Electricity Regulatory Commission (NERC)  in […]

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