Business

Remittance Fraud: CBN to freeze accounts of illegal operators

The Central Bank of Nigeria, CBN, has advised Nigerians in The Diaspora to desist from patronizing illegal International Money Transfer Operators, IMTOs, or risk losing their money to them. 

The bank, in a statement from its Acting Director, Corporate Communications Department, Mr. Isaac O [...]

Fri, 11 November 2016


Borno state to gets $1m AfDB grant to reduce malnutrition

A total of $1million has been approved by board of the African Development Bank, AfDB, for immediate interventions for victims of violence in Borno state.

The grant which was approved by the executive directors of the bank as an emergency assistance to support the fight against malnutrition in [...]

Fri, 11 November 2016


Nigeria has lost $450m to hackers, says Shittu

Nigeria is said to have lost over $450million in 3,500 cyber-attacks unleashed on the country’s Information Communication Technology, space in recent times.

The Minister of Communications, Mr. Adebayo Shittu, who made the revelation in Abuja, said investigations carried out by the ministr [...]

Fri, 11 November 2016


Naira stabilizes as DSS raids BDC outlets in Abuja

The recent raid of Bureau de Change outlets by the men of the Department of State Services, DSS, may have finally paid off, as the open market in Abuja has maintained the N400 to a dollar mark set for dealers.

Officers of the DSS last week, raided major Bureau de Change offices in Abuja in an a [...]

Fri, 11 November 2016


2017 budget in its final stage of preparation – Udoma

The Minister of Budget and National Planning, Sen. Udo Udoma, has assured that the 2017 national budget will soon be presented to the lawmakers for approval, as the document is in its last stage of preparation.

Reacting to the perceived setback in the budgeting process as expressed by some Nige [...]

Fri, 11 November 2016


Ongoing infrastructural investment will yield economic growth - Osinbajo

Vice-President Yemi Osinbajo, has said the Buhari administration is convinced that its huge investments in infrastructure would translate into economic growth for the country, as there is always a positive relationship between infrastructure and growth in any economy.
Speaking at the African Dev [...]

Sat, 05 November 2016


Economic recovery plan to check govt spending

The federal government has said its national economic recovery plan for the next three years, would among other things, guide the country’s economic management and budgeting process over the short to medium-term.
Minister of State for Budget and National Planning, Hajia Zainab Ahmed, who a [...]

Sat, 05 November 2016


Proposed $30bn external loan has better repayment arrangement - DMO

The Debt Management Office, DMO, have said the repayment arrangement for the $29.9billion external loan proposed by President Muhammadu Buhari is more convenient compared to previous loans.
Director General of the debt office, Dr. Abraham Nwankwo, while providing clarifications on the latest for [...]

Sat, 05 November 2016


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