CBN again injects $210 million into forexmarket

The Central Bank of Nigeria, CBN, has again injected the sum of $210 million into the inter-bank Foreign Exchange Market.

Figures obtained from the CBN last Tuesday indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the Small and [...]

Sat, 22 June 2019

NAICOM replaces SIP, introduces revise insurance distribution policy

The National Insurance Commission said it will be introducing a revised insurance distribution channel to non-insurance bodies, to enable them sell insurance to every part of the country.

NAICOM said the new distribution licences will replace the State Insurance Policy, SIP, which was cancelled [...]

Sat, 22 June 2019

Price of cooking gas drop as inflation rate surge

Despite the increase in inflation rate witnessed in May 2019, the cost of cooking gas dropped significantly during the period.

The National Bureau of Statistics, NBS, reports that the average cost of refilling a five kg cylinder of Liquefied Petroleum Gas dropped to N2,028.04 in May 2019, from [...]

Sat, 22 June 2019

FG saves N273bn from IPPIS in two years

A total of N273.8billion was saved from the implementation of the Integrated Personnel and Payroll Information System, IPPIS, between 2017 and 2018.

The Accountant-General of the Federation, Ahmed Idris, told heads of federal universities that the amount would have been lost, but for the federa [...]

Sat, 22 June 2019

Nigeria to solicit $2.7bn foreign loan in 2019

Nigeria is looking to borrow $2.7billion from foreign sources including commercial sources such as Eurobonds, the Debt Management Office has disclosed.

The debt office, made this know while clarifying a report that claim the federal government had ruled out the issuance of Eurobonds in 2019.

Sat, 22 June 2019

CBN refutes reports on FDI decline in 2018

The Central Bank of Nigeria, CBN, has refuted media reports that suggested a decrease of over 40percent in Foreign Direct Investment inflows into the country in 2018.

The apex bank said FDI rather witnessed an increase during the financial period, as total capital inflows to Nigeria stood at $1 [...]

Sat, 22 June 2019

Domain name: NITDA to sanction MDAs, others

The National Information Technology Development Agency, NITDA, has warned data centres and cloud service providers in the country to desist from hosting government data abroad or risk facing sanctions.

Director General of NITDA, Dr Isa Ibrahim, advised ministries, departments and agencies to se [...]

Sat, 22 June 2019

Swiss govt donates funds for urban, climate dev’t in Africa

The Swiss government has agreed to make available the sum of 3.2million Swiss francs for funding of African initiatives through the African Development Bank.

The agreement which was signed by the continental bank and the State Secretariat for Economic Affairs of the Government of the Swiss Conf [...]

Sun, 16 June 2019


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