Just In: CBN Restricts Sale Of Forex To Importers Of Textiles
By Lukman Amusa In order to encouraged the growth of the textile and cotton industry in Nigeria, the central bank governor Mr. Godwin Eefiele, has directed commercial banks and bureau…
Group wants EFCC to investigate alleged diversion of $35mn
A nongovernmental group, Human and Environmental Agenda (HEDA), has asked the Economic and Financial Crimes Commission (EFCC) to probe the Minister of Industry, Trade and Investment, Okechukwu Enelamah, over alleged…
Oil Prices Rise On Trade Deal Hopes As OPEC Cuts Supply
Oil prices rose on Monday, buoyed by output cuts by Organization of the Petroleum Exporting Countries and reports that the United States and China are close to a deal to…
Nigeria Loses $16bn To Production Sharing Contracts —NEITI
The Nigeria Extractive Industries Transparency Initiative said that Nigeria lost at least $16 billion in ten years due to non-review of the 1993 Production Sharing Contracts with oil companies. This…
Currency Traders Expect Naira To Appreciate Next Week
The naira could inch up next week as uncertainty eases for foreign investors, following the conclusion of the presidential and National Assembly elections, traders had said. Nigerian and Kenyan currencies…
Umahi Urges People Not To Leave Agriculture For Politics
Governor David Umahi of Ebonyi has advised the people not to abandon their farm work and other agricultural ventures because of the general elections. Umahi gave the advice on Thursday…
Stocks Fall Further, Investors Lose N365bn In Three Days
Investors in the nation’s stock market lost a total of N365bn in the last three days of trading in February. The equities market opened the month with a market value…
Over $48bn Investment Opportunities Exist In Nigeria’s Oil Industry — NNPC
The Nigerian National Petroleum Corporation, NNPC, Thursday, disclosed that there are currently over $48 billion investment opportunities in the Nigerian petroleum industry, while it called on foreign investors to tap…
Running An Inclusive Govt Will Boost Capital Market, Economist Tells PMB
An Economist, Mr. Boniface Okesie, has said that inaugurating an inclusive government will expedite a rebound of the capital market. Okesie, President, Progressive Shareholders Association of Nigeria, said this in…
CBN Says Nigeria Records 57.1 PMI Points As At February
The Central Bank of Nigeria (CBN), said the Manufacturing Purchasing Managers’ Index (PMI) stood at 57.1 index points as at February, indicating an expansion in the manufacturing sector for 23…
