PATRICK ABANG, Calabar – Despite its installed capacity of 240000 birds per day, Cross River State Governor, Ben Ayade has said the state owned chicken processing factory, Calachika, has been hit by soaring demands ahead of Christmas celebration. Governor Ayade made this known during the weekend while conducting the...
CBN
The Debt Management Office (DMO) has clarified that loans from China to Nigeria, which presently stood at 3.59 billion dollars, constitutes only 9.4 per cent of the country’s total foreign debt stock of 37.9 billion dollars. Ms Patience Oniha, the Director-General of DMO made this known in an interview...
Vice President Yemi Osinbajo has expressed optimism that the African Development Bank (AfDB)’s 600 million dollars support fund for digital and creative enterprise in Nigeria will be ready by early 2022. VP Osinbajo said this at an interactive session with graduands of Edo Tech Park, in Benin City, Edo,...
By EZEKIEL OBI, Abuja – The Economic and Financial Crimes Commission (EFCC) has arrested four members of a syndicate who specialize in counterfeiting foreign currencies, especially the dollar, for sale to unsuspecting members of the public. The anti-graft agency also warned Nigerians to be wary of the activities of...
The South East Amalgamated Markets Traders Association (SEAMATA), has sent a “Save Our Souls (SOS)” signal to the Central Bank of Nigeria (CBN) over multiple and indiscriminate charges and deductions on customers by commercial banks. SEAMATA is the umbrella association of traders in all the markets in the South...
By OLA MODUPE, Lagos – The Lagos Commodities and Futures Exchange (LCFE) on Friday announced a partnership with Heritage Bank to create a structure for trading on wheat contracts and its allied products. The Managing Director, LCFE, Mr Akin Akeredolu-Ale, disclosed this in a statement on Friday while addressing...
The nation’s external reserves fell by $610m last month, figures obtained from the Central Bank of Nigeria on Thursday revealed. The reserves dropped to N$41.22bn as of November 29 from $41.83bn on October 29. The CBN also disclosed that at the present level, the external reserves could meet the...
The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the e-Naira from hackers and fraudsters. The Director, Corporate Department, CBN, Mr Osita Nwanisobi, disclosed this on Wednesday at a Central Bank Fair in Kano. The theme of the fair is...
As a way of tackling the problem of growing youth unemployment in Nigeria, the Central Bank of Nigeria (CBN) on has launched the Tertiary Institutions Entrepreneurship Scheme (TIES) in Abuja. The apex bank also presented cheques of N5million each to six pioneer beneficiaries of the scheme to help boost...
By JOY ADARA, Abuja- The Central Bank of Nigeria (CBN) has called on the Federal Government to prioritise investment in infrastructure to improve the country’s business environment and boost economic growth. The CBN Governor, Mr. Mr Godwin Emefiele, made the call on Tuesday night in Abuja while reading the...
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed this in its Nigeria Development report, which was released on Tuesday. The report...
The Central Bank of Nigeria (CBN) has said it was targeting 25,000 women and youths in Ebonyi, during its one-week digital financial inclusion drive. The Director, Development Finance Department of the bank, Mr Philip Yusuf stated this at Onueke, headquarters of Ezza South Local Government Area of the state...
PATRICK ABANG, Calabar – Mr Emmanuel Esezobor, The Acting Managing Director of First Royal Micro Finance Bank (FRMFB) Calabar, a subsidiary of the Brotherhood of the Cross and Star has disclosed that the bank is ready to raise equity of N500m before the first quarter of 2022. Speaking in...
The Central Bank of Nigeria (CBN) says it is targeting 25,000 women and youth in Jigawa state who have no bank account to do so, in an ongoing five-day Digital Financial Inclusion drive. Mr Audu Amadu, the Head of Development Finance, Jigawa branch office, said this while fielding questions...
The Kogi State Government has given a 48-hour ultimatum to the Economic and Financial Crimes Commission (EFCC) to apologise and retract a malicious statement that it kept N20 billion bailout fund meant to pay salaries in a commercial bank meant to yield interest. In a briefing on Sunday in...
Kogi State’s Commissioner for Information and Communication, Mr Kingsley Fanwo, has said that the state government has facts to disprove the allegations the Economic and Financial Crimes Commission (EFCC) had leveled against it. The commissioner disclosed this in a statement made available to journalists, stating that the Kogi Government...
Senate President Ahmad Lawan has disclosed that the National Assembly will pass the 2022 Appropriation Bill before Christmas. Lawan made the disclosure on Friday night, while receiving the New Telegraph’s Lifetime Achievement Award in Politics, alongside other Nigerians who had distinguished themselves in public service and the private sector....
The Economic and Financial Crimes Commission (EFCC) has confirmed the return of N19. 33 billion Kogi state salary bailout funds, recovered by the commission, to the Central Bank of Nigeria (CBN). Spokesperson for EFCC, Mr Wilson Uwujaren, disclosed this in a statement in Abuja, on Friday. The News Agency...
The Kogi Government says it will again, be vindicated in the EFCC alleged return of bailout fund for workers’ salaries to the Central Bank of Nigeria (CBN) The News Agency of Nigeria (NAN) reports that the Economic and Financial Crimes Commission (EFCC) on Friday, said it returned the N19....
The National Economic Council (NEC) says President Muhammadu Buhari has approved a fresh N656 billion Bridge Financing Facility to the 36 States. Hajiya Zainab Ahmed, Minister of Finance, Budget and National Planning, disclosed this on Thursday at a virtual NEC meeting presided over by Vice President Yemi Osinbajo, which...