Economic Confidential

CBN Gets Buhari’s Nod On New Forex Regime

President Muhammadu Buhari has given the Central Bank of Nigeria (CBN) the go-ahead to introduce flexibility in the naira’s exchange rate. The Senior Special Assistant Media and Publicity to the President, Mallam Garba Shehu made the disclosure in an interview...

FG approves $80bn nuclear plants’ construction

The Federal Government of Nigeria has taken a Final Investment Decision (FID) on the construction of $80 bil-lion nuclear plants to be constructed and operated by a Russia nuclear energy firm, Rosatom, it was learnt. A shared document between the...

After Tomato Ebola, Maize Ebola Threatens Food Production

At a period Northern Nigeria experiences tomato Ebola, there is a fear of another food scarcity with Maize Ebola in the South. The new maize disease has been uncovered in the South West geopolitical zone of the countryby the Institute...

Stock market lost N1.732tn in one year under Buhari

The Nigerian stock market crashed by N1.732tn within one year of the Muhammadu Buhari-led Federal Government. The Nigerian Stock Exchange data showed that the NSE market capitalisation on May 28, 2015 was N11.658tn, while that of May 27, 2016 was...

Public Offices Spend N5.3tr for Salaries, Overheads

A new report has disclosed that nearly half of the federal and 36 state governments’ budgets of N12.2 trillion for the year will be spent on salaries and overheads. The investigative report published by the Daily Trust states that each...

CBN Governor: The Legal Implication of Suspension

On the 20th February, 2014, President Goodluck Jonathan suspended Mallam Sanusi Lamido Sanusi as the Governor of Central Bank of Nigeria. The Presidency premised the suspension on an allegation of “financial recklessness”. Expectedly, the Nigerian polity went frenzy as...
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