N120bn Petrol Subsidy To Double As CBN Adjusts Exchange Rate       As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official rate from its website, all is set for labour unions to lock horns with the...

Fertiliser Imports Rise By 84% To N117bn       Despite various measures to encourage local production, a total of about N117 billion (or $247.91 million) was expended on fertiliser importation in the past year. Fertiliser imports increased by $37.71 million in 2019 to $247.91 million last year, representing...

Banks Slash Dollar-cash Deposits to $5,000 Monthly       Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity confirmed the new policy yesterday. However, the new policy...

The failure of Political, Security and Economic Sorcery, by Salisu Na'inna Dambatta       Nigeria is currently facing a triplet of experts, specialists and pundits in political, security and economic sorcery. They always predict doom for Nigeria. They are simultaneously trading their wares in a country they...

LCCI, NEXIM Bank Seek Policies To Grow Non-oil Exports       The Director-General, the Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, and Managing Director of the Nigerian Export-Import Bank (NEXIM), Abba Bello, have called on the government to create policies that would increase the...

Nigeria Loses $8.8trn To Capital Flight       The House of Representatives has urged the Federal Government to develop an effective mechanism and strategy to prevent the persistent occurrence and address the menace of capital flight in Nigeria. The House said it was aware of the Central Bank...