CBN Awards N5m Loans To Graduates Under New Scheme   The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Thursday, launched the Tertiary Institutions Entrepreneurship Scheme designed to tackle underemployment and unemployment in the country. Emefiele, at the launch in Abuja, also presented loans...

Manufacturing Index Expands to 47.3 points, Still Below Positive Zone — CBN   The Central Bank of Nigeria, CBN, said the economy has recorded slight expansion Month-on-Month, MoM, in October 2021 as the Manufacturing Purchasing Managers Index (PMI) rose to 47.3 index points, as against 46.6...

Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W/Bank   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...

CBN Disburses N41.2bn To Cut Wheat Imports   The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the bank has disbursed N41.2bn under its intervention schemes to cut wheat production. Speaking after the Monetary Policy Committee meeting in Abuja on Tuesday, he said, “The...

Nigeria’s Trade Deficit Drops By 61% To $340m   The nation’s trade deficit fell year-on-year (YoY) by 61 per cent to $340 million in July 2021 from $880 million in July 2020. However, receipts from crude oil and gas exports rose by 127 per cent to $3.99...

CBN Retains Lending Rate At 11.5%   The Monetary Policy Committee of the Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday. Other parameters left unchanged...