Members of the Organised Private Sector (OPS), including Manufacturers’ Association of Nigeria (MAN), have disagreed with the Central Bank of Nigeria (CBN) that they received $2.83 forex. The apex bank announced penultimate Thursday that it had disbursed $2.83 billion for utilisation in the critical sectors...

The Central Bank of Nigeria, CBN, in June 2016 formally unveiled the much-awaited flexible foreign exchange policy that would allow the foreign exchange interbank trading window to be driven purely by market forces. The policy was designed to effectively remove controls on the naira, allowing...

The Manufacturers Association of Nigeria (MAN) has expressed concern over the current interest rate in Nigeria. MAN, at its annual media luncheon led by its president, Dr. Frank Jacobs Udemba, in Lagos, noted that one of its major focus for the year 2017 is advocacy...

The current scarcity of polyester is threatening the survival of textile industry in Nigeria, investigation has revealed. Polyester fibre is used as cushioning and insulating material in pillows, comforters and upholstery padding. It has high tenacity and durability and can withstand strong and repetitive movements. But...

The plan by the Senate to repeal the Act establishing the Bank of Industry and replace it with a National Development Bank of Nigeria has been criticised by several professional groups and workers’ unions. And if the NDBN Bill, which has passed a second reading...

The Central Bank of Nigeria has announced that it has provided a total sum of $660m to the manufacturing sector in the last one month. The amount, the apex bank said, was made available to the manufacturers through the interbank market to source for raw...