Business92 Videos

Textile industry can create 2 million jobs, save $4bn, says CBN

To reposition the Nigerian economy and make it self-reliant, the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has rallied stakeholders’ support for the textile and garment industry, saying it is capable of creating over two million jobs if fully harnessed. In addition to the high employment generation capacity, Emefiele also noted that as one […]

SON seizes N38m substandard aluminium roofing sheets

The Standards Organisation of Nigeria (SON) has seized sub-standard aluminium roofing sheets worth over N38 million in a move to ensure that only goods that conform to the Nigerian Industrial Standards (NIS), are allowed in the market. The Director, Inspectorate and Compliance, SON, Obiora Manafa, at an enforcement exercise in Ogba area of Lagos, explained […]

Why fiscal policy support is needed now, by FSDH

The Central Bank of Nigeria (CBN) may be reaching the limit of its monetary policy tools in stimulating the economy. This is especially so if the fiscal complements are not immediately activated, particularly, in ensuring security, facilitating the movement of agricultural produce and the seamless export of available stock of commodities. A research by FSDH […]

ECOWAS finance ministers inch closer to single currency

West African finance ministers and central bank governors agreed on technical issues surrounding the creation of a single currency for the Economic Community of West African States next year. “At a ministerial level, we’ve established a roadmap” for the establishment of a new currency, Ivory Coast Finance Minister Adama Kone told reporters Tuesday after the […]

Nigeria’s inflation rate hits 11.40% in May —NBS

The National Bureau of Statistics, says the Consumer Price Index which measured inflation increased to 11.40 per cent (year-on-year) in May from 11.37 per cent recorded in April. The NBS made this known in its “CPI and Inflation Report’’ for May released in Abuja on Monday on its website. The bureau said the figure was […]

CBN quashes talk of change to exchange rate policy

cbnNigeria’s central bank said it made no change to its naira policies, after a revision on its website led some analysts to speculate that it was ending a system of multiple exchange rates. “Nothing has changed in Nigeria’s exchange-rate structure,” and the naira’s value continues to be determined by trading in the Investors’ & Exporters’ […]

SEC suspends Oando Plc’s AGM

Following the ex-parte order of the Federal High Court, Ikoyi Lagos in suit no: FHC/L/CS/910/19, in Mr. Jubril Adewale Tinubu and Anor V Securities and Exchange Commission (SEC) and Anor, the commission has announced the suspension of Oando Plc’s Annual General Meeting (AGM) slated for Tuesday June 11, 2019 till further notice. According to SEC, […]

AMCON, Justice Dimgba fine-tune recovery of N5tr outstanding debt

As the noose on bad debtors tightens under the latest enforcement strategy, Justice Nnamdi Dimgba of the Federal High Court, Asaba, at the weekend, re-echoed the fact that the task to strengthen the Asset Management Corporation of Nigeria (AMCON’s) recovery drive remains a national concern and a huge burden to the judiciary and the country […]

Aviation unions suspend strike, reopen NCAA offices

The offices of the Nigerian Civil Aviation Authority (NCAA) were on Friday reopened for operations following the suspension of the two-day strike by aviation unions. The News Agency of Nigeria (NAN) reports that the unions are: Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Union of Air Transport Employees (NUATE). Others […]