Currency

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four deposit money banks for the cultivation of maize and soybeans in three states. The banks are Stanbic IBTC with the sum of N2bn; Sterling Bank Plc, N1.5bn; and Union Bank Plc, N1bn. The funding is a fallout of […]

President Donald Trump said Monday the US central bank has been “very, very destructive” to the economy by raising interest rates too quickly. Trump has repeatedly criticized the Federal Reserve and called on the independent policymakers to lower the benchmark interest rate but he said in an interview with CNBC “they certainly didn’t listen to […]

China continued to ramp up the rhetoric against the U.S. on Friday, with a former Chinese central bank chief saying that further escalation in trade tensions between Washington and Beijing could greatly hurt the global economy. “The consequence of the China-U.S. trade war not only will be reflected in both countries, but will also extend […]

Chinelo Anohu-Amazu, the immediate past director general of the National Pension Commission (PenCom), has been appointed to the International Advisory Board of the University of Edinburgh Business School, Scotland, it has been announced. The university announced that Anohu-Amazu will join Joanne O’Callaghan, the vice president of State Street Global Services, who has also been appointed […]

Abdulkhdir Baba Hassan, the president of the Niger State Chamber of Commerce Industries Mines and Agriculture, has attributed the low patronage of the 17th Niger National Trade Fair by investors, exhibitors, states and local governments to the security situation in the northern part of the country. Hassan, who made this known at the opening of […]

The Federal Inland Revenue Service (FIRS) says the country’s taxpayers will soon increase to 45 million. Wahab Gbadamosi, the head, communications and SERVICOM department, in a statement in Abuja on Monday said the Executive Secretary, Joint Tax Board (JTB), Mr Oseni Elamah, disclosed this at the presentation of the new Taxpayer Identification Number (TIN) Registration […]

The National Bureau of Statistics (NBS) said the internally generated revenue (IGR) of 36 states and the Federal Capital Territory (FCT) for fourth quarter 2018 was N324.59 billion compared to N264.34 billion recorded in third quarter of the same year. NBS disclosed this in “IGR at State Level for Fourth Quarter and Full Year 2018” […]

THE African Development Bank (AfDB) has so far invested $258 million towards the rehabilitation of damaged infrastructural facilities in the Northeast region of the country. Akinwunmi Adesina, the President of AfDB,  disclosed this when at the end of a visit to president Moahammadu Buhari in Abuja. He said the affected areas of the intervention included […]

The dollar edged up against a basket of its key rivals on Tuesday with investors erring on the side of caution as they looked for more concrete signs of stabilisation in the global economy. With most currencies staying within well-trodden trading ranges ahead of European and Chinese data, the Australian dollar was the surprise loser […]

The Nigeria Employers’ Consultative Association (NECA) has called for the deregulation of the downstream sector of the oil and gas industry to boost the economy. Timothy Olawale, the director general of NECA,at a stakeholders’ meeting of manufacturers  in Lagos, said except fuel subsidy was removed, Nigerians would continue to suffer intermittent scarcity. He said the […]