As the Dollar Sells for N500… An objective evaluation and analysis of Nigeria’s economic collapse points directly to President Muhammadu Buhari and his unprecedented inaction and monumental blunder in failing to appoint his ministers and form a government until 6 months after he was sworn into office. Furthermore, the delay in having a budget passed […]
It is exactly one year since Muhammadu Buhari was sworn in as President of the Federal Republic of Nigeria. Ahead of the official commemoration of his ascension to power, Buhari spoke with some journalists on the issues that have dominated his reign. Excerpts: Looking at the last one year, how would you assess what has […]
By Daniel Osofisan | Jos, Nigeria | March 27, 2016 – The naira has been on a steady decline for the past few months. The disparity between rates at the Central Bank of Nigeria (CBN) and that of the parallel market is as clear as the difference between day and night. Many economic analysts and keen […]
By Leke Ademo | NNP | March 11, 2016 – I grew up in Nigeria at a time when Nigeria was still in its early developmental stage, certain areas seem to have been on a decline. It didn’t start today, it has been declining for years, but we did little about it until it became […]
By Emeka Chiakwelu / NNP / March 4, 2016 – “… Likened unto a foolish man, which built his house upon the sand: And the rain descended, and the floods came, and the winds blew, and beat upon that house; and it fell: and great was the fall of it.” -Matthew 7:27 By now we […]
-punch Oyetunji Abioye The naira rose further on Wednesday against the United States dollar at the parallel market to 300 from 310 on Tuesday. The local currency, which closed at 391 against the greenback last Thursday, had risen to 375 and 310 on Monday and Tuesday, respectively. While linking the recent gain recorded by […]
Oyetunji Abioye and Ade Akanbi-Punch The Central Bank of Nigeria needs to devalue the naira by adjusting the official exchange rate of N199/dollar to a more market-determined exchange rate, the International Monetary Fund has said. This position sharply differs from that of President Muhammadu Buhari, who insisted that Nigeria would not devalue the currency. A […]
REVEALED: The IMF advice that crushed BDCs •How foreign currency hawkers became victims of Lagarde’s visit By ISAAC ANUMIHE The Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde came to Nigeria on January 4 to begin a three-day working visit. Her white private jet with registration number ZS PNP touched down on Nigerian […]
*As stock market losses peak at N1.2 trillion *Market capitalization down by 12.36 per cent By Emeka Anaeto, Economy Editor & Babajide Komolafe LAGOS—The financial sector appears to have entered a heightened pressure, yesterday, as both the foreign exchange and stock market sustained major negative trends. The Naira depreciated further to a 43-year low at […]
Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the apex bank is evolving additional measures to boost the nation’s economy and stabilise the naira. Emefiele made the remark at an Interactive Session with Media Editors in Abuja. He declined to give details of the measures and modalities for their implementation. Don’t ask […]
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