Economy - New Nigerian Politics | New Nigerian Politics

BVN Deadline: 26 Million bank accounts to be frozen

Posted by admin CBN (Central Bank of Nigeria), Economy, Headlines Sunday, November 1st, 2015

By Emeka Anaeto, Economy Editor Barely 24 hours to thedeadline for Bank Verification Number, BVN, less than half of the 52 million bank customers have been registered, a development that may have caused discomfort in the banking industry. Central Bank of Nigeria, CBN, had said no extension would be made while non-registered bank customers would […]

Nigerian Economy: Detractors Can’t Rewrite History – By Olusola Daniel

Posted by admin Articles, Columnists, Economy, NNP Columnists, Olusola Daniel Monday, September 7th, 2015

By Olusola Daniel | Lagos, Nigeria | Sept. 7, 2015 – That the Nigerian economy is the envy of the black race is not in doubt, thanks to the astute management and foresight of a scholar like Dr. (Mrs) Ngozi Okonjo-Iweala, the immediate past Minister of Finance and Coordinating Minister for the Economy. What is […]

NLC to hold mass rally against corruption September 10

Posted by admin Headlines, Nigeria Labour Congress (NLC) Tuesday, August 25th, 2015

NLC to hold mass rally against corruption September 10 (CALABAR) As part of its support for President Muhammad Buhari’s campaign against corruption, the ‎Nigeria Labour Congress (NLC),‎ yesterday in Calabar, Cross Rivers State, said that it has finalised plans to hold a nationwide rally on September 10. Aliyu Wabba, President of the Congress, in his address […]

FG converts 11 states’ bank debts to bonds

Posted by admin Economy, Latest Politics Friday, August 21st, 2015

The National Economic Council chaired by Vice- President Yemi Osinbajo was on Thursday told that Federal Government bonds had been issued to 14 banks on behalf of 11 state governments as part of the plan to restructure states’ loans in commercial banks. As part of the plan, the Federal Government had approved the conversion of […]

Naira rises to 217 against dollar

Posted by admin Economy, Headlines, Naira (Currency) Monday, August 17th, 2015

Naira notes The naira appreciated against the United States dollar at the parallel market on Monday to 217, from 221 recorded on Friday. The naira rose on the back of weak demand for the dollar at the foreign exchange markets. Forex traders linked this to an improved dollar liquidity occasioned by the sustained sales of […]

Nigeria’s foreign debt rises to $10.3bn

Posted by admin Economy, Latest Politics Monday, July 27th, 2015

By Emeka Anaeto, Economy Editor & Peter Egwuatu LAGOS — Nigeria’s external debt stock as at second quarter 2015 stood at about USD10.3 billion, over 10 per cent increase, against USD9.5bn recorded in the first quarter of the year, just as the Federal Government revenue rose to N485.95 billion, up from May figure of N324.7 […]

Naira drops to 235 against dollar

Posted by admin CBN (Central Bank of Nigeria), Economy, General Politics, Headlines, Naira (Currency), Top Stories Friday, July 10th, 2015

CBN Governor, Mr. Godwin Emefiele The naira fell further to a new record low of 235 to the dollar at the parallel market on Thursday, as dollar shortages persisted, foreign exchange dealers said. The President, Association of Bureau De Change Operators, Aminu Gwadabe, said people were holding dollars to protect themselves against further naira […]

CBN slightly adjusts naira-dollar foreign exchange rate

Posted by admin CBN (Central Bank of Nigeria), Economy, Headlines, Naira (Currency) Friday, June 5th, 2015

The Naira and dollar The Central Bank of Nigeria on Thursday made a slight adjustment to its naira-dollar exchange rate peg, data on its website showed. The bank adjusted the rate at which it sold the United States dollar from N197 to N196.95, Reuters reports. Prior to Thursday’s action, the rate had been oscillating […]

Concern over naira as dollar drops

Posted by admin Economy, Headlines, Naira (Currency) Thursday, April 30th, 2015

The dollar sank to its lowest level in more than two months as the currency market adopted a markedly dovish view on the United States monetary policy after data showed the economy virtually stagnating in the first three months of the year. But as the market awaited the outcome of a meeting of the Federal […]

Use dollars for local transactions, go to jail – CBN

Posted by admin CBN (Central Bank of Nigeria), Economy, Headlines Wednesday, April 8th, 2015

CBN Governor, Mr. Godwin Emefiele The Central Bank of Nigeria on Tuesday raised concerns over the increasing use of foreign currencies as a medium of exchange in the country and warned that persons caught in the illegal act risked a six-month jail term upon conviction. The central bank said in a statement that some individuals […]