Economy articles

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FG Unfolds Plans For $29.960bn Foreign Loan

FG Unfolds Plans For $29.960bn Foreign Loan

The Federal Government has given details of its plans to take a $29.960 billion foreign loans designed to address infrastructure deficit in the country. Festus Akanbi, Special Assistant on Media to the Minister of Finance, Kemi Adeosun, said in a statement issued in Abuja that the borrowing is a three-year-plan covering proposed projects for 2016

Private Sector Is Key to Poverty Eradication-Elumelu

By TELL Do you know why past governments did not succeed in efforts to eradicate poverty in Nigeria? There is a man who has an answer to that question. He is no other person than Tony Elumelu, chairman, Heirs Holdings and Tony Elumelu Foundation. He said the reason all the entrepreneurship schemes fell short of

FG, ODUACCIMA Collaborate on Regional Trade Fair

Asiwaju Olaitan Alabi, the chairman 2014 Odua International Trade Fair Planning Committee, has revealed that the Federal Government would be collaborating with Odua Chamber of Commerce, Industries, Mines and Agriculture, ODUACCIMA, for a regional international trade fair, which is expected to attract over 5,000 exhibitors and participants. Alabi made this known at a press conference held at the MKO

Scarcity of Aviation Fuel Halts Air Travels

Due to the shortage of aviation fuel that hit the country this week, local and international flight operators in the country are having a hard time meeting up with their schedules. Jet-A1, commonly known as aviation fuel, has been reportedly scarce in some cities since Monday with Abuja one of the cities seriously affected. The

CBN

CBN Issues New Operational Guidelines for Banks

  As part of its efforts to sanitise the banking sector, the Central Bank of Nigeria, CBN, has issued a new set of corporate governance guidelines for every bank in the country. As contained in the new guideline, investors are now prohibited from owning more than five per cent stakes in any bank without prior

Federal Government Appoints Emefiele As CBN Governor

Godwin Emefiele, the  chief executive officer, Zenith Bank Plc, has been appointed as substantive Governor of the Central Bank of Nigeria, CBN. He replaces Sahusi Lamido Sanusi, who was suspended this morning by President Goodluck Jonathan. Bayo Adelabu, executive director, First Bank Plc has also been named deputy governor, replacing Tunde Lemo. The names of the

President Jonathan Suspends CBN Governor Sanusi

  In what appears to be a tale of the hunter being the hunted, Lamido Sanusi, governor, Central Bank of Nigeria, CBN, has been suspended by President Goodluck Jonathan. Sanusi who has been having a running battle with the petroleum ministry and the Nigerian National Petroleum Corporation, NNPC, over his allegations of $20 billion missing

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