Business
The IMF, in its World Economic Outlook for April 2023 titled ‘A Rocky Recovery’, forecast a three percent growth in the country’s gross domestic product (GDP) for 2024. The projection by the Washington DC-based global lender comes days after the World Bank revealed that the naira recorded a 10.2 percent depreciation in 2022. The International […]
The country’s external reserves fell by $1.46bn between January and March, figures obtained from the Central Bank of Nigeria have revealed. The reserves ended February 27, 2023, at $36.67bn. Figures obtained from the CBN’s data on the movement of external reserves on Sunday showed that the reserves, which stood at $36.99bn as of the end […]
The Central Bank of Nigeria has directed commercial banks to start paying the new naira notes to customers over-the-counter in the banking halls. This was according to a statement today by the bank’s Director of Corporate Communications, Osita Nwanisobi. The apex bank assured Nigerians that the queues at Automated Teller Machine stands will end soon […]
The Governor of the Central Bank of Nigeria, Godwin Emefiele has assured that the value of old Naira notes of 200, 500 and 1,000 will still be redeemed even after they have ceased to be legal tender by February 10 deadline. He said the redemption was in tandem with the law, precisely Section 20 (3) […]
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to invest in export infrastructure and other mechanisms to sustain the country’s trade surplus of N1. 97 trillion recorded in the second quarter of this year. Addressing a press conference on the state of the economy today in Lagos, LCCI president, Michael […]
President Muhammadu Buhari will on Tuesday, present the Governor of Cross River State, Professor Ben Ayade, a giant stride award in recognition of his excellent performance in rice production in Nigeria. In a statement made available to newsmen by the media aide, Ayade said his administration has excelled with the establishment of Africa’s first vitaminized […]
Nigeria’s inflation rate in the month of December 2021 rose to 15.63% from 15.4% recorded in November 2021, after 8 months of consecutive decline. This is according to the consumer price index report, released by the National Bureau of Statistics (NBS). Nigeria’s inflation rate had been on a steady decline in the past 8 months […]
The United States has announced grant funding for a feasibility study to support the safe distribution of food and medicine across Ghana. The assistance will facilitate the deployment of temperature-controlled logistics infrastructure for FreezeLink, a Ghanaian company specialized in cold chain logistics. According to a statement by the U.S. Trade and Development Agency (USTDA) director, […]
The South Korean government has expressed its willingness to invest in Cross River State. South Korean Ambassador, Kim Young-Chae gave the indication in Abuja during a meeting with Governor Ben Ayade. Ambassador Young-Chae who explained that big corporations in South Korea were set to do business in Cross River if encouraged, solicited close ties with […]
The net worth of former US President, Donald Trump has dropped by about 700million dollars to 2.3billion dollars during his time as president. The presidency cost Trump an estimated $700m in lost wealth, according to a new analysis of his fortune, with the coronavirus pandemic and Capitol siege slashing income and damaging his brand. Bloomberg […]
