The Best Defence For The Naira Is To Make Nigeria An Export-Based Economy —GTI

Economic analysts have stressed the need to grow nation's capacity for exports to prop up the value of the naira, which has remained under pressure since last year.Analysts at GTI Securities Limited, in a report entitled 'CBN's tactical devaluation of the naira, what next?' said, "The best defence for...

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Nigeria Not Broke Says Yuguda, As Excess Crude Account Falls Under $3Billion

Minister of State for Finance, Mr. Bashir Yuguda has disclosed that domestic excess crude balance in the federation accounts stands at N19 billion while the excess crude account (ECA) remained $2.60 billion as at the end of January, 2015. While fielding questions from reporters shortly after this month's...

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Electricity: Finland To Collaborate With Nigeria In The Area Of Power Supply

The Finnish Ambassador to Nigeria, Her Excellency, Ms. Pirjo Suomela-Chowdhury today [on Wednesday] held discussions with the Minister of State, Power, Hon.  Mohammed Wakil, with a view to ascertaining areas of possible collaboration between her country and the Government in the area of power supply.The...

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Landmark: Apple Becomes First Company To Break $700 Billion Market Value

The United State Based Tech giant, Apple, has recorded another landmark by becoming only the first company in history to break through the market value of $700 billion.Presently, Apple is worth $710 billion, this was as a result of her market Shares surging by over 1.9 percent to close at $122.02.The...

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Nigerians Be Prepared: The Dollar Will Sell Above N220 After February Elections

The President, Association of Bureau de Change Operators, Mr. Aminu Gwadabe has added more pressure on the already weakened and devalued Naira by predicting that the Nigeria currency will take a very big hit after the February general elections. The Naira has been under pressure since the fourth quarter...

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President Jonathan Receives Forensic Report On NNPC

The number one citizen of the Federal Republic of Nigeria, President Jonathan, yesterday received the forensic report carried out on the activities of the Nigerian National Petroleum Corporation. The forensic report was presented to the president by an accounting firm referred to as PriceWaterHouse. The...

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The Naira Is Likely To Be Steady Next Week On Dollar Sales By Oil Companies

The naira is likely to be steady next week on dollar sales by oil companies, while East African currencies are expected to be supported by central bank interventions, Reuters has reported. The naira is likely to trade around its present levels next week on the back of expected month-end dollar sales by some energy companies and intervention by the central bank. The local currency has remained volatile...

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Nigeria-China Trade Volume Exceeds $16bn In 2014 – Official

The trade volume between Nigeria and China in 2014 exceeded 16 billion dollar in 2014, Deputy Chief of Mission, Chinese Embassy, Mr Zhang Bin has said. Zhang told the News Agency of Nigeria (NAN) on Thursday in Abuja that the figure exceeded that of 2013, which he put at 13.5 billion dollar. According to him, China is currently the third largest trading partner of Nigeria adding, that the country...

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We Withdrew N310 Billion From Excess Crude Account In Six Months, FG Discloses

The Federal Government withdrew a total sum of N310.05bn from the Excess Crude Account within the first six months of this year, a document obtained from the Budget Office of the Federation showed. The PUNCH Reports that the 2014 second quarter budget implementation report jointly signed by the Minister...

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Updated: My Friends Must Vote Launches Sunday, 21st Of December, 2014

My friend must vote 2015 is a non government organization with the aim of encouraging Nigerians to carry out their civil right by participating in the coming general elections #NIGgenElection and the subsequent ones. We want people to understand that it is their civil right and responsibility to...

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My Friends Must Vote Launches Sunday, 21st Of December, 2014

My friend must vote 2015 is a non government organization with the aim of encouraging Nigerians to carry out their civil right by participating in the coming general elections #NIGgenElection and subsequent ones. To restructure e the minds of people against the held beliefs that their votes...

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Breaking: Okonjo Iweala Presents 2015 Budget Before The National Assembly

Will the 2015 budget be presented this year ahead of the new year? What will be the benchmark for the 2015 budget? Will the president be presenting the budget to the National Assembly? The above questions are no longer pertinent for the event of today at the National Assembly has put to rest all these...

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Bank Charges Discouraging Use Of ATMs –NISER

The Nigeria Institute of Social and Economic Research on Tuesday called on the Central Bank of Nigeria to discourage all unnecessary charges by Deposit Money Banks for the use of Automated Teller Machines and Point of Sales Terminal. The Director-General of the institute, Prof Olufemi Taiwo, stated...

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Banks In Crisis, As Overnight Lending Rises By Over 44%

Exactly two weeks ago, the Central Bank of Nigeria's Monetary Policy Committee raised the Cash Reserve Ratio on private sector deposits from 15 per cent to 20 per cent. The effect of the above action is now telling on banks seriously, as Deposit Money Banks are experiencing difficulties in raising...

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Crude Oil Price Falls Again, Now At $66

The international benchmark Brent crude on Monday was down more than four per cent to as low as $66.12 per barrel, its lowest level since 2009. The United States' West Texas Intermediate also lost more than three per cent and cracking $64 per barrel for the first time since 2009. Brent had recently...

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Anxiety, As Oil Marketers Ignore FG Fuel Import Allocation

Oil marketers have declined to go ahead with the importation of petrol for the fourth quarter despite the Federal Government's approval of the import allocation for the quarter. Although a part of the subsidy arrears owed marketers had been paid by the government, oil marketers said they were unwilling...

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Oil Slump: Federal Government Vows To Protect Economy; And How Will They Do That?

The Federal Government on Monday vowed to protect the economy from any external shock that might arise from the global drop in oil prices. It also warned that it would not allow "merchants of fear" to distort facts about the economy in order to sow any seed of hopelessness. The Minister of Finance,...

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