Intervention Funds: Senate Invites Emefiele

The Senate yesterday summoned the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele over Federal Government’s intervention funds designed to get the economy out of recession. The lawmakers wanted to know the progress so far made in the implementation of the programme. The upper chamber asked the apex bank to consider implementing expeditiously, the […]

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Nigeria Owes Foreign Investors $11.41bn

The Debt Management Office (DMO) has revealed the the Federal Government, the 36 state governments, and the Federal Capital Territory Administration currently owe foreign creditors a total of $11.41bn. Statistics obtained from the DMO on Monday showed that while the Federal Government’s foreign debt stood at $7.84bn as of December 31, 2016, the 36 states […]

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China Pumps $13bn Investments Into Nigeria

The Chinese Deputy Ambassador to Nigeria, Mr. Lin Jing, yesterday in Abuja, said Chinese investments in country have hit over $13 billion. He said China was also demonstrating its commitment to Nigeria’s friendship and development through the $1.3billion Lagos-Ibadan Railway Project. He added that the $326 million 30 rice mills projects slated for the various […]

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CBN Pumps $195m Into FOREX Market

The Central Bank of Nigeria has released fresh $195m into the foreign exchange market. This development is part of its wholesale intervention to ensure liquidity in that segment of the market. The Acting Director of Corporate Communications Department, CBN, Mr. Isaac Okoroafor, released a statement which reads thus: “The Central Bank of Nigeria on Tuesday, […]

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