Tuesday, 24 May 2016

CBN Bows to Flexible Forex as Minister Call for Dialogues with Niger Delta Militants

Latest from the Economic Confidential, the factual, authoritative and accessible economic magazine
 
CBN Bows To Flexible Forex Regime, As MPR Remains At 12%
Godwin-EmefieleThe Central Bank of Nigeria (CBN) has retained its standard lending rate, the Monetary Policy Rate (MPR) at 12 percent but announced that there will now be flexibility in the management of its Foreign Exchange .
 
Petroleum Minister Calls for Dialogue With Niger Delta Militants
Contrary to application of brutal force against militants in the Niger Delta region, the federal government has been advised to engage the vandals who have been attacking oil installations in the region in dialogue.
 
Stock Market Loses N35bn Over Negative GDP Growth
The equity market shed N35bn at the close of trading on the floor of the Nigerian Stock Exchange on Monday due to what analysts described as the consequence of the negative growth of the country's Gross Domestic Product.
 
Nigeria Requires N3bn To Power CCTV Annually – Panel
The House of Representatives Committee on the Close Circuit Television Cameras (CCTV) has disclosed that about N3 billion is required to fuel base stations across the country.
 
Nigerian Develops Model To Boost Fuel Supply
A NIGERIAN Petroleum Engineer, Mr. Chinedu Onyeizu, has developed a three node policy and a technology-based model aimed at addressing the challenges of fuel supply in Nigeria by empowering…
 
NNPC Didn't Remit N1.1tn In 2013 – NEITI
The Nigeria Extractive Industries Transparency Initiative has accused the Nigerian National Petroleum Corporation of not remitting $3.8bn (about N748.6bn) and N358.3bn to the Federation Account.
 
FX scarcity: $575m Airlines Ticket Revenue Trapped
As the crisis surrounding access to foreign exchange exacerbates, foreign airlines operating in Nigeria have in excess $575 million, as at the end of March 2016, stocked at the Central Bank of Nigeria (CBN).
 
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