WEEKLY remittances from Nigeria's diasporans has increased by $5m over recent weeks to $30m a week as a result of changes in government policy according to the Central Bank of Nigeria (CBN) governor Godwin Emefiele.
With the Nigerian economy in dire straits as a result of the global economic meltdown precipitated by the...
CENTRAL Bank of Nigeria (CBN) governor Godwin Emefiele is facing the prospect of a two year jail term for contempt of court after he failed to honour a judgement mandating the federal government to pay a N182bn ($475.66m) fine to the Ogoni people of Rivers State.
Like most of Nigeria's oil-producing communities, Ogoniland...
GOVERNORS of Nigeria's 36 states have announced plans to meet with President Muhammadu Buhari to discuss the growing spate of insecurity across the country following the recent murder of 43 farmers in Borno State.
Last weekend, Boko Haram beheaded 43 rice farmers at Garin Kwashebe in Jere Local Government Area of Borno...
Ayo Akinfe
(1) In 2019, US foreign direct investment (FDI) worldwide totalled $5.96trn
(2) Within the US itself, FDI during that period totalled $246bn, with about $125bn of this coming from Japan
(3) Every industrialised nation worldwide takes FDI very seriously because it opens up new markets for their goods, creates ancillary...
CENTRAL Bank of Nigeria (CBN) officials have warned that the country could face a severe foreign exchange shortage over the coming months as shipping and airline companies are not remitting the dollars they have earned from their overseas operations.
Due to the coronavirus pandemic, the Nigerian economy has been hit hard as...
NIGERIA has secured another major victory in its quest to overturn a $10bn judgement awarded against the government for breach of contract filed against it by British company Process and Industrial Developments (P&ID).
Claiming it lost money due to the actions of the federal government, P&ID initiated moves to...
NIGERIAN businesses who fail to repatriate foreign exchange proceeds from their international business will now face heavy sanctions under new guidelines being drawn up by the Central Bank of Nigeria (CBN).
After meeting yesterday, the CBN's Bankers’ Committee said the move was part of its effort to increase foreign...
