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Punch Equities lose N234bn in one day…Nigeria faces exclusion from MSCI:Amid speculations of a possible exclusion from the Morgan Stanley Capital International Frontier Markets Index, Nigerian equities raced southwards on Monday. ICT accounts for 10% of Nigeria’s revenue –DonAn academic at the Lagos Business School, Dr. Doyin Salami, has said that in 2016 alone, “Information […]Read More

State PMS average prices  for March Borno  87 Lagos  90.08 Abuja  104.9 Osun  109.78 Oyo  111.22 Ogun  114.98 Niger  121.56 Plateau  123.5 Kano  124.27 Ondo  124.5 Ekiti  127.5 Edo  129.7 Benue  131.71 Delta  132.09 Adamawa  133.5 Rivers  133.7 Kwara  134.29 Anambra  136.47 Kaduna  139.75 Kebbi  139.75 Jigawa  143.08 Zamfara  143.17 Imo  143.96 Enugu  144.58 Yobe  […]Read More

When you are a Central Bank Governor and you fail in all your major mandates (inflation, growth and currency management) it means you have lost credibility and probably not fit to be at the helms. Nigeria’s CBN and its merry gang of monetary policy committee (MPC) members or academicians as we call them have managed […]

The Comptroller-General of Customs (CGC), Colonel Hameed Ali (rtd) has revealed that the service recorded a drop in its revenue to the tune of N230 billion in the last quarter of 2015 because of the Central Bank of Nigeria (CBN)’s policy banning some items from accessing the dollar. Alli said during his working visit to […]

The Chief Executive Officer of the Stanbic IBTC Holdings PLC, Sola David-Borha has stated that the bank will co-operate with state governments to achieve their transformation agendas to further develop the nation. David-Borha, in a goodwill message she delivered at the inaugural annual Kaduna State Economic and Investment Summit, co-sponsored by Stanbic IBTC in Kaduna […]

Dangote Group is investing about $20 billion into gas pipeline infrastructure, power generation, petrochemical, fertilizer, sugar refinery and petroleum refinery to help combat national issues like unemployment,infrastructural deficit security, the Guardian reports. The Group had earlier announced that it will spend one billion dollar for the construction of a six million metric tonnes per annum […]

Google Inc. is scaling up its digital skills training programs to accommodate a million Africans in the next year, including about 400,000 Nigerians, the Tech giant said in a statement today. Google is aiming to deal with high unemployment numbers on the continent. The U.S. tech giant plans to train 400,000 Nigerians, 300,000 people in […]

The International Monetary Fund (IMF) has cut its world expansion forecast, as weak exports and slowing investment dim prospects in the U.S., a consumption-tax hike saps growth in Japan, and a slump in the price of everything from oil to wheat continues to hobble commodities producers. A prolonged period of slow growth has left the […]

Dangote Group, the company owned by Africa’s richest man Aliko Dangote, signed a deal on Tuesday for a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, he told Reuters. “The interest rate is okay, quite favorable with me,” Dangote said, without elaborating. “It’s for my two cement companies […]Read More

The CBN Monetary Policy Rate (MPR) is determined by the CBN Monetary Policy Committee periodically. The rate is is the official benchmark rate of the CBN and the rate at which it lends money to commercial banks. Below is the MPR from 2006 till date. Monetary Policy Rate The post above and its ensuing comments, […]

Press release I have carefully followed the news items making the rounds in relation to the budget presented to the National Assembly and what was defended by the Ministry of Transport before the Senate Committee on Land Transport which I have the privilege of chairing. The focal points of controversy seem to be the Lagos […]

President Muhammadu Buhari on his way to China The Nigerian Senate and the Presidency are now engaged in an open war, and the Senate warned on Monday that it seems “some people have not come to terms with democracy”. It did not in the reference mentioned President Muhammadu Buhari, a former military dictator turned democrat, […]