FG Set to Again Revise Oil Benchmark Price to $20  over COVID-19
… as It Says Economy Will Contract by 3.4 % Due  to  the adverse implications of the COVID-19  pandemic on the economy, Nigeria’s Budget plan is to be  cut by the Federal Government  , the second time running ,to assume a lower petroleum price of $20 per barrel ,even... Read more
COVID- 19:  CBN Stops Banks from Sacking Workers
Sequel to the decision of some banks to sack their workers due to the loss they are sustaining as a result of  the outbreak of  the COVID-19 Pandemic , the  Central Bank of Nigeria (CBN) has however  stopped them  from implementing the plan. The apex bank said in a... Read more
CBN Scraps, Reduces Banks Charges
The Central Bank of Nigeria(CBN) has scrapped the controversial Card Maintenance Fee(CAMF) as well as slashed the Automated Teller Machine(ATM) charge as part of the the Apex Bank’s new  guidelines which takes effect from January 1, 2020. Banks that fail to comply with the guidelines are to be sanctioned,... Read more
Reason IMF Is Backing Nigeria on  Border Closure
Ahmed , Finance Minister   The International Monetary Fund has expressed its support for Nigeria on the closure of its land borders because it understands that the action is not punitive. The Minister of Finance, Mrs. Zainab Ahmed, who said this in Washington on Sunday explained that the measure... Read more
Full Text of President Buhari’s 2020 Budget Speech
PROTOCOLS   I will start by asking you to pardon my voice. As you can hear, I have a cold as a result of working hard to meet your deadline!   I am delighted to present the 2020 Federal Budget Proposals to this Joint Session of the National Assembly,... Read more
Buhari Presents 2020 Budget Proposal  to National Assembly Today
The Presidency says the 2020 Appropriation Bill is to be presented to a joint session of the National Assembly (NASS) today,  by President Muhammadu Buhari , Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, confirmed this development at the end of an extraordinary meeting... Read more
FAAC: FG, States, LGs Share N769.52bn for July
A total sum of   N769.52 billion, was shared   as federal allocation for the month of July, by the Federal Government, States and Local Governments (LGs).   Mr Ahmed Idris, the Accountant-General of the Federation (AGF), said this on Thursday in Abuja, while addressing newsmen at the end of the... Read more
CBN Gov Says More Items Are to Be Blocked from FOREX
Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has said that importers of more items are to be denied access to foreign exchange (forex) from government institutions and banking industry. According to him, the apex bank will not go back on President Muhammadu Buhari’s directive to block food importers... Read more
CBN Threatens to Close  Bank Accounts of Firms Importing Forex Restricted Goods
The Central Bank of Nigeria (CBN), has threatened  to  close the bank accounts  of any banks found smuggling into the country, goods for which access to foreign exchange, has been restricted.   The apex bank curbed access to dollars in 2015 for firms importing 42 items, ranging from rice... Read more
CBN Reduces Interest Rate to 13.5 percent
 For the first time in over two years, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN)  has reduced  interest rate downwards to 13.5%   Central Bank Governor Godwin Emefiele disclosed to journalists at the end  of the second 2019  MOC meeting   that “the MPC voted... Read more