Why coins are out of circulation – CBN

The Central Bank of Nigeria on Thursday said that the low purchasing power of the coin as opposed to other currency denominations was a major reason for its limited circulation. The acting Governor, CBN, Dr. Sarah Alade, stated this on Thursday during a school mentoring programme on financial litera... [More]

External reserves tumble by $5bn in 11 weeks

The Central Bank of Nigeria’s decision to keep defending the falling naira from the nation’s external reserves has put the reserves in free fall, tumbling by a whopping sum of $5bn in 11 weeks, according to statistics on the CBN website. The latest CBN data showed that the foreign reserv... [More]

Legal issues on the suspension of the CBN Governor

The suspension of the erstwhile Central Bank of Nigeria (‘CBN’) Governor, Sanusi Lamido Sanusi from office has attracted speckled commentaries and discussions from the media and the public at large.It has been argued that the process of his suspension represents a flagrant contempt to th... [More]

Oyo grants 100 percent tax holiday for up to seven years to foreign Companies

To attract foreign investors, Oyo State Government is ready to grant 100 percent tax holiday for up to seven years to qualified eligible industries. Apart from Federal government incentives, the state is also ready to partner investors to increase production capacity, timely issuance of relevant lan... [More]

FG sets N5tn revenue target for manufacturing sector

  • By Punch
  • 12. February 2014 01:59
  • 0
President Goodluck Jonathan on Tuesday said the Federal Government expected the manufacturing sector to earn about N5tn in revenue annually following the inauguration of the Nigeria Industrial Revolution Plan and the National Enterprise Development Programme. Jonathan, who said this during the inaug... [More]

FG Adds $550m To Sovereign Wealth Fund

The federal government has added an additional $550 million to the sovereign wealth fund managed by the Nigerian Sovereign Investment Authority (NSIA), bringing the total money managed under the fund to $1.55 billion. [More]

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