The monetary policy committee of the Central Bank of Nigeria (CBN) on Tuesday voted to retain the monetary policy rate at 11.5 percent. The committee also retained the liquidity ratio…
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Category: Business
CBN devalues Naira, adopts Nafex rate
The Central Bank of Nigeria has officially adopted the Nafex rate as the government’s official exchange rate for the naira, effectively devaluing the currency by 7.6 per cent. The bank…
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Nigeria’s economy records 0.51% growth in Q1 2021
By our reporter| Nigeria’s Gross Domestic Product (GDP) in quarter 1 of 2021, recorded a growth of 0.51 per cent (year-on-year) in real terms. The National Bureau of Statistics (NBS)…
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No plan to increase pump price of fuel in June, says FG
Ebun Francis| The Federal Government is not in a hurry to increase the pump price of petrol, Timipre Sylva, Minister of State for Petroleum Resources, has said. Sylva said this…
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NCC directs mobile subscribers to submit phone ID from July
By our reporter| The Nigerian Communications Commission (NCC) on Friday said mobile subscribers must submit the international mobile equipment identity (IMEI) of their phones from July. The IMEI is an…
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