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25.5.16

At Last, Central Bank to Introduce Flexible Exchange Rate Regime

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Warns economy faces imminent recession, no quick fix to forex scarcity
Leaves interest rate unchanged at 12%
Blames economic woes on delayed passage of budget
Analysts caution against inherent abuses in forex window for ‘critical transactions’

 

After months of resisting calls for the adoption of a flexible foreign exchange regime, the Central Bank of Nigeria (CBN) on tuesday finally bowed to pressure, stating that it would introduce greater flexibility in the interbank foreign exchange market structure and retain a small window for critical transactions for prospective investors.

Govt raises peace panel on Niger Delta

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Govt raises peace panel on Niger Delta
The federal government has adopted a carrot and stick approach to the renewed militancy in the Niger Delta where some pipelines and oil platforms have been blown up.
The government yesterday inaugurated a Technical Committee on Peace and Stability in the Niger/Delta.
Chief of Arny Staff Lt.-Gen Tukur Buratai has reechoed the position of Chief of Defence Staff Gen. Abayomi Olonisakin, that the Niger Delta Avengers are criminals who should so be treated.

This Beautiful Lady Claims She Has The Se.xiest Hips In Nigeria .......See Her Photos

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This Beautiful Lady Claims She Has The Se.xiest Hips In Nigeria .......See Her Photos

The Ever Present Naira Rain

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The Ever Present Naira Rain
Every other weekend thousands of naira notes are ‘sprayed’ at social events and parties, especially weddings. This is one aspect of Nigerian culture that has refused to wane despite the current economic climate, writes Chineme Okafor

Senate Asks FG to Recover N42bn Waivers Granted Dangote, Bua, Others

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Senate Asks FG to Recover N42bn Waivers Granted Dangote, Bua, Others
The Senate on Tuesday asked the federal government to recover N42 billion grants as import duty waivers to six companies including Dangote Limited and BUA Sugar Refinery between 2013 and 2015.
The upper chamber also asked the federal government to compel Olam International Limited, Popular Foods, a subsidiary of Stallion Group, and Milan Group to pay the import duty demand notice of N24 billion served on them by the Nigeria Customs Service (NCS) for exceeding the quota granted to them on rice importation during the period.

Months after surviving brutal physical attack, Actor, Harry Anyanwu returns to Nollywood (Photos)

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Months after surviving brutal physical attack, Actor, Harry Anyanwu returns to Nollywood (Photos)
Actor, Harry Anyanwu, who was brutally attacked by some unidentified young men sometime in December last year in Enugu State, has made gradual recovery.

Bayelsa workers suspend strike, accept 50% salaries

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•Gov Seriake Dickson of BayelsaYenagoa—The organised labour in Bayelsa State, has suspended its three days old strike over unpaid salaries and pension arrears.  •Gov Seriake Dickson of Bayelsa Accordingly, the state secretariat, which houses the office of the Secretary to the State Government and the bulk of the ministries, came alive, yesterday, as the hitherto deserted complex recorded a large turnout of workers.
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