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How To Manage The Rising Inflation – Kunle

As the factors that drive inflation prevail and the consumer price index continued to maintain its upward streak, Kunle Aderinokun looks at the policy measures of the monetary authority in managing the rising inflation. The National Bureau of Statistics last weekend put the figures for the consumer price index, which measures inflation, in September at 17.9 […]

Travelex Now Sells Dollars At Murtala Muhammad International Airport

Travelex Now Sells Dollars At  Murtala Muhammad International Airport

BUYING DOLLARS FROM TRAVELEX AT MURTALA MUHAMMAD INTERNATIONAL AIRPORT (23/10/2016) Travelex now sells dollars to travellers at the MMIA. The process is the same as buying the Business Travel Allowance (BTA) or Personal Travel Allowance (PTA) from a bank. The dollars you purchase from Travelex are slightly higher than the official / CBN rate but lower than […]

Dollar Demand Overwhelms Travelex, Scarcity Persists

Dollar Demand Overwhelms Travelex, Scarcity Persists

The inability of Travelex, the sole dollar distributor appointed by the Central Bank of Nigeria (CBN), to meet the increasing dollar demand from bureaux de change (BDCs) has caused persistent dollar scarcity. The three-week-old pilot scheme which allows Travelex to solely sell dollars to BDCs seems to be faltering, it was learnt yesterday. Travelex, a global […]

Kadunna: Ex-gov Yero Spent N4.1bn On Sweets, Juice And Training in 2014 –Commissioner

Kadunna: Ex-gov Yero Spent N4.1bn On Sweets, Juice And Training in 2014 –Commissioner

Mohammed Abdullahi, the Commissioner for Budget and Planning, Kaduna State, said the immediate past government of Mukhtar Yero spent over N2.1bn on sweets, juice and chocolates to entertain visitors in 2014 alone. He added that the ex-governor’s administration wasted another N2bn on training and retraining of workers who did not need such training. For instance, […]

Recession: Dangote Fires 48 Staff Members

Recession: Dangote Fires 48 Staff Members

The Dangote Group which is one of the biggest employers of labour in Nigeria outside of the government has been hit by the current recession rocking the Nigerian economy. This is a proven fact as the group belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. A report shows that those sacked were […]

Ibadan: Customers Express Fear As Beggars Invade ATM Cash Points

“It is pathetic that the managements of banks would allow their customers to be embarrassed by beggars. Customers in some banks in Ibadan, Oyo State, have expressed fear over the invasion of the Automated Teller Machines in the areas by beggars. Report shows that in Dugbe, a business district where several banks are located, beggars waited […]

ABUAD Gets $40m Loan From AFDB

ABUAD Gets $40m Loan From AFDB

A loan facility of $40m has been approved by the African Development Bank for the Afe Babalola University, Ado Ekiti, to finance its expansion plan. The bank said in a statement on its website that its board of directors approved the loan for ABUAD on October 19, 2016, adding that it was its first private-sector transaction in […]

Kaduna State Govt. Budgets N2.55bn For Drones, CCTV

Kaduna State Govt. Budgets N2.55bn For Drones, CCTV

In the bid to to provide adequate security cover in Kadunna State, in 2017, the State Government has earmarked over N2.55bn to procure CCTV cameras and drones. More than N1.5 billion of the amount was earmarked for the procurement and installation of CCTV cameras in strategic areas of the state, to reduce crime. The figure is […]

FRCN Says CBN’s Responsible For MTN’s $13.9bn Illegal Transfer

FRCN Says CBN’s Responsible For MTN’s $13.9bn Illegal Transfer

The Senate on Thursday began its investigative hearing on the alleged transfer of $13.9bn by MTN Nigeria out of the country illegally. The Financial Reporting Council of Nigeria, in its presentation, blamed the regulator, the Central Bank of Nigeria, for any irregularities in the matter. The Executive Secretary, FRCN, Mr. Jim Obaze, blamed the CBN […]

Kaduna State Govt To Spend N4bn On Light Rail Project

The Kaduna State Government has earmarked over N4bn for the Kaduna Metropolitan Rapid Rail Transport project planned for 2017. The amount is part of the N24.06bn provided for projects under the State Ministry of Works, Housing and Transport in the 2017 budget. Governor Nasiru El-Rufa’i had on Wednesday, October 12, presented an appropriation bill of […]

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