CBN bans importation of foreign currencies
Oct02

CBN bans importation of foreign currencies

Nigeria emerges record importer of dollar THE Central Bank of Nigeria (CBN) may have taken a definite stance to shore up the value of the naira against the persistent free fall of the currency in recent times, as it banned the importation of all foreign currencies unless by regulatory approval. The move, which is part of its determination to save the economy from external threats and dominance, may also be a strategy to stem the...

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Nigeria must diversify economy, says President
Sep04

Nigeria must diversify economy, says President

• Govt appoints liquidator for M-Tel, NITEL • Seven firms shortlisted for Kaduna Disco, three for Afam • N59.55b proceed from Egbin sale for bulk trader, BPE PRESIDENT Goodluck Jonathan Thursday admitted that the increasing exploitation and utilisation of shale gas and other alternative sources of energy by the United States (U.S.) and other advanced nations had made it more urgent for Nigeria to move faster towards the...

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