Business News

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The Governor of the Central Bank of Nigeria, Godwin Emefiele, has revealed that the country’s monetary policy rate will still have to go up. He said based on rising inflation rates, the monetary policy rate would have to rise. He was speaking on Saturday at the International Monetary Fund headquarters in Washington. He said, “Truly, […]

Reassuring Chinese GDP data helped stocks, commodity markets and the dollar consolidate strong weekly gains on Friday, as focus turned to a meeting of top oil producers about a potential output freeze. Moves in most markets were small in Europe as investors eased back after a 2.5 percent weekly rally in world shares .MIWD00000PUS, a […]

UK inflation as measured by the Consumer Prices Index rose to 0.5% in March, according to the Office for National Statistics (ONS). A sharp increase in air fares, due to the earlier timing of Easter, was the main reason behind the rise from February’s rate of 0.3%, the ONS said. Inflation is now at its […]

European stock markets dropped at open today after two explosions at Brussels airport killed at least thirteen people and injured thirty-five. The pan-European Stoxx dropped zero-point-six percent in morning trade while the Brussels benchmark plunged over one-point-two percent before paring some of its losses. The yields on the benchmark ten-year government bonds in Belgium and […]

In a bid to tighten money supply in response to the sharp increase in inflation in February, the Central Bank of Nigeria (CBN) today raised its Monetary Policy Rate (MPR) to twelve percent from eleven percent. The Bank also increased the portion of customers’ deposits that banks must keep as cash, known as the Cash […]

The naira extended its decline against the United States dollar on Wednesday, falling to 302 at the parallel market, down from 300 on Tuesday. The currency had sunk to a record low of 300 per dollar at the parallel market on Tuesday, a day after the Central Bank of Nigeria stopped dollar sales to Bureau […]

The Managing Director of the International Monetary Fund (IMF) Christine Lagarde on Wednesday met with leaders of the National Assembly and called for the removal of fuel subsidy. According to her, not only do fuel subsidies harm the planet, but they rarely help the poor, while benefitting the rich. Speaking during a meeting with some […]

Director of the International Monetary Fund, IMF, Miss Christine Lagarde, arrived Nigeria, yesterday, on a four-day official visit to engage with policy makers and other stakeholders on how her organization can partner the nation for a better economy.   While in Abuja, Lagarde will meet with President Muhammadu Buhari and other senior leaders as well […]

The Kwara State Road Traffic Maintenance Agency(KWARTMA) has explained the reason for the relocation of the dealers of second hand wears popularly known as ‘Post office Sunday-Sunday market,’the agency said the reason was to prevent accidents and traffic congestion. According to the Chief Executive Officer, KWARTMA, Mr Yekeen Babatunde Bello, while explaining the circumstances that […]

T, yesterday in Abuja said investment in the mobile telecoms industry would hit One hundred and sixty-six billion dollars and create over six-point-one million jobs by year 2020. According to him, two-point-seven million direct jobs would be created, while another three-point-four million indirect jobs would also come from the sector. Mr. Shittu, who spoke while […]


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