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Day: February 17, 2017

Review your FOREX policy now: NEC tells CBN

Amaka Obiefuna. The National Economic Council (NEC) on Thursday urged the Central Bank of Nigeria (CBN) to immediately review the exchange policy. The Deputy Governor of Nasarawa, Mr Silas Agara, disclosed this at the end of the council’s meeting at the Presidential Villa, Abuja. He said that the decision followed the presentation by the CBN […]

BON demands collaboration over digital switch over

Winifred Bosa. Stakeholders in the broadcast industry have appeal for closer collaboration between the broadcast media organisations and signal distributors for the successful digital switch over in the country. The Chairman Broadcasting Organisation of Nigeria, Mr. John Momoh made the appeal in Abuja, at a one day public hearing on the process of Digital Switch […]

CBN directs banks to file FOREX returns in dollars

Amaka Obiefuna. The Central Bank of Nigeria (CBN) has directed banks to file their returns on the sale of foreign currency in dollars to avoid ambiguities. The Acting Director of Communications in CBN, Mr Isaac Okorafor, announced the new directive in a statement on Thursday in Abuja. He said that the new directive was to […]

PWC report shows FOREX risk affected investment in 2016

Amaka Obiefuna.         PriceWaterHouseCoopers  (Pwc) says that the continued lack of clarity around foreign exchange risk discouraged foreign investment into Nigeria in 2016. Pwc in its 2016 Africa Capital Market Watch report released on its website on Thursday said that investments to Nigeria declined due to disconnect between official and parallel rates for the Naira. The pwc […]

NAF helicopter attack : several BHTs killed

Winifred Bosa. A Nigerian Air Force (NAF) helicopter conveying personnel on medical outreach programme at Gwoza came under attack early today by members of the Boko Haram Terrorist (BHT) group. Air Force spokesman, Group Captain, Ayodele Famuyiwa, in a statement said the Mi-17 helicopter was shot at severally by the insurgents. However, there was no […]

Gov. Ambode plans 24 hour electricity for Lagos

Fidelia Okafor. The Lagos State government has restated its resolve to achieve sufficient energy generation. The Governor, Akinwunmi Ambode said that the quest by Nigeria to achieve energy security could no longer be left for government alone. He revealed plans by the state to attain 24-hour power supply through generation of 3000 megawatts of electricity […]

Sheriff: PDP leaders against me because they can’t control me

Fidelia Okafor. Factional National Chairman of the Peoples Democratic Party, PDP, Sen Ali Modu Sheriff, has shed light on why some chieftains of the party are opposed to his leadership role. Speaking during a stakeholders meeting in Agbor, Ika South Local Government Area of Delta State, the former Borno State Governor disclosed that he was […]

Court orders forfeiture of Diezani’s billions to Nigeria

Fidelia Okafor. A Federal High Court Lagos on Thursday ordered the final forfeiture of the sum of N34 billion (153 million dollars) linked to a former Minister of Petroleum Resources, Mrs Diezani Allison-Madueke. Justice Muslim Hassan issued the order while delivering judgment in a suit by the Economic and Financial Crimes Commission (EFCC) seeking the […]