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Month: May 2017

Central bank lifts Naira with $482.6m

In the first trading day after the Democracy Day celebrations, the Central Bank of Nigeria (CBN) has intervened in the inter-bank market to the tune of $482.6 million, underlining its determination to guard the international value of the naira. A breakdown of Tuesday’s interventions indicates that the Retail SMIS was allocated the sum of $285,779,350, […]

Artisans benefit from government’s empowerment programmes

No fewer than 90 artisans in Mpape, FCT, have benefited from the Federal Government National-Social Investment Programme (N-SIP) under the Government Enterprise and Empowerment Programme (GEEP). GEEP was designed to provide small scale enterprises access and financial services over a period of six months. The Chairman of Mpape Artisans Association, Mr Obafemi Obalanlege, said in […]

Schools to teach maths, science subjects in indigenous languages

The Federal Government says primary and secondary schools in the country will soon start teaching Mathematics and Science subjects in indigenous languages. The Minister of Science and Technology, Dr Ogbonnaya Onu said this at the inauguration of inter-ministerial committee in teaching Mathematics and Science subjects in local languages in Abuja on Wednesday. The inter-ministerial committee involved […]

NIMASA cadets to get adequate sea time training

The Nigerian Maritime Administration and Safety Agency (NIMASA) says it is committed to ensuring that all beneficiaries of the Nigerian Seafarers Development Programme (NSDP) get adequate sea time training. Director General of the Agency, Dr. Dakuku Peterside, made this known at the second edition of the maritime students conference which took place in Lagos. Dr Peterside […]

Acting President receives web portal on school feeding

Nigeria’s Acting President, Professor Yemi Osinbajo has received a web portal developed for the effective implementation of the home-grown school feeding component of the Social Investment Programme, SIP. The portal, developed and funded by the First City Monument Bank, FCMB, is also to ensure the visibility and accountability in the school-feeding programme. Professor Osinbajo said […]

Dangote to spend $1bn on rice cultivation

The Dangote Group has announced that it is investing $1bn in rice cultivation in five states to boost food self-sufficiency. A director of Dangote Group, Tunde Mabogunje, stated this at the Gateway Trade Fair in Ogun state. “We are investing about $1 billion in rice cultivation. We have an outgrowers scheme where thousands of farmers are […]

ATM transactions dominate banking activities for Q1

Figures released by the National Bureau of Statistics (NBS) showed that ATM transactions dominated the volume of banking transactions with 179, 000, 000 volume of ATM transactions valued at N1.50trn recorded in the first quarter (Q1) of 2017. ATM transactions also ranked third by value, with N13.13trn recorded in the Q1. NIBSS Instant Payment Option […]

Cocoa production in Ghana hits 3-year high

Ghana has recorded its biggest cocoa harvest in three years, as better weather conditions boosted output in the world’s second-biggest grower. Cocoa harvests reached 812,153 metric tons by May 25, compared with a combined 778,043 tons for the whole of the 2015-16 season, when severe desert winds damaged crops and affected rainfall. Cocoa output in […]

Kano gets $200m Islamic bank grant

Kano state government, North west Nigeria has been given a grant of $200 million by the Islamic Development Bank (IDB) to boost irrigation. The state governor, Dr Abdullahi Umar Ganduje stated this while addressing party supporters and top government functionaries, at the Coronation Hall, at the government house, Kano to mark his second year in […]

Lagos generated more IGR than 30 States combined in 2016 [See index]

Economic Intelligence Magazine, Economic Confidential,​ ​has released its Annual States Viability Index (ASVI) which shows that fourteen States are insolvent as their Internally Generated Revenues (IGR) in 2016 were far below 10% of their Federation Account Allocations (FAA) in the same year. The index​ proved that without the monthly disbursement from the Federation Account Allocation […]

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