Cover Story
The Central Bank of Nigeria releases new guidelines on licensing credit bureaux to attract new operators to the sector and reduce incidence of bad loan provision
By Clement Oriloye
As the banking business spectrum expands due to the consolidation exercise that was concluded in that sector three years ago, the Central Bank of Nigeria, CBN, has seen …
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Abuse of the Naira persists despite CBN’s campaigns and a legislation against its abuse
By Gbenga Gbede
Alhaja Sikirat Adebayo sells fresh fish at the Bariga market in mainland Lagos. Penultimate Wednesday, TheNEWS observed for more than an hour as Adebayo, in the thick of swarming patronage by Christmas shoppers, collected Naira denominations from buyers, roughened them …
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Nobel Laureate, Professor Wole Soyinka, is never tired of commenting on issues of national importance. In one of such moments, he fielded questions from the Executive Editor, KUNLE AJIBADE; General Editor, ADEMOLA ADEGBAMIGBE and Staff Writer, ERNEST OMOARELOJIE, on issues ranging from the removal of the former chairman of the Economic and Financial Crimes Commission, …
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• $15 Billion capital flight recorded in recent weeks, more than a quarter of Nigeria’s external reserves.
• Big doubts over the safety of Nigeria’s reserve in troubled banks abroad.
• Federal Budget is already on the mark before the implementation. A deficit of N1.09 trillion is already on the horizon.
• Oil price that reached $147 last …
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Experts express divergent views on the devaluation of the naira and the expectations about the economy
Former University of Lagos Economics lecturer, Kayode Familoni, says devaluation as a policy may not help the Nigerian economy because of the relatively low level of non-oil revenue: “Before that policy can work, the non-oil sector must be significant, which, …
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