After several months of grappling with the dwindling fortunes of the naira, the Central Bank of Nigeria (CBN) finally liberalised the foreign exchange (FX) market by the re-introduction of the flexible exchange rate inter-bank market. The move, which the CBN Governor stressed, is in line with the bank’s objectives of; ...

The recent decision by the US Federal Reserve Bank (Fed) to hike interest rate for the first time in almost a decade is triggering serious concerns around the world and poised to further pressure the Central Bank of Nigeria (CBN) to devalue the Naira. The move is expected to lead ...

After four months of intense engagement by stake holders, the Central Bank of Nigeria (CBN) eventually yielded to sound reasoning and released a circular, allowing importers of the restricted 41 items, that have letters of credit opened prior to the policy change, access to the foreign exchange market. The CBN had ...

“Without doubt, therefore, the future of manufacturing will remain bleak in the near future in the present circumstances” Dr. Frank Udemba Jacobs (MON), President MAN With the foreign exchange market fraught with uncertainty in recent months, it has been a tale of agony for Nigeria’s beleaguered manufacturers, who are unable ...

The last week of July 2015 was noteworthy in Nigeria for the curious rebound of the Naira against the Dollar. In a strange chain of events, since the removal of some items from the foreign exchange market sparked off an alarming slide of the Naira in the parallel market, the ...

The maniacal destructive force ravaging Nigeria has refused to give in to the incessant barrage by the security forces in the past few months. With the fall of their strongholds in the North East Zone, the dreaded Boko Haram sect seems to have resorted to guerrilla warfare in a clear change ...

The Nigerian political scene is one you can never rightly predict… a real theatre of intrigues. It is as complex as the Country is diverse and always serves a healthy dose of suspense. The events leading to the dramatic National Assembly elections that threw up Senator Bukola Saraki and Hon. Yakubu ...

The non-existence of alternative means of transportation of goods within the country is fast turning Nigeria into a thriving market for heavy duty trucks. Movement of locally manufactured products from the industrial cities to the hinterland, imported goods from the ports to the cities, agricultural products from the farms to the densely ...

“For Brutus is an honourable man; So are they all, all honourable men…” – William Shakespeare The above quote, culled from Mark Antony’s speech at Caesar’s funeral in the tragic play; Julius Caesar, aptly captures my thoughts on Easter Monday when I read quotes attributed to the Oba of Lagos. The distasteful words caught ...

The 2015 Presidential elections in Nigeria will go down as one of the fiercest Presidential contests in Nigeria’s chequered history. A straight contest between the incumbent President Goodluck Jonathan of the Peoples Democratic Party (PDP) and General Muhammadu Buhari of the All Progressive Congress (APC), the plots leading to the election ...