Business

THE Wivesroundtable Foundation has announced the relaunch of its Digital Academy for Female Entrepreneurs (D.A.F.E) program, designed to improve the livelihoods of female entrepreneurs in Lagos state. This phase of the program is supported by a $10,000 grant from The Coca-Cola Foundation (TCCF). The initiative, which seeks to economically transform …

The Central Bank of Nigeria, CBN, said it had released N114.17 billion to beneficiaries under its 100-for-100 Policy on Production and Productivity since its commencement in January last year. It was disclosed in a communiqué issued by the Governor of CBN, Godwin Emefiele, after the last Monetary Policy Committee, MPC, …

Figures obtained from the Central Bank of Nigeria, CBN, shows the nation’s external reserves dropped by $317 million in February. Its latest data on the movement of external reserves indicated that the figure, which stood at $36.99 billion as of January 31, 2023, fell to $36.67 billion as of February …

The federal government has disclosed that 1.9 million vulnerable, poor Nigerians received stipends of N5,000 each, totalling 111.6 billion yearly through the Implementation of the National Social Investment Programme, NSIP. Haija Sadiya Farouq, The Minister of Humanitarian Affairs, Disaster Management and Social Development, disclosed this on Thursday in a One-day …

The International Monetary Fund, IMF, has disclosed that only 24 per cent of loans disbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria have been repaid. This was disclosed in the IMF’s Selected Issues paper on Nigeria, published in January, prepared by a staff team of the …

The country’s currency-in-circulation dropped from N3.29tn as of the end of October 2022 to N1.38tn as of the end of January 2023 due to the naira redesign policy of the Central Bank of Nigeria. Recent figures obtained from the CBN showed a drop of N1.91tn in the three months. In October, when …

The Nigerian Economic Summit Group, NESG, says Nigeria’s weak manufacturing sector is a significant factor fuelling the shortage of foreign exchange. The NESG Senior Economist, Dr Wilson Erumebor, disclosed this in a recent paper published by Foresight Africa recently. In the report titled “Nigeria in 2023: Bridging the productivity gap …

The National Bureau of Statistics, NBS, sats the average price of 5kg of cooking gas jumped from N4,565.56 recorded in December 2022 to N4,588.75 in January 2023. Newsextra24 reports that the surge is contained in NBS’s “Cooking Gas Price Watch” for January 2023, released on Friday in Abuja. The latest …

Nigeria’s Gross Domestic Product, GDP, growth fell to 3.10 per cent in 2022 from 3.40 per cent in 2021, according to new GDP results from the National Bureau of Statistics, NBS. It stated that growth in the economy’s agriculture and industry sectors dropped in 2022, while the performance of the …

An official of Access Bank has disclosed that the bank on Monday started receiving the old N500 and N1000 notes from customers who have filled out the Central Bank of Nigeria form for a cash swap. The Head Media Relations Unit, Access Bank Plc, Abdul Imoyo, disclosed this us. Giving …