In its committed efforts to diversify the country’s economy away from oil, in line with the federal government’s economic plan, the Central Bank of Nigeria (CBN) has announced a revamp of the N500 billion Export Stimulation Fund for the promotion of non-oil exports in the country using the Anchor Borrowers’ Programme model.
President Muhammadu Buhari (PMB) should be commended for directing the Minister of Finance, Mrs. Kemi Adeosun and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to immediately release the second tranche of the London-Paris Club refunds to states in order to ease their financial hardships and this has shown that Mr. President is listening to the calls of Nigerians to alleviate their sufferings.
The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), has said there are corruption allegations in the Central Bank of Nigeria’s foreign exchange allocation and transactions.
Federation Account allocations to the 36 states in the country have fallen by an average of N2bn per state every month, following the crash in global oil prices and the consequent economic challenges, the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has said.
The federal government has pledged to provide mechanised equipments to farmers in Anambra state in the near future.
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele on Saturday said that no amount of intimidation will make him stop performing his duties effectively to Nigerians.
The Minister of Finance, Mrs. Kemi Adeosun, has said that she cannot predict when the nation will get out of the current economic recession.
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday retained the Monetary Policy Rate, which is the benchmark lending rate, at the current 14 per cent.
Amidst controversies over appropriate pump price for petrol, reports of the National Bureau of Statistics, NBS, has indicated that petrol marketers in16 states of the country are selling the product significantly higher than the N145 maximum price stipulated by the federal government.