Economy Archives - Page 22 of 71

Oct

04

2024

CBN Unveils New Foreign Exchange Code to Stabilize Naira

Business, Economy, NewsBusiness, CBN, Economy, Naira

The Central Bank of Nigeria (CBN) has introduced a fresh Foreign Exchange Code to guide participants in the country's FX market, aiming to stabilize the Naira. This move is part of efforts to regulate Nigeria's financial system and supervise the foreign exchange market in line with global best practices. The new FX Code is built around six core principles: Ethics: Promoting transparency and accountability Governance: Ensuring effective oversight and management Execution: Facilitating efficient and timely transactions Risk Management and Compliance: Minimizing risks and ensuring adherence to regulations Information Sharing: Encouraging open communication among market participants Confirmation and Settlement Processes: Streamlining…

Sep

24

2024

By Amos Oge Kalu

Senator Orji Uzor Kalu: A Beacon of Hope in Nigeria’s Economic Hardship

Abia State, Amos Oge Kalu, Economy, News, Opinion, PoliticsEconomy, Orji Uzor Kalu, Politics

In these trying times, Nigeria needs leaders who lead by example, and Senator Orji Uzor Kalu is doing just that through some painful decisions and magnanimous actions geared toward solidarity with many Nigerians at the moment. In that light, the revered senator representing Abia North Senatorial Zone has been praised by Chief Chidiebere J. Okoh, an APC Chieftain in Abia State, for his exemplary leadership and commitment to cutting down expenses during Nigeria's economic hardship. Leading by Example Recently, while dispelling rumors of his death in the US, Dr. Kalu acknowledged the difficulties Nigerians are facing and urged them to…

Sep

14

2024

By Amos Oge Kalu

Gov. Alex Otti Urges Traders To Relocate To Abia State, Assures Them Of Adequate Security, Business Friendly Atmosphere

Abia State, Business, Economy, MetroAbia State, Alex Otti, Business, Economy, Metro

Governor Alex Chioma Otti OFR has assured leaders and traders of Alaba International Markets, Oyinbo, Ladipo, and United Market Leaders and Traders Association of Nigeria of adequate security measures, a business-friendly atmosphere, and a conducive environment to invest and do business in Abia State. Through his Special Adviser on Trade, Commerce, and Industry, Chief Nwaka Inem, Governor Otti expressed his administration's readiness to create physical infrastructural development and facilities that will serve as a one-stop business hub for investors and traders. https://youtu.be/CqbjrbWDyEQ?si=yEE1qoPXkIG0kYR0 Chief Inem emphasized the state government's commitment to providing a conducive environment for businesses, highlighting initiatives such as…

Sep

07

2024

By Amos Oge Kalu

Beyond the barrel: The tourism imperative (1) – By abiodun KOMOLAFE

Business, Column, Economy, Lifestyle, Metro, News, OpinionAbiodun KOMOLAFE, Business, Economy, Nigeria, Opinion

Nigeria is at the moment in a precarious position, teetering like a heavy toddler due to the instability of its monocrop economy. The country’s heavy dependence on crude (not even refined) petroleum exports exposes a cumulative effect of defective political economies and the complacency of the ruling elite “who have been trained as to how not to think”. It also reminds one of the stage-like observations of Robert Nester Marley, that “in the midst of water, the fool goes thirsty”. Nigeria's reliance on oil can be diversified, but the elite's mindset stands in the way. A notable example is Mexico's…

Sep

04

2024

By Amos Oge Kalu

Bill Gates, Dangote, Others Attend National Economic Council Meeting at Aso Rock

Business, Economy, News, PoliticsBusiness, Economy

Aliko Dangote, Chairman of the Dangote Group, and Bill Gates, Co-Chair of the Bill and Melinda Gates Foundation, are attending the National Economic Council (NEC) meeting at the Presidential Villa in Abuja. The meeting, chaired by Vice President Kashim Shettima, is taking place in the Council Chambers. Their presence is likely linked to their foundations' efforts to eradicate wild poliovirus in Nigeria. The meeting comes amid widespread concern over the recent fuel price hike, which has sparked national outrage. In addition to Dangote and Gates, several state governors are in attendance, including Babagana Zulum (Borno), Bala Mohammed (Bauchi), Abdullahi Sule…