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Nigeria’s central bank decision to unified foreign exchange (FX) rates is expected to unlock a $1.5 billion loan from the International Monetary Fund (IMF) which required the convergence of the monetary policy authority’s multi-tiered exchange rates as a pre-condition for disbursement. Move to unified rates comes
Having sponsored no fewer than 900,000 smallholder farmers in rice production across the federation to benefit from CBN’S intervention fund under the Anchor Borrowers Programme, Unity Bank Plc has partnered the launching of Ekiti Rice Pyramid Project in South West Nigeria held recently. The launch is a follow-up to the unveiling of Rice Pyramid earlier in the year at Kebbi State, for the North West and Gombe State in the North East. Over 278 metric tonnes of rice paddy were on display at the event attended by several stakeholders in the rice production value chain including the Ekiti State ...
Views: Visits 35 The Governor of the Central Bank of Nigeria, Godwin Emefiele, says Nigeria is expecting 12 fighter jets from America to fight insecurity. Emefiele, who disclosed this in Abuja lamented how insecurity is crippling the economy, added that the arrival of the jets is in line with a pact made between the Nigerian government and the US government three years ago, Punch is reporting. He said, “If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer. “Efforts are no...
Advertisement Now in its fifth year, the ABP is the CBN intervention programme for farmers aimed at boosting food production in the country. In March 2021, the apex bank said While answering questions at the end of a two-day monetary policy committee meeting in Abuja, Emefiele said there is interconnectivity between security and economy. Advertisement “If you want an economy to grow, the level of insecurity must be low because if there is a high level of insecurity like what we see today, the economy will suffer,” Emefiele said. He said security institutions are doing their best to tack...
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has urged bandits and those living in the bushes to drop their arms and embrace the apex bank’s Anchor Borrowers’ Programme. He made this remark when responding to questions at the Monetary Policy Committee Meeting held on Tuesday, May 25 th 2021. In perhaps an off the cuff remark, in addressing the role of insecurity in driving economic growth, Godwin Emefiele explained that while the apex bank was doing all it could to stimulate growth, insecurity remained a challenge, and thus chided bandits to drop arms and partake in the go...