Recession: Nigeria FG to swell economy with $1.1bn

The Federal Government is set to inject an additional 350 billion naira (1.1 billion dollars) into the economy and raise 1 billion dollars from Eurobonds by mid-December to ease the recession. The Minister of Finance, Mrs Kemi Adeosun told journalists in Abuja that the additional funding, on top of the initial 420 billion naira released […]

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Economy Boost: CBN direct wants banks to give 60% of forex to manufacturers

The Central Bank of Nigeria (CBN), has directed commercial banks in the country to allocate 60% of their foreign exchange purchases to manufacturers, in a bid to boost the ability of the real sector operators to pay for imports so as to boost the economy. Widespread dollar shortages, caused by a fall in oil revenues, […]

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