The Central Bank of Nigeria (CBN) has warned Bureau de Change (BDCs) operators against failure to make timely report on its operations to the regulator. Director of Trade and Exchange of the CBN, Batari Musa, in his message in the 2011 annual general meeting of the Association of Bureau de Change Operators of Nigeria (ABCON) held in Lagos emphasised the…
Cyril Agbele, Accountant General of Delta State has advised that the three tiers of government should be fully involved in the utilisation of the proposed Sovereign Wealth Fund (SWF). When established by law, the SWF would over-ride the Excess Crude Account into which the Federal Government currently deposits excess crude oil revenue and shares with other tiers of government as…
Nigeria and Canada are set to improve their trade and investment relations, Foreign Affairs Minister Odein Ajumogobia, has said. Mr. Ajumogobia spoke to the News Agency of Nigeria (NAN) at the weekend in Washington D.C. after a one-day visit to Canada on Wednesday.He described trade relations between both countries as ‘‘not significant'', compared with a ``very good'' political and diplomatic…
A serving senator and former governorship contender, Kola Bajomo, at the weekend declared his support for Tunji Olurin as the party's flagbearer. Mr. Bajomo also said that he was not going to decamp to the People's Party of Nigeria (PPN) as had recently been done by some Gbenga Daniel supporters. Addressing a press conference in Abeokuta yesterday, Mr. Bajomo, who…
The commander of the Special Task Force on the Jos crisis, Hassan Umaru, at the weekend, spoke to journalists about the challenges facing the task force in crisis-torn Plateau State despite the heavy deployment of security forces across the state. Mr. Umaru said that there was already improvement in surveillance and monitoring by his officers, pointing out that a more…
The Nigerian Bar Association (NBA) has no power to investigate the chief justice of Nigeria, Aloysius Kastina-Alu and the president of the Court of Appeal, Ayo Isa Salami, over allegations of corruption leveled against them, a leader of the association, Joe Kyari-Gadzama, has said. Mr. Kyari-Gadzama, who contested for the office of the legal body last year, said that the…
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Ethiopia's currency devaluation boosted exports in the past six months and helped narrow the burgeoning trade gap, Prime Minister Meles Zenawi said. The Ethiopian birr was devalued by 16.7 percent in September last year to bolster competitiveness, the fourth such move since 2009. Ethiopia's export revenue reached $1.11 billion during the first half of this year, while first-quarter revenue rose…
Egypt will reopen its stock exchange before March 28 so the bourse is not removed from global indices, the finance minister was quoted as saying on the prime minister's Facebook page on Saturday. Samir Radwan said one of the reasons for the continued closure of the stock exchange was that the situation in Egypt had not "not reached the improvement…
The U.N. Security Council may consider a proposal to set up an escrow account for Cote d' Ivoirecocoa revenues to keep them out of incumbent leader Laurent Gbagbo's hands, U.N. diplomats told Reuters. Amid fears of a new civil war in Ivory Coast, Gbagbo rejected an African Union proposal at a summit on Thursday offering him a safe exit in…