Wednesday, March 16, 2016

[News Update] Youths: CBN Offers Millions of Naira Credit Incentive

 

Latest economic reports in the Economic Confidential, the factual, authoritative and accessible economic magazine

Monetary
CBN Offers N3m Credit Incentive to Youths
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has launched the Youth Innovative Entrepreneurship Development Programme (YIED-P), an initiative designed to unlock the ingenuity and resourcefulness of youths to drive the economy. Read: http://goo.gl/HN3WUm
 
Forex Fraud: CBN Clear Air on Suspension of Officials
The Central Bank of Nigeria (CBN) yesterday said the suspension of some of its personnel over alleged fraud was to enable it carry out unfettered investigation into the matter. Read: http://goo.gl/sOJLxs
 
CBN flags of campaign for global money week
Financial literacy will be taught as a subject at the junior and senior levels  of Nigerian secondary schools before the end of  year, Central Bank of Nigeria ( CBN) announced yesterday  as it joined the global community to  commemorate  global money week. Read: http://goo.gl/IczlMx
 
Nigeria's Inflation Increases to 11.4%
Despite the federal government's refusal to devalue the naira, the Consumer Price Index (CPI), which measures inflation, rose significantly to 11.4 per cent in February compared to 9.6 per cent the previous month, the National Bureau of Statistics (NBS) said on Tuesday. Read: http://goo.gl/6sULS5
 
GTB Declares N121b Pre-tax Profit, N52b Dividend
Guaranty Trust Bank (GTB) Plc, Nigeria's most capitalised banking stock and fourth most capitalised quoted company, yesterday announced its audited earnings report for the year ended December 31, 2015, showing growth across key top-line and profitability items. Read: http://goo.gl/ozR0lz
 
UBA Grosses N315b, Pays N22b Dividend
United Bank for Africa (UBA) Plc recorded considerable growths in the top-line and bottom-line in 2015, bucking a downtrend that had seen many banks warning of declining earnings. Read: http://goo.gl/XZ69Gr
 
Business
Nigeria to earn $224m from spectrum sale
The Federal Government is expected to rake in $224 million from the sale of 14 lots in the 2.6Gigahertz spectrum band licensing to telecommunication operating companies slated for May this year. Read: http://goo.gl/VaFhXN
 
Nigeria needs 59 million jobs in 20 years —World Bank
A new World Bank study has suggested that Nigeria needs to create an estimated 40 to 50 million additional jobs between 2010 and 2030. The study, which was released in Abuja, noted that creation of that amount of jobs is imperative to avert a nationwide market crisis, that may result in possible economic collapse.  Read: http://goo.gl/bJaV0X
 
FG budgets N50b for retirees
The Federal Government has budgeted N50 billion for retirees for this year. This is N41billion short of the N91billion requested from the Federal Government by the National Pension Commission (PenCom). Read: http://goo.gl/dcDJqn
 
Buhari Appoints Umaru Radda DG SMEDAN
President Muhammadu Buhari has ​appoint​ed Dikko Radda as director-general of Small and Medium Enterprises Development Agency of Nigeria, SMEDAN. Read: http://goo.gl/1vkBhp
 
Nigeria To Sign UN Gas Flaring 2030 Deadline Agreement
With the support of the National Assembly, Nigeria intends to sign the United Nations Agreement on Zero Routing Gas Flaring by 2030, according to Vice President, Prof. Yemi Osinbajo, SAN. Read: http://goo.gl/u7BR9O
 
Repositioning Economy Our Priority —Saraki
SENATE President, Dr Bukola Saraki, said on Monday that the repositioning of the Nigerian economy to effectively meet the challenges of the 21st century is a major priority of the eighth Senate. Read: http://goo.gl/47C1r4
 
Reps Probe N49tr Yearly Loss in Mining Sector
Why is Nigeria earning a paltry N31.449billion annually from the solid minerals sector when it could actually earn as much as N50 trillion? Read: http://goo.gl/3Lek5s
 
FG Inaugurates $1m Investment, Technology Partnership with UNIDO
In collaboration with the United Nations International Development Organisation (UNIDO), the Federal Government yesterday launched the first N300million Investment and Technology Promotion Office (ITPO) in Nigeria. Read: http://goo.gl/W6UXQJ
 
Senate Approves N108 billion to Assist IDPs
The Senate has asked its Appropriations Committee to approve N108 billion under the service wide votes for the relocation and resettlement of citizens who had been displaced by Boko Haram insurgency in the North East region. Read: http://goo.gl/dNvwI9


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