Nigeria And China Currency Swap Deal Explained:
Imagine you are China. You sell a lot of stuff to the world. In fact, your whole economy is based on selling things to the world. You have an incentive to make trade as smooth as possible with other countries especially when it comes to making payments.
China Lends Dangote $2bn, Reach Agreement With Nigeria On Yuan:
Dangote Group, the company owned by Africa’s richest man Aliko Dangote, signed a deal on Tuesday for a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, he told Reuters.
China’s $6 Billion Infrastructure Loan To Nigeria Has A Condition:
China is said to have offered Nigeria a loan worth $6 billion to help fund infrastructure projects. President Buhari is currently on a visit to China in part to help solicit funding for its N6 trillion budget which it needs to finance with foreign debts of about N900b ($4.5b using exchange rate of N200/$1).
Air Buhari: List Of Countries Buhari Has Visited (Updated April 9, 2016):
Below are the list of countries President Buhari has visited since he became President in May 29, 2015. The list will be updated from time to time.
Blame Electricity Workers, Not Buhari For Poor Power Supply In The Country – Fashola:
Minister of Power, Works and Housing, Babatunde Fashola, this week, appealed to Nigerians not to forward the blame of the current poor power situation all over the country on President Muhammadu Buhari, but rather put the blame on electricity workers.
Boko Haram Goes Into Microfinance:
Nigerian based Terror group Boko Haram is said to have gone into a form of microfinance by providing or promising capital and loans to young entrepreneurs and business owners in northeast Nigeria as a ploy to get them to join the group.
Wema Banks Looks Serious About Acquiring A “Rival Bank”:
Reuters is reporting that Wema Bank is planning go acquire or merge with a “rival bank”. The bank is said to have plans to seek shareholders approval for an acquisition suggesting that a move might be imminent.
Inflation: Emefiele Sets Nigeria On The Path To Zimbabwe:
When you are a Central Bank Governor and you fail in all your major mandates (inflation, growth and currency management) it means you have lost credibility and probably not fit to be at the helms.
See How Many Business Jets Nigerians Own At The End Of 2015 – Aviation Expert:
Managing Director, EAN Aviation, Olusegun Demuren has revealed that the Nigerian aviation industry contributed $685 million to the country’s Gross Domestic Product, GDP, in 2015.
CBN Invests N26 Billion In Sunti Sugar Factory:
Governor of the Central Bank of Nigeria,(CBN) Godwin Emefiele, has given assurances to genuine investors of the apex bank’s support in achieving self-sufficiency in local production and pursuance in economic diversification.