Category: BUSINESS

AJW Group, a market leader in the global management of aircraft spares, is celebrating the success of its partnership with Aero Contractors that has seen the Nigerian airline become the first carrier to conduct an aircraft C-Check in West & Central Africa. The C-Check, which was carried out on a Boeing 737-500 aircraft, was marked by an event at the airline’s company headquarters on Friday afternoon, attended by the Nigerian Minister for Aviation and other key stakeholders. AJW has been supporting Aero Contractors as its technical partner since July 2017,…

…woos Nigerian youth to embrace CBN initiatives The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has challenged the graduating students of University of Nigeria, Nsukka (UNN) to explore and take advantage of the present challenges confronting the country to become job creators in the economy. Mr. Emefiele gave the charge on Thursday, November 30, 2017, while delivering the 47th Convocation Lecture of the University of Nigeria, Nsukka, Enugu State, entitled: “A mindset for Succeeding in Today’s Nigeria”. He noted that rising unemployment remained one of the greatest challenges…

The Central Bank of Nigeria (CBN) on Tuesday, November 28, 2017, announced the injection of another $210,000,000 to boost liquidity in the inter-bank Foreign Exchange Market. Disclosing this in Abuja, the Acting Director, Corporate Communications Department, CBN, Mr. Isaac Okorafor said the sum of $100million was offered to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment got an allocation of $55 million. The invisibles segment (i.e. tuition fees, medical payments and Basic Travel Allowance (BTA), among others) was also allocated $55 million. Mr. Okorafor said the releases…

Data made available by the National Bureau of Statistics show that food inflation recorded the lowest month on month movement since September 2016. According to the Core Price Index for October 2017 released by the bureau on Wednesday, the country’s inflation rate stands at 15.91% from the 15.98% recorded in September 2017. “The consumer price index (CPI) which measures inflation increased by 15.91 percent (year-on-year) in October 2017. “This was 0.07 percent points lower than the rate recorded in September (15.98) percent making it the ninth consecutive disinflation (slowdown in…

The Central Bank of Nigeria has continued its sustenance of FOREX liquidity by injecting another $195 million into the inter-bank Foreign Exchange Market, even as the Naira maintains its strength. The $195 million intervention was made on Monday, November 13, 2017. Figures released by the Bank show that it offered the total sum of $100million to the Wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of $50 million. The invisibles segment comprising tuition, medical payments and Basic Travel Allowance (BTA) received $45 million. The Bank’s…

…outlines projections for 2018 The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says the dogged implementation of the Bank’s policy, which restricts importers of certain items access to foreign exchange from the Nigerian Forex market, has led to improvements in the domestic production of those items and a reduction in Nigeria’s import bill. Delivering the 2017 Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos at the weekend, Mr. Emefiele asserted that local manufacturers were recording profits and major boosts to their revenue…

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been conferred with the 2017 Forbes Best of Africa Innovative Banking Award by the Forbes Magazine. Presenting the award to Mr. Emefiele at a dinner held at the Willard Intercontinental, Washington, on the sidelines of the Annual Meetings of the World Bank and the International Monetary Fund (IMF), on Thursday, October 12, 2017, the President of Forbes Customs Emerging Markets, Mark Furlong, said the award was in recognition of Emefiele’s courage and determination in using monetary policy to ensure…