CBN angry with banks over poor credit facilities to private sector, as contractors’ debt hit N2.7tr

WorldStage Newsonline– The Central Bank of Nigeria (CBN) has expressed dissatisfaction with the Deposit Money Banks (DMBs) over the low level of credit facilities made available to the private sector to catalyze growth in the economy, saying credit growth had not been as good as thought.

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CBN’s policy committee retains 14% interest rate, others

WorldStage Newsonline– The re-constituted Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) rose from its two day meeting on Wednesday with unanimously decisions to retain the Monetary Policy Rate (MPR) at 14.0 per cent; Cash Reserve Rte (CRR) at 22.5 per cent; Liquidity Ratio at 30.0 per cent; and Asymmetric corridor at +200 and -500 basis points around the MPR.

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Nigeria: FG may consider states, private sector’s pleas for extension of VAIDS deadline

WorldStage Newsonline– There are indication that the Federal Government of Nigeria may accept the requests by the States and Private Sector for an extension of the tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS) which expired on Saturday

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Nigeria: FG releases list of treasury looters *List is hollow and laughable – PDP

WorldStage Newsonline–  The Federal Government of Nigeria on Friday listed National Chairman of Peoples Democratic Party (PDP), Uche Seconduns among some members of his party to be among those who alleged  looted the national treasury when the party was in power.

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Nigeria: Only 41% of arable land is cultivated, as expert calls for investment in agriculture value chain

WorldStage Newsonline– A call had been made for increased investment in Nigeria’s agriculture value chain, to boost the sector’s contribution to the Gross Domestic Product (GDP) as only about 32 to 34 million hectares out of 82 million hectares of the nation’s arable, representing 41%, is being cultivated.

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