The National Bureau of Statistics says Nigeria’s inflation has dropped for its fifth consecutive month.
The pandemic devastated the livelihoods of Nigeria’s young entrepreneurs. But a central bank policy drafted to cushion the impact has been fraught with incompetence and corruption.
The CBN governor said the disbursement is part of measures to avert the looming food crisis.
Same day last week the national currency traded at N530 per dollar.
The group wants details of the apex bank’s engagement with Bitt to be made public.
CBN said it chose Bitt based on the company’s competence, efficiency, and implementation experience.
The vice president said the government must address some of the issues in the civil service, especially that of accommodation for civil servants.
Law enforcement agencies must be willing and committed in enforcing this law, especially as it sometimes involves highly placed individuals.
Analysts predict that the sell pressure would persist as investors adjust their holdings following CBN’s shut out of BDCs from forex supply.
Analysts at Cordros Research say the CBN’s ban on forex sale to BDC operators will further pressure the exchange rate in the parallel market.
