economy + june 2018

EIB Supports 65 Firms with €737M Investment Funds

The European Investment Bank (EIB) said it is supporting 65 Nigerian companies with 87 million euros and 650m euros through direct and indirect investment funds respectively in 2018. The bank’s Head of Regional Representation for West Africa, Isabella Van Grunderbeeck,...
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CBN to Commence Bi-weekly Auction of Chinese Yuan

Following the $2.5 billion bilateral currency swap agreement signed last month between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC), the CBN Thursday announced plans to start bi-weekly auctions of the Chinese yuan. The CBN...
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2017: Rice Import Bill Reduces by 90%

The federal government has declared it spent only $160 million on importation of paddy rice last year. The Minister of Information and Culture, Alhaji Lai Mohammed, made the revelation thursday. He said the spending represented a 90 percent cut in...
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