The issue of training of exited N-Power beneficiaries has dragged for too long and this time, the Ministry of Humanitarian Affairs, Disaster Management, and Social Development promised that the empowerment of the former batches A and B would commence in October 2021.
The depreciation of the Nigerian currency lately calls for worry, from N199/$1 at the time President Muhammadu Buhari and his APC-led government took over to N576/$1 at the time of publication, it would not be economically palatable for Godwin Emefiele, a successful GMD at Zenith Bank and a former finance lecturer, to leave behind a bitter legacy at Nigeria’s apex bank.
Two days after Abokifx suspended black market rate on its foreign exchange tracking website, Naira has depreciated further.
On Monday, September 20, 2021, $1 was N575 in some parts of Lagos, even as Abokifx removed all the updates on its website, following a threat from the Central Bank of Nigeria (CBN) on Friday, September 17, 2021, to shut down the website.
The Cabinet of the United Arab Emirate (UAE) revealed a damning list of sponsors of Boko Haram in Nigeria, a terror group that has killed close to 50,000 Nigerians and displaced more than half of the population in most part of the North-East states, most especially Borno State since it began its operation close to two decades.
When the Naira traded at NGN545/$1 on Friday, September 10, 2021, we thought that was the worst for the Nigerian currency.
But NGN/USD has depreciated even further at the close of trading Tuesday, September 14, 2021, it ended the day at NGN557, corroborating our earlier analysis that the NGN was heading to NGN600/USD.
In international trade, some items cannot be imported from the producing country to another, Nigeria is no exception. There are some goods that are on the list of the Nigeria Customs Service, a security agency of the government that monitors the movement of goods into and out of the country, which is popularly called contraband.
The movement of products across the border isn’t the same as inter-state trade. The seller can personally deliver an order from Ibadan to Lagos where his customers are based, it isn’t like that in international trade. Because of this, an exporter has to understand the export market before diving in.