By InvestAdvocate Lagos (INVESTADVOCATE)- Samuel Ukura, the auditor-general of the Federation said on Monday that the Nigerian National Petroleum Corporation (NNPC) failed to remit $16 billion (N3.2 trillion) in revenues to the federal government in 2014, according to a Reuters report. This is the same year Lamido Sanusi, the then […]
Tag: central bank governor
AFRICA INVESTMENT-What is the Nigerian naira really worth?
* Reliance on dollar-based oil makes naira hard to gauge * Dwindling reserves reduce room to defend naira * Devaluation possible, not a one-way bet -analysts “What is a cynic?” asks Cecil Graham in the Oscar Wilde play “Lady Windermere’s Fan”. “A man who knows the price of everything and […]
CBN’ll devalue naira in 18 months – Report
The Central Bank of Nigeria will devalue the naira within the next 18 months, a new report by the Nigeria-based Financial Derivatives Company Limited has indicated. The Managing Director, FDC, Mr. Bismarck Rewane, in the latest edition of its bi-monthly Business and Economic Update, noted that the nation’s external reserves […]
