Banks had complained about the previous CRR regime as they saw it as a punitive policy.

They said that this may be the last straw that will cause a devastation of businesses across Nigeria’s economy.

‘It’s up to the CBN to ensure that more of the dollars made available to it is used to take care of past financial obligations…”

It was cut off from power supply after the fire incident that destroyed over 520 shops and properties worth billions of naira.

The CBN has issued revised guidelines on IMTOs, setting a $1m minimum share capital for operators.

The IOC however reported a $28bn 2023 profit despite a 30% drop in earnings.

The government also debunked a report that alleged underhand dealings in the Malabu deal, calling it a compendium of lies.

The apex bank has, to this effect, removed the exchange rate allowable limit for IMTOs.

This after a judge invalidated his $56bn pay package at the electric vehicle, calling it “an unfathomable sum” unfair to shareholders.

He said Nigeria pays the lowest tariff for power supply in West Africa, with Ghana, Ivory Coast, Niger paying almost more than double.

He said President Tinubu is eager for the bloc to resume production.

He said President Tinubu’s antecedents as a pro-business leader is a springboard that will galvanize the development of the area.

Governor Obaseki described the partnership as a great financing model for unlocking infrastructure development in the country.

He was elected after a meeting of the board of directors held on Jan 31 and succeeds Alhaji Ahmad Abdullahi.

“There’s a considerable journey ahead in fully addressing the issue.This is exacerbated by the devaluation of the Nigerian Naira…”

Tourism Minister De Lille said that such growth can be continued by removing obstacles in the industry.

The apex bank’s office relocation directive has taken effect as staff have reportedly resumed in Lagos.

“Average inflation in Asia fell to 2.6% in 2023 from 3.8% in 2022, with particularly swift progress in emerging economies.”

Tuesday’s parallel market rate stayed the same as Monday at N1,460/$1.

The growth projection is 3.76% lower than