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‘Dollarisation of Economy’, a Mockery of Buhari’s Budget – Falana

Human rights lawyer, Mr. Femi Falana (SAN), yesterday filed a suit before the Federal High Court in Abuja praying for an order restraining the Central Bank of Nigeria from allowing market forces to determine the exchange rate of the naira.

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Harsh Economy Forces Ecobank to ‘Sack’ 50 Top Managers

As a means of staying afloat amid the biting economic downturn in the country, Ecobank Nigeria Plc has sacked 50 top management staff of the bank, each of whose salaries costs the bank between N1 million to 2 million.

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Industrialist Warns There Will be Massive Job Losses in Four Weeks

There are fears of looming massive retrenchment of workers in the country as a member of the Nigerian Economic Summit Group; Babatunde Odunayo has alerted that many companies in Nigeria will begin to shut down over the next four to six weeks.

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Banks Struggle With Excess N1.5trn Deposits

Excess liquidity in the banking system rose to about N1.24 trillion, last weekend, following huge backlog of unmet foreign exchange demand for which the Central aBank of Nigeria, CBN, returned the Naira back-up funds to the banks on Friday.

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