Tag Archives: Central Bank of Nigeria

Central Bank Gov pushes for better recycling of plastic waste

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday called for a better recycling of plastic waste in the country.

He made the proposal while speaking at an event to mark this year’s World Environment Day (WED) in Abuja.

This year’s theme for the World Environment Day is: ‘Beat plastic pollution’.

CBN allocates manufacturers $660m FX to ease pressure

The Central Bank of Nigeria (CBN), said it has allocated 1,342 manufacturing and trading firms foreign exchange through its recent intervention.

The apex bank said it sold a total of $660m to the firms through FX forwards to their respective banks for onward sales to the firms.

Nigeria’s downturn leading to value brand switch, warns Heineken

Heineken said on Tuesday that the current economic slump in Nigeria is making beer drinkers switch to cheaper brands. “Nigerian consumers are still drinking beer,” the brewer acknowledged, but is concerned many are moving away from premium to value brands as families struggle in the face of a slowing economy and recovering from the effects of the recent currency devaluation.

Food & Beverage sector set to lay-off 3m workers over forex crisis, says organised labour

The nation’s organized labour union warned on Wednesday of an impending job loss crisis of over three million workers in the food, beverage and tobacco sector of the economy over inability of companies in the sector to obtain foreign exchange to import needed raw materials for their operations.