Business

CBN Exchange Rate Unification ‘ll Boost Federal Revenue By N4 trn – CPPE

Published

3 years ago

June 17, 2023

665 Views

Centre for the Promotion of Private Enterprise (CPPE) has estimated that the move by Cental Bank of Nigeria to unify the exchange rate, would boost government revenue by a minimum of N4 trillion among other benefits to the economy.

This was CPPE’s reaction to the free float of the national currency against the dollar and other global currencies on the official Investors and Exporters’ Window by CBN, yesterday.

Dr. Muda Yusuf, it’s Director-General, said that CPPE welcomes the bold step taken by the Bola Ahmed Tinubu administration towards the unification of the naira exchange rate.

CPPE, an economists tink-tank, who has been advocating for a unified exchange rate regime , asserts that the liberalization of the foreign exchange market would unlock the huge potentials for investment, jobs and capital flows, adding that investors’ confidence would be positively impacted.

” A unified exchange rate regime offers the following benefits for the economy:

i.It enhances liquidity in the foreign exchange market.
ii.It reduces uncertainty in the foreign exchange market and therefore enhances the confidence of investors.
iii.It is more transparent as mechanism for forex allocation.
iv.It minimizes discretion in the allocation of forex and reduces corruption vulnerabilities.
v.It reduces opportunities for round tripping and other sharp practices.
vi.It would increase disclosures with respect to export proceeds and compliance with non-oil export declarations, especially the non-oil export documentation [NXP]. “

Business

Dangote Cement Shelves $18 billion Listing On LSE

Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.

Published

13 hours ago

November 11, 2026

OCHEFA

79 Views

Dangote Cement Plc has abandoned plans for a secondary listing of $18 billion on the London Stock Exchange and preferring to keep its shares exclusively on the Nigerian Exchange (NGX).

The decision , according to the company is because the LSE has been struggling to attract major new listings as companies increasingly reconsider their presence on the UK bourse.

In May this year , Aliko Dangote said that he was holding early discussions about a potential London listing.

The move would have given the company access to a broader pool of international investors and additional sources of capital.

However, the company said on Tuesday that it had abandoned the plan, citing market conditions and strategic priorities. Its shares will remain listed on the Nigerian Exchange, and the decision will not affect its operations or business plans.

Business

I sold heavy weapons internationally – Orji Kalu

“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.

Published

2 days ago

November 10, 2026

OCHEFA

81 Views

The Senator representing Abia North, Orji Kalu, has disclosed that he previously engaged in the international trade of heavy weapons, selling arms to buyers in different countries before quitting the business at the insistence of his parents.

Kalu made the revelation during an interview on Arise Television on Monday, while discussing his business background and relationships with former and current South African leaders.

Asked whether he was an arms dealer, the former Abia State governor answered in the affirmative, saying he stopped after his parents intervened.

“Yes, so I stopped because my parents, my mother, my father came and said I must stop, and I stopped,” he said.

Asked whether he sold weapons to people who intended to use them to kill others, Kalu dismissed the suggestion, saying his motivation was to make money.

“No, no, no, no, no, no. I was selling guns to make money, whether they blow up it’s not my business,” he said