“Indeed, a major source of objection to a free economy is precisely that it… gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.” Milton Friedman.
As Nigeria was celebrating the Sallah holidays last week, news came from the Special Assistant to the President on Media and Publicity that the President had directed the Central Bank of Nigeria not to allocate any cent to food importation any more. Going by statistics, the Central Bank has done very well in reigning in frivolous importation of items that could be produced in Nigeria.
There is no doubt that these are good stories coming out of the Central Bank of Nigeria. It is not unlikely that these may be one of the major reasons the President considered an outright ban on allocation of official foreign exchange for importation of food items in the country.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NIPCO Deepens LPG Market With 10,000MT Plant FacilityNIPCO Deepens LPG Market With 10,000MT Plant Facility Liquefied Petroleum Gas (LPG), distribution company, NIPCO Plc, has declared plans to deepen the commitment of its 10,000 metric tons plant for
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Alaba International Market Celebrates Founding Fathers, 40 Years AfterAlaba International Market Celebrates Founding Fathers, 40 Years After International Market Alaba Electronics (IMAE) is about 40 years old. Recently, the market association celebrated those behind the establishment of the
Source: LeadershipNGA - 🏆 4. / 77 Read more »
CBN intervention to retail secondary market hits $13bn in 1yr – Daily TrustData compiled by Daily Trust show that the Central Bank of Nigeria (CBN) has made interventions in the retail Secondary Market Intervention Sales (SMIS) to the tune of $13 billion between August, 2018, and August, 2019. This total is different from the recently introduced Chinese Yuan (CYN) interventions which are mainly geared towards manufacturers.ADVERTISEMENT The …
Source: Daily Trust - 🏆 13. / 51 Read more »
Stock Market Capitalisation Gains N1.8trn In 8 MonthsStock Market Capitalisation Gains N1.8trn In 8 Months Three firms\u2019 listing has lifted Nigerian stock market capitalisation by N1.805 trillion in eight months to close at N13.391 trillion from N11.586
Source: LeadershipNGA - 🏆 4. / 77 Read more »