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Foreign exchange policy yields mixed results —Research report

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There are indications in the markets that both the Central Bank of Nigeria, CBN and the federal government would be receiving mixed outcome in respect of the exchange rate policy. Independent survey between July 2015 and January 2016 has indicated that the foreign exchange control regime has resulted in increases in the prices of imported goods and some locally produced ones but some major consumer commodities have remained stable within the period. The apex bank had pegged official exchange rate at N199/ USD1.0 over the past one year while restricting access to the resources, shutting out many end users of foreign exchange. As a result many importers and other users of foreign exchange have resorted to the parallel market forcing exchange rate the market to hit all time low of N320/ USD1.0 by last weekend. The measures were instituted within this period by CBN Governor, Mr Godwin Emefiele, and backed up by both the Finance Minister, Mrs Kemi Adeosun, and President Mohammadu Buhari...
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Omokore opens up on oil swap deals

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*$2.1bn arms probe: I don’t open President’s parcels—Jonathan’s ex-ADC By Soni Daniel, Northern Region Editor ABUJA— The Chairman of Atlantic Energy Drilling Concepts Nigeria Limited, Mr. Jide Omokore, has reportedly been cooperating with operatives, who are probing him over multi-billion oil swap deals between his firm and Nigerian National Petroleum Corporation, NNPC. Ibrahim Magu Omokore, an active player in the oil sector during the previous administration, was taken in by EFCC last week to assist them in unraveling how his firm won oil swap deals running into billions of dollars, and whether such money had been remitted to the coffers of the government. A source confided in Vanguard last night: “We are trying to extract from him the quantity of oil his company was awarded under the oil swap deal and how much he has so far remitted to the government. “So far, he has been cooperating with our operatives but we have not extracted the exact figure of what the deals were worth; we are...
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Why Nigerian graduates are unemployable

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 By:  Ibrahim Apekhade Yusuf A number of factors could be responsible for the inability of Nigerian graduates to secure gainful employment or even maintain steady jobs, Fara Fasuyi, a management consultant has said. According to Miss Fasuyi who heads the School of Enterprise at the prestigious Ibadan Business School, Ibadan, Oyo State, chief among the factors to blame for the growing youths unemployment is the lack of appropriate skills set on the part of the applicants as well as poor work ethics. Besides, she said the poor curriculum in most varsities is such that is completely out of tune with the requirements of modern times, thus majority of Nigerian graduates can’t compete with their peers anywhere in the world. “It is quite disconcerting to note that majority of our universities are out of tune with what’s happening in the rest of the world. You can imagine that some of the courses which were taught some five decades ago are still being taught with little o...
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