The Central Bank of Nigeria (CBN) spent about N6 billion to establish a business school in the Ahmadu Bello University (ABU), Zaria, Kaduna.

The university’s Vice-Chancellor, Prof. Ibrahim Garba, made this known on Saturday at ABU’s 40th convocation ceremony held at its main campus, Samaru, Zaria.

Garba said that the business school had begun as a faculty, covering Accounting, Business Administration and Economics Departments.

President of African Development Bank (AfDB) Dr Adewumi Adesina has revealed that, the bank’s total active portfolio in Nigeria is over six billion dollars.

According to Adesina winner of World Food Laureate Award in Agriculture in the U.S in 2017, the bank which strongly supports Nigeria rallied support for a budget of 600 million dollars to help build a more resilient economy specifically When Nigeria was going through a tough economic period.

“For instance, we invested over 300 million dollars from the private sector part of the bank in Dangote industries, Petro-chemical industries and the fertiliser manufacturing companies".

Ogun, Katsina, Jigawa and Plateau states proposal for the acquisition of about 492.4 Million Dollars foreign loan have been approved by Legislators at the Lower House of the National Assembly.

The composition of the loan facility indicates Jigawa State to get 32.4 million dollars from the Islamic Development Bank for integrated rural development.

The Monetary Policy Committee (MPC) has once again retained the Monetary Policy Rate at 14 per cent due to persistent uncertain economic conditions and high inflation.

The Central Bank Governor, Mr Godwin Emefiele, made this known at a news conference on the outcome of the last Monetary Policy Committee meeting for the year 2017 in Abuja on Tuesday.

He said that nine members were present at the meeting and while eight voted to retain the MPR and other monetary indices, one person voted to reduce the MPR by 100 basis point.

The National Bureau of Statistics (NBS) says the country slipped into recession in 2016 because the government failed to pay attention to data released by the Bureau, indicating that the economy was heading the wrong way. The Statistician General of the Federation, Dr. Yemi Kale stated this on Thursday while speaking at the 2017 African Statistics Day held in Abuja.

Nigeria and Japan on Tuesday signed a N642 million grant to assist the Federal Government’s economic efforts.

The amount would be provided by the Government of Japan.

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma said this in a statement signed by his Special Adviser on Media, Mr Akpandem James in Abuja.

The Speaker of the House of Representatives, Hon Yakubu Dogara, has indulged the business community of Italy to invest in Nigeria as President Muhammadu Buhari's administration has provided viable platform for business progress with several ongoing reforms.

The speaker made this known during a meeting organised by the Nigerian ambassador to Italy Yusuf Jonga Hinnain, which was held between Nigerian community leaders in Italy and some Italian business owners in Rome.

Reports indicate that no fewer than 16 companies have withdrawn their operations from the Onne Free Trade Zone. This development may not be unconnected to allegations that the Oil and Gas Free Zones Authority (OGFZA) has been damaging the concept of free trade zones in the country.

The Senate on Wednesday says the planned passage of the 2018 Budget by January is no longer feasible due to the reluctance and outright refusal by heads of agencies to defend their budgets before the National Assembly.  The Chairman Senate Committee on Media and Public Affairs, Sen. Sabi Abdullahi stated this on Wednesday in a chat with newsmen.

Court Reverses Decision To Freeze Accounts Without BVN

A Federal High Court judge in Abuja who granted an order for bank accounts not linked to Bank Verification Numbers (BVNs) to be frozen has reversed his decision.