Monday, September 19, 2016

Emefiele says Nigeria’ll start getting out of recession by October, 2016

According to Godwin Emefiele, the Governor of the Central Bank of Nigeria, the nation’s economy will likely come out of recession by the fourth quarter of this year when the result of the various measures put in place by the FG and the monetary authorities become manifest, Punchng reports.

Buhari, Osinbajo, Ministers, Others Pocket N2.3bn Salaries In One Year

Despite cut in the salaries of President Muhammadu Buhari and Vice-President Professor Yemi Osinbajo, both of them including cabinet ministers and other political appointees pocketed the sum of N2.295 billion as official salaries and allowances in the last one year.

Recession: Investment Inflow Shrinks By N642bn Under Buhari

The Nigerian economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari.

The $2.1bn, when converted based on the N305.5 per dollar official exchange rate of the Central Bank of Nigeria, translates to about N642bn.