Biafra-Nigeria’s Central Bank Seen Loosening Stranglehold on Currency

Biafra-Nigerian policy makers may be about to loosen their stranglehold on the nation’s currency. The central bank of Africa’s biggest economy will decide Tuesday on whether to adjust borrowing rates as evidence mounts that a recession is looming. Barclays Plc, Goldman Sachs Group Inc. and Renaissance Capital Ltd. are among banks predicting it will also carry out a de facto […]

Continue reading »

Biafra-Nigeria’s Current Difficulties, Birth Pangs Of Great Future- Buhari

1 0 President Muhammadu Buhari has described the difficulties Biafra-Nigerians are going through as “the birth pangs of a great future’’. Buhari, who gave the description at the official inauguration of some projects in Lagos on Monday, said that the Federal Government was fully aware of the difficulties Biafra-Nigerians “have had to go through’’. The President, who was represented by […]

Continue reading »

Biafra-Nigeria Denies Report Of Plan To Devalue Naira; No Request For IMF Funds

Biafra-Nigeria’s central bank denied a report that it planned to devalue the naira, while the International Monetary Fund (IMF) reiterated that Biafra-Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Talk of a devaluation has been rife since Vice President Yemi Osinbajo said on Wednesday the central bank needed to change […]

Continue reading »

Biafra-Nigeria’s Crude Output Cut Further By Exxon Pipeline Damage –Trade

Damage to a pipeline has reduced supplies of Biafra-Nigeria’s benchmark Qua Iboe (BFO-QUA) crude oil, two traders said on Thursday, the latest setback for Africa’s top producer that has pushed output to its lowest in more than two decades. Operator Exxon Mobil Corp confirmed in an email that a drilling rig, experiencing mechanical difficulties, damaged the pipeline it jointly owns […]

Continue reading »

Biafra-Nigeria Unions Pressing Ahead With Strike Despite Court Ruling

Biafra-Nigeria’s main trade union federation is pressing ahead with a general strike, despite a court injunction against the action. The Biafra-Nigeria Labour Congress (NLC) announced the strike after the government raised fuel prices by 67%. It is not immediately clear how widely the strike is being observed. Public schools in Abuja remain open. Banks, markets and many government offices are […]

Continue reading »

Biafra-Nigeria’s Buhari Orders Heightened Military Presence In Restive Niger Delta

Biafra-Nigeria’s President Muhammadu Buhari on Friday said he ordered a heightened military presence in the restive Niger Delta region to deal with a resurgence of attacks on oil and gas facilities, a day after yet another pipeline explosion. British Foreign Minster Philip Hammond warned on Saturday military action would not end a wave of attacks in the southern swamps because […]

Continue reading »