FEC Approves Continuation Of Naira-for-crude Initiative
The Federal Executive Council has formally ordered the full implementation of the previously suspended Naira-for-Crude agreement with local refiners. The Minister of Finance Wale Edun at a meeting with representatives of the Dangote Refinery yesterday said the naira-for-crude initiative is still in effect and will continue for as long as it aligns with the public […]
Zimbabwe launches new gold-backed currency
Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold”. It is the latest attempt to stabilise its economy. Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set at a market-determined exchange rate. The ZiG replaces a Zimbabwean dollar, the RTGS, […]