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Central Bank Of Nigeria
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky political controversies. After the end of colonial rule, the desire of the government to become proactive in the development of the economy became visible, especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its ori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aliyu Mai-Bornu
Mallam Aliyu Mai-Bornu (1919 – 23 February 1970) was a Nigerian economist, and the first indigenous Governor of the Central Bank of Nigeria. Life Early life and education Mai-Bornu was born in the town of Yola to parents of Kanuri heritage. His father was a councillor in the Lamido Native Authority and initially opposed Mai-Bornu's attendance of school until he was persuaded by the Lamido to give Mai-Bornu a chance. Mai-Bornu attended Yola Elementary School, Yola Middle School, and was admitted to Kaduna College in 1938, graduating in 1942 as an English language teacher. He started his teaching career at his alma mater, Yola Middle School, from 1942 to 1946 before proceeding to another one of his alma maters, Kaduna College (1946–1952), and soon joined the Northern Teachers Association. In 1952, he returned to Yola as deputy headmaster of the Yola Middle School and later left Yola to be a house tutor at the Veterinary School in Vom for five months. He earned a government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Magazines
A magazine is a periodical literature, periodical publication, print or digital, produced on a regular schedule, that contains any of a variety of subject-oriented textual and visual content (media), content forms. Magazines are generally financed by advertising, newsagent's shop, purchase price, prepaid subscription business model, subscriptions, or by a combination of the three. They are categorised by their frequency of publication (i.e., as weeklies, monthlies, quarterlies, etc.), their target audiences (e.g., women's and trade magazines), their subjects of focus (e.g., popular science and religious), and their tones or approach (e.g., works of satire or humor). Appearance on the cover of print magazines has historically been understood to convey a place of honor or distinction to an individual or event. Term origin and definition Origin The etymology of the word "magazine" suggests derivation from the Arabic language, Arabic (), the broken plural of () meaning "depot, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roy Pentelow Fenton
Roy or Roi is a masculine given name and a family surname with varied origins. France In France, this family name originated from the Normans, the descendants of Norse Vikings who migrated to Amigny, a commune in Manche, Normandy.. The derivation is from the Old French ''roy'', ''roi'' (), meaning "king", which was a Epithet">byname used before the Norman Conquest and a personal name in the Middle Ages. Earliest references cite ''Guillaume de Roy'' (William of Roy), who was a knight of the Knights Templar and one of several knights and feudal lords (seigneur) of the Roy family in France and Switzerland. In Canada and in the United States, the descendants of the families of Roy, Le Roy that immigrated to North America have been granted a coat of arms by the Governor General of Canada. England After the Norman Conquest, the victorious Normans and their allies settled England and eventually formed the ruling class of nobles called Anglo-Normans. Roy, or Roi was a family na ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ownership Equity
In finance, equity is an ownership interest in property that may be subject to debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. When liabilities attached to an asset exceed its value, the difference is called a deficit and the asset is informally said to be "underwater" or "upside-down". In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expatriate
An expatriate (often shortened to expat) is a person who resides outside their native country. The term often refers to a professional, skilled worker, or student from an affluent country. However, it may also refer to retirees, artists and other individuals who have chosen to live outside their native country. The International Organization for Migration of the United Nations defines the term as 'a person who voluntarily renounces his or her nationality'. Historically, it also referred to exiles. The UAE is the country with the highest percentage of expatriates in the world after the Vatican City, with expatriates in the United Arab Emirates representing 88% of the population. Etymology The word ''expatriate'' comes from the Latin words and , from , . Semantics Dictionary definitions for the current meaning of the word include: :Expatriate: :* 'A person who lives outside their native country' (Oxford), or :* 'living in a foreign land' (Webster's). These definitio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Banks
A commercial bank is a financial institution that accepts Deposit (finance), deposits from the public and gives loans for the purposes of consumption and investment to make a Profit (economics), profit. It can also refer to a bank or a division of a larger bank that deals with wholesale banking to corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks. Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite a common misconception known as the "bank analogy". Unlike commercial banks, Central bank, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. History The name ''bank'' derives from the Italian language, Italian word ''banco'' 'desk/bench', used during the Italian Renaissance era by Florence, Florentine bankers, who used to carry out their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Budget
A government budget is a projection of the government's revenues and expenditure for a particular period, often referred to as a financial or fiscal year, which may or may not correspond with the calendar year. Government revenues mostly include taxes (e.g. inheritance tax, income tax, corporation tax, import taxes) while expenditures consist of government spending (e.g. healthcare, education, defense, infrastructure, social benefits). A government budget is prepared by the Central government or other political entity. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. The government implements economic policy through this budget and realizes its program priorities. Once the budget is approved, the use of funds from individual chapters is in the hands of government ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees, and other revenues. State budget exp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Of Payments
In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. In other words, it is economic transactions between countries during a period of time. These financial transactions are made by individuals, firms and government bodies to compare receipts and payments arising out of trade of goods and services. The balance of payments consists of three primary components: the current account, the financial account, and the capital account. The current account reflects a country's net income, while the financial account reflects the net change in ownership of national assets. The capital account reflects a part that has little effect on the total, and represents the sum of unilateral capital account transfers, and the acquisitions and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minna
Minna is a city in the Middle Belt of Nigeria. It is the capital city of Niger State, one of Nigeria's 36 federal states. Its original two major ethnic groups are the Gbagyi and the Nupe peoples. History Archaeological evidence suggests settlement in the area dates back to about 47,000–37,000 years ago. Muslim culture filtered into Minna by way of the ancient Saharan trade routes much later, and the city contains many mosques including Minna Central Mosque and Muslim organizations like the Islamic Education Trust, Minna, Muslim Students' Society of Nigeria - Minna Area Council (MSSN-MNAC), Da'watu-Ilallahi-Wa-Rasulihi Association (DAWRA), etc. Sharia law is practised. Christianity is the second most practised religion in the city. Popular churches include the Faith Church, Grace Baptist Church, Nupe Kalvari Churches, Anglican Churches, ECWA churches, Baptist churches, Victory Christian Church, the Apostolic Church and many others. Minna is the home state of Nige ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daily Times Of Nigeria
''The Daily Times'' was a Nigerian newspaper with headquarters in Lagos. At its peak, in the 1970s, it was one of the most successful locally-owned businesses in Africa. The paper went into decline after it was purchased by the government in 1975. What was left was sold to a private investor in 2004. Folio Communications Limited officially assumed the ownership of the Daily Times of Nigeria Plc on September 3, 2004. The company was not and is still not a consortium. It is a private limited-liability company. The printing of the flagship title ''The Daily Times'' resumed after the assumption of ownership in earnest from 2006 until 2009, partially to satisfy the embedded requirements contingent upon the Enterprise Sale Deed while company turnaround and restructuring continued. Although the flagship ''Daily Times'' returned to the streets in December 2014, further efforts have been made towards the return of the other viable titles, especially the ''Sunday Times'', the ''Weekend Tim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British West African Pound
The pound was the currency of British West Africa, a group of British colonies, protectorates and mandate territories. It was equal to one pound sterling and was similarly subdivided into 20 shillings, each of 12 pence. It was issued from 1912 to 1965 by the West African Currency Board. History In the 19th century, the pound sterling became the currency of the British West African territories, and standard issue British coinage circulated. The West African territories in question were Nigeria, the Gold Coast (now Ghana), Sierra Leone and the Gambia. A distinctive set of sterling coinage for use in British West Africa British West Africa was the collective name for British settlements in West Africa during the colonial period, either in the general geographical sense or the formal colonial administrative entity. British West Africa as a colonial entity was ... was authorized by a series of Orders in Council beginning with the Nigeria Coinage Order, 1906, and in 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
