Category: Economy

Tinubu Signs Executive Orders For Oil, Gas Investments
March 7, 2024 No Responses

Tinubu Signs Executive Orders For Oil, Gas Investments

President Bola Tinubu has signed an executive order to improve the investment climate and position of Nigeria as the preferred investment destination for the oil and gas sector in Africa. This is in keeping with his commitment to remove obstacles...
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Ecobank MySME Growth Series: Expert Proffers Solution To Manage Strategic Staff In “Japa” Era
March 6, 2024 No Responses

Ecobank MySME Growth Series: Expert Proffers Solution To Manage Strategic Staff In “Japa” Era

Against the backdrop of the migration of Nigerian professionals, commonly regarded as ‘japa syndrome’ to developed countries of the world, a human resource expert, Hilda Kabushenga, CEO, The African Talent Company, has said though the factors are beyond or...
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Ghana Suspends GTB, First Bank’s Forex Licences
March 5, 2024 No Responses

Ghana Suspends GTB, First Bank’s Forex Licences

Citing various breaches of foreign exchange market regulations,the Bank of Ghana has suspended the Foreign Exchange Trading Licences of two Nigerian-owned banks, Guaranty Trust Bank Ghana Limited and FBNBank Ghana Limited.The suspension takes effect from March...
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NGX Group Declares N5.2b Profit, N1.5b Dividend For 2023
March 5, 2024 No Responses

NGX Group Declares N5.2b Profit, N1.5b Dividend For 2023

Nigerian Exchange Group Plc has announced its full-year Audited Financial Statements for the year ended 31 December 2023, with a profit after tax of N5.2 billion and a declaration of a final dividend of N1.5 billion.  The Group experienced a...
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NADDC Boss Harps On CNG Benefits, Agenda  
March 5, 2024 No Responses

NADDC Boss Harps On CNG Benefits, Agenda  

Compressed Natural Gas (CNG) will create more jobs and wealth for Nigerians, Director-General, National Automotive Design and Development Council (NADDC), My Joseph Osanipin, reiterated on Monday.  The NADDC DG stated this at the Critique/Validation ...
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Obaseki Faults CBN’s New Monetary Policy
March 5, 2024 No Responses

Obaseki Faults CBN’s New Monetary Policy

The Governor of Edo State, Godwin Obaseki, has faulted the Central Bank of Nigeria for raising the Monetary Policy Rate by 22.75 per cent. Obaseki contended that the decision is not the answer to the ongoing economic challenges in the...
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Onyema, Murray-Bruce seek Support For Investments in Nigeria As Innoson Bags Silverbird Award
March 5, 2024 No Responses

Onyema, Murray-Bruce seek Support For Investments in Nigeria As Innoson Bags Silverbird Award

Key players in the nation’s business circle, including Senator Ben Murray-Bruce and Chief Allen Onyema, have called on Nigerians to support local investments to boost the country’s economy. The calls were made on Sunday when Chief Innocent Chukwuma...
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Experts Propose Advancing AfCFTA  Implementation As Theme Of Next Conference Of Ministers
March 3, 2024 No Responses

Experts Propose Advancing AfCFTA  Implementation As Theme Of Next Conference Of Ministers

The next Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development (COM2025) will be held in Ethiopia in March 2025. A statement issued on Sunday explained that at the closing of the Experts Segment of...
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FG Approves 90-Day Window For Payment Of Duty On Improperly Imported  Vehicles 
March 3, 2024 No Responses

FG Approves 90-Day Window For Payment Of Duty On Improperly Imported  Vehicles 

To  enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, has announced a 90-day window for regularizing import duties on specific ca...
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FG Pledges Mineral Data To Aid Qattari Businessmen
March 3, 2024 No Responses

FG Pledges Mineral Data To Aid Qattari Businessmen

Comprehensive data on the pattern and quantity of energy mineral Lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in Nigeria.Solid Minerals Development Minister Dr. Oladele Alake made th...
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Africa Prudential Appoints Catherine Nwosu CEO
March 2, 2024 No Responses

Africa Prudential Appoints Catherine Nwosu CEO

Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange Group (NGX Group), has announced a historic leadership transition.  Effective March 1, 2024, Catherine Nwosu will become the company’s first female Chief Executive Offic...
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MTN Nigeria Records N740b Forex Losses
March 2, 2024 No Responses

MTN Nigeria Records N740b Forex Losses

MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion in 2023.  The company attributed the losses to a massive foreign currency loss of N740 billion up from N81 billion reported...
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CBN Revokes Operational Licenses Of 4,173 BDCs
March 1, 2024 No Responses

CBN Revokes Operational Licenses Of 4,173 BDCs

The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bankand Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised OperationalGuidelines for Bureaux De Change 2015, has revoked the licenses of...
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Owerri Customs Impounds N5.35b Contrabands In 2023
March 1, 2024 No Responses

Owerri Customs Impounds N5.35b Contrabands In 2023

Between January and December, 2023, the Nigerian Customs Service (NCS), Federal Operations Unit (FOU), Zone C, Owerri, recovered N5.5billion from smugglers and fraudulent importers. A statement on Friday explained that the unit intercepted contraband from smug...
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