Business Economy

Experts reaction trail Buhari’s N10.77trn 2020 budget presentation

Ihesiulo Grace 9 October 2019 0

…It’s high time Nigeria found ways to address its deficit issues -Economist …Government must stop saying our GDP is within means -Expert …Budget does not capture how the Govt will lift 100m out of poverty -Rotimi Economists and finance experts have reacted to the

Business Economy

Osinbajo sets for Nordic-African Business summit in Oslo

Ihesiulo Grace 8 October 2019 0

*To hold bilateral meeting with Prime Minister of Norway In pursuit of the Buhari administration’s Economic Recovery and Growth Plan (ERGP) especially regarding the active mobilization of foreign investment, Vice President Yemi Osinbajo, SAN, will be honouring a personal invitation of the Prime Minister of Norway, Erna Solberg, to attend the Nordic-African Business Summit

Business Economy

Nigerian leather generating $800m annually ― FG

Ihesiulo Grace 8 October 2019 0

The Federal Government on Monday has said the Nigerian Leather Industry now generates revenue for the country valued between $600 to $800 million annually. The FG through the Minister of Science and Technology, Dr Ogbonnaya Onu, disclosed this at the opening ceremony of the National Leather and Leather products policy implementation plan validation workshop held […]

Business Economy Money Money

World Investor Week: NSE joins WFE, IOSCO to promote importance of financial literacy

Ihesiulo Grace 8 October 2019 0

The Nigerian Stock Exchange (NSE) has joined The World Federation of Exchanges (WFE) and International Organization of Securities Commissions (IOSCO) in promoting the importance of financial literacy. The Exchange hosted the inaugural “Ring the Bell for Financial Literacy” initiative, using its Closing Gong ceremony to further, draw attention to the importance of financial

Economy

N8bn CBN currency scam: Court orders EFCC to produce 106 boxes containing stolen money

Ihesiulo Grace 4 October 2019 0

A Federal High Court in Ibadan, on Friday ordered the Economic and Financial Crimes Commission (EFCC) to produce the 106 boxes, containing the N900 million allegedly stolen by two workers of Zenith bank PLC. NAN reports that the EFCC charged Bolade Ajuwan and Samuel Ogbiede alongside six Central Bank officials. Specifically, the apex bank employees […]

Business Crime Economy Law

SMEDAN inaugurates anti-corruption unit to promote transparency

Ihesiulo Grace 4 October 2019 0

In a bid to promote transparency among the staff of the agency, The Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN) has inaugurated an Anti-Corruption and Transparency Unit (ACTU). While inaugurating the unit, Director-General of SMEDAN, Dr Dikko Umaru Radda, charged staff of the agency to be fully involved in breaking the corruption chain. […]

Banking Business Economy Money Money

60% LDR: How stock price of sanctioned banks depreciate on NSE

Ihesiulo Grace 4 October 2019 0

The stock price of five banks out of 12 sanctioned by the Central Bank of Nigeria (CBN) on Thursday depreciated on The Nigerian Stock Exchange (NSE). The apex bank on Wednesday debited 12 banks who failed to meet the initial deadline of 60 per cent Loan to Deposit Ratio (LDR) by September 30, 2019, in […]

Banking Business Economy Money Money

Equities market declines by N112bn over investors sustained profit-taking

Ihesiulo Grace 4 October 2019 0

The equities market segment of the Nigerian Stock Exchange (NSE) on Thursday continued on a downward trend as investors’ investment declined by N112 billion on the back of sell-offs in high capitalised stocks. The All Share Index (ASI) decreased by 229.18 absolute points, representing a dip of 0.84 per cent to close at 27,085.69 points. […]

Banking Business Economy

FIRS to capture new 45m taxpayers before December-Fowler

Ihesiulo Grace 4 October 2019 0

…As States IGR grew by 46.11% to N1.16trn in three years As part of efforts to increase the nation’s revenue through taxation, Federal Inland Revenue Service (FIRS) has said about 45 million Nigerians will be captured as taxpayers before December 2019. Also, the Internally Generated Revenue (IGR) collection at the sub-national level grew exponentially by […]

Economy World

Zimbabwe to introduce new currency in November — Official

Ihesiulo Grace 3 October 2019 0

The Reserve Bank of Zimbabwe is to introduce a new currency in November, a member of the bank’s Monetary Policy Committee, said on Thursday. Eddie Cross, a renowned economist, who made this known in an interview with State broadcaster Zimbabwe Broadcasting Corporation (ZBC), said that the new currency would be introduced in a move set […]

Banking Business Economy Money Money

Implementation of cashless policy poses threat to MSMEs survival – MAN

Ihesiulo Grace 2 October 2019 0

The Manufacturers Association of Nigeria (MAN) has said that the implementation of the cashless policy on withdrawals may have a negative impact on Micro, Small, and Medium Enterprises (MSMEs) that are clearly the engine room for growth of the economy and employment generation. Expressing its concern over the possible implication of Central Bank of Nigeria […]

Business Economy Food & Nutrition Wellbeing

Desist from alteration of expiry date on products, Lagos govt warns manufacturers

Ihesiulo Grace 2 October 2019 0

The Lagos state government has warned manufacturers and service providers to desist from the tactical alteration of expiry date on products to deceive wholesalers and retailers. This was disclosed recently by the General Manager, Lagos State Consumer Protection Agency (LASCOPA), Mrs Kemi Olugbode, during the mediation meeting with officials from Mophet Pharmaceutical

Economy

Cleric urges FG to provide more jobs for youths

Ihesiulo Grace 30 September 2019 0

Abuja – Rev. Dealyn George, the Regional Overseer, Abuja Regional Headquarters of the Apostolic Faith Church, has urged the Federal Government to provide more jobs for youths in the country. George said Sunday in Abuja that the problems of the country woud be drastically reduced if the youths are taken care of. “The government needs […]

Economy Politics

Nigeria @ 59: Nigeria yet achieve her potentials for greatness – Nnamani

Ihesiulo Grace 30 September 2019 0

Chairman of the Senate Committee on Cooperation and Integration in Africa/NEPAD, Senator Chimaroke Nnamani has said that most African nations, Nigeria is yet achieve her potentials for greatness envisaged at independence which she attained through fierce battles, sweat and blood, many decades after. Just as he tasked leaders to address the problems of poverty, ignorance

Business Economy Politics World

UNGA:We need private investment in power sector -LASG

Ihesiulo Grace 25 September 2019 0

The Lagos State Government has called on private investors to assist the state in the provision of 9,000 megawatts to enable it transform the economy of the state. Gov. Babajide Sanwo-Olu made the call at the Corporate Council on Africa Forum on the sideline of the ongoing 74th Session of the United Nations General Assembly […]

Banking Business Economy Money Money Tech

Penchant for cash transactions, bane of digital payment system – eTranzact DMD

Ihesiulo Grace 20 September 2019 0

The Deputy Managing Director (DMD), eTranzact International Plc., Hakeem Adeniji-Adele, has identified the Nigerian culture and penchant for cash transaction as the bane of digital payments in the country. He made the assertion as the latest figures from the Nigeria Inter-Bank Settlement System (NIBSS), which put the total value of transactions on automated teller machines

Agriculture Banking Business Economy

BIPC to empower women, youths to create wealth, says MD

Ihesiulo Grace 20 September 2019 0

These include the provision of small and medium scale loans through the company’s micro finance bank, agricultural activities as well as an annual talent hunt show in partnership with the Board of Internal Revenue Service (BIRS). Adum, also appealed to the Benue state Governor, Samuel Ortom to review the agreement between the state and the […]

Business Economy

Over 100,000mt of cargoes, 13 ships to hit Warri ports

Ihesiulo Grace 20 September 2019 0

Over 100,000 metric tons of both dry and wet cargoes will be received at the Warri ports signalling sustained business activities at the port, which has remained unpatronised in the past. Warri port appears to sustain the improved activity that set in July, as no less than 13 ships laden with over 100,000 metric tons […]

Business Economy Money Money Oil & Gas

Excess Crude Account hits all-time low at $274.583m

Ihesiulo Grace 20 September 2019 0

Nigeria’s Excess Crude Account has been depleted to an all-time low of $274.583 million, which is believed not adequate to sustain the country in a stormy financial shock should oil prices fall below the budget benchmark. The Honourable Minister of State for Budget and National Planning, Zainab Ahmed, disclosed this while reporting to the National […]

Crime Economy

Update: P&ID $9.6bn scandal: court remands ex-director in prison

Ihesiulo Grace 20 September 2019 0

The National High Court of the Federal Capital Territory in Abuja, on Friday, ordered the imprisonment of a former Director, Legal Services of the Ministry of Petroleum Resources, Mrs. Grace Taiga, over the offences connected with the controversial P&ID $9.6bn judgment. Justice Olukayode Adeniyi ordered that the defendant be remanded in the Suleja Prison in […]