Economy Opinion

The CBN/MTN fine: The gift that keeps on killing

Ihesiulo Grace 18 September 2018 0

By Yakubu Abubakar The nation has watched stupefied as allegation after allegation have been thrown at telecommunications giant, MTN Nigeria over the last few weeks. Some have vehemently insisted that the travails of the company began a few months earlier when ‘well-meaning’ officials of the

Analysis Economy

Nigeria’s vibrant business landscape – The case of an arid rainforest

Ihesiulo Grace 5 September 2018 0

By Ikemesit Effiong   Indeed, Nigeria might be in the throes of a regulatory perception problem. The latest confirmation of this issue comes from the rather puzzling decision by the country’s central bank to sanction Africa’s biggest telecom firm MTN Nigeria and four banks for what it called the “illegal repatriation” of $8.1 billion from […]

Capital Market Economy

Pension operators celebrate Multi-Fund Structure as it rings NSE Closing Gong

Ihesiulo Grace 24 July 2018 0

The Pension Funds Operators Association of Nigeria (PenOp) was recently honoured by the Nigerian Stock Exchange with the invitation to ring the Closing Gong on the Trading Floor on Tuesday, 17th July 2018. The two organisations who are among the strongest players in the Nigerian financial sector met to discuss partnership opportunities and ways in […]

Analysis Economy Law

NEM Insurance and the case for effective corporate governance in Nigeria

Ihesiulo Grace 3 July 2018 0

Nonso Okpala, the Managing Director/CEO of VFD Group Limited, a company that seeks to implement a long-term investment strategy on June 28, 2018, wrote an article titled ‘NEM Insurance Plc’s 48th AGM and Associated Governance Issues’. The article succinctly points out the modern hindrances to a long-term strategic approach to corporate governance and investment holding.

Economy Law

Paul Usoro: FG should ‘rigorously pursue’ modernisation of Nigerian agriculture

Ihesiulo Grace 21 June 2018 0

Nigerian Bar Association presidential aspirant, Paul Usoro SAN says in order for Nigeria to metamorphose into an agro-industrialised economy, the federal government should at all levels rigorously push for and apply policies channelled towards improving the focus on agro-industries. READ MORE: Paul Usoro: Rethinking the Nigerian Bar Association’s governance structures In a

Business Economy

Who Really has the largest economy in Africa?

Ihesiulo Grace 11 March 2018 0

President Muhammadu Buhari recently presented the country’s 2018 budget at the National Assembly. It was Nigeria’s biggest budget in terms of size. Yet, it was “meagre” when compared with the budget of other major countries in AFrica Nigeria- $23 billion, South Africa – $116 billion Angola – $124 billion, Algeria – $53

Analysis Economy Money Money Top Stories

Doomsday approaches: National Assembly stall NFIU decision, Nigeria credit ratings downgrade looming

Ihesiulo Grace 22 February 2018 0

As concerns mount over the expulsion of Nigeria by the Egmont Group of Financial Intelligence Units next month, international credit rating agencies are mulling the downgrade of Nigeria’s credit ratings according to international risk analysts. Since reports surfaced that the Egmont group was going to expel the NFIU from the global body, the ratings agencies […]

Business Economy

Lagos-Kano Economic Summit: Buhari, Sanusi, Jega lead discussants

Ihesiulo Grace 14 February 2018 0

…governance, security, infrastructure, education, others top agenda President Muhammadu Buhari is among dignitaries listed to discuss the strategic importance of collaboration among key institutions to national development at the first Lagos-Kano Economic and Investment Summit. The summit, which is scheduled to hold at the Jubilee Chalets, Epe, Lagos, between February 28

Economy

Research Institutes’ strike affecting Nigeria’s agric. sector – Experts

Ihesiulo Grace 29 January 2018 0

The Provost, Federal College of Agriculture, Ibadan, Dr Babajide Adelekan says strikes in agricultural research institutes affects the research and food production of the country. In an interview with the News Agency of Nigeria (NAN), in Ibadan on Monday, Adelekan said this would hinder the food security programme of the government. NAN reports that the […]

Economy

FAAC distributes N655.177bn to FG, States, LGAs

Ihesiulo Grace 24 January 2018 0

The Federal Account Allocation Committee (FAAC) has shared a whopping N655.177 billion to the three tiers of government being the monthly allocation for the month of December 2017. Chairman of FAAC and Minister of Finance, Mrs Kemi Adeosun who announced the figures on Tuesday, said that the gross statutory revenue of N540.446 billion received for […]

Economy

Global income inequality declines from 68 to 62 – IMF

Ihesiulo Grace 24 January 2018 0

The International Monetary Fund (IMF) has said that the Global Income Inequality has declined in recent years, indicating perfect equality dropping from 68 in 1988 to 62 in 2013. According to the IMF, this decline reflects relatively strong growth in many emerging and developing economies, particularly in China and India. With the Gini index – […]

Economy

Our economy is performing better in 2018 – Udoma

Ihesiulo Grace 14 January 2018 0

The Nigerian economy will be significantly better in 2018 going by the consistent positive trend of key economic indicators since the country exited recession in the second quarter of last year. Minister of Budget and National Planning, Senator Udoma Udo Udoma, stated this at the 2018 Economic Outlook Forum of the Redeemed Christian Church of […]

Business Economy

France invested N150 billion in Nigeria in 2017 – Official

Ihesiulo Grace 2 January 2018 0

Modupe Irele, Ambassador of Nigeria to France on Tuesday announced that France invested about N150 billion(350 million euros) in Nigeria in 2017. Irele told the News Agency of Nigeria in Lagos that the amount was disbursed as soft loans to the federal and state governments, as well as the private sector. “It is estimated that […]

Business Economy

Economy: Lagos records N50bn cash transaction increase in four weeks

Ihesiulo Grace 28 December 2017 0

The Lagos State economy has received a major boost, as spending in the creative sector records an estimated N50billion cash transactions in the first three weeks of December, according to reports monitored by the Lagos State Government. The peak in entertainment activities and the huge influx of people from neighboring states and the Diaspora on […]

Economy

More French firms to invest in Nigeria

Ihesiulo Grace 14 December 2017 0

A delegation of the Movement of French Business (MEDEF), the first network of entrepreneurs in France, on Wednesday said that Nigeria would continue to attract more French companies. Phillip Labonne, The Head of the Delegation, according to NAN, said at a news conference in Lagos that Nigeria would continue to be a land of investment […]

Economy

Nigeria govt to release another N750bn capital vote

Ihesiulo Grace 12 December 2017 0

Nigeria’s federal government is set to release another N750 billion to its ministries, departments, and agencies (MDAs) as part of the capital component of the 2017 budget. Kemi Adeosun, the country’s Minister of Finance, who made the disclosure Monday during a meeting with a delegation of investors from France, said the sum of N450 billion had […]

Economy

Expert warns Nigerian govt against under-valuing national assets

Ihesiulo Grace 11 December 2017 0

Boniface Okezie, a financial expert, has warned against under-valuing some national assets, including the National Theatre and Tafawa Balewa Square before selling them. The Federal Government has proposed selling off some key national assets to finance the 2018 budget. Okezie, who is also the President of the Progressive Shareholders Association of Nigeria, gave the

Economy

Nigeria’s FG to save N43 trillion from importation

Ihesiulo Grace 11 December 2017 0

Nigeria’s Federal Government has disclosed that it would be saving about N43 trillion in five years, from the importation of raw materials. Ogbonnaya Onu, Minister of Science and Technology made the revelation at the weekend in Lagos at the interactive session on the National Science, Technology and Innovation Roadmap (2017-2030) with staff of the agencies […]

Economy Top Stories

Nigeria’s debt stock hits N20.37tn

Ihesiulo Grace 14 November 2017 0

Nigeria’s total debt stock has hit N20.37tn, the Debt Management Office has said. In a statement made available to Punch correspondent in Abuja on Tuesday, the DMO said the total public debt stock comprising the Federal Government, the 36 states, and the Federal Capital Territory, stood at N20.37tn as of September 30. This shows a […]

Economy News

FG Recovers $64.6m Electricity Debt From International Customers

Ihesiulo Grace 14 November 2017 0

Nigeria’s Minster of Power, Works and Housing, Babatunde Fashola announced Monday that the country’s central Government had recovered 64.6 million dollars electricity debt from its international customers. The Minster announced this at the 21st monthly power sector meeting in Asaba. Fashola, in a text of his opening remark made available to the News Agency of