Import Duties Evasion: MDAs, Others Under Fire
Worried by the rising evasion of import duties and tariffs by some Ministries, Departments, and Agencies (MDAs) who collude with…
Nigeria’s Buhari Signs Bill To Overhaul Oil Industry Into Law
Nigerian President Muhammadu Buhari signed into law long-awaited legislation to overhaul the oil and gas industry in Africa’s biggest crude…
Nigerian Stocks Hit 14-Week High Amid Investors’ Wild Scramble For Shares Of Flour Makers
Nigerian stocks jumped 0.08 per cent on Friday, taking the benchmark index to 39,522.34 basis points, a height last reached…
Loss Of FDIs To Neighbours Worry Manufacturers As Challenges Linger
As prevailing economic challenges undermine investments and disposable incomes, local manufacturers have expressed concerns about the loss of investments to…
Sterling Slips As Global Markets Turn Cautious
The British pound slipped in early trading on Monday, hurt by a fall in risk appetite globally, after economic data…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Nigeria’s Inflation Rate Projected To Drop To Single Digit In 2022 – CBN Official
The Central Bank of Nigeria has said that Nigeria’s inflation rate may drop to single digit in 2022. The apex bank’s Director…
Rewane – How Nigeria Can Attract More Foreign Direct Investments
A member of the President’s Economic Advisory Council and Managing Director, Financial Advisory Council, Mr. Bismarck Rewane, in this interview provides…
Foreign Reserves Resume Decline After Rising To $33.59bn
The foreign exchange reserves in Nigeria have started declining again after rising to $33.59bn, the highest level in more than…
Meet The Nigerian Artist Illustrating The Human Experience With A Ballpoint Pen
From a distance, Jacqueline Suowari’s larger-than-life portraits look like monochromatic photographs overlaid with colorful graphics. Upon closer inspection, you see…
In 5 Days, I&E FX Turnover Jumps 0.5% To $681m
Last week, the total value of transactions recorded at the Investors and Exporters (I&E) window of the foreign exchange (FX)…
Finnfund Backs Telecom Infrastructure Provider With Debt
Finnish development finance institution Finnfund is backing Bandwidth and Cloud Services Group (BCS), a telecom infrastructure provider that operates in…
Pearl Capital Invests Mix Of Debt And Equity In Cassava Processor
Yield Uganda Investment Fund, an agribusiness impact vehicle managed by Pearl Capital Partners, has committed $2.5 million to Pura Organic…
International FC Mulls Participation In Brimore’s Upcoming Series A Round
Egypt-based ecommerce startup, Brimore, is preparing to raise more funding to strengthen its business in Egypt after receiving a $3.5…
International Investors Lead F Intech Startup Moove’s Series A
Moove, Nigerian based mobility fintech startup raises $23m Series A funding to help it expand swiftly. Founded in 2019 by…
Old Mutual’s ULIMI Fund Invests In Malawian Macadamia Producer
ULIMI Fund, a private equity fund managed by Old Mutual Investment Group Malawi, has made an undisclosed amount of investment in…
Investment In Data Centre To Hit $174bn By 2023 — Schneider Electric
Schneider Electric, weekend, disclosed that investment in the data centre would hit $174 billion by 2023 following increasing demand. The…
81% Of Women Entrepreneurs In Middle East, Africa Own Digital Businesses
Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA)…
Investors Chart Roadmaps For Federal Government Of Nigeria To Improve Non-Oil Sector’s Revenue Drive
LAGOS – Investors in the nation’s economy have called on the Federal Government to consider reform for key non-oil sectors of…
Nigeria Recorded $85.21bn Net Foreign Liabilities – IMF
Nigeria’s foreign liabilities stood at $187.36bn while the country’s foreign assets amounted to $102.15bn as of December 2020, the International…
Conglomerate Income Taxes Rise By 273 Per Cent Year-On-Year
Company income tax (CIT) realised in the second quarter (Q2) stood at N1.46 billion, up from N0.39 billion realised the…
Securities Dealers To Discuss Market Recovery Strategies
Securities dealers in Nigeria have concluded arrangements to review strategies to reactivate the nation’s economic growth and development at a forum…
Stock Market Investors Gain N371bn In One Week
THE equities listed on the Nigerian Exchange Limited saw its their market capitalisation rise by N370.75bn last week amid bullish…
Dollar Holds Firm Near 4-Month High, Retains Weekly Gains On Fed Bets
The dollar held firm on Friday, staying near its highest level in four months against a basket of currencies as…
APMDC Counters Shippers’ Council Over Claims Of Arbitrary Charges
The Associated Port Marine Development Company has denied allegations of arbitrary charges and charging in foreign currency levelled against it…
Thai Baht Gains Among Muted Asian Currencies; S.Korea’s Won Slips
Thailand’s baht edged up among mostly muted Asian currencies on Friday, after a short-lived retreat in the dollar this week…
Crypto Platform Poly Network Rewards Hacker With $500,000 ‘Bug Bounty’
Poly Network, the cryptocurrency platform which lost $610 million in a hack earlier this week, confirmed on Friday it had…
U.S. House Members Introduce Bill Targeting Apple And Google App Stores
A Republican and a Democratic member of the U.S. House of Representatives introduced a bill aimed at reining in powerful…
Port, Shipping Firms Divert Vessels After A Ningbo Terminal Shuts
Ports and shipping companies are diverting vessels from a container terminal in China’s busiest marine transportation hub which was forced…
Tesla’s Musk Hopes To Make First Cars At Berlin Plant In Oct
Tesla (TSLA.O) hopes to make the first cars at its “Gigafactory” in Gruenheide, near Berlin, in October or soon afterwards, Chief…