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Business and Economy

Forex: CBN wields big stick …bars erring banks from SME Wholesale Forex window …ban takes effect from May 2, 2017

  Following persistent complaints that some deposit money banks (DMBs) have deliberately frustrated efforts by many small and medium enterprises (SMEs) to access forex from the new window created by the Central Bank of Nigeria (CBN), the apex Bank on Tuesday, May 2, 2017, barred all but eight banks from …

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Ambode’s making life worth living worth living for Lagosians – Obasanjo … ICAN Award, crowning moment for my career, says Gov

Former President of Nigeria, Chief Olusegun Obasanjo on Friday evening showered encomiums on the Governor of Lagos State, Mr Akinwunmi Ambode for his administration’s programmes and policies at improving the lives of the people of the State. Speaking at the 2017 Annual Dinner and Awards of the Institute of Chartered …

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Benefits of cooperation in oil marketing and distribution among ECOWAS nations By Prof. Chijioke Nwaozuzu

    Prospects for economic growth are driven by energy consumption, which is dependent on availability, accessibility and affordability of the energy sources/resources. Statistics have shown that Sub-Saharan Africa countries are projected to grow in number at an average rate of 1.2%, leading to a population of about 500 million …

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CBN sells $25m in new FX window for investors, exporters … Dealers fail to subscribe fully to CBN’s $150m offer

  The Central Bank of Nigeria (CBN) on Tuesday, April 25, 2017, commenced interventions in the new Investors’ & Exporters’ FX Window with the sale of $25million to customers through authorized dealers. This was disclosed by the Bank’s spokesman, Isaac Okorafor, who reiterated that the window was established to boost …

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Power generation: FG partners ADB to fund coal initiatives ….as Minister urges investors to invest in Nigeria’s huge coal reserves

Determined to solve the power issue in the country, the Federal Government is to partner with the African Development Bank (ADB) to fund coal projects in the country. The Minister of Mines and Steel Development, Dr Kayode Fayemi, disclosed this during a meeting with stakeholders in the mining sector and …

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Africa moves against dumping of nuclear, toxic waste at sea ….AAMA 2017 delegates agree on collective fight against piracy, sea robbery ….Buhari promises to strengthen defense to safeguard maritime business.

In a concerted effort to ensure that African Oceans are not overexploited and also not seen as a dumping ground for dangerous materials, participating countries at the just concluded Conference of the Association of Heads of African Maritime Administrations (AAMA) have agreed on the need for Population, assets and critical …

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Additional 350 Sokoto women, youths get empowerment training

Over 350 women and youths have graduated from the skills acquisition programme organised by Sokoto state government under its citizens’ empowerment initiative.  The programme, coordinated by the state ministry of women and children affairs, followed the recent graduation of 2000 women from another empowerment initiative meant to enhance job creation …

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Adeosun engages G24 on tax revenue, inclusive growth, budget transparency .Calls for focus on non-oil revenue growth, tax compliance and budget accountability to drive sustainable economic development

The Minister of Finance, Kemi Adeosun, has met with fellow Finance Ministers at a meeting convened by the G24 Group to discuss strategies to drive non-oil revenue growth and achieve inclusive growth. Speaking after the meetings, the Minister said: “Revenue mobilization is critical to the success of Nigeria’s economic reform …

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We are reforming NIMASA for fresh direction in maritime industry – Buhari

President Muhammadu Buhari has described the rebranding of the Nigerian Maritime Administration and Safety Agency (NIMASA) as part of the Federal Government’s effort to enhance economic diversification and repositioning of the maritime sector as the country’s highest revenue earner in the very near future. President Buhari stated this while unveiling …

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