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The Federal Competition and Consumer Protection Commission (FCCPC) is poised to enact a new wave of regulations within Nigeria’s digital lending space, targeting the surging defaults plaguing the sector. In a recent…
Category: Business and Economy
Explore the intricate landscape of “Business and Economy” through our News category. Delve into the realms of commerce, finance, entrepreneurship, and market trends. From insightful analyses of global economic shifts to guidance for small business owners, this category offers a comprehensive resource hub for individuals interested in understanding the dynamics that drive our financial world.
House of Reps Moves To Revive Nigeria-China Currency Swap Deal
The House of Representatives has taken decisive steps towards the revival of the Bilateral Currency Swap Agreement (BCSA) between Nigeria and China. The lower chamber, during its plenary on Wednesday, unanimously agreed…
CBN Urges Banks & PoS Operators to Halt Cash Disruption Activities
The Central Bank of Nigeria (CBN) has raised a red flag concerning the availability of cash due to reported irregularities between certain Deposit Money Banks and Point-Of-Sale (PoS) operators. The apex bank…
Port Harcourt Refinery Resumes Operations – FG
In a long-awaited move, the Nigerian government confirmed the reactivation of the Port Harcourt Refining and Petrochemical Company in Rivers State. This announcement came on Thursday, marking the commencement of operations on…
Shoprite to shutdown January 14, 2024
Shoprite, a prominent grocery chain in Nigeria, is set to close its sole outlet at Ado Bayero Mall in Kano State on January 14, 2024. The decision, communicated to employees on December…
Mbah inaugurates rice, cashew processing centres
…as Enugu ALGON hails projects, enjoins youths to embrace farming Governor Peter Mbah of Enugu State has commissioned multiple rice and cashew centres, including poultry clusters across the three senatorial zones in…
South East peace project as catalyst for “aku ruo Ulo”
IT IS important to understand the meaning of this phrase to fully grasp the persuasive nature of this call to action, which urges the Igbos to start thinking about bringing their wealth back to their homeland, Alaigbo. The phrase ‘Aku ruo Ulo’ is an Igbo expression that means: “let’s bring our wealth home”.
$30bn GDP: Igbo captains of industry embrace Gov. Mba’s economic blueprint
Captains of industry and prospective investors of South-East extraction have expressed their readiness to key into the investment and economic growth plans of the Dr. Peter Mbah-led Enugu State government. They expressed…
Nigerian Breweries Inks Agreement with Daystar Power for 4.2MWp Solar Plant
Nigerian Breweries have partnered Daystar Power for a 4.3 MW solar plant in Lagos. Daystar will handle a 4.2 MW solar setup with a 2 MWh battery. This project is a big…
CBN Directs Continued Acceptance of Old, Redesigned Naira Banknotes
The Central Bank of Nigeria (CBN) has issued a directive to its branches and deposit money banks (DMBs), mandating the continued acceptance and issuance of all denominations of Nigerian banknotes, including both…
President Tinubu Unveils N27.5 Trillion Budget of Renewed Hope
President Bola Tinubu made a defining mark on Wednesday as he presented the highly anticipated N27.5 trillion 2024 budget proposal to the joint session of the 10th National Assembly in Abuja. This…
FG Adjusts 2024 Budget to N27.5 Trillion, Eyes Economic Realities
In response to prevailing economic conditions, the Federal Government has revised its 2024 budget proposal, increasing it from the initial N26 trillion to N27.5 trillion. The adjustments were announced by the Minister…
Nigerian Banks Engage in Merger Talks Amidst Capital Base Expansion Plans
Executives from top banks in Nigeria have initiated discussions surrounding potential mergers and acquisitions. Larger banks are eyeing weaker institutions for possible acquisitions, while middle-strength and weaker banks are exploring alliances that…
CBN Shakeup: Eight Directors Redeployed Amid Staff Concerns
The Central Bank of Nigeria (CBN) has witnessed a significant shakeup, with eight directors being redeployed to the Financial Sector Surveillance (FSS) Department in Maitama, sparking concerns among employees about potential further…
This award will cement the blossoming relationship between Shell Companies in Nigeria and ESUT – MD SPDC
The Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, yesterday, said that the conferment of Honorary Doctorate degree in Business Administration on him, by the Enugu State University of Science and Technology, ESUT, would further cement the blossoming relationship between Shell Companies in Nigeria and the Institution.
NLC, TUC to commence strike Nov. 14
On Monday, the Nigeria Labour Congress and the Trade Union Congress of Nigeria directed their affiliates to cease operations nationwide starting from midnight on November 14, 2023. TUC President Festus Osifo conveyed…
Poverty would be reduced if MSMEs are stimulated – NACCIMA
The National President, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, Otumba Dele Oye, on Saturday said that stimulating Micro, Small and Medium Enterprises, MSMEs, would reduce poverty to the barest minimum in Nigeria.
Old and New Naira Notes Remain Legal Tender, Says CBN
The Central Bank of Nigeria (CBN) has confirmed that both old and redesigned naira banknotes are legal tender in the country and should not be rejected by anyone. The CBN’s Director of…
Barr. Otoboeze for investiture as 2nd NSCCIMA President Nov. 11
Nsukka Chamber of Commerce, Industry, Mines and Agriculture, NSCCIMA, has scheduled Saturday, November 11, 2023 for investiture on its second President, Barr. Sam Otoboeze.
Crude Shortages Hamper Nigerian Refineries, Dangote’s Mega Project
In a huge setback for Nigeria’s ambitious plans for petroleum product self-sufficiency, the country’s domestic refineries, notably the high-profile Dangote Refinery, are experiencing production delays due to insufficient crude oil supply. The…