The Nigerian Employers’ Consultative Association (NECA) has commended the recent measures adopted by President Bola Tinubu-led administration to create enabling business environment in Nigeria through strategic tax reforms. The association’s Director-General, Mr. Adewale-Smatt Oyerinde, gave the commendation in a statement issued on Thursday following the signing of four executive orders by the President. The Director-General stated: “In this context, […]
African and global institutional investors have signed the agreement on the new $500 million Africa50 Infrastructure Acceleration Fund, the first private vehicle infrastructure platform launched by Africa50. The collaboration, which is described as an unprecedented milestone for Africa, brings together a diverse group of influential stakeholders from Africa comprising 17 African shareholders—including sovereign wealth funds, […]
Deposit Money Banks (DMBs) in Nigeria have started adjusting the daily maximum cash withdrawal limit of individual customers on automated teller machines (ATMs) to N200,000, following several weeks of complaints by depositors over difficulties in doing business transactions based on the limit. The Central Bank of Nigeria (CBN) had, had as part of its Naira […]
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has described the recent interventions by the Federal Government on some recent tax changes as part of its efforts to mitigate tax burdens on businesses nationwide. The President of the organized private sector (OPS) group, Barrister Dele Kelvin Oye, in a statement issued […]
In a move to strengthen existing collaboration and enhance the understanding of the opportunities and challenges associated with the integration of capital markets in the West African region, the West African Monetary Institute (WAMI) is set to host a capacity building/sensitization programme on West African Capital Markets Integration (WACMI) Phase II Project. Speaking on the […]
Encouraged by the current reforms and competition among exchanges in global financial markets, the Nigerian Exchange Limited (NGX) has disclosed that it is working with the Central Securities Clearing System (CSCS) Plc and other stakeholders to reduce the settlement cycle from T+3 to T+1 over the next few years. This is even as the Exchange […]
Latest reports on Liquefied Natural Gas (LNG) export into the global market indicated that Nigeria recorded a huge shortfall in her export volume in 2022 as challenges in domestic natural gas production and feedstock at export facilities undermined the country’s capacity for production of hydrocarbon resources. Specifically, the reports indicated that LNG exports from Nigeria […]
…..Says sector contributes N10.126Trn to GDP in 2022 The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has announced that investments in the nation’s telecommunications sector, comprising foreign direct investment (FDI) and domestic component, grew to $75.6 billion as of the end of 2021. Danbatta disclosed this at an interactive […]
BudgIT has launched its States Fiscal Transparency League (SFTL), an initiative which builds on the recently concluded World Bank’s State Fiscal Transparency, Accountability, and Sustainability (SFTAS) Programme, designed to promote fiscal transparency and facilitated accountability in public resource management. It would be recalled that the World Bank developed SFTAS (States Fiscal Transparency, Accountability, and Sustainability), […]
Meta Platforms on Wednesday launched Threads, a new app that is introduced to give direct challenge to Twitter, garnering millions of users in hours as it sought to take advantage of its rival’s much-weakened state after a series of chaotic decisions from owner Elon Musk. Reuters reports that those quick to join the new platform […]