Director General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has disclosed that the aim of the West African capital markets integration programme is to create enabling environment for cross-border securities transactions and the integration of all capital markets jurisdictions in the Economic Community of West Africa States (ECOWAS) sub-region. Yuguda made […]
….As Nigeria tops private equity/ venture capital investment ranking chart The European Investment Bank (EIB) in its latest annual survey of banks in Africa titled ‘Finance in Africa in 2022: Navigating the Financial Landscape in Turbulent Times’, has identified asset quality deterioration amongst the major challenges facing lenders in the continent. The EIB report […]
The Director-General of the International Labour Organization’s (ILO), Gilbert Houngbo, told delegates at the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) to preventing scarring and protect the most vulnerable by increasing minimum wages and guaranteeing social protection benefits. A statement from the global labour organization on Thursday […]
A news report from the British Broadcasting Corporation (BBC) on Thursday indicated that the newly elected British Prime Minister, Liz Truss, had resigned barely 45 days in office. BBC quoted a statement outside Downing Street as her resignation was due to her inability to deliver the mandate she was elected and that she had notified […]
Following media reports that Mobile Network Operators (MNOs) in the country had unilaterally revised upward tariffs on voice and data services, the Nigerian Communications Commission (NCC) has directed the operators to immediately reverse the tariff adjustments. The industry regulator, through a letter sent on the 12th of October 2022 to the MNOs stated that it […]
As part of its fiscal measures to address lingering crisis in the nation’s tertiary institutions, the Federal Government on Wednesday disclosed that it provided N470 billion special fund for university revitalisation and upward adjustment of lecturers’ salaries in the 2023 Appropriation Bill now before the National Assembly. The Minister of Finance, Budget and National Planning, […]
The All Share Index of the Nigerian Exchange (NGX ASI) decreased by 2.31% to 44,318.15 points against the previous close of 45,366.32 following sustained sell-off in AIRTELAFRI and a few other stocks. As expected, the market’s Year-To-Date (YTD) return also weaken to 3.75% even as the Market Capitalization closed at N24.139 trillion against the previous close of N24.710 trillion. Similarly, […]
The Naira, Nigeria’s currency, depreciated in value against the US dollar at the black market in the early hours of Wednesday and traded at N743/$1, indicating a slight depreciation of 0.13% from N742/$1 it traded on Tuesday. According to information from black market traders on the market’s trend in the early hours of the day […]
President Muhammadu Buhari on Wednesday signed the Nigeria Startup Bill (NSB) into law. The bill, which was a joint initiative of Nigeria’s tech startup ecosystem and the Presidency, aimed at harnessing the potential of the country’s digital economy through co-created regulations, had earlier been passed by the Senate and House of Representatives in July this […]
Nigeria’s Vice President, Prof. Yemi Osinbajo on Tuesday disclosed that 4G coverage increased from 23% to 77.52% nationwide even as the nation’s broadband coverage had also surged from 33.7% to 44.65% over the past 2 years. Osinbajo made this disclosure during the 3rd Ministerial Performance Review Retreat in Abuja while appraising improvements recorded by the […]