Indications emerged on Tuesday that Nigeria Sovereign Investment Authority (NSIA) is making moves to takeover some of the key under-performing government assets, including uncompleted power plants, in its ongoing plans to broaden the scope of its investment management roles. Reuters quoted the authority’s Managing Director, Uche Orji, as saying that the plans to take over […]
Investment experts at Bancorp Securities Limited, a leading investment research and service providing company in Nigeria, have projected that investors will tread cautiously in their decisions this week regarding the equities market amid risk off sentiment. Despite the not too rosy outlook of the market, the firm in its ‘Weekly Stock Recommendations: Jun 20th – […]
The Nigerian Communications Commission (NCC) has signed a Public Private Partnership (PPP) agreement with its consultant, 3R Company Nigeria Limited, for the execution of the Revenue Assurance Solutions (RAS) to strengthen and manage the integrity of revenue generation process in the Nigerian telecommunications industry. The agreement signing ceremony, which took place at the Commission’s Head […]
The International Air Transport Association (IATA) has accused Nigerian government of stalling the repatriation of $450 million in revenue by international carriers operating in the country. The association’s Vice President for Africa and the Middle East, Kamal Al Awadhi, was quoted by Reuters as describing talks with Nigerian authorities to release the funds as a […]
The National Bureau of Statistics (NBS) has reported that the aggregate Value Added Tax (VAT) collection stood at N588.59 billion in the first quarter of 2022, representing a quarter-on-quarter growth of 4.41 percent over the N563.72 billion raked in from the revenue source in Q4, 2021. The statistics agency in its report ‘Sectorial Distribution of […]
The International Monetary Fund (IMF) has said that efforts to address Nigeria’s merchandize trade imbalances are not achieving the desired results due to Foreign Exchange (forex) strains relating to exchange rate premiums in the nation’s parallel market. The Fund made this disclosure during its staff meetings with the Nigerian authorities from June 6-10, 2022, to […]
Nairalytics, a leading research firm, has reported that the Asset Management Corporation of Nigeria (AMCON) received a sum of N125.9 billion from 12 commercial banks listed on the Nigerian stock market as part of the Sector Resolution Funds in the first quarter of 2022. The Sector Resolution Fund is part of the requirement of the […]
African Export-Import Bank (Afreximbank), one of Africa’s multilateral finance institution, has advocated the need for increase in intra-African trade and financing based on the continent’s abundant youth and technology resources. The President/Chairman of the Board of Directors of the bank, Prof. Benedict Oramah, gave this charge to African governments in his opening remarks during the […]
The Swiss National Bank on Thursday raised its policy interest rate for the first time in 15 years in a surprise move, saying it is ready to hike further based on emerging inflationary trends in the global economic system. With the latest monetary policy stance, the Swiss Bank has joined other central banks in tightening […]
…as broadband penetration hits 42.79% The Minister of Communications and Digital Economy, Prof. Isa Pantami, has told the global digital community that Nigeria is recording phenomenal growth in its Information and Communication Technology (ICT) industry, thus enabling socio-economic development in Nigeria and across the African continent. The minister gave this hint during the tea break […]