Economy
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Only vision can limit Nigeria from becoming digital economy world leaders – Osinbajo
Vice President Yemi Osinbajo, SAN, says that Nigeria as a country has the requisite talents, creativity and acumen to become a world leader in the digital economy.He stated this on Monday at this year’s Nigeria Digital Economy Summit (NDES) with the theme “Web 3.0, Blockchain & DeFi: Impact on Africa’s Digital Economy.”He observed that with the right approach and policy,…
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SEC Nigeria, Ghana commit to strategic co-operation, market development
In a bid to encourage market integration and provide better opportunities for economic prosperity of Nigeria and Ghana, the Securities and Exchange Commissions (SEC) of both countries have signed a renewed Memorandum of Understanding (MOU). Speaking during the signing ceremony in Accra weekend, Director General of the SEC Nigeria, Mr. Lamido Yuguda recalled that both countries had enjoyed a long…
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Ex-NIPOST boss denies fraud allegations
Former Postmaster General of the Federation, Dr Ismail Adewusi had denied fraud allegations against him. Adewusi was recently suspended and replaced as Postmaster General by Minister of Communications and Digital Economy, Isa Pantami. The former NIPOST boss in a statement he released on Monday which was made available to WesternPost said while he wouldn’t comment on his removal from office,…
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Unprecedented shocks rattle South Asia, dampening growth, says World Bank
Beset with Sri Lanka’s economic crisis, Pakistan’s catastrophic floods, a global slowdown, and impacts of the war in Ukraine, South Asia faces an unprecedented combination of shocks on top of the lingering scars of the COVID-19 pandemic. Growth in the region is dampening, says the World Bank in its twice-a-year update, underscoring the need for countries to build resilience. Released…
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At 3.23% decline, equities market posts worst day since 2020
The equities market of the Nigerian Exchange Limited (NGX) continued its losing streak as the All-Share Index plunged 3.23per cent, the most in a single day since 12 March 2020, to close at 47,259.27 basis points – the lowest level in almost six months (12 April). Selloffs in the two NGX-listed telecom stocks, Airtel Africa Plc (-10.00per cent), which suffered…
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Citizens’ right to demand accountability, subject to compliance with tax obligations – FIRS
The moral right of citizens to demand accountability from government on what their taxes have been used for, is dependent on when citizens have themselves heeded to their civil obligations to pay taxes. This was the position of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami during the unveiling of the FIRS Service Charter on Tuesday…
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Over 600m people will struggle on less than $2.15/day by 2030, says World bank
Nearly 600 million people will struggle on less than $2.15 per day by 2030, according to a new World Bank study. According to the report, the world is unlikely to meet the goal of ending extreme poverty by 2030 absent history-defying rates of economic growth over the remainder of this decade. The study finds that COVID-19 dealt the biggest setback…
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M/East, N/African economies grow by 5.5% as benefits are uneven, says report
The economies of the Middle East and North Africa (MENA) region are expected to grow by 5.5per cent this year —the fastest rate since 2016—followed by a slowing of growth to 3.5 per cent in 2023. Yet this growth is uneven across the region, as countries, still struggling to overcome the lasting effects of the COVID-19 pandemic, face jolting new…
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NGX All-Share Index declines further by 0.09%
The bears continued the domination of the stock market of the Nigerian Exchange Limited (NGX) as the All-Share Index (ASI) extended losses for a second consecutive session, falling by 0.09per cent to settle at 48,836.70 basis points. The market’s weak performance was driven primarily by extended selloffs in Tier-1 banks, Zenith Bank Plc (-1.55per cent), GTCO (-1.70per cent), FBN Holdings…
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Buhari appoints Aminu Umar-Sadiq as CEO of NSIA
President Muhammadu Buhari has approved the appointment of Aminu Umar-Sadiq as the Managing Director and Chief Executive Officer (MD/CEO) of the Nigeria Sovereign Investment Authority (NSIA). Special Adviser, Media & Communications to the Finance Minister, Yunusa Tanko Abdullahi in a statement also disclosed that Buhari also appointed Kolawole Owodunni and Bisi Makoju as executive directors. The appointment of the new MD/CEO…
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