Economy
-
Naira moves from overvalued to undervalued after foreign exchange reform
Following the long-awaited foreign exchange reform implemented by the Nigerian government, the Nigerian naira has undergone a significant transition from being overvalued to undervalued, as reported by Businessday. Analysts from US-based Bank of America shared their insights in a note to clients on June 28. “We now see a USDNGN fair value of 680 per USD (previously 580). However, USDNGN…
Read More » -
Gbenga Adebija joins USAccelerator company
Gbenga Adebija has joined USAccelerator, a US-based professional service company that advises and supports international businesses on their entry and acceleration of market growth in the United States. Matthew Sawyer, Founder of USAccelerator and Adjunct Professor at Columbia University, New York, said: “Gbenga Adebija brings business leadership and multicultural communication expertise to the USAccelerator team in accordance with our mission…
Read More » -
Afreximbank, Al Mahaliya sign Euro19.6m financing agreement for dairy processing
The African Export-Import Bank (Afreximbank) and Al-Mahaliya Inc. of Mauritania have signed a Euro19.6 million financing agreement for the development of a 100-metric tonnes per day dairy processing and bottling plant in Nouakchott, Mauritania. Signed on the sidelines of the 30th Afreximbank Annual Meetings (AAM2023), which ended in Accra, Ghana last week, the agreement is expected to boost the local…
Read More » -
Danbatta bags platinum award for NCC’s performance
Executive Vice Chairman of the Nigerian Communications Commission, NCC, at the weekend in Lagos, lifted the Platinum Award of the Nigeria Academy of Engineering (NAEng.) being a reward for his leadership of the nation’s telecom regulator for its contributions to the development and growth of engineering profession in the technological and economic development of the country. President of the Academy,…
Read More » -
Acting CG drives innovative projects for enhanced Customs efficiency
In a bid to unlock the full potential of the Nigeria Customs Service (NCS), Acting Comptroller-General (CG) Adewale Adeniyi has spearheaded innovative projects that promise to revolutionize customs practices. This was disclosed in a statement National Public Relations Officer of the Nigeria Customs Service Abdullahi Maiwada. According to the statement, the projects are with a strong emphasis on collaboration, engagement…
Read More » -
Tinubu applauds AfDB’s $520m investment IN agro industries
President Bola Ahmed Tinubu has welcomed an investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB), praising the leader of the multilateral institution, Dr Adewunmi Adesina, for further opening up the economy for investments that provide job opportunities and reduction in poverty. Receiving Dr Adesina after the two-day summit on A New Global Financing Pact…
Read More » -
Afreximbank gets Fitch’s ‘BBB’ rating affirmation, agency says outlook stable
By Bolaji Adebiyi in Accra, Ghana African Export-Import Bank’s Long-Term Issuer Default Rating’s ‘BBB’ rating with a stable outlook has been affirmed by the global rating agency, Fitch Ratings. Fitch also affirmed Afreximbank’s Short-Term Issuer Default Rating at ‘F2’ and the Long-Term ratings on the Bank’s Global Medium Term Note Programme and Debt Issuances at ‘BBB’. The rating affirmation is…
Read More » -
Multiple taxation: FIRS partners with market association on VAT remittances
The Federal Inland Revenue Service (FIRS) has entered into partnership with Market Traders Association of Nigeria (MATAN) to collect and remit Value Added Tax (VAT) from the markets, especially in the informal sector. The association, which has a membership of well over 40 million across the country’s 774 local governments, and 36 States plus the Federal Capital Territory is the…
Read More » -
Afreximbank introduces single window for digital services
…launches Africa Trade Gateway By Bolaji Adebiyi in Accra, Ghana As part of its efforts to deliver on its mandate of providing critical services to support and promote African trade and the implementation of the African Continental Free Trade Agreement, the African Export-Import Bank in collaboration with the AfCFTA has launched the Africa Trade Gateway. The ATG, which was rolled…
Read More » -
NEITI to conduct study on accurate daily petrol consumption in Nigeria
The Nigerian Extractives Industries Transparency Initiative (NEITI) says there is no credible data to ascertain the daily consumption of petrol in Nigeria. Orji Ogbonnaya Orji, its executive secretary, said the agency will conduct a study to ascertain the accurate fuel consumption in the country. The NEITI executive secretary spoke on Monday at the stakeholders validation workshop on the 2022 Annual…
Read More »
Follow our WhatsApp Channel