Economy
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Consider Lagos as destination of choice for investments- Sanwo-Olu tells UK
By Adeola Ogunrinde Lagos State Governor, Mr. Babatunde Sanwo-Olu, on Wednesday, implored foreign investors, particularly the business community in the United Kingdom to consider Lagos as a destination of choice for their investments. He said his administration will continue to make Lagos a destination of choice by ensuring a friendly business environment for investors. Sanwo-Olu said this during a courtesy…
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Content creators must register, pay taxes, says CAC
The Corporate Affairs Commission (CAC) has urged social media content creators, Instagram users, and TikTok users with large followers to register their businesses with the commission in accordance with the Company and Allied Matters Act 2020. This is coming amidst alleged plans by the Federal Inland Revenue Services to onboard media content and influencers into its tax system. The Registrar…
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UK, Nigeria sign landmark economic partnership
The United Kingdom (UK) has signed an Enhanced Trade and Investment Partnership (ETIP) with Nigeria to boost trade and investment between the two countries and unlock new opportunities for businesses in both countries. According to a statement issued on Tuesday by the Senior Press & Public Affairs Officer of the British Deputy High Commission in Lagos, Ndidiamaka Eze, the UK…
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Access Holdings announces passing of Wigwe, Wife, Son
Access Holdings Plc on Sunday announced the passing of Dr. Herbert Wigwe, the company’s founding Group Chief Executive Officer and former group managing director of its flagship subsidiary, Access Bank Plc, alongside his wife and son on Friday, February 9, 2024, in a helicopter accident in the United States of America. Read: UPDATED: Macron,Atiku, others mourn Wigwe, Wife, Son, Ogunbanjo…
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NNPC, CBN to strengthen relationship to guarantee seamless commercial operation
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the NNPCL to domicile a significant portion of its revenues and other banking services with the apex banking regulating body. Read: BREAKING: President Tinubu moves revenue…
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Lagos traditional ruler appeals to Tinubu on high cost of living
….Asks FG to control prices of food commodities Amid rising cost of living and food inflation, traditional ruler of Otumara community, High Chief Kehinde Kalejaiye has appealed to President Bola Tinubu to mitigate the pains of Nigerians and control prices of food commodities. Kalejaiye made the appeal following the order of the court to the Federal Government to fix the…
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E-payment transactions hit N600.36trn in 2023, says NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said the total value of instant payments in 2023 was N600.36 trillion. Instant payment is an account-based, real-time electronic funds transfer (EFT) platform. It enables financial institutions to provide online real-time funds transfer services to their customers through all available electronic channels. According to data by NIBSS, the figure represents an increase of…
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Navigating turbulence: Nigerian banks gear up for uncertain 2024, says Olubunmi
A Financial Analyst, Mr Ayokunle Olubunmi, says several factors including policy changes, economic conditions and technological advancements will influence the Banking Sector performance in 2024. Olubunmi, who is the Head, Financial Institutions Ratings at Agusto and Co, disclosed this at a forum organised by the Finance Correspondents Association of Nigeria (FICAN) on Thursday in Lagos. The forum had the theme,…
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FG to enhance manufacturers, others with N200bn loan via BOI
The federal government has, through the Federal Ministry of Industry, Trade, and Investment (FMITI), established three funds totalling N200 billion to support businesses across Nigeria, at nine per cent interest, to be disbursed by the Bank of Industry (BOI). In a similar vein, the Corporate Affairs Commission (CAC), in partnership with Moniepoint Micro Finance Bank, yesterday, registered an unprecedented two…
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NGX RegCO, others pledge unified commitment to sustainability reporting
In a significant stride towards fortifying investor protection in the Nigerian capital market, NGX Regulation Limited (NGX RegCo), the IFRS Foundation, and the Financial Reporting Council of Nigeria (FRC) have jointly reaffirmed their dedication to spearheading sustainability reporting initiatives among listed companies. The commitment was made during the NGX Issuers Engagement Forum held on Thursday at The NGX Group House,…
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