BUA Cement Hunts for Funds to Expand Sokoto Factory Capacity

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has postponed the Monetary Policy Committee (MPC) meeting scheduled to hold next week. In a statement, the apex bank noted that the MPC meeting, which was supposed to take place on Monday, September 25 and Tuesday, September 26, 2023, has been postponed until further notice. This is coming less than a week after President Bola Tinubu nominated Mr Olayemi Michael Cardoso to take over the role from Mr Folashodun Shonubi, who is filling the role following the ousting of Mr Godwin Emefiele, who is currently held in the custody of the

Forex trading in Malaysia has been legal and regulated by the central bank, Bank Negara Malaysia (BNM), since 2012. While Malaysia’s growing economy attracts financial companies, traders need to beware of scammers who target beginners seeking quick profits. Traders Union (TU) experts provide a Forex scammer list for Malaysia and discuss types of Forex scams. Blacklist of Forex scam brokers in Malaysia BNM, the country’s financial regulator, maintains a list of nearly 400 companies involved in Forex trading scams in Malaysia. These companies are regularly updated as they engage in fraudulent activities, such as using manipulated software, blocking withdrawals, and

By Bliss Okperan A foremost content reader, FeedSpot, has named Business Post Nigeria as one of the Top 25 Nigeria Personal Finance Blogs. In the list, Business Post was placed in the 8th position, ranking among other reputable online platforms serving readers with quality and educative business and financial news reports and articles. In the top 10, FeedSpot listed Nairametrics as number one, followed by UBA Group, Financial Nigeria Magazine, Investors King, Cowrywise Blog, Financial Watch, MakeMoney, Business Post Nigeria, Nigeria Galleria Blog, and Money Matters with Nimi. Other platforms listed were LagosMums, Financengr, Rosabon Financial Blog, Ohimai Consulting Blog,

By Ebitonye Akpodigha President Muhammadu Buhari is looking towards borrowing close to $30 billion to provide infrastructure projects for the benefit of Nigerians. But to make this possible, he has written to the National Assembly (NASS), seeking its nod to go ahead with his plan. In the letter presented to House of Representatives, Mr Buhari explained that he hopes to secure an external loan of about $29.960 billion between 2016 and 2018. “I wish to refer to the above subject and to submit the attached draft of Federal Government 2016-2018 External Borrowing (Rolling) Plan for consideration and early approval by

By Dipo Olowookere One of the news items that has dominated the business space in the past few days is the rumoured takeover of FBN Holdings Plc, the parent company of First Bank of Nigeria (FBN) Limited, by Mr Femi Otedola, a businessman in the country. It was reported that he has ‘acquired’ the lender by pumping about N30 billion into the shares of the company at the stock market, making him the single largest shareholder. This was linked to the recent rise in the trading volume and value of FBN Holdings equities at the Nigerian Exchange (NGX) Limited, which

By Sodeinde Temidayo David First City Monument Bank (FCMB) Limited, under its Hub One forum, in collaboration with Passion Incubator, is set to host a crowdfunding platform compliance roundtable with the support of the apex regulatory agency for the Nigerian capital market, the Securities and Exchange Commission (SEC). The roundtable engagement event is aimed at bridging the knowledge gap between crowdfunding platforms and intermediaries on the new SEC rules on crowdfunding, the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. The event titled Building A

By Dipo Olowookere In the fourth quarter of 2021, the gross domestic product (GDP) of Nigeria increased by 3.98 per cent, the National Bureau of Statistics (NBS) said on Thursday in its latest GDP report. However, this growth was lower than the 4.03 per cent achieved in the third quarter of last year and higher than the 3.87 per cent posted in the fourth quarter of 2020. According to the stats office, in the full year, the nation printed an economic growth of 3.40 per cent, with the Q4 growth the fifth consecutive since the recession witnessed in 2020 when

The Japanese government has approved the release of $1.5 million to fund community stabilization activities in Nigeria’s North-East region. These funds will be utilized through an ongoing programme launched in 2016, implemented by the United Nations Development Programme in Nigeria. The interventions being implemented in the region are aimed at supporting victims of Boko Haram insurgency in the three most affected states of Adamawa, Borno and Yobe. This builds on ongoing activities that the Government of Japan has been supporting which have facilitated the rehabilitation of 20 public infrastructures and provided emergency employment to more than 2,000 Internally Displaced People

By Michael Onuorah With a population of over 200 million people, Nigeria is undoubtedly one of the most populous countries in the world, accounting for half of the population of West Africa. While the country has the largest economy in Sub-Saharan Africa, with agriculture being the largest contributor to the Gross Domestic Product (GDP), access to electricity is faced with a myriad of challenges, including infrastructure constraints, insufficient end-user tariffs, unstable supply, among others. In a bid to tackle these challenges and promote efficiency in the area of operations in the power industry, the Nigerian government unbundled the Power Holding

By Modupe Gbadeyanka Efforts would be made to work with the private sector to deliver projects that are of immense long-term impact on the residents of Lagos State, the Director-General of the Office of Public-Private Partnerships (PPP) in the state, Mr Ope George, has assured. Mr George, who admitted that there was an infrastructure gap in Lagos State like in most states of the federation, emphasised that the administration of Governor Babajide Sanwo-Olu was committed to bridging this gap by taking advantage of the people-friendly PPP model to deliver projects that impact Lagosians positively. According to him, his office was

By Professor Maurice Okoli The growing US-China rivalry and Russia-Western allies’ geopolitical tension have shaken the international peace and security system’s foundation and significantly shaped Russia’s diplomacy with Africa. While that seems to be the general trend across the board, the Federal Republic of Nigeria is also getting highly renewed attention from Moscow. Historically Nigeria, like a number of African states, has had relations from the Soviet times and still maintains traditional relationships after the Soviet’s collapse in 1991. Nevertheless, it is interesting to explicitly note that a new wave of democratic change has also blown all over Africa. We