CSCS Lifts NASD OTC Exchange by 0.52% Thursday

By Bliss Okperan The exchange rate instability in the country is already giving small business owners sleepless nights and it threatens their investments. This concern was raised recently by the National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Mr Segun Kuti-George. He emphasised that business owners would have to increase their prices because of the unavoidable consequence of the current exchange rate crisis in Nigeria. According to him, if consumers are unable to meet up with the increase in the cost of goods and services, businesses would be forced to shut down their operations, which would, in turn,

By Adedapo Adesanya The new Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said he would adopt an evidence-based monetary policy as he assumed office upon confirmation by the Nigerian Senate on Tuesday. He said the new leadership of CBN would “adopt an evidence-based monetary policy and shall not be making decisions based on a whim.” The Godswill Akpabio-led Senate confirmed the nomination of Mr Cardoso’s nomination as well as that of the four Deputy Governors of CBN nominated by President Bola Tinubu. The four deputy governors whose appointments were confirmed by the Senate are Mrs

By Aduragbemi Omiyale The value of unsold finished products in the inventory of Nigerian manufacturers in the first half of 2023 increased by 44/9 per cent on a year-to-date basis to N272 billion from N187 billion in the same period of 2022. This information was contained in the report released by the Manufacturers Association of Nigeria (MAN) on Tuesday. According to Punch, the document also revealed that in the period under review, the manufacturing sector laid off 3,567 workers due to the harsh business environment triggered by high inflation, the foreign exchange (FX) crisis, and fuel subsidy removal. “This increase

By Modupe Gbadeyanka The Economic and Financial Crime Commission (EFCC) has expressed its preparedness to assist the Ghana Financial Intelligence Centre (GFIC) in its efforts to effectively supervise and monitor Designated Non-Financial Businesses and Professions (DNFBP) in Ghana. The offer of assistance came on August 14, 2018 through Head, Special Control Unit against Money Laundering (SCUML), Bamanga Bello, who represented the acting EFCC Chairman, Ibrahim Magu, during a working visit by a delegate from the GFIC to the EFCC’s Head Office Complex, Abuja. Leader of the delegation and Head, GFIC’s Analysis Unit, Lucy Abebrese, noted that the visit was “to

By Dipo Olowookere Tunisian President, Beji Caid Essebsi, has said his country was making efforts to show the world that “Islam is not incompatible with democracy.” He made this known during a visited today to the European Parliament in Brussels, where he was welcomed by Parliament President, Martin Schulz. They had a meeting during which they discussed developments in Tunisia and EU-Tunisia relations. Essebsi called the visit is a “historic and highly symbolic moment” and addressed MEPs on his country’s commitment to democracy and freedom. “Tunisia is determined to prove that Islam is not incompatible with democracy,” said Essebsi, who

By ‘Muyiwa Osifuye Just before a new financial year, many CEO or business owners may start becoming restless and apprehensive. You want to make effective business decisions for the New Year. You are not alone. This is irrespective of whether your organization has posted good financials in the outgoing year or not. The bulk stops at your table for the next cycle of things. You should desire a more successful outcome of the expectant year. I am going to take you through some basic steps you can take; to remove the cobweb of anxiety from your mind. Of course, here,

As part of plans to create ease of payment and boost economic activities in major market clusters across the country, Ecobank Nigeria has taken its innovative digital payment solution, EcobankPay to the ancient town of Ikorodu, a Lagos suburb. This, the bank said is in its plan to create ease of payment and boost economic activities in major market clusters across the country. The bank designated the popular Bale market, Ikorodu as an EcobankPay zone Speaking at the launch, Executive Director, Commercial Banking, Carol Oyedeji restated the determination of the bank to ensure Nigerians get quality banking transactions and good

By Dipo Olowookere Stakeholders in the transport sector in Oyo State have been admonished to cooperate with the Vehicle Inspection Officers (VIO) in order to enjoy smooth operations of their duties and enhance the internally generated revenue. Commissioner for Works and Transport, Mr Wasiu Dauda gave this charge during the stakeholders meetings with members of the transport Unions and Vehicle Inspection Officers held in Saki and Oyo towns respectively on Wednesday. Addressing the mammoth crowd that attended the stakeholders’ meetings, Mr Dauda reiterated that the Mr Ajmobi’s administration has the welfare of its citizenry at heart, hence, the execution of

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State at the weekend expressed the readiness of his administration to upgrade the Songhai Model Farm in Avia-Igborosun, Badagry, with a pledge to transform the project and use it to boost the Agro Tourism and food security drive of the state government. The project, which is sitting on a massive 167 hectares of land with additional available land for other projects, was copied from Songhai in Republic of Benin under the Agric-Yes initiative of the Lagos State Ministry of Agriculture. Speaking during inspection of the project alongside top government officials, Mr Ambode

By Modupe Gbadeyanka Vice President Yemi Osinbajo will meet with his United States counterpart, Ms Kamala Harris, and other top officials of the country to discuss Nigeria’s energy transition plan. The VP left the shores of Nigeria on Wednesday for meetings from Thursday to seek global partnerships and support for the policy, which was launched recently. Last week, Mr Osinbajo inaugurated Nigeria’s Energy Transition Implementation Working Group (ETWG) chaired by him and has some Ministers and other top government officials as members. It was developed for the attainment of 2060 net-zero emissions commitment in 5 critical sectors: Power, Cooking, Oil

By FBNQuest Research The journey of the 2018 budget has finally ended with the presidential sign-off on 20 June, more than seven months after the proposals were first submitted to the National Assembly. The presentation of the budget by the federal minister of budget and national planning stresses the continuity with what it terms the “reflationary” budgets of 2016 and 2017, and the Economic Recovery and Growth Plan 2017-20. The buzzwords of the presentation are infrastructure and capital spending. Total FGN expenditure is projected at N9.12 trillion, compared with actual and budget figures of N6.05trn and N7.44 trillion for 2017.