The Minister of Transport, Mr. Rotimi Amaechi, said Nigerian economy has not collapsed as being speculated, stressing that the year 2016 is going to be tough given the fact that crude oil price has not stabilised. Also, a renowned financial expert, Mr. Bismarck Rewane has said that the Federal Government’s fiscal and monetary policies need to be harmonised in order to give investors confidence to invest in the country.

Procter & Gamble (P&G) Nigeria, a consumer goods manufacturing company has picks popular R&B singer, Tiwa Savage to lead its new campaign “#MomsKnowBest” for its flagship brand, Pampers Baby-Dry diaper.This was disclosed at the unveiling of the campaign with the new television commercial, TVC of Pampers Baby-Dry Diaper held in Lagos.

The International Finance Corporation has advised Commercial Banks in Nigeria to see it as a duty to assist in funding Microfinance Banks (MfBs) in the country. Country Manager for IFC Nigeria, Eme Essien-Lore, gave the advice at a function in Lagos, where she said that there are lots of potential for commercial banks to be lending to microfinance banks in the country than looking for external capital.

Insurance companies and other financial institutions are indebted to commercial banks to the tune of N790billion as at September 2015, according to the Central Bank of Nigeria (CBN)’s 2015 Quarterly Statistical Bulletin. The indebtedness of insurance companies, capital market operators and other financial organisations to banks in the country was N763, 392.26 in December 2014 and rose to N849, 595.55 in August 2015 before it went down to N790, 241.68 as at September 2015.

Olam Nigeria said its Singapore-based holding company, Olam International Limited has acquired Amber Foods Limited for $275 million. If the amount is converted with the current official exchange rate this amounts to N8.4150billion.