Business

Banks awash with excess cash amidst poverty

Banks awash with excess cash amidst poverty

•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
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World Bank rates Nigeria low in trade logistics index

World Bank rates Nigeria low in trade logistics index

work was required to spur economic growth and help firms benefit from trade recovery.

High income economies dominate the top logistics rankings, with most of them occupying important places in global and regional supply chains.The lowest performing countries are mostly from the low income groups.

Sacked Cadbury boss  acted based on facts

Sacked Cadbury boss acted based on facts

The sacked former Chief Executive Officer of Cadbury Nigeria PLC, Mr Bunmi Oni, told an Ikeja High Court that he acted on facts at his disposal to prevent the company from going down. Oni averred before Justice Ayo Phillips that the deferrals he made in respect of a N3 billion loss incurred by Cadbury was due to the situation the company found itself.

SMEDAN to introduce credit scheme without  collateral to SMEs

SMEDAN to introduce credit scheme without collateral to SMEs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has disclosed that it is partnering with relevant stakeholders to introduce a functional credit guarantee scheme that will enable entrepreneurs to access funds without collateral. Alhaji Mohammad Umar, the Director-General of SMEDAN, told newsmen in Abuja on Wednesday that the scheme, which might not be domiciled in SMEDAN, would ensure that Small and Medium Entrepreneurs (SMEs) accessed credit facilities without the usual difficult conditions.

NPA, NNPC to collaborate in rehabilitating Atlas Cove Jetty

NPA, NNPC to collaborate in rehabilitating Atlas Cove Jetty

The Nigerian Ports Authority (NPA), and NNPC are to collaborate toward rehabilitating and upgrading the facilities at the Atlas Cove Jetty. Malam Abdulsalam Mohammed, NPA Managing Director, made this known in Lagos. He was conducting Mr Femi Olayisade, the Permanent Secretary, Federal Ministry of Transport, round the organisation’’s facilities at the Atlas Cove Jetty and East and West moles of the Lagos Harbour.