The International Monetary Fund has said that Nigeria and other resource-rich economies that face enormous challenges due to drop in commodities prices can adopt right tax policies to address the short fall in revenue. In its survey report it said that resource rich countries that face challenges can manage volatile and unpredictable commodity prices. In its latest Fiscal Monitor, the IMF examines how countries can tax and spend wisely so that their oil, gas and metals support strong and stable economic development.

Young and upcoming Africa’s innovators and start-ups will have the ability to scale their ideas in new markets following the launch on Tuesday of Rise, a physical and virtual global community that facilitates collaboration and fintech innovation.
Funded by the Barclays, Rise is ideally positioned to take advantage of technology solutions that are not reliant on physical infrastructure.

This is particularly relevant in the African context.

One of the top commercial banks in Nigeria, Access Bank, has disclosed that it has selected Ireland’s leading self-service banking software provider, CR2’s BankWorld omnichannel suite, to manage its self-service channels including ATM, Internet, and Mobile. With 5 million retail customers and over 1,500 ATMs, Access Bank was mindful of the importance of the self-service channels in supporting Nigeria’s retail banking growth. This strategic alliance was celebrated at Access Bank’s London headquarters recently.

Less than a month after President Muhammadu Buhari visited France, Nigeria could begin to reap the fruits of that trip as the French government said it has bridged the divide between France and Nigeria.

Ecobank Transnational Incorporated (ETI), has foreclosed the plan of selling some its stake in its Nigeria subsidiary, Ecobank Nigeria Limited, due to falling equities’ prices. The Chief Executive Officer of the bank, Mr. Ade Ayeyemi, stated this in an interview with Bloomberg.

The Securities and Exchange Commission (SEC) has revealed plans to grow the size of non-interest products to 25 per cent of the overall market capitalization.

The PricewaterhouseCoopers (PwC) network yesterday reported global gross revenues of $35.4 billion for the fiscal year ended 30 June 2015. At constant exchange rates, PwC’s global revenues rose by 10 per cent. This is up markedly from the previous year and the strongest year-on-year growth that the network has seen since 2007.

Recently, the Group Managing Director, Dr. Emmanuel Ibe Kachuikwu, had an interactive session with journalists in Lagos. A Q&A session ensued as captured by Sebastine Obasi. Excerpts:

The improvement recorded in the supply of electricity and distribution of petroleum products since the advent of the President Muhammadu Buhari administration in May 29, may have come as a surprise to many Nigerians.

Nigerians await the coming on stream of modular refineries, operators and stakeholders in the petroleum sector have emphasized the need for a clear commercial framework, proper logistics, deregulation of the downstream sector and certain government guarantees.