Business

Imports choke textile industry, rise to N1.1trn in two years

Imports choke textile industry, rise to N1.1trn in two years

Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
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Today’s customers demand faster services without compromising quality — CEO, Stanbic IBTC

Today’s customers demand faster services without compromising quality — CEO, Stanbic IBTC

Most organisations interpret and implement CSI as best suits their overriding corporate goals. However, to borrow a leaf from the United Nations Industrial Development Organisation (UNIDO), we at Stanbic IBTC see CSI as a management concept whereby we integrate social and environmental concerns into our business operations and interactions with our stakeholders. CSI is the way through which Stanbic IBTC as a socially responsible company achieves a balance of economic, environmental and social imperatives.

PFAs as the next investment destination

PFAs as the next investment destination

If  a  pension is  deemed to be an invaluable source of income for the retired, and the Federal Government of Nigeria so motivated, introduced the Pension Reform  Act of  2004, it should  not be a surprise that within 13 years from inception, the pension industry has already risen to N6.02 trillion assets under management. The rate of growth is quite remarkable when  compared to the  125-year-old  Nigerian banking industry that stands at slightly  over N30  trillion.

N261bn inflow to stabilise interbank interest rates

N261bn inflow to stabilise interbank interest rates

Analysts fault budget 2018 assumptions By Babajide Komolafe THE interbank money market will this week receive inflow of N261 billion which will enhancing stability of cost of funds in the market. Last week, cost of funds fell sharply due to inflow of N233.8 billion on Thursday from matured treasury bills (TBs). Prior to the inflow, […]