*As FCCPC develops framework, guidelines for digital lending By Yinka Kolawole The Federal Competition and Consumers Protection Commission, FCCPC, has directed payment systems operators, PSOs, such as Flutterwave, Opay, Paystack and Monify, as well as telecommunication companies, including Mobile Network Operators, MNOs, in Nigeria to stop providing support that enables the operations of illegal digital […]

By Emma Ujah Transactions on the Central Bank of Nigeria (CBN) digital currency, e-Naira, platform has hit N4billion since its launch in October, last year.  Giving this update at the grand finale of the e-Naira Hackathon event in Abuja yesterday, the CBN Governor, Mr. Godwin Emefiele, stated: “Since the launch of this great initiative, the e-Naira has reached […]

By Agorua Alfred THE Premium Bread Makers Association of Nigeria, PBAN, has commended the Lagos State Employment Trust Fund, LSETF, United Nations Development Program, UNDP, and Bakery Initiatives Group, Nigeria, BIG, for their efforts in imparting requisite baking skills on unemployed youths, thereby contributing in bridging the skills gap in the baking industry. General Secretary, […]

By Biodun Busari The Japanese government is planning to convince its younger population to consume more alcoholic drinks as a way of boosting the economy through taxes from the brewery industries. According to reports, recent statistics from the tax agency revealed that Japanese people were drinking less in 2020 than in 1995, with numbers reducing […]

By Providence Ayanfeoluwa The president of Nigerian Indonesian Chamber of Commerce and Industry, NICCI, Mr. Ishmael Balogun, has said that the bilateral chamber intends to use the Nigeria Indonesia Investment and Trade Forum in Jakata, Indonesia, to grow the trade balance between the two countries while attracting Foreign Direct Investment, FDI, into Nigeria. Speaking at […]

By Elizabeth Adegbesan As the cashless economy sustain momentum, the value of cheque transactions in Nigeria fell month-on-month (MoM) by 12 per cent to N240 billion in July from N274 billion in June. Disclosing this in its Industry Statistics for July 2022, the Nigerian Interbank Settlement System (NIBSS) also said the volume of transactions on […]

By Emeka Anaeto, Business Editor There are indications that Heirs Holdings, HH, group, Africa’s leading enterprise powerhouse, is set for more ground-breaking feats after a long list of record achievements in its first decade in operation. The HH Group and Tony Elumelu Foundation (TEF) were created in 2010 by Mr Tony Elumelu to drive private […]

Stock Market: Foreign investors return, participation up 9.7% to N234bn

External reserves sustains downward trend, sheds $337m in 2wks

The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to reappraise its monetary and fiscal policies in view of the multifaceted challenges confronting the nation. Its Director-General, Mr Wale Oyerinde, made the call in a statement in Lagos on Saturday. Oyerinde said that the policies had little impact either because of inherent inconsistencies […]

Tight monetary policy threatens FG’s N720bn borrowing plan

By Ediri Ejoh Sahara Group has called on the petroleum industry operators to explore best possible policies and partnerships to propel seamless energy transition for Nigeria and other African countries. Speaking at the Nigeria Annual International Conference and Exhibition (NAICE), Director, Governance and Sustainability, Sahara Group, Ejiro Gray, said Nigeria as well as other countries […]

The Naira on Friday remained constant exchanging at N428.12 to the dollar at the Investors and Exporters window. The local currency remained unchanged at N428.12 to the dollar, same as the N428.12 traded on Thursday. The open indicative rate closed at N429 to the dollar on Friday. An exchange rate of N444.00 to the dollar […]

The Naira on Thursday gained against the dollar at the Investors and Exporters window, exchanging at N428.12. The figure represented an increase of 0.25 per cent compared with N429.20 it exchanged for the dollar on Wedneday. The open indicative rate closed at N428. 33 to the dollar on Thursday. An exchange rate of N444 to […]

How to halt naira depreciation — Analysts