Business

Nigeria must wake up to the changing role of state governments

Nigeria needs to review existing structures to drive growth. xtock/Shutterstock Ohio Omiunu, De Montfort University There have been sustained efforts to diversify Nigeria’s economy since the country returned to democratic civilian rule in 1999. Successive governments have made foreign direct investment a priority to achieve this aim. Originally, the organised private sector was intended as the primary driver of investment-led ...

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Dangote, Elumelu For Honour As CAMCAN Holds Capital Market Performance Awards

Prominent players in the nation’s capital market will gather in Lagos this weekend (Saturday September 29) for the maiden awards ceremony to recognize and reward excellence among companies quoted on the Nigerian Stock Exchange (NSE). The award ceremony organized by Capital Market Correspondents Association of Nigeria (CAMCAN), is to reward: profitability, resilience, efficiency of company managements, stocks with the best ...

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Lifting the lid on the black box of informal trade in Africa

Flickr/IFPRI – IMAGES Joachim Jarreau, Université Paris Dauphine – PSL; Cristina Mitaritonna, CEPII, and Sami Bensassi, University of Birmingham The share of internal trade in Africa remains low, as reflected by official statistics. This is despite numerous regional trade agreements that have led to tariffs removal within the trading blocs. At least in principle. There are a host of shortcomings ...

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AfDB Boosts Jobs For Youth In Africa With Close To $2 Million

The African Development Bank’s Fund for African Private Sector Assistance (FAPA), has provided funds totaling nearly US $2 million to its Jobs for Youth in Africa initiative. FAPA, of which the Government of Japan is a major donor, along with the Austrian Government and the African Development Bank, will contribute $923,570 and $988,202 to finance the Bank’s Fashionomics Africa Digital Marketplace and Entrepreneurship & Innovation Lab ...

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Samsung’s foldable phone could soon be a reality

Samsung Ravi Silva, University of Surrey We rarely see a truly remarkable new technology more than once a decade. After years of undelivered promises, such a technology looks finally set to enter the market: the flexible computer screen. Imagine, a tablet display you can fold up and put in your pocket, a smart watch whose strap is the screen, or ...

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NSE Says No Trading In Skye Bank Shares From Monday

The Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24. The exchange gave the notice in Lagos in a statement by Mr Olumide Orojimi, Head, Corporate Communications and Mr Godstime Iwenekhai Head, Listings Regulations. NSE said that the action was taken following the revoking of ...

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CBN Shuts Down Skye Bank

Polaris Bank has taken over the assets and liabilities of Skye Bank, the Central Bank of Nigeria said today. Consequently, the CBN has revoked the operating licence of Skye Bank Plc with immediate effect. Governor of Central Bank, Godwin Emefiele, disclosed this during a press briefing in Lagos on Friday.  Emefiele said the decision was reached following the inability of ...

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AfDB President Adesina Woos Canada At Africa’s Investment Table

African Development Bank President, Akinwumi Adesina, on Wednesday urged Canadian business leaders to “be part of the action and seize investment opportunities on the continent.” Adesina made the call while meeting with 80 leading representatives of the Canada-Africa Chamber of Commerce in Toronto. Promoting the Bank’s upcoming Africa Investment Forum (AIF), scheduled for 7-9 November 2018 in Johannesburg, South Africa, ...

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N6.9bn Debt: UBA, Anambra Government Move To Settle Rift  

Raymond Ozoji, Awka The Anambra State Government and United Bank of Africa PLC (UBA) are currently working on amicable settlement on the N6.9 billion unpaid tax arrears established by the court as debt owed the state government. Chairman and Chief Executive Anambra Internal Revenue Service Dr. David Nzekwu disclosed this to our correspondent at the Revenue House Awka On Wednesday. ...

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Nedbank Announces 10 World Innovators To Be Connected To Business Leaders 

Nedbank recently announced the expansion of their US partnership with Plug and Play, the world’s largest innovation platform, to include South Africa for the first time. Together, the entities will connect 10 visionary entrepreneurs from around the world to business leaders at The Disruption Agenda to be held in Johannesburg, South Africa in September. “We’re incredibly excited for the ten startups that are ...

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