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Consumer commission to check arbitrary price fixing

Abuja, April 15, 2024 – The Federal Competition and Consumer Protection Commission (FCCPC) says it will not hesitate to take action against businesses engaging in arbitrary price fixing. The FCCPC made the promise in a statement posted on its official X handle on Sunday. It said it was concerned about recent complaints about rising prices of goods in spite of the appreciation of the naira, adding that the rising cost of essential goods impacted consumers’ well-being and economic stability. “While we recognise that the commission cannot directly control prices, we …

Ivory Coast to increase cocoa price by 50%

Abidjan, April 1, 2024 – Ivory Coast’s President Alassane Ouattara will increase the official cocoa farmgate price to 1,500 CFA francs ($2.47) per kg from Tuesday from the current 1,000 CFA, sources at five different export companies said. The sources, who requested anonymity because of the sensitivity of the issue, said they were citing a decision at a government meeting on Saturday. Earlier in the day, Ouattara had validated a proposal for a price of between 1,100 and 1,200 CFA francs per kg before reversing his decision and asking that …

Tinubu, CBN done well to stabilise the Naira – IMP

Abuja, March 28, 2024 – The Independent Media and Policy Initiative (IMPI), a private Think-tank, has described the rate with which the Naira is appreciating as a reflection of the bouquet of positive policies introduced by the Nigerian authorities and the Central Bank of Nigeria (CBN). In a policy statement on Wednesday in Abuja by the Chairman of IMPI, Mr Niyi Akinsiju, the Think-tank argued that the government and the CBN deserved commendation for the policies that were addressing the supply and demand sides of the foreign exchange market. IMPI …

FEC approves creation of Renewed Hope Infrastructure Fund

Abuja, March 25, 2025 – The Federal Executive Council has approved the creation of the Renewed Hope Infrastructure Fund to enhance infrastructure development across the country. Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, disclosed this on Monday after the Federal Executive Council (FEC) meeting. He said the fund was designed as a special purpose vehicle to drive the crucial investment needed for the country’s infrastructure development demands.  Adedeji said the plan of the Federal Government had been to bridge the infrastructure gap of over $858 billion that …

Diaspora investments can galvanise Nigeria’s economic prosperity – Dabiri-Erewa

Abuja, March, 22, 2024 – Abike Dabiri-Erewa, the Chairman of Nigerians in Diaspora Commission (NIDCOM), says  structured Diaspora investment can galvanise Nigeria’s economic prosperity. Dabiri-Erewa said this in Abuja on Thursday during a strategic meeting with a wealth management company, Optiva Capital Partners. She said the collaboration between Optiva Capital Partners and NiDCOM would be as a pivotal step toward harnessing the potential of Nigeria’s Diaspora community in fostering sustainable economic growth and strengthening ties between the Diaspora and their homeland. Dabiri-Erewa said that NiDCOM was willing to partner with …

Access Banks acquires National Bank of Kenya 

Lagos, March 21, 2024 – Access Holdings Plc has entered into a binding agreement with Kenyan-based KCB Group Plc to acquire 100 percent stake in National Bank of Kenya Limited. According to a statement filed with the Nigerian Exchange Limited on Wednesday, Sunday Ekwochi, the Secretary of Access Holdings, said the transaction was in furtherance of the Bank’s expansion strategy in Africa. He said the acquisition would reposition it as a stronger and significant player in the Kenyan market whilst serving as a regional hub for East Africa. Roosevelt Ogbonna, …

South African consumer inflation rises to 5.6%

Johannesburg, March 20, 2024 – South Africa’s consumer inflation rate rose to 5.6% in February from 5.3% in January.  Key contributors to the annual inflation rate include food, housing, transport, and miscellaneous goods and services like medical insurance.   According to Reuters, this is the second increase in a row, inching closer to the Central Bank’s upper target. Economists in the country stated this could imply longer waits for rate cuts The South African Reserve Bank, which has an inflation rate target of between 3% to 6%, will announce a monetary …

Nigerian economy is resilient, attractive to investors – IMPI

Abuja, March 19, 2024 – The Independent Media and Policy Initiative (IMPI) says the Nigerian economy is very resilient and attractive to investors as investments in its key sectors are highly profitable. It also says there are verifiable data to show that Nigeria has a robust investment climate under the President Bola Tinubu administration contrary to the narrative of an economy shorn of investor confidence. In a policy statement signed by its Chairman Niyi Akinsiju, the policy think tank noted that it came to that conclusion after a comparative analysis …

Nigerian Biz Community in Ghana begs FG to use Trade Office to solve its problems

Accra, March 18, 2024. The Nigerian business community in Ghana has urged the federal government to use the Nigerian trade office in Ghana to solve its problems. The Nigerian government, under the leadership of former President Muhammadu Buhari, opened trade offices in some countries to assist the Nigerian business community abroad do their businesses. Comrade Evaristus Nwankwo, President, Nigerian Union of Traders Associations in Ghana, said in Accra that the Nigerian business community wanted the federal government to use the office to ameliorate their challenges. He said that Nigerians in …

Heirs Holdings tells story of transformational investment in Africa, launches television commercial

Lagos, March 18, 2024 – Heirs Holdings has launched its first-ever television commercial.  The newly released television commercial (TVC) showcases the company’s diverse portfolio, spanning the power, energy, financial services, hospitality, real estate, healthcare and technology sectors while highlighting its commitment to driving positive change and sustainable development across Africa and beyond. With its compelling narrative, the commercial is captivating audiences worldwide, shining a spotlight on Heirs Holdings’ vision, and commitment to improving lives and transforming the continent. Link to the HH’s TVC: In 2010, Tony O. Elumelu, CFR, founded …