Capital market

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Business Solutions Foreign General News

Tinubu calls for stronger regional bodies in Africa to drive integration

Abuja, May 22, 2024 – President Bola Tinubu has called for stronger regional bodies to drive integration and trade ties among African nations. Tinubu made the call in Abuja on Wednesday at the Summit on the State of Democracy in Africa. He also called for the revitalisation of sub-regional blocs like ECOWAS, EAC, and SADC to usher in an era of robust intra-African commerce, economic growth, and job creation. The President, who was represented by Vice President Kashim Shettima, said the immense potential of the African Continental Free Trade Area …

Capital market

UK underlines commitment to Nigeria’s capital market through MOBILIST programme

Lagos, May 22, 2024 – The UK Government is keen to support development of Nigeria’s capital market through its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme. Nigeria’s capital market can help contribute to the delivery of the country’s economic goals, including the ambition to transition to clean energy solutions, but needs around USD 10 billion in financing per year to meet the Sustainable Development Goals (SDGs) by 2030.  At the two MOBILIST events hosted by the Nigerian Exchange Limited (NGX) and the British Deputy High Commission (BDHC) in Lagos …

Business Planning Money market

Retain MPR at 24.75% – experts advise CBN

Abuja, May 20, 2024 – Some experts have advised the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to retain the Monetary Policy Rate (MPR) at 24.75 per cent. The MPR is the nominal anchor of lending rates in the banking sector. The experts, who gave the advice in separate interviews in Abuja on Monday, spoke against the backdrop of the MPC meeting holding on Monday and Tuesday. Prof. Ken Ife, an economist, said that the seeming success of aggressive tightening in the last two meetings might …

Business Planning Investment

Nigeria’s credit outlook upgrade by Fitch an indication of transparency

Abuja, May 17, 2024 – Vice President Sheu Shettima says the recent upgrade of Nigeria’s credit outlook by Fitch, a global credit agency, is a indication of increasing confidence in the nation’s economy by the global community. Fitch recently upgraded Nigeria’s credit outlook to positive. Shettima made the observation on Thursday during the 141st meeting of the National Economic Council (NEC) at the Presidential Villa, Abuja. “There is no doubt that this government has demonstrated transparency in its financial dealings and projections. “Therefore, it is not surprising that just a …

Business Planning

Shettima presides over NEC meeting

Abuja, May 16, 2024 -Vice President Kashim Shettima is presiding over the 141st meeting of the National Economic Council (NEC) holding at the State House, Abuja. The council advises the federal government on economic matters. It comprises of the state governors, the Central Bank governor, the Minister of Finance and other stakeholders. The last meeting discussed the issue of state police, among others. (GBN)

Capital market

FG lists N4.214bn April Savings Bonds on NGX

Lagos, May 16, 2024 – The Federal Government has listed its April 2024 Savings Bonds worth N4.214 billion on the Nigerian Exchange Limited platform. This was disclosed in the market bulletin signed by the Head, Issuers Regulation Department of NGX, Godstime Iwenekhai. According to the bulletin, “Trading License Holders are hereby notified that the April 2024 Issue of the Federal Government of Nigeria (FGN) Savings Bonds was listed on Nigerian Exchange Limited (NGX) on May 13, 2024.” Details of the Bonds include FGS April 2026, 1.228 million units valued at …

Business Solutions Commodities

Biden expects China to retaliate to new tariffs

 Washington D.C, May 15, 2024 – China appears to still be weighing how it will respond to sweeping new tariffs on Chinese imports, but Joe Biden told Yahoo Finance that a retaliation is likely coming. “I don’t think it’ll lead to any international conflict or anything like that, but I think they’ll probably try to figure out how they can raise tariffs, maybe on products that are unrelated,” Bident said in an exclusive Yahoo Finance interview. The president said he expected the coming trade conflict to be manageable, telling Yahoo Finance …

Business Solutions ICT Money market

Ecobank MySME Growth Series: Artificial Intelligence holds key to business development – Erhabor

Lagos, May 15, 2024 – Small and Medium Enterprises (SMEs) in the country have been advised to embrace Artificial Intelligence (AI) technology to grow their businesses. Ehia Erhabor, the Founder AI Nigeria, gave the advice during in his presentation at the Ecobank MySME Growth Series webinar titled “Using AI for Business Innovation”. He described AI as a gamechanger particularly for Small Businesses.  According to him, AI is rapidly transforming industries by automating processes, enhancing analytics, and enabling personalized customer experience, stressing that the future of AI is its democratization where companies …

Business Solutions Investment

FEC approves tripartite committee to facilitate visa issuance for investors

Abuja, May 15, 2024 – The Federal Executive Council (FEC) has approved the establishment of a tripartite committee to streamline visa issuance processes. Muhammad Idris, the Minister of Information and National Orientation, disclosed this on Tuesday after the Federal Executive Council (FEC) meeting. Idris said the committee would ease acquisition of the passports for foreign investors.  “Our visa processes are becoming cumbersome. The ease of doing business is also tied to our visa processes. “Going forward, those investors, tourists would find it easy to acquire a visa within the next …

Business Planning Investment

Biden unveils historic wave of tariffs on ‘strategic’ Chinese imports

Washington D.C., May 15, 2025 – The White House formally unveiled a sweeping array of new tariffs on Chinese goods Tuesday that will raise duties on $18 billion in Chinese imports. The long-awaited announcement will touch an array of sectors, with steel to semiconductors to medical products feeling new duties as soon as this year. Electric vehicles are a key focus of the announcement, with duties there set to quadruple in 2024 from 25% to 100%. The actions also notably do not include the lowering of more than $300 billion …