NDDC defends self in group’s N200bn contracts’ litigation

March 1, 2023

NDDC defends self in group’s N200bn contracts’ litigation

By Ben Eguzozie  It is appearing difficult to wean Niger Delta Development Commission (NDDC) from phoney contracting and financial sleaze. Board after board at the government quango has been regularly trailed by stories of graft and more graft. This time around, the newly inaugurated governing board and management led by Lauretta Onochie appears to be […]

African business leaders eye growth via digital solutions, regional integration 

March 1, 2023

African business leaders eye growth via digital solutions, regional integration 

By Ben Eguzozie Big data analytics, AI top tech innovations Business leaders in Africa have pointed to digital solutions and innovation, followed by new product or service development as the biggest propositions in terms of strategy to drive revenue growth over the next three years in the continent. Big-data analytics and artificial intelligence are among […]

Supreme Court fixes March 3 to deliver judgment on naira policy suit

February 22, 2023

Supreme Court fixes March 3 to deliver judgment on naira policy suit

By Business AM The Supreme Court of Nigeria has fixed 3rd of March for judgment in suits filed by some states against the CBN’s naira redesign and cash swap policy implemented by the Central Bank of Nigeria which halted the usage of the old N500 and N1,000 notes as legal tender. The nine-member panel of […]

NBS inflation index extremely outdated, says IMF

February 21, 2023

By Business AM The index weights and basket presented by the National Bureau of Statistics (NBS) for the monthly consumer price index are extremely outdated, according to the International Monetary Fund (IMF). The major financial agency of the United Nations made the assertion in a recent  report titled ‘’Nigeria: 2022 Article IV Consultation-Press Release; Staff […]

Fitch warns Nigeria of political risks after 2023 elections

February 21, 2023

Fitch

By Onome Amuge The upcoming 2023 general elections in Nigeria has been described by many analysts as one of the defining moments in the country’s history as the voting populace throng into polling units to elect their choice candidates in the hope of an economic turnaround from the country’s extremely fragile state. However, Fitch Solutions […]

CBN debunks reports directing banks to accept old N500, N1,000 notes 

February 17, 2023

CBN debunks reports directing banks to accept old N500, N1,000 notes 

By Business AM The Central Bank of Nigeria (CBN) has debunked claims that commercial banks have been authorised to receive the old N500 and N1,000 notes. CBN, in a press release via its official Twitter handle @cenbank, maintained that it stood by the directive of President Muhammadu Buahari that the old N500 and N1,000 notes […]

Nigeria’s 2050 agenda projects 7% annual GDP growth

February 15, 2023

Nigeria’s 2050 agenda projects 7% annual GDP growth

By Cynthia Ezekwe Nigeria’s 2050 agenda, recently endorsed by the National Economic Council (NEC), projects a seven per cent growth in the  gross domestic product (GDP) of Nigeria, with a significant improvement in per capita income. The agenda which was presented by the ministry of finance, budget and national planning to state governors and other […]

Nigeria’s inflation jumps to 21.82% in January

February 15, 2023

Nigeria’s inflation jumps to 21.82% in January

By Onome Amuge Nigeria’s inflation rate rose to 21.82 per cent in January 2023 , a significant increase of 0.47 percentage points compared to 21.34  per cent recorded in the previous month of  December 2022, according to the latest  Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) . Similarly, the […]