Business & Economy

CBN plans to Boost its Development Financing Operations to Help SMEs

The CBN has launched major development initiatives in key sectors like agriculture, industry, and small and medium-sized enterprises (SMEs).

Bakery Sector suffocated by high raw material costs, according to Nextar CEO.

The bread industry is a large industry that has contributed significantly to the country's economic development; the truth is that bread is one of the most stable foods on every Nigerian table, making it one of the largest employers of labour; as a result, many young people have been taken off the streets.

Bank authorities plot Bitcoin's strictest capital regulation

Digital currencies issued by central banks are not included in the plans.

Naira Vs Dollars: Reps Cautions CBN Governor Over Crash in Naira

Naira is fighting with the world's biggest currencies. The pricing of goods has reflected that.

Bitcoin Barrels Become a "Death Cross" as the Chartist Backdrop Darkens

The last time Bitcoin hit a death-cross was in November 2019, when it was down roughly 5% a month later.

Africa in fragile position on energy transition, investment - OPEC

Energy stakeholders must unite on this issue to ensure an equitable distribution of energy that leaves no one behind

BREAKING: Cement Price to Crash Ready To Sell at N1,800 Per Bag

He said, “WASU, hereby, demand powerfully that price of cement be reviewed to status quo (N2, 450 viz $5 per bag) with immediate effect so as to ameliorate the burden on the people.

Nigerians Banned From Depositing More Than 5k dollars Monthly by CBN

Hans Essaadi Appointed new CEO of Nigeria Breweries Plc.

Essaadi was apponted after Mr Bel resigned in order to pursue another opportunity within the Heineken Group

The CBN has taken the N379/$1 exchange rate off its website.

Nigerian government had decided to use the NAFEX exchange rate as the official conversion rate for FAAC allocations

Nigeria receives the final collection of assets needed to combat pirate attacks

PenCom Publishes a list of Businesses that may be Eligible for Government Contracts

States that Elected Biden in the 2020 Lost the Most Jobs During the Pandemic

Connecticut, Hawaii, Vermont, Maryland, and New Jersey, the five states that lost the most jobs, supported Biden.

The Mastercard Foundation and Data Science are aiming for a $100 million investment in an e-platform

The total amount of cryptocurrency traded in Nigeria on a peer-to-peer platform has surpassed $1.5 billion

With crypto-currencies, we see an alternative, a way to rest the financial system

#Crypto: After the Cryptocurrency ban, Bitcoin Peer-to-Peer Trading has Increased by 27% in Nigeria.

Nigerians are using peer-to-peer Bitcoin trading sites to get around government limits on crypto exchange accounts.

Three months ago, e-payment transactions totaled N60.34 trillion — NIBSS

cell phones and tablets have become the most used platforms for NIP transactions in recent years

Dangote Cement Sales Factory Price At N2,450 to N2,510 Per Bag including VAT

...suggests that Nigeria's price is comparable to or lower than prices along the West African coast.

CBN launches talents, artwork and skills competition

In recognition of Global Money Week 2021, the CBN is hosting a social media challenge.

CBN Imposes ₦6.9 Fee On USSD Transactions

The charges, according to the CBN, were part of the agreements reached after banks and telecommunications firms met on Monday

Nigeria’s inflation rises to 17.33% in February – NBS

In February, the CPI rose by 17.33% year over year, according to the bureau.

SunTrust Bank boosts SMEs with N23.96bn loan in 12 months

Despite the threats to growth, the bank will take advantage of the opportunities presented in the coming financial year to improve earnings, profitability, and asset quality to deliver value to our esteemed shareholders

Mastercard, Visa Stops Payments to Bitcoin-Friendly Pornhub after rape video exposé

The move to disable payments for the Pornhub Premium subscription is permanent, Mastercard said the move by Visa is temporary pending the findings of its own investigation.

SAD! $1 is changed at N500 after new rates by CBN

Poor exchange Rate for Nigerians

Naira Falls to Weakest Level In 6 Weeks at Black Market Despite CBN Modifying rate

It altered the rate at which bureaux de change could sell the naira from 386 by 1.56 percent to 392 per dollar, CBN said in a circular issued by Bloomberg to dealers on Monday.

Naira weakens against dollar on black market amid liquidity drop

Before inching up to close at a peak rate of N386, the exchange rate had reached an intraday low of N384.

Naira falls across forex markets as dollar supply eases

About September 7 and now, more than $450 million was sold to BDCs by the regulator.

Fresh W’Bank, AfDB, IDB loans may raise Nigeria’s debt to N31.7tn

Conversations are currently underway about the loan offer.

Brand Authenticity, Originality and Believability

how credible and believable are your brand propositions, claims and positions?

Access Bank begins to disburse loans to boost Nigerian health sector

The interest rate for the loan is set at a maximum of 5.0 per cent per year (all-inclusive) until February 28, 2021, making it more open to a wider sector percentage.

Stage two loans could threaten banks’ financial condition

‘Agusto & Co. believes that banks should not be forced to lend as this may encourage weaker risk management practices.

Best Fitness Trackers 2020: Today's Top Activity Bands

filtering up to the best devices can still be a bit of a challenge

CBN unveils plan for closer monitoring of chronic bank loan defaulters from August

creditor banks must "indemnify NIBSS and other Participating Financial Institutions from all liabilities that may arise from inappropriate use of the GSI infrastructure

Opay shuts down operations in Nigeria

shutting down the venture was in an effort to restructure its business framework.

ONLINE SHOPPING IN NIGERIA WITH BUILDERSMARKETLTD.COM

SHOP ON BUILDERSMARKETLTD.COM simplify procurement process by offering one stop online Shopping Marketplace for industrial, business, personal projects.

NBC orders DSTV to suspend implementation of new tariffs

The order was released Tuesday by Mr Armstrong Idachaba, the Acting Director-General of the Nigerian Broadcasting Commission, NBC.

6 million households await meters as DisCos braces for new electricity tariff

The new tariff is service reflective, so customer that enjoy premium services are expected to pay higher tariff based on the guaranteed hours of availability and service quality.

Merchandise Trade Points to 27% Decline This Quarter, 20% For 2020, Report Says

Data for March shows that as the pandemic took hold in Europe, imports of medical equipment jumped by 21 per cent in the region while continuing to increase in China (41%).

IITA Gives Helping Hand to Cameroonian Farmers

The second part of the exercise was the inauguration of a water supply system for the cooperative UGILE, headed by Mbassi Fabienne, at Lendon ll, a village in the Centre Region.

In Tanzania, Horticulture is Turning a Cash Cow for Youths

The vision of the scheme is to empower Tanzanian youths to participate fully in agricultural development, contribute to economic growth, and address the challenge of unemployment.

ILO Presses Governments on Plight of Trapped 200,000 Seafarers

The seafarers are being trapped because of measures to contain the rampaging COVID-19 pandemic.

Biodiversity Safeguard Guidelines Helping Businesses Adapt to COVID-19 Pandemic, UNCTAD Economist Says

Sales by BioTrade companies and initiatives have steadily increased over the years, from $40 million in 2003 to $6.7 billion in 2019, offering great growth potential for companies like Salay Shae Saung.

UNCTAD Moves to Boost Sustainable Blue Economy, Names Special Adviser

She is the fastest woman to sail around the world, a philanthropist, ocean conservation advocate and entrepreneur.

UN Unveils Fresh Initiative to Help Developing Countries Build Trade Resilience amid COVID-19 Crisis

The project which was launched in May will implement UN solutions, standards, guidelines, metrics, tools and methodologies.

Rystad Energy Projects Total Oil Demand in 2020 to Fall to 88.1 Million BPD as US Inventories Rise

Its estimates show that total oil demand in 2019 was approximately 99.5 million BPD, which is now projected to fall to 88.1 million BPD in 2020.

ILO: COVID-19 Pandemic Affects Youths Disproportionately

ILO says more than one in six young people have stopped working since the onset of the COVID-19 pandemic while those who remain employed have seen their working hours cut by 23 per cent.

COVID-19 Crisis: What We’ve Been Doing Backstage, By ILO’s Director

we have developed a number of tools for EBMOs to use with their members, ranging from ways of dealing with COVID-related workplace issues

COVID-19 Crisis Gives Fresh Impetus to Kiribati’s ICT, e-Commerce Efforts

Access to financing is also limited as the country’s small banking system is not well-positioned to fully cater to the needs of the private sector through business lending.

Latest UNCTAD Report Says Merciless COVID-19 Cuts Global Trade Values in 2020 Q1

UNCTAD will release a new monthly trade nowcast, which will provide quarterly nowcasts for merchandise trade.