Business is war.
Nigerian inflation rates are projected to fall below 17 percent for the seventh straight month, driven by improved agricultural output and foreign exchange market stability that have strengthened purchasing power. Independent economic surveys indicate consumer price growth decelerated by more than 100 basis points to approximately 16.35 percent, while the naira gained half a percentage…
Agricultural specialists are warning that revival of Nigeria’s cocoa sector through a proposed National Cocoa Management Board depends on substantial investment and disciplined implementation, with stakeholders expressing concern that bureaucratic inefficiencies and corruption that plagued predecessor institutions could resurface. Development Agenda for Western Nigeria Commission director general Seye Oyeleye endorsed the federal initiative while emphasizing…
Global aviation carriers are experiencing annual losses estimated at 60 billion dollars from operational disruptions including unruly passenger behavior, infrastructure deficiencies, flight cancellations and jurisdictional overlaps among regulatory bodies. Disruptive passenger incidents alone account for approximately half that amount, occurring at a rate of one per 568 flights according to International Air Transport Association data,…
Financial analysts are urging Nigerian authorities to reassess plans for implementing revised capital gains taxation scheduled to replace a suspended flat levy with progressive rates reaching 30 percent based on income levels. Muda Yusuf from the Centre for the Promotion of Private Enterprise warned the threefold rate jump could trigger capital flight and discourage investment…
Nigeria’s Securities and Exchange Commission and Federal Mortgage Bank have formed a partnership to establish regulatory frameworks for Sharia-compliant housing finance, targeting citizens unable to participate in conventional interest-based lending programs. The collaboration addresses a housing shortage exceeding 28 million units by developing mortgage products based on risk-sharing principles rather than interest charges. SEC Director…
NASD Plc has admitted a 3 billion naira commercial paper from Jilnas Nigeria Limited, representing the initial tranche of a 10 billion naira program arranged by Pathway Advisors Limited. The 270-day instrument delivers a 25 percent annual yield to investors, with proceeds designated for working capital requirements at the edible vegetable oil manufacturer. Adekunle Alade,…
Nigeria’s Financial Reporting Council has earned International Standards on Accounting and Reporting honors from the United Nations Conference on Trade and Development Intergovernmental Working Group of Experts on Accounting and Reporting, becoming the sole African nation recognized by the international organization. The distinction acknowledges Dr. Rabiu Olowo’s leadership in advancing sustainability reporting frameworks and corporate…
Global Appliances Nigeria Ltd has launched a month-long promotional campaign offering substantial price reductions on its Binatone product lineup at major retail outlets and electronics shops nationwide. Managing Director Prasun Banerjee announced the initiative encompasses energy solutions, kitchen appliances, and household electronics backed by two-year warranties. The discounted range features rechargeable fans with mosquito-repellent capabilities,…
A Lagos equipment and logistics company has initiated legal action against Parallex Bank Limited over allegations that the lender withheld shipping documents for imported machinery valued at more than 7.3 million euros despite receiving full naira payment of 7.15 billion to establish letters of credit. FHT Mega Express Limited filed suit at the Lagos State…
Access Bank has introduced the SME Academy in Nigeria, a training program aimed at reducing the country’s elevated failure rate among small businesses by providing entrepreneurs with critical skills and resources needed for long-term success. The Lagos launch follows a successful pilot in Ghana that produced measurable gains in small enterprise performance, according to Olumide…
