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The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane
Banking

How FG can tackle Nigeria’s debt – Rewane

The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has suggested three ways for Nigeria to tackle its debt challenge. This was outlined In the Financial Derivatives Monthly Economic Update, accessed by The Punch. Outlined options are approaching the International Monetary Fund for a policy support instrument, debt conversion, and […]

S'Korea restores Japan to trade whitelist after years of conflict
News

S’Korea restores Japan to trade whitelist after years of conflict

South Korea has formally restored Japan to its list of countries that receive preferential economic treatment, three years after the neighbors downgraded each other’s commercial status amid a diplomatic conflict fueled by historical grudges. According to Aljazeera, to support the US-led pressure campaign against Moscow for the crisis in Ukraine, the South Korean Ministry of […]

the Commissioner for Insurance, Mr. Sunday Thomas
Business

Insurance claims hit N1.5tn with increased awareness 

Insurance industry statistics has revealed that Nigerian underwriting companies have paid N1.5tn claims to their customers over a six-year period.   The National Insurance Commission reports that claims paid by underwriters have increased with intensified awareness and premiums.     Industry experts say prompt claims settlement is the most significant promotion needed to encourage insurance […]

Business featured

Estate surveyors blame land use act for housing scam, land grabbing

The Nigerian Institution of Estate Surveyors and Valuers has expressed concern about the complicated procedure involved in acquiring a Certificate of Occupancy or Governor’s consent in Nigeria, as it has facilitated the practice of land grabbing, racketeering, and other dubious activities that have impacted the sector. According to the President of the institute, Johnbull Amayaevbo, […]

Collapsed building in Banana Island, Lagos State
Business

Engineers demand forensic investigation of collapsed Lagos building

The Nigerian Institution of Structural Engineers has suggested carrying out a forensic investigation into the building collapse that took place at Close 102, 1st Avenue, Banana Island in Lagos. This was revealed in a  report titled “Preliminary Report of the Building Collapse at Close 102, 1st Avenue, Banana Island, Lagos”, accessed by The Punch. According […]

6000 brands receive certification from SON
News

SON reaffirms commitment to Halal product standards

The Nigerian Standards Organization has reaffirmed its commitment to leading initiatives that advance the creation of Halal product standards. The Punch reported that in a statement, the director general of SON, Mallam Farouk Salim, stated that this would be carried out for both domestic and overseas consumers by generally recognized standards. Salim made this statement during the meeting […]

Subsidy: Oil marketers request transition plan against handing over 
News

Subsidy: Oil marketers request transition plan against handing over 

  Oil marketers have requested that the government of Nigeria establish a plan to transition away from fuel subsidy following handing over in May 29th. The Managing Director, CEO of 11 Plc and previous Chairman of the Major Oil Marketers Association of Nigeria, Tunji Oyebanji, made this recommendation while discussing the Nigerian International Energy Summit […]

Infrastructure Concession Regulatory Commission. Source: Wikipedia
Business

FG’s cassava investment to yield N105bn – ICRC

The Infrastructure Concession Regulatory Commission has disclosed that the Federal Government’s investment of N15.4 billion in cassava will yield N105 billion in revenue over the next five years. The announcement was made in a statement released on Saturday by the ICRC and accessed by The Punch. The statement indicates that the Cassava Bio-ethanol Value Chain […]

Old naira notes
Business

Anambra community alerts CBN of fake naira notes in circulation  

The President-General of Umueri community in Anambra State, Ambassador John Chukwudi Metchie, has informed the Central Bank of Nigeria and security agencies about the circulation of counterfeit N200 notes in the Otuocha Market area. According to the Daily Post, he cautioned commercial motorcycle operators against collaborating with criminals to commit crimes in the area. He […]

AfDB partners ILX to increase investment in Africa
Business

AfDB partners ILX to increase investment in Africa

The African Development Bank and ILX Management B.V. have a contract to increase investments in the regional members of the Bank Group. The agreement, according to a statement from the bank, would also help institutional investors raise money for initiatives on the continent that are aimed at addressing climate change and the Sustainable Development Goals. […]

Nigeria's mineral production rose by 39% in 2021 - NBS
Business

Diesel price rose 56% in one year – NBS

The price of Automotive Gas Oil popularly known as Diesel rose by 55.90 per cent to N836.81 per litre from the cost N539.32 in 2022. This was disclosed through a report titled “Automotive Gas Oil, Diesel Price Watch” by the Nigerian Bureau of Statistics which also revealed prices across every state in the country. Stating […]

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