Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC) said banks in the country raised N2.2 trillion from the capital market in 2024 to meet the Central Bank of Nigeria’s (CBN) new recapitalization requirements. It would be recalled that in November 2024, the SEC announced that banks had raised N1.7 trillion from the capital…
The Manufacturers Association of Nigeria (MAN) has called for the timely passage of the four tax reform bills currently before the National Assembly. MAN President Otunba Francis Meshioye said the outlook for the manufacturing sector, and by extension, the economy in 2025 will largely depend on the success of ongoing economic reforms, which include the…
Nigeria’s Vice President Kashim Shettima has joined global leaders at the 2025 World Economic Forum (WEF) to champion the African Continental Free Trade Area (AfCFTA) as a transformative tool for Africa’s economic integration. With a bold vision to boost Africa’s economy to $29 trillion by 2050, Nigeria reaffirmed its leadership in driving digital trade and…
Former French Minister of Transport, Mr. Djebbari Jean-Baptiste, has expressed the desire of investors from his country to invest in the transport sector of Ogun State, especially the agro-cargo airport. Other areas of interest for the investors, according to Mr. Jean-Baptiste, are the Dry Port, the Olokola Sea Port, and the railway system. Fielding questions…
Wema Bank Plc has approved plans to raise additional N200 billion in combination of Rights & Special Placement to complete Central Bank of Nigeria (CBN) recapitalization requirement. The bank which pioneered Africas first fully digital bank, ALAT, said it will be completing its capital raise through a combination of a Rights issue and Special placement…
A leading provider of telecom and mobile money services in Africa, Airtel Nigeria has expressed gratitude for the Nigerian Communications Commission (NCC’s) approval of tariff adjustments for telecom operators in the country. Its Chief Executive Officer, Mr. Dinesh Balsingh, who expressed the company’s appreciation of the decision to allow for a tariff increase of up…
Following the recent approval of 50% adjustment in telecommunications tariffs by the Nigerian Communications commission (NCC), the Federal Competition and Consumer Protection Commission (FCCPC) has urged consumers to report any unfair practices or concerns through its official channels to ensure effective resolution. The FCCPC, in a statement by its Director, Corporate Affairs, Ondaje Ijagwu, while…
Vice President Kashim Shettima urged global investors to harness the immense opportunities in Nigeria and across Africa, emphasizing that the continent is poised for economic transformation. He spoke during a forum entitled: “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets,” at the ongoing annual meeting of the 2025 World Economic Forum (WEF) in Davos,…
A former National Assembly member, Bamidele Faparusi, has described those opposing the Tax Reform Bills currently before the parliament as “enemies” of the nation. Faparusi said the opposition to the tax reform bill by some National Assembly members has exposed those who want Nigeria to remain backward and under-developed. The ex-lawmaker representing Gbonyin/ Ekiti East/Emure…
