Commercial Banks’ Borrowing From CBN Drops By 89% in August
The apex bank lends money to banks through the SLF at interest rate of 500 bases points (bps) above the Monetary Policy Rate (MPR).
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Zedcrest Group Appoints Ademola Akogun MD Zedcrest Investment Banking
• Ademola Akogun Zedcrest Group, a leading financial services company, has taken a significant step in its strategic expansion with its Board’s approval of Ademola Akogun’s appointment as Managing Director, Investment Banking. This milestone follows the successful acquisition of the company’s Issuing House license, marking a pivotal expansion of its capabilities. With this, Zedcrest is…
2026:FIRS replacing Companies Tax ID with CAC Numbers
Under the new framework, the Tax ID will unify all previously issued Tax Identification Numbers by the FIRS and state internal revenue services into a single, harmonised identifier.
Nescafé Sources 20% Coffee Thru regenerative agriculture
In 2023, over 20 percent of Nescafé’s coffee was sourced from farmers implementing regenerative agriculture practices. This is disclosed by Nestlé’ in its second Nescafé Plan 2030 Progress Report, released on Tuesday. The report also shows the increased adoption of regenerative agriculture practices, contributing to improved farm yield, and reduced greenhouse gas (GHG) emissions. This data is based…
SEC targets to further migrate Nigerian Capital Market to T+O Same-day Settlement Cycle
The T+1 transition means that securities transactions executed on the Nigerian Exchange Limited (NGX) will now settle one business day after trading, allowing investors to receive cash or securities faster than under the previous T+2 framework.
Cuba laments collapse of iconic sugar industry
Today, sugar receives less than 3% of state investment as the Cuban government backs tourism as its main economic motor instead.
Manufacturers Lament Banks Harassment and Freezing of Corporate and Personal Accounts
A worrisome case in point is the ongoing forex forward-related dispute involving KAM Industries Nigeria Limited, a leading manufacturer in the steel sector in West Africa a member of the Association, and one of the commercial banks in Nigeria.
US slams 12.5% tariff on imports from Nigeria
Nigeria is among the countries subject to the 12.5 percent tariff, while India, Indonesia, Malaysia, Mexico and the United Kingdom will face a lower 10 percent rate after adopting or committing to implement bans on imports linked to forced labour.
Nigeria Tasks ARSO Assembly on AfCFTA
The Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, says that robust synergy and collaboration among African nations and ARSO member states are crucial to implementing the AfCFTA Agreement, particularly in enhancing a Common Regulatory Framework. Dr Uzoka-Anite, stated this while she addressed industry leaders, policymakers, and experts dedicated to shaping Africa’s standardisation landscape,…
WCO Elects Nigeria’s CGC Bashir Adeniji , Chairperson
” Comptroller-General of Nigeria Customs Service, Bashir Adewale Adeniyi, said: “I am deeply grateful for my election as Chairperson of the Council.” The World Customs Organization (WCO) Council, the governing body of the organization, comprising the Heads of 186 Customs administrations, has formally endorsed Mr. Bashir Adewale Adeniyi, Comptroller-General of Nigeria Customs Service, as its…