The Infrastructure Concession Regulatory Commission has granted compliance certificates to 107 Public-Private Partnership projects in the country since the inception of the commission in 2008. The Director-General, ICRC, Chidi Izuwah, said this on Friday in Abuja during a press briefing on the forthcoming conference on strengthening women’s involvement in the PPP projects. Giving a breakdown […]
BUSINESS AND ECONOMY
Nigeria makes World Bank’s list for top-20 “improvers in doing business”
The World Bank Doing Business (DB) team has announced Nigeria as one of the top-20 improvers in doing business out of 190 countries. Dr Jumoke Oduwole, Special Adviser to the President, Ease of Doing Business, disclosed this a statement in Abuja. She said that the announcement came ahead of the Oct. 24 release of the 2020 […]
We did not divert finances to other businesses, natural disaster reason for non settlement of returns on investment – Galaxy transport
By Raphael Jov The management of Galaxy Transportation and Constructions Services Limited, has said failure to settle returns of investment for five months was attributed to natural disasters arising from flood and mining site in Jere and earth tremors in Abuja, which led to the suspension of quarry activities by the federal government. In a […]
FG to address the bottlenecks faced by SMEs to boost the economy
By Victor Akaa, Abuja The Federal government has promised to address the two key burning issues bordering on funding and multiple taxation affecting the Small and Medium Enterprises (SMEs) to enable them perform maximally in the country. The vice President of Nigeria, Prof. Yemi Osibanjo gave the assurance in the occasion of the 2019 Abuja […]
CBN imposes extra charges on cash deposits, withdrawals
Withdrawals and deposits of physical cash in Nigeria will now attract processing fees payable by individuals or corporate owners of bank accounts involved. Nigeria’s central bank said the measure was put in place to encourage its cashless policy and will take effect on September 18 in Lagos, Kano, Rivers, Ogun, Anambra, Abia and Nigeria’s capital […]
Chat commerce key to growing Nigerian businesses –Van Rensburg
Nigerian businesses can be successful and better managed, if there is a cost-effective way of handling transactions, reducing purchasing risk by increasing social interaction and personalisation of shopping experience through chat commerce. This was the view of the chief commercial officer, Clickatell, Hannes Van Rensburg, who spoke to newsmen in Lagos, recently. Describing Nigeria as a […]
Four banks generate N24.3bn from account maintenance charges
Between January and June 2019, four leading banks generated N24.3bn from account maintenance charged on their customers’ accounts, investigation has shown. This is an increase of about 19.18 per cent from N20.39bn generated in the corresponding period in 2018. Some banks on monthly basis charge their customers N50 with or without card while some deduct […]
How to make Banker’s Acceptance on trade finance successful
A Banker’s Acceptance (BA) is a draft drawn on and accepted by a bank, unconditionally ordering payment of a certain sum of money at a specified time in the future to the order of a designated party. Since the instrument is negotiable, title to it is transferred by endorsement. It is a marketable instrument and allows […]
Unregistered SIM cards drop to 2.4 million
The Federal Government on Monday announced that the number of unregistered SIM cards in the country had dropped from 9.2 million to 2.4 million, just four days after it ordered the blocking of the defaulting mobile telephone lines. Minister of Communications, Dr Isah Ibrahim, gave the update on the status of the unregistered SIM cards […]
Buhari relieves Osinbanjo as head of economic team
By victor Akaa, Abuja President Muhammadu Buhari has constituted an Economic Advisory Council (EAC), according a statement Special Adviser to the President on Media and Publicity, Femi Adesina. The advisory council replaces the current Economic Management Team (EMT) and is to report directly to the President. Vice President Yemi Osinbajo, before now headed, Economic Management […]