Bank recapitalisation: Financial experts, economists, development analysts weigh in
Post AMUGE
April 9, 2024
Requires dilution of strong ownership structure Possibly to drive innovation Lenders to comb the ‘streets’ in search of investors BEN EGUZOZIE Financial experts, economists and development analysts are continuing to weigh in on the ‘way-to-go’ and ‘success rate’ of how banks in Nigeria would come through on the recapitalisation announced by the Central […]
Bayelsa to tap $1.5trn global blue economy with new ministry
Post AMUGEApril 9, 2024
Sector generates $300bn for Africa with 49m jobs – AU Ocean resources, next world’s big economic frontier – World Bank, UN, OECD Nigeria, with 850km coastline, yet to harness BE Ben Eguzozie Bayelsa, a Nigerian oil producing littoral state, is set to tap into the multi-trillion-dollar global blue economy, with the planned […]
ABCON back to CBN with a plea amid losses from dollar allocation
Post AMUGEApril 9, 2024
Onome Amuge The Association of Bureaux De Change Operators of Nigeria (ABCON) has made a passionate plea to the Central Bank of Nigeria (CBN) to review its current foreign exchange rate policy for the CBN-licensed Bureaux De Change (BDCs). Currently, the CBN pegs the exchange rate for BDCs at N1,251/$, but ABCON argues that […]
EnterpriseNG empowers over 100 new graduates through YOE programme
Post AMUGEApril 5, 2024
Joy Agwunobi The EnterpriseNGR Youth of Enterprise (YOE) Internship Programme, an initiative designed to tackle youth unemployment and underemployment in Nigeria, recently marked a major milestone with the graduation of its second cohort of interns. Under the theme “Paving the Way for Career Success,” the YOE graduation ceremony brought together leading employers in the […]
Nigerian Breweries eyes N600bn rights issue to boost capital
Post AMUGEApril 4, 2024
Joy Agwunobi Nigerian Breweries Plc, one of the leading companies in the Nigerian brewing industry, is planning to raise up to N600 billion through rights issues. The move, which is intended to tackle the negative impacts of the devaluation of the Naira and high borrowing costs on the company’s financial health, comes as the brewery […]
Noones Academy Revolutionizes Crypto Trading Education, Empowering the Next Generation of Traders
Businessam StaffApril 3, 2024
[Lagos, 15 April, 2024] – Noones Academy, a leading institution in financial education, is proud to announce its innovative approach to empowering new traders with comprehensive video content available on YouTube and Noones official website, www.noones.com. In a digital age where accessibility and flexibility are paramount, Noones Academy is breaking barriers by delivering high-quality educational […]
CBN rate hike stirs fears of more pain for Nigerian SMEs
Post AMUGEApril 2, 2024
ONOME AMUGE & JOY AGWUNOBI As small and medium-sized enterprises (SMEs) in Nigeria grapple with rising borrowing costs, the Central Bank of Nigeria (CBN) has dealt them a new blow by raising the Monetary Policy Rate yet again. While the move is aimed at curbing inflation, analysts are concerned that the higher interest rates […]
ABCON sees further naira recovery on CBN recall of BDCs to FX market
Post AMUGEApril 1, 2024
Business a.m. The Association of Bureaux de Change Operators of Nigeria (ABCON) sees the recovery of the Naira continuing on the back of the recall by the Central Bank of Nigeria of their members to the mainstream of Nigeria’s foreign exchange market. The association, therefore, commended the CBN for this decision, which it said has […]
Afreximbank, CDP sign €200m facility to boost food security in Africa
Post AMUGEApril 1, 2024
Cynthia Ezekwe In light of the persistent issue of food insecurity in Africa, the African Export-Import Bank (Afreximbank) and Cassa Depositi e Prestiti S.p.A (CDP), an Italian development finance institution, have signed a €200 million Memorandum of Understanding (MoU) to combat food insecurity and support climate-smart agriculture on the continent. The MoU was signed by […]
CBN triggers new round of banking consolidation with N500bn capital base
Post AMUGEApril 1, 2024
Onome Amuge A new round of banking industry consolidation in Nigeria that will see serious boardroom talks in the next two years has been triggered by the Central Bank of Nigeria (CBN) whose Easter 2024 gift to banks was the raising of their minimum capital requirement to N500 billion for those of them with international […]