Tech failure ground airlines, banks, media as outage ripples across globe

Managing Systemic Risks in Tech: Lessons from Finance

Business a.m. A worldwide technological breakdown on Friday brought flights to a halt, crippled banking and healthcare systems, and silenced media channels across the globe, in a significant disruption that laid bare the reliance of businesses and services on a small number of software providers.  Initial investigations by cybersecurity company CrowdStrike confirmed that the outage […]

Nigeria taps AfCFTA Guided Trade Initiative to fuel economic growth, continental leadership 

Business a.m.  Doris Uzoka-Anite, minister of industry, trade, and investment; George Akume, secretary to the government of the federation; and Olusegun Awolowo, national coordinator, Nigeria AfCFTA Coordination Office, during the  Guided Trade Initiative launch in Apapa,Lagos, recently. Nigeria has embarked on a historic endeavour with the launch of the Guided Trade Initiative (GTI) under the […]

Tinubu, organised labour agree on N70,000 new minimum wage

Business a.m. The federal government and representatives of Nigeria’s organised labour , the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), have agreed on a national minimum wage of N70,000.  The crucial decision was reached during a just concluded meeting held at the State House in Abuja, where the president also promised to review […]

Tinubu seeks N6.2trn budget boost, amendments to finance act in 2024

Business a.m. President Bola Tinubu has officially communicated his request to the National Assembly for an upward adjustment of the 2024 appropriation act by N6.2 trillion. The President’s request was revealed in a letter read by Senate President Godswill Akpabio during the upper legislative chamber’s plenary session on Wednesday.  Tinubu’s recent request to increase the […]

Nigeria targets $50bn economic upswing with AfCFTA trade debut

Onome Amuge Nigeria has officially commenced trade under the African Continental Free Trade Area (AfCFTA) agreement, reaffirming its dedication to maximising the potential benefits of the agreement for both small and large Nigerian businesses. With a projected $50 billion in benefits, the Nigerian government sees the AfCFTA as an opportunity to tap into the African […]

IMF lowers Nigeria’s 2024 economic outlook to 3.1% amid weak Q1 performance

IMF bullish on global, Nigeria growth, FBNQuest analysts bearish

The International Monetary Fund (IMF) has revised its previous prediction for Nigeria’s economic growth in 2024, lowering the forecast from an initial estimate of 3.3 percent to 3.1 percent. This downward adjustment, according to the IMF, was driven by the weaker economic growth recorded in the first quarter of the year, signaling a potential slowdown […]

CBN to pursue dovish interest rate hike in H2’24, say analysts

ONOME AMUGE IN LAGOS Financial analysts at Cowry Asset  have suggested that the Central Bank of Nigeria (CBN) is expected to implement a moderately dovish interest rate hike, ranging from 25 basis points to 75 basis points in the second half of 2024, against the consecutive hawkish rate hikes witnessed in the first half of […]

Global ambition seen in Access Bank’s $1bn UK goal with rights issue on tap

*Eyes being among Top 20 UK banks by 2027 *Among top 5 African banks, leading banks globally *Targets 125m customer base *Ambitious $1.5bn capital raising programme on PHILLIP ISAKPA IN LONDON & ONOME AMUGE IN LAGOS Access Bank, the  arrowhead of Access Holdings Plc, Nigeria’s largest financial institution by assets and customer size, and Africa’s […]

Tinubu reinstates HYPREP coordinator after Ogonis set agenda for Adekanbi

Ben Eguzozie In just one day after some factional leaders of the Ogonis set an agenda for Olufemi Adekanbi, who was appointed project coordinator of the Hydrocarbon Pollution Remediation Project, President Bola Tinubu has sanctioned the reinstatement of sacked Nenibarini Zabbey to the post. Zabbey, a professor, was sacked on Saturday and Adekanbi appointed to […]