Buhari to delay financial autonomy for states’ legislature, judiciary
Businessam Staff
June 9, 2020
President Muhammadu Buhari has succumbed to pressure from governors of the 36 states of the federation to slow down the implementation of Executive Order 10 of 2020 on financial autonomy for the legislature and judiciary at the sub sub-national level. The president, after a meeting yesterday in Abuja with a delegation of the Nigeria Governors’ […]
Expert pushes for Naira as West Africa’s reserve currency
Phillip IsakpaJune 7, 2020
But analysts say it’s a tough nut to crack A London based derivative expert is pushing for Nigeria to use the enormous market intelligence provided by the prolonged closure of its land borders, as well as the opportunity offered by the outbreak of the coronavirus pandemic to push the country’s currency, the Naira, […]
AfDB board authorises independent review of ethics committee report
Businessam StaffJune 5, 2020
The Board of Governors of the African Development Bank (AfDB) has authorised an independent review of the Report of the Ethics Committee of the Boards of Directors on the complaint by whistle-blowers against the President of the Bank, Dr. Akinwumi Adesina, the sole candidate for the bank’s upcoming election. The independent review, the board said, […]
AfDB: My accusers have no evidence – Akinwumi Adesina
Businessam StaffJune 5, 2020
Akinwumi Adesina, the embattled president of the African Development Bank, has said his detractors have no evidence to back their allegations against him. The ethics committee of the bank had investigated Adesina and exonerated him of all 16 allegations filed against him but the US, a major stakeholder in the bank, demanded a fresh, independent […]
Buhari nominates Okonjo-Iweala to head WTO
Businessam StaffJune 5, 2020
President Mohammadu Buhhari has approved the nomination of a former Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, for the position of director-general of the World Trade Organisation. TheCable reported that Buhari withdrew the candidacy of Yonov Agah, Nigeria’s permanent representative to WTO, for the same position. The election is scheduled to hold in Geneva, Switzerland […]
World Bank, AfDB, inaugurate $550m solar off-grid power plants to serve 30,000 MSMEs, 300,000 households in Bayelsa
Ben EguzozieJune 4, 2020
…targets universities, teaching hospitals in Nigeria Global money lender, the World Bank and African Development Bank (AfDB), in collaboration with the Rural Electrification Agency (REA) under the Nigeria Electrification Project (NEP), have commissioned multiple solar off-grid power plants, with a total capacity of 134.64 kilowatts (kW) in communities in Bayelsa State. The project, which comes […]
Presco, MTN, StanbicIBTC, 15 other coys aid N12bn gain in Nigeria stock market deals
Omobayo AzeezJune 4, 2020
By Omobayo Azeez Presco Plc, MTN Nigeria, Stanbic IBTC and 15 other listed companies were major beneficiaries at the close of Wednesday’s trading session on the Nigerian Stock Exchange which recorded N12 billion in gains. The day’s outcome was a continuation of positive sentiment that has charaterised the market since the week opened on Monday […]
Senate summons finance minister over N1.8trn power intervention funds
Businessam StaffJune 4, 2020
The senate committee on power, said on Thursday that it has perfected plans to begin a three-day investigative hearing with the purpose of ascertaining how the N1.8trn injected into the power privatisation exercise by the Federal Government between 2013 till date, was utilised. The privatisation exercise was consolidated on September 13, 2013, during the tenure […]
P&G advocates strengthening intra Africa trade at American Business Council’s AfCFTA webinar
Businessam StaffJune 4, 2020
Proctor and Gamble, the American multinational consumer goods company with a strong presence in Nigeria, says it is a firm believer in strengthening intra Africa trade and that small and medium enterprises (SMEs), as the bedrock of any economy, it was imperative to enable interventions that support their competitiveness and strengthen industrialization in Nigeria and among […]
Senate queries CBN over $3.3bn unremitted foreign tax
Businessam StaffJune 4, 2020
The senate has queried the Central Bank of Nigeria over alleged unremitted $3.3bn from the $21.3bn collected by the Federal Inland Revenue Service as foreign tax in 2015. The public accounts committee of the red chamber issued the query after its meeting on Wednesday. The senate panel said it acted on an audit query raised […]