Nigeria listed in ‘break-out’ zone amongst digitally advanced countries
Businessam Staff
July 31, 2017
Researchers from Fletcher School at Tufts University and Global Enterprise Risk and Security, in an article published in collaboration with the Harvard Business Review (HBR) and the World Economic Forum, have listed Nigeria a ‘break-out’ country amongst world’s most digitally advanced economies. The listing of digitally advanced countries is an outcome of a Digital Evolution […]
Retail e-commerce sales worldwide projected to hit $4 trillion by 2020
Businessam StaffJuly 31, 2017
Retail e-commerce sales worldwide are projected to double in less than three years from now to $4 trillion, according to researchers from Fletcher School at Tufts University and Global Enterprise Risk and Security, in an article published in collaboration with the Harvard Business Review (HBR) and the World Economic Forum. They noted that digital players […]
OPEC, non-OPEC nations set to meet on compliance with oil cut decisions
Businessam StaffJuly 29, 2017
Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on Aug. 7-8 to discuss why some of them are falling behind in their pledges to cut production, according to an OPEC statement. Bloomberg reports that the meeting, co-chaired by Kuwait and Russia, will examine reasons some countries are not fully implementing their […]
MTN not yet in the clear over $14bn forex transfers from Nigeria as Senate withdraws ‘all clear’ report
Businessam StaffJuly 28, 2017
A report that largely exonerated MTN, the South African based and Africa’s largest mobile phone company, of accusations of illegally repatriating $14 billion from Nigeria and that also rebuked the Central Bank of Nigeria (CBN) for regulatory failures has been withdrawn by the Senate, the upper legislative arm of the country’s assembly. International news agency, […]
Nigeria, global financial institutions warned climate change a risk to financial stability
Steve OmanufemeJuly 28, 2017
A framework to govern the disclosure of climate-related financial risk, especially by the financial services industry in Nigeria and all over the world, has been seriously canvassed in a new report just released by the Economic Intelligence Unit (EIU), the London-based research business of the Economist Group. Titled “The Cost of Inaction: Recognising the Value […]
Deficit, surplus countries need major reforms to boost global growth, says IMF
Steve OmanufemeJuly 28, 2017
The International Monetary Fund (IMF) has canvassed major reforms by both deficit and surplus countries to boost global growth while reducing excess external imbalance. This is contained in the IMFBlog of July 28th, 2017. This comes after its latest assessments of external positions for the 29 largest economies indicate that excess current account imbalances—that is, […]
Outlook for South African banks slightly negative on economic gloom, political upheaval
Businessam StaffJuly 28, 2017
The gloom gripping South African economy appears to be spilling over into the banking industry as earnings report for quarter two of one of its largest lender fell following the country entering into recession in the first quarter of 2017. Barclays Africa Group Limited’s income report for the second quarter ended June indicates that total […]
Nigeria equities in longest two-year bull-run, extend gains for 16 consecutive trading sessions
Steve OmanufemeJuly 27, 2017
Nigerian stocks extended gains for the 16th consecutive trading session Thursday to post its longest winning streak in more than two years due to improving sentiment following strong half-year earnings from several listed mid-sized caps. Traders are betting on good corporate half-year earnings releases and on the economy emerging from recession, as well as foreign […]
FBN Holdings sees progressive improvement in non-performing loans, posts N35.6bn H1 profit
Businessam StaffJuly 27, 2017
A strategic curbing of non-performing loans by FBN Holdings is progressively helping its banking arm to reduce its NPL levels from 24.4 percent to 22 percent year-to-date, according to its half year financial report released Thursday and seen by Businessamlive. The company announced gross earnings of N288.8 billion, up 7.8 percent from N267.9 billion recorded […]
Nigerian senate passes bill granting financial intelligence unit autonomy
Businessam StaffJuly 27, 2017
The Nigerian senate Thursday passed the Nigeria Financial Intelligence Agency (NFIA) bill, which grants the agency autonomy and removes it from the control of the Economic and Financial Crimes Commission (EFCC). The bill, which was introduced last Thursday by Chukwuka Utazi, chairman committee on anti-corruption, followed the suspension of Nigeria by the Egmont Group, an […]