Business – Page 38 – Rise Africa

Rate Cut Lifts Private Sector Borrowing by N380bn in Nigeria

13.04.2026

Private sector borrowing rose by N380.85bn in February 2026, reflecting a modest increase in credit to businesses and households following the Central Bank of Nigeria’s decision to cut interest rates during the month. Data obtained from the Central Bank of Nigeria on its money and credit statistics showed that credit to the private sector increased...

How a Bank-Telco Alliance Can Tackle Rising Digital Fraud

13.04.2026

The Central Bank of Nigeria and the Nigerian Communications Commission have been urged to enable deeper data-sharing between banks and telecommunications operators as part of a coordinated push to curb rising digital fraud. The intersection with financial services is amplifying risks for telecom operators, which now underpin digital payments and banking partnerships. In Nigeria, where...

VC & Academia Unite to Reshape Public Art in Nigeria

13.04.2026

A landmark intersection of venture capital and academia was established on Thursday as a new three-year partnership was announced to redefine the landscape of public art and entrepreneurial learning in Nigeria. The collaboration, a joint initiative between the Yemisi Shyllon Museum of Art and Ventures Platform, introduces a first-of-its-kind national art commission, the Ventures Platform–YSMA...

Stakeholders Push for Bankable Infrastructure Projects in Ni

13.04.2026

Infrastructure stakeholders have called for a significant increase in the number of bankable projects in Nigeria, urging that projects that have reached financial close should rise from about six per cent to at least 15–20 per cent. This is amid growing public and private sector interest in infrastructure development. They made the call during the...

Mikano refutes allegations, insists on corporate integrity

12.04.2026

Mikano International Limited has strongly refuted allegations published in a report by an online media platform (not The PUNCH), describing the claims as false and baseless, while reaffirming its commitment to protecting its corporate reputation. In a statement on Saturday, the company denied any link between its Chairman, Mr Mofid Karameh, and criminal activity, insisting...

Nigeria’s Export Surge Signals Maritime Sector Growth

12.04.2026

The Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, has said that Nigeria’s maritime sector is demonstrating remarkable resilience and momentum, with a dramatic surge in export volumes positioning the country as an emerging force in global trade. According to a statement on Thursday, Klinke stated this in Abuja while speaking during the opening...

Business

NITDA Urges Firms to Promptly Disclose Cyberattacks

12.04.2026

The National Information Technology Development Agency on Thursday urged organisations to stop concealing cyberattacks, following a recent breach that affected a bank and extended to connected platforms, including Remita. The agency warned that hiding such incidents increases risks for other organisations in Nigeria’s increasingly interconnected digital ecosystem. The Nigeria Data Protection Commission is investigating the...

IMF to Cut Global Growth Forecast Due to Mideast War

12.04.2026

The International Monetary Fund will lower global growth forecasts due to the Middle East war, its chief said on Thursday, warning of the conflict’s “scarring effects” despite a fragile ceasefire. “Even in a best case, there will be no neat and clean return to the status quo ante,” IMF managing director Kristalina Georgieva said. Georgieva said...

World Bank clarifies stance on Nigeria fuel imports

12.04.2026

The World Bank Group has clarified its position on fuel imports in Nigeria following backlash over recommendations contained in its latest Nigeria Development Update, as criticism mounts from policy commentators and social media activists. In a statement sent to The PUNCH on Friday, the bank said its April 2026 report, released on April 7, included...

Business

Tax Reforms Must Support Economic Growth in Nigeria

12.04.2026

The Manufacturers Association of Nigeria has called for a tax system that goes beyond revenue generation to a tax system that actively drives production and economic growth. The Chairman, MAN, South-East Zone, Mrs Adaora Chukwudozie, made the call on Thursday, during a stakeholders’ engagement in Enugu organised by the Enugu State Internal Revenue Service, Nigerian...