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Firm empowers SMEs, commits to intra-African trade

30.12.2024
Leading trade and investment consultancy, Compass Global Business Services has concluded the second edition of its West Africa Meets East Africa Trade Mission and Business Development Tour. A statement on Saturday by the Chief Executive Officer, Mrs Tokunbo Chiedu, this dual-country initiative, spanning Kenya and Tanzania aimed to unlock the African Continental Free Trade Area...
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China, Nigeria renew $2bn currency-swap deal

30.12.2024
China and Nigeria have renewed a 15 billion yuan ($2bn) currency-swap agreement aimed at enhancing trade and investment between the two nations. The arrangement is expected to bolster financial cooperation and promote the broader use of the yuan and naira in bilateral transactions, according to the People’s Bank of China, as reported Bloomberg and Chinese...
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Shun corporate blackmail, Zinox cautions young entrepreneurs

30.12.2024
The Chairman of Zinox Group, Dr Leo Ekeh, has issued a stern warning to young entrepreneurs about the rising threat of corporate blackmail, drawing from his own experiences in the business world. In a statement to The PUNCH on Friday, the billionaire businessman cautioned that unscrupulous individuals and entities were increasingly resorting to blackmail to...
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Free trade zones will boost exports, FG assures manufacturers

29.12.2024
The Federal Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has assured manufacturers that the country’s free trade zones are designed to accelerate exports and not to harm local manufacturers. Oduwole made this assertion while addressing concerns by local industrial stakeholders at a recent press briefing in Lagos, emphasising that the zones must operate...
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Agric road, electrification projects gulp N18bn – Report

29.12.2024
A report on federal spending has revealed that agricultural access road projects and electricity installations gulped N17.98bn in 2024. The data, sourced from BudgIT’s accountability platform GovSpend, focused on spending by the Federal Ministry of Agriculture and Food Security. It highlighted significant investments in road construction and solar street light installations aimed at enhancing rural...
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Nigeria, others lose $1.6bn daily to illicit flows – AfDB

29.12.2024
The African Development Bank has revealed that the continent loses about $1.6bn every day to illicit financial flows and profit shifting on the part of multinationals operating in Africa. This was disclosed by the Chief Economist of AfDB, Kevin Urama, in an exclusive interview with The PUNCH. According to the International Monetary Fund, illicit financial...
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CBN blames ageing pipelines for oil revenue crash

29.12.2024
The Central Bank of Nigeria has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies. According to the apex bank’s latest economic report for the third quarter of 2024, oil revenue fell by 24.72 per cent to N1.30tn compared to the second quarter of...
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CBN approves Sterling HoldCo’s N75bn additional capital

29.12.2024
The Central Bank of Nigeria has approved the additional N75bn capital raised by Sterling Financial HoldCo to meet its new capital threshold. According to a statement from the firm on Friday, this approval marked the final leg of the capital injection that was achieved through a private placement in September 2024. Since the private placement,...
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MAN demands reopening of sealed Lagos factories

29.12.2024
The Manufacturers Association of Nigeria has called on Lagos State Governor Babajide Sanwo-Olu to reopen factories sealed by the Lagos State Water Regulatory Commission over alleged non-payment of water abstraction fees. In a statement on Friday, MAN described the closures as “unwarranted and ill-timed,” accusing LASWARCO of disregarding ongoing discussions aimed at resolving the disputed...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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