Insecurity, Others Cut Nigeria’s Foreign Investments to $875m, Lowest in 5 Years
The spate of security crises, a tough business climate, and policy inconsistency are among the factors that cut Nigeria’s Foreign Direct Investment (FDI) to $875 million in the second quarter of this year, the lowest since 2016. This was contained in a presentation by the Chairman, Presidential Advisory Committee on the Economy, Prof. Doyin Salami, […]
AfDB, MTN Sign $500,000 Grant to Ease Women’s Access to Finance
The African Development Bank (AfDB)’s initiative, through the Africa digital financial inclusion facility (ADFI), and Y’ello digital financial services (YDFS), the fintech subsidiary of MTN Nigeria, have signed an agreement for a $500,000 grant initiative to enhance women’s access to financial services in Nigeria. The grant from ADFI enables Y’ello digital financial services to acquire […]
Financial Firms Should Disclose Emissions From Activities They Fund, group says
The world’s banks, asset managers and insurers should provide more information to investors about the greenhouse gas emissions from the activities they finance, a group that tracks emissions data said on Wednesday. CDP, which maintains a system used by hundreds of companies, cities, states and regions to voluntarily disclose their emissions data, published a report […]
Judiciary, Parliamentary Workers Press Home Demand for Financial Autonomy
The agitation for autonomy for the judiciary and parliamentary arms of government has assumed a different dimension since workers in both sectors embarked on an enduring strike to press home their demands, write Alexander Enumah and Oñyebuchi Ezigbo In a bid to resolve the deadlock over the agitation for financial autonomy by the judiciary and […]
South Sudan Authorities Arrest Two People With $1.8m Counterfeit Cash
South Sudan’s Internal Security Bureau of the National Security Services in Juba has apprehended two people believed to have counterfeited more than $1.8 million. Addressing a press conference on Tuesday, David John Kumuri, National Security director of Public Relations, said the suspects were arrested in separate operations. “The two suspects were respectively apprehended in possession […]
Currency Outside Banks Rise 55 Percent to N2.3trn in 5yrs
Currency outside the banking system rose sharply by 55 per cent to N2.3 trillion in 2020 from N1.46 trillion in 2015, as Nigerians had to spend more on goods and services in response to sharp naira depreciation within the past five years. Data from the Central Bank of Nigeria, CBN, obtained by Vanguard shows that […]
Borrowing Goes Through the Roof As EA Amasses U.S.$73 Billion in External Debt
Countries in the region have seen increased borrowing over the past decade, amassing $73.8 billion in external debt. The International Debt Statistics 2021 report by the World Bank shows that between 2009 and 2019, countries in the region increased external borrowing by nearly four times, from $19.9 billion to $73.8 billion. During the period, Kenya […]
Enugu State Governor Rewards Woman For Returning N13.9 Million She Received In Error
In appreciation of the outstanding and exemplary honesty, she displayed in returning the sum of 13.94 million mistakenly paid into her account, Governor Ifeanyi Ugwuanyi of Enugu State, on Tuesday, rewarded Josephine Chukwujama-Eze, with a cash of N 1 million. The cash reward was announced by the State Commissioner for Gender Affairs and Social Development, […]
Sudanese Pound Hits Record Lows Against World Currencies
The rate of the Sudanese Pound (SDG) is trading at all-time lows on the streets of Khartoum. There is no end in sight for the ongoing economic malaise in the country – largely a legacy of the corruption and mismanagement by the deposed Al Bashir regime – that has led to unrelenting price hikes for […]
Money For Combating Violence Against Women Misused, Mexican Official Says
Money intended for a national program to combat violence against women has been misused, a top Mexican official said on Tuesday, confirming a media probe saying the funds were spent on key-rings and refrigerator magnets as promotional tokens for the campaign. Such use of funding intended for national, state and local governments to help support […]
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