business
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Lagos State Governor, Babajide Sanwo-Olu has called for the support of local and international investors to partner MSMEs and scale up products and services in order to break into AFCFTA and global market. He said with the collaboration, there will be a reasonable return on investment for small businesses in Lagos and Nigeria. Speaking at […]
Governor Babajide Sanwo-Olu has challenged Small and Medium Scale Enterprises (MSMEs) to leverage the opportunities presented by the nation’s economic challenges to grow their businesses and contribute to the nation’s Gross Domestic Product (GDP). Speaking at the opening ceremony of the eighth Lagos MSMEs Exclusive Trade Fair, Governor Sanwo-Olu, represented by Deputy Governor Dr. Obafemi […]
The Corporate Affairs Commission (CAC) has announced the delisting of 91,843 companies from its registry due to their failure to submit their annual returns. This figure represents a decrease of 2,738 companies compared to the initial list of 94,581 disclosed in August 2023. This action underscores the CAC’s commitment to maintaining an accurate and compliant […]
Nigeria’s Point of Sale (PoS) operators are facing a new challenge: a severe shortage of naira cash at banks. This has forced them to return to buying cash from traders and petrol station attendants, often at inflated prices. As a consequence, PoS operators have been compelled to increase their transaction charges by 100%, charging up […]
With just 26 days remaining before the December deadline, the Nigerian National Petroleum Corporation Limited (NNPCL) faces intensifying pressure to fulfill its promise of completing the Port Harcourt Refinery revamp. The state-owned oil company’s November 23rd confirmation that the refinery will be operational by December has ignited widespread skepticism, with analysts expressing doubts about the […]
In a bid to mitigate the economic strain imposed by the removal of fuel subsidies, the Federal Government has announced the imminent commencement of financial assistance under its Presidential Palliative Programme. This initiative aims to provide much-needed relief to vulnerable households and businesses across the country. A statement issued by the Minister for Industry, Trade […]
In a landmark ruling, the Supreme Court of Nigeria has declared that both the old and new naira notes will continue to be legal tender until further notice. This decision effectively reverses the Central Bank of Nigeria’s (CBN) directive to phase out old naira notes by December 31, 2023. The court’s decision was based on […]
Mergers and acquisitions loom as Nigeria’s Deposit Money Banks brace for another round of recapitalization in line with the country’s $1 trillion economy target. Last week, the Central Bank of Nigeria Governor, Olayemi Cardoso, in his speech at the 50th-anniversary dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos, announced plans to recapitalize […]
Dele Alake, minister of solid minerals development, has rolled out strategies to ensure maximum security at mining sites across Nigeria. Alake highlighted insecurity as a major challenge hampering the development of the sector. He said plans were ongoing in partnership with the National Security Advisor and the Ministry of Defence to further the process of […]
In a significant move to address the challenge of poor information dissemination hindering small businesses’ access to government funding, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with Sterling Bank. This strategic collaboration aims to bridge the information gap and ensure that eligible SMEs are informed about and able to access […]
