Economy

By William Emmanuel Ukpoju Africa's economic landscape in 2024 is characterized by a mix of resilience and challenges, with South Africa emerging as the continent's largest economy, according to the latest IMF data. Despite facing…
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The Kaduna Internal Revenue Service (KADIRS) has sealed branches of the United Bank for Africa (UBA) in the state capital over an alleged refusal to pay N14.3 million in tax. Hajiya Aysha Ahmad, the KADIRS Board Secretary and Legal…
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Central Bank of Nigeria, CBN Nigeria’s external reserves shed $2.16 billion in the past month, falling to a seven-year low of $32.29 on April 15, 2024, from $34.45 billion on March 18, 2024, according to CBN data. A recent Bloomberg…
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By William Emmanuel UkpojuIn a significant development for Nigeria's economic future, President Bola Tinubu has launched the National Single Window initiative, signalling a major shift in the country's trade dynamics.  According to…
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By William Emmanuel Ukpoju At a recent gathering of Nigeria’s political leaders in Lagos, President Bola Tinubu delivered a message of economic optimism, forecasting a robust turnaround for the nation’s economy by December 2024. …
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By William Emmanuel Ukpoju In a recent development, the Economic and Financial Crimes Commission (EFCC) has declared a crackdown on establishments within Nigeria that demand payment in dollars for services rendered. EFCC’s…
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By William Emmanuel Ukpoju In a decisive move to reinforce the stability of Nigeria’s financial system, the Central Bank of Nigeria (CBN) has issued a new directive that restricts the use of foreign currency as collateral for naira…
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By William Emmanuel Ukpoju FBN Holdings, the parent company of First Bank — one of Nigeria’s premier banks — is gearing up for a significant capital infusion as the group has announced plans to propose a capital raise of up to N300…
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By William Emmanuel Ukpoju The surge in costs of staple foodstuff such as rice, beef, beans, garri, and yam is putting a significant strain on consumers' wallets, prompting concerns about food affordability and accessibility, as…
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By William Emmanuel Ukpoju In a bid to revolutionize agricultural practices in Nigeria, the African Export-Import Bank (Afreximbank) has awarded a substantial $100,000 grant to the American University of Nigeria (AUN). The…
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