The former CIBN President says an average Nigerian can still feed with less than #500 on daily basis. President, Chartered Institute of Bankers of Nigeria (CIBN), Prof Segun Ajibola, has said that the naira is still strong within the Nigerian economy, adding that an average Nigerian can still feed with N500, EkoHotBlog gathered. The … Read more
According to Olasanoye, some of the fraudulent activities in banks and other financial institutions may be because the casual workers are not professionals, well-trained, and embittered due to inadequate compensation. The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has said that eighty percent of employees of banks and other financial institutions … Read more
While critics have accused the government of worsening the economy, Sylva put the blame on the Peoples Democratic Party (PDP) led administration. The Minister of Petroleum Resources, Timipre Sylva, has defended how the administration of President Muhammadu Buhari is handling the country’s economy. The Minister made the defense while responding to questions on the economy … Read more
Most people don’t understand the bane of entrepreneurship, that is, the ugly side of starting and sustaining a business. They love the way entrepreneurs looks but don’t understand the enormous tasks and sweat it takes to start, run, and sustain a business. Read Also: Kate Henshaw At 50 The story of this lady is the … Read more
Quarter on quarter, real GDP grew at -13.93% in Q1 2021 compared to Q4 2020 The nation’s gross domestic product (GDP) increased by 0.51 percent in the first quarter of 2021. This is according to the first-quarter GDP report released by the National Bureau of Statistics (NBS) on Sunday. Nigeria had recorded an increase of … Read more
Professor Osinbajo commended the initiative of the Central Bank of Nigeria in the area of direct support and easier credit terms Professor Osinbajo noted that the growth rate 0.11 per cent, though marginal, it is very encouraging The Vice President, Professor Yemi Osinbajo has given the Central Bank of Nigeria thumbs up for its doggedness … Read more
Deputy National President, Rice Farmers Association of Nigeria (RIFAN), Mr. Segun Atho, says rice farmers in Lagos can grow the crop all year round to meet demand. Eko Hot Blog gathered that Atho said that the state could feed itself in the area of rice production, if fully harnessed, including cultivating the crop all-year-round. ” … Read more
The Lagos Chamber of Commerce and Industry says losses of Micro, Small and Medium Enterprises (MSMEs) in Lagos is approximately N2.7 billion, due to the unprecedented Coronavirus lockdown. LCCI’s Director-General, Dr. Muda Yusuf, made this known on Sunday through the LCCI’s Economic and Business Review for 2020 and Outlook for 2021. Eko Hot Blog gathered … Read more
Experts from the private and public sector have identified incentives and investment opportunities as strategic ways to resuscitate the Nigeria economy. This was disclosed during a zoom meeting recently with themed “Invest Nigeria (Opportunities, Guidelines, Incentive) organised by Nigerian Global Business Forum in association with the Nigerian British Business Forum to organise. The experts explained … Read more
Mr Kashifu Inuwa, the Director General, National Information Technology Development Agency (NITDA), have advised Nigerian youths to develop their digital skills to support government effort toward building digital economy. Inuwa gave the advice during an online interactive session with Nigerian youths on the topic: ‘Education, Employment and Technology in Nigeria: Gaps and Opportunities Post COVID-19 … Read more
Africa, home to the richest man in human history, Mansa Musa, one of the eight continents of the world and the cradle of civilization with over 50 countries has had her fair share of the global pandemic, coronavirus. Various national governments on the continent are on high alerts in putting strategic measures in place to … Read more
The American University of Nigeria, Yola owned by former Vice President and PDP Presidential aspirant in 2019, Atiku Abubakar, on Monday sacked over 400 staff. According to a reportage by Sahara Reporters, the Sack Letters were signed by the President of AUN, Dawn Dekle who stated that the university no longer required the services of … Read more
– President Buhari replaces Economic management team with economic advisory council – The Economic Advisory Council (EAC) will advise the President on economic policy matters – The EAC will have monthly technical sessions as well as scheduled quarterly meetings with the President President Muhammadu Buhari has replaced the Economic Management Team with an Economic Advisory … Read more
The Chief Executive Officer and Executive Director of FCMB Bank (UK) Limited, James Benoit, has challenged African economies on the need to look inwards and create wealth that will ensure sustainable development of the continent and reduce over reliance on foreign remittances. Besides, while admitting that Nigeria’s dependence on Diaspora remittances may not just disappear, … Read more
Godwin Emefiele, Governor of the Central Bank of Nigeria, CBN, has begun his second tenure, following the confirmation of his re-appointment by the Senate on May 16. According to a statement by the Director Corporate Communications, Mr Isaac Okoroafor, Emefiele was sworn in by the Bank’s Secretary and Director, Corporate Secretariat Department, Mrs Alice Karau. … Read more
An escalation of the United States and China trade war would drive manufacturing away from both countries and likely cause job losses, but would not change their total trade balances, an International Monetary Fund (IMF) report showed yesterday. The United States and China would see “sizable” losses in manufacturing as capacity moves toward Mexico, … Read more
President Muhammadu Buhari said, yesterday, that the Federal Government was doing its best to correct and reverse the terrible mismanagement the country had experienced in previous administrations in the country. President Buhari, who stated this when he received a delegation of non-career ambassadors, who were at State House, Abuja, to congratulate him on his … Read more
The federal government needs to do more than improving the nation’s Ease of Doing Business (EoDB) ranking to attract Foreign Direct Investment (FDI). Analysts at Lagos-based investment firm, Afrinvest Plc, stated this stressing that attaining higher World Bank’s Ease of Doing Business (EoDB) ranking is insufficient to attracting foreign direct investment (FDI). They stated … Read more