The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting Approval-in-Principle (AIP) to 14 new International Money Transfer Operators (IMTOs). This was disclosed yesterday by the Apex Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, who stated that the initiative will help increase the sustained […]
Indigenous shippers are currently eying over N11 trillion which they hope to realise from coastal trade annually. They are therefore appealing to the federal government, through the Ministry of Marine and Blue Economy, to ensure that the rights of indigenous shippers are protected. They said foreigners have taken over the coastal trade as a result […]
The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has said many manufacturers in the country spend more money to secure their assets than what they pay as taxes to the government coffers. Ajayi-Kadir stated this, yesterday, while speaking as a guest on Channels Television’s Sunrise Daily programme. According to him, the cost of […]
Ship owners have called on the Minister of Marine and Blue Economy, Adegboyega Oyetola to address encroachment on the function of the Nigerian Maritime Administration and Safety Agency, NIMASA by other government agencies. The ship owners made this call yesterday at a stakeholders’ engagement with the ministry in Lagos. Meanwhile the Minister assured the ship owners […]
Small and Medium Enterprises (SMEs) in the country have been advised to embrace Artificial Intelligence (AI) technology to grow their businesses. Founder AI Nigeria, Ehia Erhabor, made this submission in his presentation titled “Using AI for business innovation” delivered at the Ecobank MySME Growth Series webinar. He emphasied that AI is a gamechanger particularly for small […]
The Association of Motor Dealers of Nigeria (AMDON) has appealed to the Federal Government to lift the restriction on imported vehicles through land borders for the benefit of all Nigerians. The chairman of the group in Sokoto State, Alhaji Manaur Zagi, stated this on Tuesday during a workshop organized by the Nigerian Customs Service, Sokoto/Zamfara […]
Bamboo Global Inc, an online brokerage firm, yesterday launched on its platform Nigerian stocks including blue chip corporations like Guaranty Trust Holding Company PLC, MTN, and Dangote Cement. In a statement, Bamboo said it is ensuring that retail investors will see the fastest trade settlement timelines and the most seamless dividend payment system available in the […]
Chairman, United Bank for Africa Plc, Mr. Tony Elumelu has called for increased focus on capital allocation and investment in innovation to drive improvement in global improvements. Elumelu, who is also the Founder, Tony Elemelu Foundation, TEF, made this call yesterday while speaking at the Abu Dhabi Health Forum in the United Arab Emirates. He said: […]
The National Agency for Science and Engineering Infrastructure (NASENI), said it has started receiving a lot of interest from dealers and the general public of its recently produced products. Recall that NASENI had on Thursday unveiled a set of new NASENI products, developed in collaboration with technical partners. The Executive Vice Chairman/Chief Executive Officer of […]
Transnational Corporation Plc has outlined strategies to build on the 173% revenue growth achieved in the first quarter 2024 (Q1’24). The financial statement of the company for Q1’24 showed revenue growth of 173 per cent to N88.55 billion from N32.39 billion in the corresponding period of 2023 (Q1’22) As a result, Profit Before Tax shot […]
