Economy Archives - Business Journal

Following the order of Honourable Justice A.I. Chikere of the Federal High Court, Abuja division, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited over an indebtedness of over  N400 million. Justice Chikere gave the order on June 5, 2020.

The Consumer Price Index report released yesterday shows that headline inflation increased to a 22-month high of 12.2% Y-o-Y in February 2020, from 12.1% in the previous month. A report by Afrinvest Research says the marginal rise in inflation suggests that the recent VAT increase is yet to be fully captured. Similarly, core inflation rose

  (L-R) Prof. Njuguna Ndung’u, Executive Director, African Economic Research Consortium; Alhaji Sani Nanono, Honourable Minister of Agriculture and Rural Development and  Mr. Isaac Okoroafor, Director, Corporate Communications, Central Bank of Nigeria at the opening session of the 22nd Senior Policy Seminar in Abuja. Food and nutrition security dominated discussions at the just concluded Senior Policy

The dramatic spread of COVID-19 has disrupted lives, livelihoods, communities and businesses worldwide. But the sum of many individual actions by stakeholders around the world will not add up to a sufficient response. Only co-ordinated action by business, combined with global, multi-stakeholder cooperation can mitigate the risk and impact of this unprecedented global health emergency.

  Overall, African equity capital market (ECM) activity in 2019 declined sharply both in volume and value from 2018, with 2019 posting the lowest proceeds raised in ten years. The general slowdown in equity markets was largely driven by a series of macro-economic factors including an ECM deceleration in global markets, caution in the period

      The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has issued an Expression of Interest (EOI) calling for submissions from institutions who wish to work as Transaction Parties for a possible Issuance of Eurobond of up to $3.30 billion in the International Capital Market in 2020. The

    Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) made the following remarks at the G20 Finance Ministers and Central Bank Governors Meeting in Riyadh, Saudi Arabia on the economic impact of coronavirus. “While the impact of the epidemic continues to unfold, the WHO’s assessment is that with strong and co-ordinated

  The International Monetary Fund (IMF) says its growth forecast for 2020 for Nigeria was revised down to two (2) percent to ‘reflect the impact of lower international oil prices.’ It also says that ‘Inflation is expected to pick up, while deteriorating terms of trade and capital outflows will weaken the country’s external position.’ A

The failure of many airlines in Nigeria and why those that are still operational are struggling for survival is attributable to a litany of peculiar Nigerian problems including greed exhibited by airline owners; financial rascality, overbearing charges and taxation by regulatory agencies; unpredictable and unstable forex; non-existent good corporate governance principles; lack of due diligence

The hiring market has changed dramatically over the last year. The unemployment is at a 50-year record low 3.5% and competition for top talent is fierce. IBM reports that “90% of the S&P 100 are recruiting for the same 37 in-demand jobs.” Getting ahead of the talent acquisition race starts with learning about next year’s biggest trends, topics, and innovations.

The mood among Africa’s reinsurance executives has become more bearish as declining rates and rising claims weigh on the profitability of the African reinsurance markets with a current premium volume of roughly US$ 7.5 billion. While Africa’s economies are still recovering from the commodity crisis of 2016, which highlighted the continent’s vulnerability to external shocks,

Nigeria has one of the highest company income tax rates globally which is a disincentive for business growth, Tax leader, PwC Nigeria, Taiwo  Oyedele has said. He spoke on Saturday at the Finance Correspondents Association of Nigeria, FICAN annual workshop themed “Unlocking Opportunities in Nigeria’s Non-Oil Sector.” According to Oyedele, Nigeria is in the top 10 in