Nine mega-trends shaping the future of Africa
In August 1963 Martin Luther King Jr delivered his famous “I Have a Dream” speech during the March on Washington. And when King said, “I have a dream that one day this nation will rise up and live out the true meaning of its creed: We hold these truths to be self-evident; that all men
Nigeria’s Ban Of Foreign Currency Deposits ‘Good For Economy And Naira’
The Central Bank of Nigeria (CBN) has welcomed a decision by national banks not to accept cash deposits in a bid to bolster the country’s currency. In a statement on its website, CBN said the decision was made to avoid illicit financial flows in the country’s banking system. The statement also specified that only wire
US gave Buhari names of oil thieves –Source
The United States of America has handed over the names of Nigerian oil thieves to President Muhammadu Buhari, a member of the President’s entourage during last week’s visit to the US confided in The PUNCH on Tuesday. “I can tell you that the President already has the list of names of the people engaging in
World Bank appoints Nigeria’s Arunma Oteh Vice President, Treasurer
The World Bank has announced the appointment of the immediate past Director General of Nigeria’s Securities and Exchange Commission, Arunma Oteh, as Vice President and Treasurer. A statement sent to PREMIUM TIMES by the bank said, ” As VP and Treasurer, Arunma will manage and lead a large and diverse team responsible for managing more
Survey sheds light on bribery and corruption in Africa
Incidents of bribery have increased, but so has general awareness of anti-bribery compliance among organisations: these were some of the high-level findings of a recent survey conducted by ENSafrica. Key findings include: 24% of organisations have experienced an incident of bribery and/or corruption in the past 24 months (that’s an increase of 4% since 2013),
NIGERIA MAY BE UNINTENTIONALLY CRIMINALIZING CASH USAGE
Since the start of July, Nigerians have been fined for using cash. This is the latest in a series of aggressive strategies employed by the Central Bank of Nigeria (CBN) to enforce patronage of the cashless policy initiated under the regime of the former Governor Lamido Sanusi Lamido three years ago. On January 1, 2012, the CBN
Naira Dips To N245/$1 As Reserves Rise
The value of the naira continued to sink at the parallel market yesterday selling at N245 to the dollar and N366 to the British pound even as the external reserves and inflation figures of the country maintained a steady rise. The demand for foreign currency at the parallel market which is constituted by the bureaux
The most attractive niche markets in Africa
The overwhelming narrative of ‘Africa Rising’ is size: big continent, lots of people, plenty of growth. But size presents its own challenges. Sometimes small is good. Nigeria will have more than 300 million consumers by 2030 and may be among the ten largest economies in the world by 2050. But it comes with complications and reaching
Customers Storm Banks For BVN Enrollment As Deadline Approaches
With less than a week to the deadline of the enrollment for the Bank Verification Number (BVN), hoards of customers in Makurdi have on Monday besieged their banks to enroll for the exercise. According to the News Agency of Nigeria (NAN), while many customers had done their registration, a good number of them were yet
Ethiopia: Largest Country In The World Without A Stock Exchange
Ethiopia, population 88 million, is the largest country in the world without a stock exchange, according to Sreepada Hegde, a lecturer at Ethiopia’s Madawalabu University. Frontier market investors with a focus on public equities like to keep an eye out on which countries are about to launch new stock exchanges as they usually represent promising investment