Miden Systems Denies Exploiting Police, N’Assembly in Sterling Bank Dispute
Miden Systems Limited and its Managing Director, Dr. Brendan Usoro, have denied claims of exploiting the police and the National Assembly in a debt dispute with Sterling Bank Plc. In a letter signed by Mary Warribo of M.C. Chambers in Abuja, the company asserted that it followed constitutional procedures to seek redress for alleged mismanagement and misappropriation of...
UN Launches Negotiations on Global Tax Cooperation to Combat Tax Evasion and Inequality
The United Nations has initiated crucial negotiations on a Framework Convention on International Tax Cooperation, a significant step towards addressing the pressing issues of tax evasion, harmful tax competition, and escalating global inequality. This move has been met with enthusiastic support from global labor organizations, including the International Trade Union Confederation (ITUC) and Public Services International (PSI), who emphasize...
Nigeria and Uganda Strengthen Trade Ties: First Official Shipment Under AfCFTA Set for 2025
Nigeria and Uganda have taken a significant step toward boosting intra-African trade with the appointment of Ugandan Trade Representative Ani Bassey-Eyo to Nigeria. This move, aimed at implementing the African Continental Free Trade Area (AfCFTA) agreement, paves the way for Uganda’s first official shipment of goods to Nigeria. Scheduled for the first quarter of 2025, the shipment will include...
Nigerian Banking Sector Shines in January, Driven by Recapitalization
The Nigerian banking sector experienced a strong start to the year, with the NGX Banking Index surging by 9.76% in January, significantly outperforming the broader market. This robust performance was primarily fueled by investor confidence, bolstered by the ongoing bank recapitalization exercise. The Central Bank of Nigeria (CBN) has mandated that banks meet new minimum capital requirements by March 2026....
Nigeria’s Business Confidence Soars: Private Sector Growth Sustained for Second Consecutive Month, PMI Report Reveals
Confidence in Nigeria’s business environment continues to grow, with the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC Bank Nigeria indicating a second consecutive month of increased private sector output. The headline PMI for January 2025 stood at 52.0, slightly down from December’s 52.7 but still above the 50.0 threshold, signaling sustained improvement in business conditions. This growth is...
Nigeria’s Cotton and Textile Industry Set for Global Revival: House of Dorcas Leads Transformation with Climate-Smart Solutions
Nigeria’s cotton, textile, and garment (CTG) sector is poised for a major comeback, thanks to the unwavering commitment of House of Dorcas Integrated Services (HDi). Backing the Federal Government’s strategy to restore the industry’s global competitiveness, HDi is championing climate-smart technologies, premium cotton production, and sustainable practices. With a focus on innovation and job creation, this transformation aims to...
Nigeria’s Power Sector: Coleman MD Calls for Local Solutions to Tackle Grid Collapses
George Onafowokan, the Managing Director of Coleman Wires and Cables Industries Limited, is calling on the Federal Government to prioritize local solutions to tackle Nigeria's persistent grid collapses. Onafowokan emphasized the need for full deregulation and industrialization of the industry, stressing that obsolete wires and cables must be replaced with locally sourced materials.¹ He acknowledged that locally made products might...
Nigeria’s Raw Gin Producers Sanitize Industry with New Regulations
The Association of Raw Gin Producers of Nigeria (ARGPON) has launched a comprehensive initiative to sanitize the production of local alcoholic drinks, particularly raw gin, also known as ogogoro. According to a statement by ARGPON, the move aims to reorient distillers and dealers towards embracing best global practices and eliminating harmful acts that affect the health of consumers. ARGPON's efforts are...
EU Boosts EU-Nigeria Trade Ties with €300,000 Grant to Eurocham
The European Union has awarded a €300,000 grant to the European Chamber of Commerce (Eurocham) Nigeria to strengthen its secretariat, enhance advocacy efforts, and deepen engagement with key stakeholders over the next three years.¹ This significant financial contribution underscores the EU's commitment to fostering strong economic and commercial ties with Nigeria. According to EU Ambassador to Nigeria and ECOWAS, Gautier...
Cascador Reaffirms Commitment to Empowering Nigerian Entrepreneurs with Financial Support and Leadership Training
Cascador, a transformative programme for mid-stage entrepreneurs in Africa, has reiterated its dedication to empowering Nigerian entrepreneurs through substantial financial support, leadership training, and networking opportunities. The organisation's recent alumni meeting in Ikeja highlighted its goal of fostering impact-driven entrepreneurship across the continent. According to Cascador's founder, Dave DeLucia, the programme is designed to empower entrepreneurs who are tackling societal...
