PwC Nigeria Recommits to Sustainability in Region
PwC Nigeria (PricewaterhouseCoopers) is solidifying its commitment to driving Nigerian businesses toward a sustainable future. This renewed focus coincides with the 10th anniversary of Strategy & PwC's internal consulting arm. The 10-year milestone signifies Strategy&'s successful collaboration within the PwC network. Since its formation in 2014 through the merger of Booz & Company and PwC, Strategy& has provided innovative solutions...
Nigerian Stocks Lure Foreign Investors Back Despite Naira Devaluation
Foreign investors are pouring back into Nigerian stocks after a long hiatus caused by dollar shortages and capital controls. Inflows surged fivefold in the first quarter of 2024, reaching N93.37 billion compared to N18.12 billion the prior year. This marks the highest quarterly inflow since 2019. CBN reforms are credited with attracting investors. "Nigeria's transformation from uninvestable to investable is...
Rwanda Eyes Ogun State for Economic, Educational Partnership
Rwanda has set its sights on Ogun State, Nigeria, as a potential partner for economic and educational development. This interest was conveyed by Christophe Bazivamo, Rwandan Ambassador to Nigeria, during a meeting with Governor Dapo Abiodun in Abeokuta. Ambassador Bazivamo acknowledged Ogun State's achievements in both industrialization and education, pinpointing these areas as drivers for a mutually beneficial partnership. Collaboration on...
Golden Eaglets Held to 1-1 Draw by Miracle Academy in Pre-WAFU B U-17 Friendly
The Nigerian U-17 national team, the Golden Eaglets, were held to a 1-1 draw by Miracle Academy from Abia State in a friendly match played on Wednesday at the FIFA Goal Project pitch inside the Moshood Abiola National Stadium, Abuja. This match served as part of the Eaglets' preparation for their upcoming WAFU B U-17 Cup of Nations title defense...
Nigeria Wins ICC Africa Cricket Development Initiative of the Year for U-17 Championship
Nigeria's commitment to cricket development has been recognized on the global stage! The Nigeria Cricket Federation (NCF) secured the International Cricket Council's (ICC) Africa Cricket Development Initiative of the Year award for 2023. This prestigious honor acknowledges the NCF's successful five-year PwC National U-17 Championship, which provides competitive cricket opportunities for both boys and girls across the country. The ICC...
CIBN Backs Bank Recapitalization for Increased Lending to Nigeria’s Real Economy
The Chartered Institute of Bankers of Nigeria (CIBN) has voiced its support for the ongoing bank recapitalization exercise, highlighting its potential to boost lending to the nation's real sector. Dr. Ken Opara, CIBN President, delivered this message during the institute's annual lecture in Lagos titled "Improving Availability of Credit in the Nigerian Real Economy: The Critical Importance of Liquidity." Dr....
Federal Government Recovers N57 Billion in Debts Through Project Lighthouse
The Federal Government of Nigeria has successfully recovered N57 billion out of a staggering N5.2 trillion owed by various Ministries, Departments, and Agencies (MDAs) to the Federal Inland Revenue Service (FIRS). This breakthrough comes courtesy of Project Lighthouse, a data-driven initiative launched by the Federal Ministry of Finance. Project Lighthouse addresses a long-standing challenge: poor information sharing among government agencies....
Opaque Loans Hinder Africa’s Growth, Warns AfDB President
Africa's economic potential is under threat from non-transparent loans secured against natural resources, according to the President of the African Development Bank (AfDB), Akinwumi Adesina. These loans make it difficult to resolve existing debt and hinder future growth, Adesina warned at the Semafor Africa Summit. Adesina emphasized the need for greater transparency and accountability around debt. He called for an...
Naira Stabilization Efforts Applauded by Nigerian Bishop, Implementation Urged
The Diocesan Bishop of Ife, Rt. Rev. Olubinmi Akinlade, commended the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, for his aggressive policies aimed at stabilizing the naira. In a statement issued ahead of the 12th synod of the Diocese of Ife, Anglican Communion, Bishop Akinlade acknowledged the CBN's "financial reengineering" efforts but stressed the importance of implementation. "While these policies...
African Businesses Get $100 Million Boost for Trade Finance
British International Investment (BII), the UK's development finance institution, and global bank Citi announced a $100 million partnership today to address trade finance challenges faced by African businesses. This initiative targets small and medium-sized enterprises (SMEs) and corporations with high growth potential but limited access to financing. The partnership aims to bridge the widening trade finance gap in Africa, which...
