We are pleased to announce the appointment of Mr. Olusola Obadimu, 57, as Director-General of Nigerian-American Chamber of Commerce with effect from Wednesday, 1st of July, 2020. This, in a statement signed by the National President, Nigerian-American Chamber of Commerce Otunba Oluwatoyin Akomolafe. Sola has a B.Sc in Chemical Engineering, M.Sc in Economics and MBA in Marketing…
Importance of Financial and Tax Management for Startups Morolake Ade-John, Intern NACC February 2020 The article talks about the Importance of Financial and Tax Management for Startup businesses in Nigeria. The major ideas / key points include: Only 30% of startups make it to their tenth year based on several reasons. Financial budgeting and…
Nigeria is now ranked 131 globally on the World Bank’s Ease of Doing Business ranking, moving up by 15 places from its 2019 spot. A comparison of business regulation in 190 countries across the world formed the basis of the ranking. “Nigeria conducted reforms impacting six indicators, including making the enforcement of contracts easier, which…
The Central Bank of Nigeria (CBN), has introduced a funding support programme for Micro, Small and Medium Enterprises known as ‘Agric Small and Medium Enterprises Investment Scheme (AGSMEIS)’. Existing and aspiring entrepreneurs can access up to Ten Million Naira (N10,000,000) at 9% per annum for up to 7 years repayment from CBN in the AGSMEIS…
Nigeria became the 53rd country to join the African Continental Free Trade Area on Sunday after President Muhammadu Buhari signed the AfCFTA Agreement in Niamey, Niger Republic. The Republic of Benin also joined the group, bringing to 54, the total of African countries out of 55 that had endorsed the AfCFTA agreement. Only Eritrea is…
Although Nigeria slipped two places in global e-Government development index to rank 143 out of 193, the Federal Government said it planned to lift the nation to the 50th position. The e-Government index measures the readiness of the members of the United Nations to offer services electronically. There are three important dimensions of the index,…
Ecobank Nigeria has entered into a strategic partnership with the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) with a N15 billion first tranche in agricultural value chain financing scheme. The partnership is in line with the Central Bank of Nigeria (CBN)’s request that banks provide more funding to the agriculture sector. NIRSAL was set…
The Debt Management Office has said the Federal Government will auction N100bn worth of bonds by subscription on June 26. A circular by the DMO on Tuesday showed the breakdown of the figure to include a N30bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent; another N40bn…
In just three years after lifting its 40-year ban on crude oil exports, the United States has become one of the top 10 oil-exporting countries in the world, surpassing Nigeria, which was once the second-largest supplier of oil to the US. The US has significantly reduced imports of Nigerian crude oil in the past few…
The National Insurance Commission will soon introduce a revised insurance distribution channel, which will replace the State Insurance Policy that was cancelled. The new policy may involve the issuing of new distribution licences to non-insurance bodies, who would be able to sell insurance to every part of the country, according to information obtained from the…