Markets articles

Michael Nagle | Bloomberg | Getty Images. Ngozi Okonjo-Iweala, former finance minister of Nigeria, during a panel discussion at the annual meeting of the Clinton Global Initiative in New York, U.S., on September 19, 2016.

China-style state-led growth won’t work in Africa, former Nigeria finance minister warns

China-style state-led growth won’t work in Africa, former Nigeria finance minister warns

• As ties between China and African countries continue to strengthen, former Nigerian Finance Minister Ngozi Okonjo-Iweala has warned that Beijing-style economic governance will not work for Africa. • Corruption could result from increased government intervention in business, she said. • In her view, Nigeria’s “vibrant private sector” does not lend itself to state-led development.


Treat Naira with care, CBN urges Nigerians

THE Central Bank of Nigeria (CBN) has once again called on Nigerians to handle the Naira with care, as it was a symbol of the nation’s identity and pride. The Deputy Governor, Corporate Services Directorate, Edward Adamu, reiterated this on Tuesday in Abuja at CBN’s 2018 International Museum Day celebrations. He said the CBN housed

Alex Okoh

FG Reforms 140 Public Enterprises In 30 Years – BPE

THE Bureau of Public Enterprises (BPE) and its predecessor, Technical Committee on Privatisation and Commercialisation (TCPC), have reformed over 140 public enterprises in 30 years. The Director-General of BPE, Mr Alex Okoh, disclosed this at the inauguration of the Stakeholder Engagement Committee of the National Council on Privatisation (NCP) on Tuesday in Abuja. The News


Apple Is One Kraft-Heinz Away From Becoming A Trillion-Dollar Company

Over the weekend, at Berkshire Hathaway’s annual general meeting, chairman Warren Buffett reaffirmed his love for US consumer technology giant Apple. Although not owning an iPhone himself—and avoiding investing in most tech stocks over the years—Buffett has seen the value in how the company retains customers through iterative product updates and new features that make


Cordros Capital: Sustained Improvement In Business Conditions Despite Slowed Expansion

Manufacturers and Service providers reported sustained improvement in overall business conditions since April and May 2017 respectively. That was highlighted by the Central Bank of Nigeria’s (CBN) Purchasing Managers’ Index (PMI) report for the month of April released today. Specifically, both the headline composite manufacturing and non-manufacturing PMIs printed at 56.9 and 57.5 respectively, up


SERAP wants Fashola to account for Post-Privatisation spending on Power Sector

SOCIO-ECONOMIC Rights and Accountability Project, SERAP, has sent a Freedom of Information request to Babatunde Fashola, SAN, Minister of Power, Works and Housing asking him to use his good offices and leadership position “to urgently provide information on specific details of spending on the privatisation of the electricity sector and the exact amount of post-privatisation


Banks Should Create New Private Sector Loans – Jimoh

The Managing Director/Chief Executive Officer of Coronation Merchant Bank Group, Mr. Abu Jimoh, speaks on the outlook and new trends in the banking industry, including how technology is transforming the banking landscape and growth of the merchant banking sub-sector, in an interview with The Punch. How would you assess the growth of the merchant banking


The US Economy Just Hit A Milestone

The slow but steady recovery from the Great Recession just hit a milestone: It’s tied for the second-longest economic expansion in American history. The recession ended in June 2009, which means the recovery is 106 months old through April of this year. That matches the expansion from 1961 to 1969, an era of big government

Xerox CEO Jeff Jacobson is stepping down following a campaign by activist investors Carl Icahn and Darwin Deason.

Xerox CEO quits in win for Carl Icahn

The CEO of Xerox is quitting and the company’s plan to be taken over by Japan’s Fujifilm has been thrown into doubt. Xerox (XRX) said in a statement late Tuesday that it’s reached a deal with activist investors Carl Icahn and Darwin Deason, who have been trying to kill the Fujifilm (FUJIF) deal and push


CBN Introduces New Anti-money Laundering Rules

THE Central Bank of Nigeria (CBN) has rolled out a new set of penalties for organisations that flout its Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) rules. The central bank stated this in a circular titled: “CBN Anti-Money Laundering and Combating the Financing of Terrorism (administrative sanctions) regulations, 2018.” The new regime stipulates