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Lagos, South Africa and New York
Sun, May 19, 2019


Ambode commissions Agrica access road, Egan, Lagos theatre, Igando

…Flags Off Construction Of Egan-Ayobo Link Bridge … Igando Monarch, Residents Laud Gov, Say Projects Have...

NESG launches citizen report as stakeholders chart new path for non-oil revenue

Nigeria Economic Summit Group’s Fiscal Policy Roundtable (NESG) has launched its Citizen Perception Report, a...

Umrah: Buhari departs Madinah for Makkah

President Muhammadu Buhari on Friday evening arrived in Makkah from the city of Madinah, Saudi...

FG’s employment: NYCN hails Reps for Bill removing age barrier

The National Youth Council of Nigeria (NYCN) has commended the House of Representatives for passing...

Nigerians will resist oppositions plan to “sabotage Buhari’s Administration – Lai Mohammed

The Federal Government says it has ‘credible evidence” to back up its outcry that the...

FAAC, IGR not enough to fund budgets of 28 states

The fall in oil prices slightly affected government earnings in the first quarter of 2019 as the Federation Allocation Account Committee disbursed N1.929tn between...

National Assembly Passes 2019 Appropriation Bill, Raises Proposed Budget by N86...

In the just concluded week, the National Assembly finally passed the 2019 Appropriation Bill after it raised the proposed budget by N86 billion. According...

Nigeria’s Senate postpones 2019 budget passage

The Nigerian Senate Wednesday postponed the third reading of the 2019 Appropriation Bill till Tuesday. The senate committee on appropriations on the national budget had...

PRIVATE EQUITY FUND NEWS

FIRS posts N1.5tn revenue in Q1 of 2019, Fowler says

The Federal Inland Revenue Service ((FIRS) generated N1.5 trillion revenue in the first quarter (Q1) of 2019, according to its Chairman, Mr Babatunde Fowler....

Stanbic IBTC Bank fined N2 billion for violating CBN guidelines, other offences

Banking Saturday, May 18,2019 The management of Stanbic IBTC was fined about N2 billion for violating the guidelines of the Central Bank of Nigeria, CBN, and...

EFCC arraigns Stanbic IBTC manager, one other for alleged N24m fraud

News Saturday, May 18,2019   The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office, has, arraigned one Olamide Salvador and Richard Olusegun Olatunji, before Justice Sherifat...

MTN Nigeria targets dividend payout ratio of at least 80% to investors

MTN said it targets a dividend payout ratio of at least 80% of net income in the medium term, it said in the investor...

MTN Nigeria eyes debt and equity sale after stock market listing

targets dividend payout ratio of at least 80% ABUJA, May 15 - MTN Nigeria is arranging local debt financing and plans to sell shares...

Jumia’s Nigeria chief defends sales figures queried by short-seller Citron

AMSTERDAM - African ecommerce company Jumia is trying to encourage more prepayment to discourage returns or cancellations, the head of its Nigerian business...

MTN Nigeria to list shares in Lagos in $6 bln flotation

Chijioke Ohuocha ABUJA - MTN Nigeria announced plans to float its stock in Lagos on Thursday in a deal valued at $6 billion, following...

The Big Read

By Chris Hughes Mr. Hughes, a co-founder of Facebook, is a co-chairman of the Economic Security Project and a senior adviser at the Roosevelt Institute. May 9, 2019 The last time I saw Mark Zuckerberg was in the summer of 2017, several months before the Cambridge Analytica scandal broke. We met at Facebook’s Menlo Park, Calif., office and drove to...
What does a business do next after racking up cumulative losses of $935m? Go public, of course. Jumia is billed as Africa’s first “tech unicorn”, a venture-capital funded company valued at more than $1bn on the New York Stock Exchange. Its lack of a profitable model didn’t seem to matter much on the first day of trading on Friday, as...

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GLOBAL ECONOMY

Nigeria after the Oil Age By Tony Ogunlowo

With the rest of the world beginning to turn its back on petroleum products in favour of sustainable renewable energy sources the demand...

Creating Confidence Through Consistency

And why it’s so important Marcus Arcanjo In 2003, a high school basketball player was sat across from the then-CEO of Reebok, who had made...

Nigeria’s Economy on Life Support: Time to Pull the Plug

By Olusegun Adeniyi Distinguished ladies and gentlemen, please allow me to preface my presentation with one of those stories you find on the internet, although...

GLOBAL ENTREPRENUERS

Alyson Shontell Bill and Melinda Gates Foundation cochair Melinda Gates with Business Insider US Editor-in-Chief Alyson Shontell.Business Insider Melinda Gates is the cochair of the Bill and Melinda Gates Foundation, which has committed over $45 billion to help solve some of the world's toughest problems. Melinda Gates believes the ultimate problem that needs solving is poverty. Poverty leads to all...
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