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November 29, 2023
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Category: Money Line

PwC projects 3% growth for Nigeria in 2024

PwC projects 3% growth for Nigeria in 2024

Unabating inflationary pressures and the rise in the cost of living will likely result in Nigeria recording marginal real economic growth of 2.8 per cent and three per cent in 2023 and 2024 respectively, PwC…

NDIC set to pay Peak Merchant Bank’s depositors, ex-staff

NDIC set to pay Peak Merchant Bank’s depositors, ex-staff

The Nigeria Deposit Insurance Corporation (NDIC) has said it is set to pay first liquidation dividend to ex- staff and depositors of the defunct Peak Merchant bank. The Corporation made the announcement in a statement…

Analysts: AfCFTA’ll facilitate Nigeria’s dominance of intra-African trade

Analysts: AfCFTA’ll facilitate Nigeria’s dominance of intra-African trade

Nigeria could establish itself as a dominant player in intra-African trade, if it effectively leverages the African Continental Free Trade Area (AfCFTA) agreement, analysts at the Research Department of Coronation Merchant Bank have said. The…

Adedipe: Removal of fuel subsidy was ‘inevitable’

Adedipe: Removal of fuel subsidy was ‘inevitable’

Founder and Chief Consultant of B. Adedipe Associates Limited (BAA Consult), Dr. ‘Biodun Adedipe, has described the removal of fuel subsidy as an “inevitable” step that the Federal Government had to take, “given the humongous…

IMF: Interest rates likely to remain high for some time

IMF: Interest rates likely to remain high for some time

Emerging markets face a more volatile and uncertain future, and must rebuild fiscal buffers, boost revenues, diversify trade and gird for trillions of dollars in annual climate change costs, the International Monetary Fund’s (IMF) First…

AfDB debars Ethiopian firm, GM over fraud allegations

AfDB debars Ethiopian firm, GM over fraud allegations

The African Development Bank Group (AfDB) has announced a 15-month debarment of Beza Consulting Engineers PLC and Mr Gidey Gebrezgabher Gebremariam, effective from 21 August 2023. In a press release, the AfDB said that Beza…

BudgIT unveils recipients of 2023 GovSpend Media Fellowship

BudgIT unveils recipients of 2023 GovSpend Media Fellowship

Civic-tech organization leading the advocacy for accountability, transparency, and effective service delivery in Nigeria BudgIT, has announced the 2023 recipients of its GovSpend Media Fellowship. According to a press release, after a rigorous selection process,…

Nigeria’s PMI Eases to 50.2 in August Amid Rising Inflation

The country’s Purchasing Managers’ Index (PMI) fell for the third month in a row to 50.2 in August from 51.7 in July, Stanbic IBTC Bank’s latest Nigeria PMI report has said. The report attributed the…

‘High inflation, interest rates to impact Africa’s economic growth’

‘High inflation, interest rates to impact Africa’s economic growth’

The Economist Intelligence Unit (EIU) has said that the high inflation and interest rates in Africa could continue to weigh on growth and investor confidence over 2023-2024. The research and analysis division of the Economist…

Stanbic IBTC Bank boosts support for SMEs

Stanbic IBTC Bank boosts support for SMEs

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, recently concluded its SME Collab Market Storm events, which took place between July 13 and August 14 and spanned across major cities in the…