President Trump fresh Visa ban on Nigeria, others will hurt Africa, US | Global Financial Digest

Against a backdrop of rising tensions with the Soviets in 1959, President John F. Kennedy of the United States (US) delivered a speech in New York that presented a new strategic approach toward African nations and U.S. global leadership in a world defined by great-power competition. READ M...

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Are Nigeria consumers still king or beggar without choice? | Global Financial Digest

“The customer is always right” – Gordon Selfridge The above quote often in the time past provided guidance for consumer goods companies and their marketers. Many brands are conscious of the fact that if they by any means annoyed their customers, they may lose the market to their competitions...READ M...

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SEC to strengthens capital market enforcement regime ~Yuguda

 “We need to restore investor confidence and attract the retail and young investor into the market. Thus, we will ensure strict enforcement of our rules and regulations, strengthen our enforcement regime and clamp down on illegal operators. READ DETAIL: &nb...

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Tiger Brands issues profit warning, board chairman to step down

Tiger Brands also said it would lose 302 million rand in the period from deferring food price increases as part of government regulations to protect consumers.   READ DETAILS...

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Malian President Keita resigns after military intervention

Malian President Ibrahim Boubacar Keita resigned from his post and dissolved parliament on Wednesday after he was detained by mutinous soldiers in a crisis that escalated following weeks of protests against his government.      READ DETAILS HE...

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GTB holds back dividends for GDRs holders due to dollar shortage

Guaranty Trust Bank (GTB) on Tuesday said payment of dividends to holders of its Global Depository Receipts (GDRs) has been delayed due to difficulties in sourcing dollars. Read details her...

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Banks burden with CRR, other charges, can’t reduce lending rate

Nigerian banks already burden with huge operational costs, including the world's highest Cash Reserves Ratio (CRR) regime and other regulatory charges are constrained to tinker with lending rate, a bank chief executive has said. Read details h...

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CHURCH BUSINESS: Managing work, family and the ministry

“Work-life balance is a concept that supports the efforts of employees to split their time and energy between work and the other important aspects of their lives. Work-life balance is a daily effort to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.” Read detai...

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UBA to pay interim dividend from H1 profits

Nigeria's United Bank for Africa (UBA) Plc on Friday said it will pay interim dividends from profits made in the first half of 2020 to its shareholders. Read also: UBA to pay interim dividend from H1 profi...

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Nigeria to get another $6.5 million Abacha loot from Ireland

Nigeria has reached a deal with the government of Ireland to return back to the West African country $6.5 million part of stolen money looted by former military dictator Sani Abacha. Read details h...

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Foreign investors unable to repatriate funds face 100% loss on Nigeria’s investment

The persistent dollar shortage and the inability of the Central Bank of Nigeria (CBN) to sell dollars to foreign Portfolio Investors (FPI) who want to repatriate their funds back to their home countries is causing stress among fund managers. The CBN governor, Godwin Emefiele had in June appealed to the FPI to be patient with […] Foreign investors unable to repatriate funds face 100% loss on Nigeria’s investme...

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Guinness Nigeria warehouse in Ikeja destroys by fire, loses millions of naira

Guinness Nigeria lost millions of naira worths of property and products on Thursday as their warehouse located on Wempco Road, Ogba, Ikeja area of Lagos was engulfed by strange fire. Read more...

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CBN monetarists decry government increased reliance on debt to finance budget

The Central Bank of Nigeria (CBN) monetarists are unhappy with the government persisted resorting to the accumulation of debt to finance its operations as it will further compound the country’s debt services and debt to revenue ratio.In their personal notes at the last Monetary Policy Committee (MPC) meeting published by the regulatory bank on Thursday, members said government must cut down on the cost of governance and inefficient spending by government agencies. Read more on: CBN monetarists decry government increased reliance on debt to...

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Osun State abolishes Aregbesola’s reforms in education, reverts to 6-3-3-4 system

Osun State on Wednesday finally abolished the last vestige of reforms in the state educational establishment by the immediate past administration as it reverts to the 6-3-3-4 educational system and abolished single school uniform for learners in the state schools.Commissioner for Information and Civic Orientation, Funke Egbemode, who broke the news said the decision by the state government was based on the recommendations of the Education Review White Paper on the restructuring and remodification of some education policies. Details click on link...

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Jumia says revenue drops 10% on impact of covid-19 lockdown

Jumia says revenue drops 10% on impact of covid-19 lockd...

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NNPC moves to raise equity stake in $2,8 bln AKK gas projects ~NGC Chief

NNPC moves to raise equity stake in $2,8 bln AKK gas projects ~NGC Ch...

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Nigeria to raise N150 bln via bonds on Aug 19 to fund budget gap

Nigeria to raise N150 bln via bonds on Aug 19 to fund budget ...

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Joe Biden chooses Kamala Harris as his running mate

Joe Biden chooses Kamala Harris as his running m...

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Moves to boost electricity supply: Siemens to upgrade 105 power stations, builds 70 new base

Moves to boost electricity supply: Siemens to upgrade 105 power stations, builds 70 new b...

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FMDQ chief hopeful new CAMA will drive capital inflow

FMDQ chief hopeful new CAMA will drive capital inf...

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CHURCH BUSINESS: Every leader needs communication skill

By Oludare Mayowa “What you say can preserve life or destroy it; so you must accept the consequences of your words.” - Proverbs 18:21 “Let my words and my thoughts be pleasing to you, LORD, because you are my mighty rock and my protector.” - Ps 19:14 Our words are so powerful; it can kill or bring to life, it can create deep wound or heal wounds. Our word can lift up souls or bring it down, it can encourage many, same way it can discourage many. It can draw people to us and also drives them away from us. Though no one can be adjudged master in...

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CHURCH BUSINESS: Blame the church for corruption in Nigeria

By Oludare Mayowa This may sound ridiculous in many ways to some people, but the truth remains that; the church and its leaders are culpable in the bizarre of ongoing drama at both the Legislative and the Executive arms of government as allegations of corruption and counter allegations by political office holders running the affairs of our country has been flying around. The corruption jamboree we are witnessing among the political class in recent time has its root in the church and the encouragement given by some of its leaders who serve as enablers...

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President Buhari phobia for wearing face mask

Nigerian President Mohammadu Buhari on Thursday proved the naysayers wrong when he arrived in Bamako, capital of Mali, adorning a face mask, his first time of being seen with the protective gear to wade of the spread of Covid-19.Right from the aircraft that conveyed him to the meeting with other presidents of the Economic Community of West African States (ECOWAS) to resolve political crisis brewing in the sahel region, the president wore his facemask...

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How Joe Abah tweet Forces Govt To Revise Increase In Courier Licence Fees

By Oludare MayowaAn innocuous tweet by a public analyst Joe Abah on Saturday has triggered a chain of reactions from the minister of communications and digital economy Isa Ali Pantami over the increase in licence fee for courier services by the Nigerian Postal Service (NIPOST).Abah, who was a former Director-General of the Bureau for Public Sector Reform until 2017 and social media enthusiast had written a post on his verified Twitter handle calling the attention of Pantami to the new requirements by NIPOST for courier and logistics services in...

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CHURCH BUSINESS: Lending Helping Hands, The Way To Go

By Oludare Mayowa“The Salvation Army was founded on the principle that a man with an empty stomach doesn’t care about the gospel until he’s fed.”The outbreak of the Coronavirus pandemic and the attendant lockdown imposed by the government to contain the spread of the disease helped opened many church leaders’ eyes to the need to help the vulnerable among them.Many churches rose to the occasion to reach out to some of the needy among them in response to the widespread hunger and lack that heralded the lockdown among some underprivileged within the...

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CHURCH BUSINESS: What Legacy Are You Leaving Behind?

By Oludare MayowaOne of my leaders in faith recently wrote a note on a platform we both belong on his experience during the lockdown imposed by the government in a bid to contain the spread of covid-19 and it was illuminating and took me back to reflect on my own past.“I found out that the dreams I had while growing up were truncated by the leaders that came into my life. I found out that I lost me to them.” This was an extract from the post by the cleric.What is your legacy as leaders?I was struck with awe because his experience was similar to...

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The changing world of business: New look of Global Financial Digest

Welcome to our world as the world changes so also the profession of journalism and its practitioners. We have evolved from being a blogger to a full-blown News platform that reports financial and economic news and other global news of interest to a larger and diverse interest across the globe.We are inviting you to please join us in the new journey to promote quality news reporting from a refreshing angle and provide in-depth analysis of issues that affect the economy and the business world.  Our new Website; Global Financial Digest...

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Akpabio, Nunieh Brickbats: Why Buhari Must Step In To Ensure Sanity

By Oludare MayowaThe ongoing brickbats between the minister of Niger Delta Affairs, Godswill Akpabio and the immediate past acting chief executive of Niger Delta Development Commission (NDDC), Joi Nunieh is sickening and perhaps symptomatic of the going on and biggest troubles in the present administration of President Mohammadu Buhari. Akpabio, Nunieh Brickbats: Why Buhari Must Step In To Ensure SanityFirst, it was the arrest and suspension of the acting chairman of the Economic And Financial Crime Commission (EFCC), Ibrahim Magu over allegations...

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Covid-19: Lagos Announces Plan To Share Foods For 200,000 Households

Lagos State has announced its plans to distribute food items to 200,000 households in the state as part of its palliative and stimulus package to help Lagosians cushion the effect of the lockdown in the efforts to contain the spread of the novel coronavirus in the state. Governor Babajide Sanwo-Olu, who disclosed this on Friday said the stimulus, which comes in food packs, to be distributed to every local government in the State is aimed at cushioning the effect of the fourteen days stay-at-home directive.He said economic stimulus will reduce...

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CBN MPC Report

The MPC noted the continued resilience of the banking system, evidenced by the further moderation in the ratio of Non-Performing Loans (NPLs) from 6.59 percent in January to 6.54 percent in February 2020. Although the ratio remained above the prudential benchmark of 5.0 percent, the Committee expressed confidence in the Bank’s regulatory regime and commitment to maintaining stability in the banking system. On the domestic front, available data on key macroeconomic variables indicate the likelihood of subdued output growth for the Nigerian...

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CBN Devalues Naira by 17.26% To N360/$, External Buffer Down $35.9 Bln

The Central Bank of Nigeria (CBN) on Friday officially devalued the nation’s currency at both the official window and the Investors’ & Exporters’ (I&E) FX Window to reflect the reality and conditions of the marker, a top banker told Global Financial Digest.The regulatory bank has moved the official rate to N360 to the dollar from N307 per dollar previously and now selling dollar to foreign portfolio investors (FPI) at N380.20 at the I&E window from N366 per dollar previously.Also, the CBN has effectively moved the rate for the bureau...

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Money Market: Jan-2020 Review and Feb-2020 Outlook

Overall system liquidity started Jan-2020 on an elevated note, as naira inflows outweighed outflows. However, towards the end of the month, liquidity levels tightened, following the decision from the Monetary Policy Committee to increase the Cash Reserve Requirement from 22.5% to 27.5%. As a result, average interbank funding rates spiked from 2.9% as at Dec-2019 ending to 14.8% as of Jan-2020 ending.In terms of primary market activities, the CBN mopped-up c. N1.5tn of the N2.4tn OMO maturity that hit the system amid the decision of the CBN to bar...

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