The commercial real estate, particularly office space, market has once again relapsed into slow motion after a brief interlude of rebound from the crippling impact of COVID-19 pandemic. This segment of the real estate market is passing through a difficult time as many office buildings are now recording increases in vacancy rates as organisations adjust …
More Nigerian banks are creating mobile applications (apps) or internet banking where customers can convert their dollars and other foreign currencies to naira, a development that unsettles black market trading. “This makes a lot of sense, especially for remote workers that are struggling to exchange their foreign earnings. With this, there is no need to …
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The issuance of commercial papers in Nigeria surged by 89 percent in the first half of 2023, with firms raising a total of N789 billion from the short-term debt instrument, BusinessDay’s findings have revealed. Data sourced from FMDQ Group showed the value of commercial papers recorded 104 issuances with a total value of N789.20 billion …
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …
Mike Rosanje, Co-founder/CEO at Cashbuddy, a .financial technology company and one of the pioneers of virtual dollar cards for the Nigerian market, in this interview with BusinessDay’s Chinwe Michael, speaks on the impact of unified exchange rate on virtual card operations in Nigeria. The unified exchange rate policy by the central bank of Nigeria (CBN) …
A new report on Fraud and Forgeries in the Nigerian Banking System shows that fraudulent activities in Africa’s largest economy resulted in a loss of N472 million during the first quarter of 2023. This amount reflects a significant decrease from the N3.18 billion reported in the fourth quarter of 2022, representing an 85 percent loss …
Grand Africa Initiative (GAIN), a non-governmental organisation enabling African youths through training and empowerment, in partnership with Development Bank of Nigeria (DBN) PLC have announced the second edition of their collaboration to train two hundred young Nigerian Women in entrepreneurship courses. The course titled ‘GAIN Entrepreneurship Masterclass for Women’ scheduled to start in July, according …
Investors who bought shares of some large-cap firms in 2016 when their prices were low have seen the value of their holdings jump largely on the back of the recent rally in the stock market. They bought the dip seven years ago and now are reaping huge capital gains. Buying the dip is when an …
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …