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CBN governor, Cardoso faces tough test amid FX crisis, rising rates

Yemi Cardoso, the recently appointed governor of the Central Bank of Nigeria, must deal with the country’s lack of foreign currency and the double-digit interest rate that harms enterprises. According to SAMI OLATUNJI, he also faces the Herculean job of controlling the rising inflation rate. Market participants were ecstatic to hear that Yemi Cardoso had been nominated to be the new governor of the Central Bank of Nigeria. Cardoso is not just one of them;...

FG to pay road contractors N431bn, demands 10-year guarantee

The Manufacturers Association of Nigeria reported that at the height of the naira crisis earlier this year, cement sales decreased by 30%. The association also claimed that a 20% decrease in consumer goods sales occurred during this time due to a lack of access to cash. MAN claimed that it described the disastrous effects of the naira redesign policy on the manufacturing industry in a “Special Focus” of its Manufacturing CEOs Confidence Index. According to...

Tinubu to lead Dangote, Otedola, Elumelu, other business leaders to India

President Bola Tinubu of Nigeria will lead a delegation of 38 businessmen and industry executives to the Nigeria-India Presidential roundtable and conference in New Delhi, India. President Tinubu is due to speak at the event, which is being organised by the Nigerian High Commission in India in partnership with the Confederation of Indian Industry (CII) and the Nigeria-India Business Council (NIBC). Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group; Femi Otedola, Chairman...

Let’s move Nigeria forward, partner for nation-building — Tinubu, Elumelu

ABUJA—President Bola Tinubu has pleaded with the nation’s legal professionals to recommit to providing services that will advance the country. As he opened the Nigerian Bar Association’s 2023 Annual General Conference in Abuja, the President emphasised that such rededication must begin with a shift in perspective and a complete determination to national progress.   This occurred at the same time that Mr. Tony Elumelu, Chairman of United Bank of Nigeria, UBA Plc, stated yesterday that...