₦airaland Forum

If not re-appointed, the Governor of the Central Bank of Nigeria, Godwin Emefiele, might vacate his position for one of his deputies, Aishah Ahmad, a top banker in the country’s financial institution.

Ahmad is among eight likely candidates on queue to take over the apex bank’s top job from Emefiele. The other eminent Nigerians being thought fit for the job include Professor Soji Adelaja, Mohammed Dikwa, Bismarck Rewane, Umaru Abdul Mutallab, Obadiah Mailafia, Bello Maccido, Adesola Adeduntan and Herbert Wigwe.

Recall that Emefiele’s job came under threat when the.... https://nairametrics.com/2019/02/27/aishah-ahmad-leads-shortlist-to-replace-emefiele/

A month after Castle Logistics Services Limited, a Jumia (Jade Internet E-Services Nigeria Limited) vendor, petitioned the Nigerian Police over alleged fraudulent conversion and diversion of N214.695 million by Jumia Food, officers of Nigerian Police Force, Zone II, Lagos, have arrested Guy Futi, the Managing Director of Jumia Food.

Adewumi Adegoke, a member of the anti-fraud unit, confirmed the arrest, stating that there’s ongoing investigation into allegations made against Jumia Food... https://nairametrics.com/2019/02/04/jumia-food-md-in-police-custody/

Vice President Yemi Osinbajo, is currently trending on Nigerian twitter.

Osinbajo had been scheduled as a guest on Rubbin Minds hosted by Ebuka Obi-Uchendu today Sunday, January 27th. Osinbajo was expected to be interviewed on a wide range of burning national issues.

However, minutes into the show, Ebuka announced that the Vice President regrettably wasn’t going to make the show... http://bencollinspro.com/2019/01/28/a-sinner-runs-when-no-one-chases-nigerians-react-after-osinbajo-miss-rubbin-minds-interview/

Singer, Ajibola Olumuyiwa Danladi, aka Danny Young, is presently at war with Tiwa Savage over copyright infringement.

Recall that Tiwa had released a single titled, One, late last year. Shortly after, Danny Young alleged on his Instagram page that she took a line off his 2009 single, Oju ti Won. But Tiwa Savage refused to comment and went ahead to release the visuals of the song... http://bencollinspro.com/2019/01/28/singer-danny-young-vow-more-crackdown-against-tiwa-savage/

To eliminate the risk of payment repudiation during and after a business transaction between small and medium enterprises and their customers, the Managing Director/Chief Executive, Ecobank Nigeria Limited, Patrick Akinwuntan has urged business owners to adopt the use of the lender’s Ecobank Pay.

Akinwuntan advised merchants in commercial trade to take advantage of the benefits Ecobank Pay is offering the general public, guiding against hidden charges that result from... https://nairametrics.com/2019/01/28/ecobank-pay-to-eliminate-risk-of-payment-repudiation-for-smes/

May & Baker Nigeria Plc has earned N1.86 billion from Rights Issue after the Nigeria Stock Exchange (NSE) listed additional 745,234,886 ordinary shares of the drug manufacturing company.

Last year October, Nairametrics had reported that May & Baker intends to lure subscribers with a promise of receiving dividends by the end of the 2018 financial year. The company had sought for regulatory approval for... https://nairametrics.com/2019/01/28/may-baker-takes-a-step-closer-to-expansion/

Verve and Remita have signed a partnership agreement that will incorporate both companies’ products and create more payment options for both merchants and their respective card and platform users.

The partnership agreement between Verve and Remita was described by Verve International Chief Executive Officer, Mike Ogbalu, as an exciting development that offers the public seamless payment experience.

The partnership benefit

Both Verve and Remita partnered to provide millions of customers an advancement in payment during business transactions with merchants, that affords the public to use Verve card to make payment on the Remita platform... https://nairametrics.com/2019/01/28/remita-verve-partner-to-offer-more-payment-options/

From late January to early March 2019, it’s no longer going to be business as usual for Nigeria’s small and medium scale enterprises that depend on digital platforms like Facebook and Instagram to run promotions and create awareness for their products and services to prospective customers not within their immediate environment.

Facebook recently announced it will not accept political advertisements from outside Nigeria ahead of the upcoming 2019 general elections. The company said it was rolling out new rules to... https://nairametrics.com/2019/01/25/an-advice-for-smes-in-this-political-season/

Nigerian e-commerce company, Konga has revealed only a quarter of the Nigerian population has been captured by online shopping platforms in the country despite the buzz around the technological breakthrough.

Konga disclosed 70 per cent of the Nigerian population is yet to join the e-commerce tide, leaving e-commerce companies in Nigeria to... https://nairametrics.com/2019/01/25/why-e-commerce-platforms-are-struggling-to-capture-nigerian-population/

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyema has expressed his expectation from the possible listing of MTN Nigeria on the stock exchange. He assured the listing will have a positive impact on the market.

Onyema made this assertion at the sideline of the World Economic Forum in Davos, Switzerland. He told CNBC that the listing of MTN Nigeria will also give MTN subscribers... https://nairametrics.com/2019/01/25/nse-ceo-oscar-onyema-is-optimistic-about-mtn-nigeria-listing/

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and the Nigerian Postal Services (NIPOST) have settled their rift to carry on with the probing of Nigerian banks over remittance of stamp duty funds.

The two government bodies had a disagreement over jurisdiction to probe Nigerian lenders. RMAFC had claimed jurisdiction of the probe after... https://nairametrics.com/2019/01/25/rmafc-nipost-set-to-probe-banks-over-stamp-duty/

To continue with the development drive in Africa, Chairman of United Bank for Africa Plc (UBA), Tony Elumelu has reiterated the need for more global capital into the continent. He said to actualise the ideas and innovations of Africans, massive capital investment is needed.

The need to attract more global capital inflow to Africa compelled Elumelu to... https://nairametrics.com/2019/01/25/tony-elumelu-discloses-mission-to-world-economic-forum/

There has been a back and forth discussion between the Federal Government and the Nigerian Labour Congress (NLC) on the current minimum wage of N18,000. The unending negotiation has been about wage increment, which will see the minimum wage at N30,000.
The demand for wage increment has been deemed impossible by the Federal Government and some State governments until recently when the Buhari-administration constituted a Technical Committee on the Implementation of a new Minimum Wage.

While the presidency is still seeking alternative revenue sources to implement the new minimum wage, a new survey has been released by Picodi Analysts to determine how sustainable the minimum wage across the world is, in relation to prices of basic food products.

The argument on the part of Labour has been the continued increase in the cost of living in Nigeria, while workers’ salary has remained static since 2011. The current minimum wage is tagged as not being suitable for a quality standard of living within the country, and this new survey has proven the aforementioned opinion to be true.

The question of whether a minimum wage is high enough to allow us to meet the basic nutritional needs still remains. Picodi.com Analysis Team decided to take a closer look at prices of the 8 universal food groups in 52 countries and confront them with the current minimum wage in respective countries. It turns out that in some countries the minimum wage is... https://nairametrics.com/2019/01/21/nigeria-ranks-last-on-surviving-on-minimum-wage-list/

The Nigerian Stock Exchange (NSE) has addressed claims of manipulation in the stock market which was stated to have happened last year, between January and February 2018.

The stock exchange reportedly experienced a surge in market activities in the secondary market, prompting claims of manipulation in the stock market. But the Chief Executive Officer of the NSE, Oscar Onyema said... https://nairametrics.com/2019/01/21/nse-refutes-stock-market-manipulation-claim/

The governor of Central Bank of Nigeria (CBN), Godwin Emefiele has disclosed that there are plans to place more food items on the forex restriction list.

Emefiele stated that there is need to add... https://nairametrics.com/2019/01/21/cbn-may-add-8-items-to-fx-restriction-list/

Nigerian firms dominated the London Stock Exchange Group’s (LSEG) ‘Companies to Inspire Africa’ report, taking pole position ahead of Kenya and thirty-one other Sub-saharan countries.

Nigeria was represented by... https://nairametrics.com/2019/01/17/nigerian-companies-lead-lses-companies-to-inspire-africa-report/

Nigerian Communications Commission (NCC) has intervened in the current crisis at 9mobile barely days after bid winner, Teleology Holdings Limited pulled out of the telecoms company over disagreement on execution of management services contract.

Though, Teleology Limited Holdings and Teleology Nigeria’s dispute is yet to reach NCC for mediation, the executive Vice Chairman of NCC, Prof. Umar Garba Danbatta stated the move is in accordance to the commission’s regulatory mandate to avert... https://nairametrics.com/ncc-intervenes-in-9mobiles-struggle-after-teleology-holdings-exit/

Kenyan-based, Nigerian co-founded financial technology firm, Cellulant Corporation, is now valued at $105 million, following the recent sale of some 44.4% stake in the company to TPG’s Rise Fund, an American investment company.

This development was announced last week in a report that was filed with the Competition Authority of Kenya (CAK). Cellulant first hinted at this deal in May 2018, when it announced that it had..- https://nairametrics.com/cellulant-valuation-hit-105m-after-rise-fund-deal/

Some weeks after presenting the 2019 budget to the National Assembly, President Muhammadu Buhari addresses various major issues that pertains to the Nigeria economy and Nigerians during a recent interview. He gave clarification to questions relating to Agriculture, food security, minimum wage increment.

While addressing the minimum wage issue, President Buhari quoted a Hausa adage about a mad woman who tried to load tied sticks on her head but couldn’t because of the weight, instead of reducing the sticks, she added more to it... https://nairametrics.com/highlights-from-president-buharis-interview-with-thisday-arise-tv/

Debt Management Office (DMO) has pegged Nigeria’s total debt at N22.43 trillion as at September 2018, an increase of 85.06 per cent when compared to its standing in June 2015, a month after President Muhammadu Buhari came into power.

Three years ago, the country’s debt profile was estimated at N12.12 trillion, but recorded a sharp increase of 79.25%, hitting N21.73 trillion in 2017. Despite the increase, Nigeria’s debt was... https://nairametrics.com/nigerias-total-debt-hit-n22-43-trillion/

Managing Director/CEO of First Bank of Nigeria Adesola Adeduntan sees the merger plans between Access Bank and Diamond Bank Plc as a welcome development.

The move in his view is part of a consolidation wave that has taken place in the last ten years.

“We have had two waves of consolidation in the market. The first was in 2004-2005 which was orchestrated by Professor Chukuma Soludo. The second wave happened between... https://nairametrics.com/first-bank-md-feels-access-diamond-merger-is-a-welcome-development/