A combination of rising interest rates and naira devaluation has dealt a severe blow to the financials of many fast-moving consumer goods (FMCG) firms as their borrowing costs skyrocketed in the first half of the year. Analysis of the data from their financial statements show that the total finance cost of 10 FMCG firms […]
FMCGs experience more forex losses as exchange rate woes continue Read More »
Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the United States and will extend the scheme to Europe following requests from its wealthy customers, its Marketing and Commercial chief, Enrico Gallieratold Reuters. Last year, the Italian company sold 13,200 cars, with prices starting at over 200,000 euros or
Why Ferrari now accepts cryptocurrency for luxury cars Read More »
The Managing Director of The Alternative Bank, Hassan Yusuf, has said banking should be of benefit to every one. He spoke during the launch of the bank in Abuja. He said: “We believe that banking should be a platform for shared prosperity, where everyone benefits. “And this explains why we refer to our customers
‘All should enjoy banking services’ Read More »
The Lagos State Government has announced the immediate reopening of Mile 12 International Market, as it has now met all prescribed environmental standards and safety requirements. Recall that Mile 12 International Market was sealed along with Owode Onirin Market for environmental violations on Friday. However, the Lagos Commissioner for the Environment and Water Resources,
Lagos Govt reopens Mile 12 market Read More »
Operators within the Nigerian consumer goods space are adopting new strategies to cushion the effects of a decreasing consumer spend trigged by a headline inflation currently pegged at 24.08 percent. Speaking during an interactive session with newsmen, Ade Sun-Basorun, Chief Executive Officer of FoodCo Nigeria, a diversified consumer goods company and a top 5
How Nigeria’s consumer retail operators are coping with declining household spending Read More »
The over 40 developed and developing countries with gender inequalities pay a huge price with more poverty and deprivation. United Nations Country representative, UN Women Nigeria, Mrs Beatrice Eyoung, said when gender equality is mainstreamed, it becomes a catalyst for economy to flourish. Eyong stated that from studies women lead 90 per cent of
UN explains why women-led businesses fail Read More »
Nigeria Deposit Insurance Corporation (NDIC), said it has disbursed a cumulative insured N1.084 billion to 29,573 depositors as at September 22, this year. The beneficiaries are 29,573 depositors of closed micro finance banks (MFBs) and primary mortgage banks (PMBs). Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, during the NDIC day at
NDIC disburses N1.1b to failed bank depositors Read More »
In the age of digital connectivity, where smartphones have become an extension of our lives, the rising threat of SIM swap fraud is causing alarm among consumers and security experts alike. This insidious form of cybercrime has seen a significant uptick in recent years, leaving individuals vulnerable to identity theft, financial loss, and a
SIM Swap Fraud Rising: Protecting Your Digital Identity Read More »
The Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSBIFI), has urged the federal government to exercise its powers under the exclusive legislative list and take action against deliberate violations of minimum employment conditions by states, corporate entities, and multinational organisations. National President, Association of Senior Staff of Banks, Insurance, and Financial
Financial workers call for end to violations of employment standards Read More »
The Nigerian Communications Commission (NCC) has announced, the number of active mobile subscriptions in the country has reached about 220.716 million as at August 2023. Teledensity stood at 115.63 per cent at the same period. Also, the number of active internet subscribers was 159.035 million with broadband penetration at 45.57 per cent as at
220m active mobile lines in Nigeria – NCC Read More »
