FG Suspends Issuance Of Licenses For Free Trade Zones, Inaugurates Performance Evaluation Panel

The Federal Government of Nigeria has suspended the issuance of licences for the operation of free trade zones (FTZs) across the country. The Minister of Industry, Trade and Investment, Niyi Adebayo revealed the development during the inauguration of the panel set up to evaluate the performance of Free Trade Zones; which was held on Monday.…

Concerning the FG policy on Digital Economy, 9mobile pledges their support

Concerning the FG policy on Digital Economy, 9mobile pledges their support

Concerning the FG policy on Digital Economy, 9mobile pledges their support. Toward the country’s economic transformation through the Digital Economy policy strategy of the Federal government the Nigeria’s leading telecoms provider, 9mobile has promised it support. Alan sinfield, the chief executive officer of the company who was accompanied by the members of the management team,…

In order to facilitate online procurement of COVID'19 Afreximbank provides $100 million overdraft facility for African States

In order to facilitate online procurement of COVID’19 Afreximbank provides $100 million overdraft facility for African States

The Pan-African multilateral EXIM bank, African Export-Import Bank (Afreximbank), in order to help it member states to procure COVID’19 related medical through the Africa Medical Supplies Platform (AMSP) announces $100 million financial support in the form of pre-approved overdraft limits for each African government, the funding is available to African Governments to acquire the medical…

A recent engagement between FG and organized labour to revitalize the oil and gas sector

A recent engagement between FG and organized labour to revitalize the oil and gas sector

The Federal Government and Organised Labour (NLC, TUC and others) held consultation meetings on September 15, 24 and 27, 2020. Following the extensive deliberations, the following resolutions have been reached: A Technical Committee on Electricity Tariff policy has been established. This committee Wii be chaired by the HMS Labour and Employmen, Festus Keyamo and comprises…

According to the UN report, Nations lose $500 billion to profit-shifting enterprises annually.

According to the UN report, Nations lose $500 billion to profit-shifting enterprises annually.

According to a UN Nations panel of experts profit-shift enterprises cost governments about $500 billion (N190 trillion) in losses annually. Multinationals use the profit-shift which is a corporate tax planning strategy to move profits from higher-tax jurisdictions to lower-tax jurisdictions which reduces their tax burdens in the higher-tax jurisdictions. The estimate was from an interim…

FG begins it registration for the N75bn MSME survival fund to self employed, transporters, and artisans

FG begins it registration for the N75bn MSME survival fund to self employed, transporters, and artisans

The Federal Government of Nigeria has started the registration of potential beneficiaries of two MSMEs initiative which are the #15 billion Guaranteed offtake Scheme to help alleviate the impact of the covid’19 pandemic with the mind to foster the economy of the country by creating new job opportunities and saving existing jobs and the MSME…

The former partner of U.K. Accounting Watchdog, Deloitte, has been fined over autonomy audits

Deloitte has been fined £15 million ($19.5 million) and two former partners has been sanctioned over past audits of British SoftWare Company Autonomy Corporation PLC by U.K. accounting Watchdog. The Financial Reporting Council said the former partners Richard Knights and Nigel Mercer and Deloitte were sanctioned based on a disciplinary tribunal found misconduct which is…

The decline in U.S. GDP in second quarter increased to 31.4% historically

Trump Gives His ‘Blessing’ on Oracle And Walmart To Acquire 20% Stake In TikTok

Walmart will have a 7.5%, while Oracle will acquire 12.5% of the video sharing platform. Walmart said in a statement, as part of the deal, Oracle will serve as TikTok’s “secure cloud technology provider” and Walmart will be a commercial partner by entering “into commercial agreements to provide our e-commerce, fulfillment, payments and other omnichannel…

The world bank report that the pandemic threatens the human capital gain of the past decades

The world bank report that the pandemic threatens the human capital gain of the past decades

A new world bank analysis finds that the global coronavirus pandemic threatens the gains in education and health over the past decades, specifically in the poorest countries. The key to discover the untapped potential in every child and improve the economic growth in every country is investment in human capital which includes the knowledge, skills,…

African private sectors are demanding for fairer and more transparent global trading system

African private sectors are demanding for fairer and more transparent global trading system

The private sector’s desire for considerable reforms to make the global trade rules system fairer and more transparent was revealed in a survey issued by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) to gauge the private sector view around trade. Concerning WTO and trade in general two hundred CEOs where surveyed. This was…

$200m was disbursed to Zenith Bank by Afreximbank to ease the impact of the COVID'19 pandemic.

$200m was disbursed to Zenith Bank by Afreximbank to ease the impact of the COVID’19 pandemic.

$200m has been given to Zenith Bank to assist them to maintain the foreign currency trade flows impacted by the coronavirus pandemic.The eligible sub-borrower involved in the manufacture and supply of medical resources required to fight the COVID”19 global pandemic, they also allow Zenith bank to on-lend to them. Mr. Ebenezer Onyeagwu, the Group Managing…

Trade and Investments, a way out of Nigeria’s economic troubles – Fola Fagbule

Trade and Investments, a way out of Nigeria’s economic troubles by Fola Fagbule

Fola Fagbule, Senior VP and Head Advisory at Africa Finance Corporation said this amazing opportunity for Nigerians and what he said is this “investment and legitimate export trade is a feasible way out of Nigeria’s economic burdens which could move Nigeria as a country away from crude oil dependence”. READ: Amaechi believes Chinese loan probes…

UK issues new travel advice for foreign students, can work for 3 years after graduating

UK issues new travel advice for foreign students, can work for 3 years after graduating

The united kingdwom in there recent updates for travel advice presented some flexibility into there policies for international students applying for student visa due to the current global restriction as a resultant effect of the corona virus pandemic. The immigration and visa office said students who cannot travel to the UK due to the pandemic…

Facebook offer

Facebook announces $100M grant program for small businesses.

Facebook announces: Regardless of how the COVID-19 pandemic plays out in the coming weeks and months, it has already been brutal for small businesses, with some forced to close for public safety, while others are taking a big hit in both revenue and access to credit. So Facebook  announced today that it’s creating a $100 million grant program for small businesses.…

Facebook Shop

Facebook and Instagram storefronts.

Facebook and Instagram: Starting today, you’ll be able to browse and buy products directly from a business’ Facebook  Page or Instagram profile. Both Facebook and Instagram  already supported a degree of e-commerce — for example, Facebook has its Marketplace and will likely make a bigger push through its Libra cryptocurrency initiative, while Instagram allows users to buy products featured in posts and ads. But…