The railway unit of China’s state-owned construction company said it has signed a $6.68 billion railway project with Nigeria. The company said in an official statement that the: “China Civil Engineering Group Co., Ltd. has diplomatic relations with Nigeria. The Ministry signed a supplementary implementation agreement No. 4 between Lagos […]
Global ratings agency, Moody’s said the outlook for the Nigerian banking system remains stable as banks’ foreign currency liquidity risks moderate. Moody’s said the stable rating is due to rising oil prices and a more liberal foreign exchange policy, says Moody’s Investors Service in a report published today. The report, […]
Nigeria’s President Mohammadu Buhari has appointed, Festus Keyamo to the executive board of the Nigerian Deposit Insurance Corporation. The NDIC is Nigeria’s insurance company for all deposits of large and small lenders in Africa’s largest economy. Festus Keyamo is a human right lawyer with close links to President Buhari. He […]
Despite the huge growth prospects in West Africa’s economies, the International Monetary Fund, IMF, said there are concerns of rising debt profiles which could in the medium term harm their outlook. The IMF said growth in sub-Saharan Africa is projected to pick up modestly from 2⅔ percent in 2017 to […]
South Africa’s revenue service said it will take disciplinary actions against Tom Moyane, its former boss for misconduct during his stay. Tom Moyane who is a close associate of South Africa’s former President, Jacob Zuma. Tom Moyane was removed in March by President Cyril Ramaphose after saying he had lost […]
As a follow up to its Yuan currency swap deal with China worth about $2.5 billion, Nigeria is said to have picked lenders who who will manage the transactions. According to ThisDay Newspaper, Standard Chartered Bank, Stanbic IBTC, Zenith Bank and First Bank of Nigeria have been appointed to manage […]
Africa’s largest economy, Nigeria has entered a yuan currency swap agreement with China, the world’s second-largest economy. Under the agreement, Nigeria and China will exchange goods and services in the region of 15 billion yuan.
Most companies know the cost of their talent, but they have no way of quantifying its value. A disconnect between talent and value is a risky business—and regrettably common. Gaining a true understanding of who your top talent is and what your most critical roles are is a challenging task, […]
There seems to be no end in sight on the sale of 9mobile as a Nigerian court has issued an exparte motion to stop the acquisition. It would be recalled that 9mobile was acquired by Teleology Holdings in an acquisition deal that was brokered by Barclays Africa. Justice Binta Nyako […]
The engineering unit of the Nigerian National Petroleum Corporation, NNPC has reported a profit before tax of N3.26 billion for the full year 2017. The result was a downward spiral of about 34% on a year on year basis. The NNPC is Nigeria’s national oil company.