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Chancellor says GDP set to fall 11.3% this year because of pandemic as he sets out spending plans

A beggar-thy-neighbour battle for business will benefit Paris, Frankfurt and Dublin less than some EU politicians imagine

BY ANTHONY AWUNOR  | Chairman of Innoson Vehicle Manufacturing Company Limited (IVM), chief Innocent Chukwuma has warned that the federal government’s proposed reduction of import duties and levies on buses, tractors and other motor vehicles as contained in the recent 2020 Finance Bill will kill the local automotive industry. Chukwuma ...

BY CHIMA AKWAJA, Lagos  | Interswitch has entered into partnership with Finastra, one of the world’s largest fintechs, to deliver innovative, world-class technology-based solutions for digital payments, corporate banking and treasury and trade finance, to financial institutions in Africa. With this strategic partnership, Interswitch becomes Finastra’s lead technology partner in ...

The Lagos State government, through the Lagos State Employment Trust Fund (LSETF), has unveiled a N5 billion ‘Lagos Economic Acceleration Programme (LSETF-LEAP)’ to help Micro, Small and Medium Enterprises (MSMEs) in Lagos recover, save and create more jobs post COVID-19. The initiative is a financial loan support that will provide ...

BY ZAKA KHALIQ, Lagos  | The insurance industry regulator, the National Insurance Commission (NAICOM) is set to sanction underwriting firms owing insurance clients huge unpaid claims, it was learnt. The industry is currently owing over N40 billion in unpaid claims, according to market analysts. To this end, the regulatory body ...

The chances of Nigeria’s former finance minister, Dr Ngozi Okonjo-Iweala, to emerge as the new director-general of the World Trade Organisation is getting brighter as South Korea has decided to withdraw its candidate from the race, according to Washington Trade Daily. Yoo Myung-hee is South Korea’s trade minister and its ...

[Daily Trust] The Federal Government has said that it sees the Islamic economic option as an avenue that will encourage domestic investments and rapid economic development in the country.

A spokesman for the Turkish foreign ministry criticized Greece’s foreign minister on Nov. 24 for adopting an accusing and threatening tone instead of working to solve tensions between Athens and Ankara through dialogue.