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Recently, in response to the rising cost of food in the market, the Lagos State Government launched a five-year plan that will enhance food sufficiency in the state. The State Governor, Babajide Sanwo-Olu, says the road map will give Lagos comparative advantages in the sector and enhance self-sufficiency in food production from the current 18…
Infrastructure Corporation of Nigeria (InfraCo) is the latest effort of the government to deepen infrastructure development in Nigeria by financing public asset development, rehabilitating old assets, and constructing new ones. The initiative has the aim of raising $36.7bn with a seed capital of N1trn (about $2.6bn) coming from the Central Bank of Nigeria (CBN), the…
For keen observers of recent occurrences in the banking sector, it could easily be identified that the underlining issues were all linked to non-repayment of loans and poor servicing of credit facilities. The Central Bank Governor, in his speech to justify his intervention at FirstBank where he reinstated the Managing Director and sacked the entire…
Cuba marked the end of an era with the official transfer of power from the Castro family to the communist country’s first civilian leader, Miguel Diaz-Canel. On 16 April 2021, Raul Castro (younger brother of longtime Cuban leader Fidel Castro) relinquished his position as the first secretary of the Communist Party of Cuba. The formalities…
In life, few people are born into wealth, while many others need to work very hard to attain it. However, one lesson life has taught humanity is that being born with or without privileges is not a guarantee of long-lasting success. Nothing is guaranteed in life as everyone must work to earn his or her…
Mixed reactions have trailed Nigeria’s public financial sector since Edo State, Governor Godwin Obaseki on 10 April 2021 disclosed that the Federal Government printed N60 billion as part of the federal allocation for March. This earth-shaking disclosure was made during the state transition committee stakeholders’ engagement. After four days of anxiety, as the public waited…
A few days ago, the Central Bank of Nigeria (CBN) obtained an interim order from the Federal High Court, Abuja Division to freeze eleven bank accounts of five companies and one individual for 45 days. The order empowers the apex financial regulatory body to conduct investigations into suspicious activities including money laundering and illegal forex…
The Finance Act 2020 was signed into law on 31 December 2020 by President Muhammadu Buhari and took effect on 1 January 2021. One major aspect of the Finance Act 2020 is the Unclaimed Funds Trust Fund. According to the Finance Act 2020, any unclaimed dividend of a public limited liability company quoted on the…
Lagos State has been experiencing a massive population increase in the last two decades. This is mainly due to galloping urbanisation and huge exodus from rural to urban areas. Owing to its teeming population, Lagos State is constantly faced with enormous challenges in terms of infrastructure provision and the need to cope with the increasing…
In the world today, the privileged positions of founders and Chief Executives have almost become exclusive to degree and MBA holders. However, a few have proven with their stories that grit, hardwork, sweat ,toil and initiative can make a man successful in business, even without executive degrees. Two successful entrepreneurs and key personalities that stand…