economy

Mali, Burkina Faso, and Niger sign a deal to oppose ECOWAS

Mali, Burkina Faso, and Niger sign a deal to oppose ECOWAS

Three military-led West African Sahel countries—Mali, Burkina Faso, and Niger—have signed a security treaty that will make them support one another against any external aggression. They signed the treaty on Saturday, in a development that appeared to counter the threat posed by the Economic Community of West African States (ECOWAS). Recall that ECOWAS issued threats to intervene militarily following the July coup in Niger, that ousted President Mohamed Bazoum. Mali and Burkina Faso have vowed to come to Niger’s aid if it is attacked. ECOWAS and the West have criticized the three countries over military takeovers, which have strained their…
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Meet Olayemi Cardoso, the new CBN Governor,  what you must know about him.

Meet Olayemi Cardoso, the new CBN Governor, what you must know about him.

Following President Bola Ahmed Tinubu’s appointment of Olayemi Michael Cardoso as the Governor of the Central Bank of Nigeria on Friday, the Daily Post has outlined the profile of the new apex bank’s boss. Cardoso replaced Folashodun Shonubi, who served in an acting capacity after the suspension of Godwin Emefiele on June 9. PROFILE Mr Cardoso, a native of Lagos State, holds a Master’s in Public Administration and Management from Harvard University. He was the first commissioner for Economic Planning and Budget in Lagos State upon the return to civilian democracy in 1999 under Tinubu as the then governor. Cardoso also worked…
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According to Tinubu, the strategy of subsidy withdrawal has saved Nigeria about N1trn.

According to Tinubu, the strategy of subsidy withdrawal has saved Nigeria about N1trn.

On Monday, President Bola Ahmed Tinubu passionately pleaded with Nigerians to embrace his government's strategy of removing subsidies as well as other intervention programs. In the first instance, he used the national briefing to provide justification for the policy, noting that since his administration took office, the government had saved more than a trillion Naira that would have been wasted on the useless fuel subsidy. Tinubu claimed that the questionable subsidy scheme mainly benefited fraudsters and smugglers, further supporting his assertions. He promised that the money would now be used more directly and to your family's benefit. Tinubu stated in…
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Wema Bank Plc Launches Phygital, Its New in-branch Self-Service Offering.

Wema Bank Plc Launches Phygital, Its New in-branch Self-Service Offering.

Wema Bank Plc, the leading financial institution in innovation and technology, has launched Phygital Branch, a self-service platform that combines the best aspects of traditional and digital banking, in all its branches nationwide. YouTube video: https://youtu.be/EGIMo97rddM “Phygital is the result of Wema Bank’s recognition that a segment of our customers still enjoys the physical experience of traditional banking but without potential hassles such as queues that can diminish the experience.”, announced Mabel Adeteye, Wema Bank’s Head of Brand and Marketing Communications at the launch of the initiative. “Phygital tablets grants our customers the seamless in-branch experience they desire by reducing…
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According to Alfred Musonda, Russian mining businesses in Zimbabwe were sold for US$90 million.

According to Alfred Musonda, Russian mining businesses in Zimbabwe were sold for US$90 million.

Even if state-level cooperation and private investment in the most lucrative sectors of Zimbabwean production are growing between Zimbabwe and Russia, some Russian businesses are exiting the market and selling their holdings there. For instance, numerous businesses recently sold for $90 million. These diamond mining firms are permitted to operate in Bulawayo. Several reports claim that the sale was completed quickly; the reasons behind this have not yet been made public. The amount paid by the buyer, who has not yet been named, was decreased due to the urgency with which the sale needed to be completed. The issue of…
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