Business News Roundup From May 27 - June 2, 2023

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Stop Empowerment Programmes, Invest In Nigerian Youths, AfDB President To FG

The President of the African Development Bank (AfDB), Akinwumi Adesina, has urged the Federal Government to stop its youth empowerment programmes and invest in the youths.

He said this at the inaugural lecture for the Nigeria’s President, Bola Tinubu, in Abuja.Read more here.

We Will Readdress Naira Redesign Policy — President Tinubu

President Bola Tinubu has pledged to readdress the naira redesign policy of the Central Bank of Nigeria (CBN).

He made this known in his inaugural speech in Abuja on Monday, saying that his administration would treat both the old and the new naira notes as legal tender. Read more here.

Nigeria Spent N72 Billion To Import Milk In 2022

Data from the National Bureau of Statistics (NBS) has shown that at least N72.9 billion on importation of milk in 2022.

The report titled: “Foreign Trade Statistics”, disclosed that N27.6 billion worth of the commodity was imported in the first quarter of the year, followed by N21.3 billion in the second quarter and N23.9 billion in the third quarter, while the data for the fourth quarter was not available as the product did not make it into the top five imported raw material products. Read more here.

Zenith Bank Bags Best Corporate Governance Financial Services Award

Zenith Bank Plc has bagged the ‘Best Corporate Governance Financial Services’ in Africa award in the 2023 financial year.

According to a statement, the award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalisation of corporate governance, setting an industry-wide example of best practices in that field. Read more here.

Forex Scarcity Hurting Manufacturing Sector — May & Baker

Pharm Patrick Ajah, the Managing Director and Chief Executive of May & Baker Nigeria, has decried the scarcity of foreign exchange (Forex) and multiple duties in the economy, saying that they are hurting the manufacturing sector.

Speaking at the company’s Customers’ Forum in Lagos, Ajah called on the government to urgently address these challenges and other unfriendly policies affecting the ease of doing business in the country. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.