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Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.
The banking sector is a leading player in Nigeria's economy, and has stayed resilient in the face of several challenges.
This, coupled with the fact that they are currently among Africa's cheapest stocks has magneted investor interest in Nigerian banks. To this end, the public information of listed banks on the Nigerian Exchange were tracked to find the best performers. Read more here.
Business leaders and economists have warned the federal government as it prepares the 2022 budget to ensure that the billion-dollar loans incurred by the administration are disbursed to productive ventures.
The stakeholders, who spoke at a webinar organised by the Abuja Chamber of Commerce and Industry (ACCI) on Tuesday, decried the current application of loans to cover recurrent expenditures. Read more here.
Governor of the Central bank of Nigeria (CBN), Godwin Emefiele has stated that the apex bank will consider accepting foreign exchange for customers with legitimate demand that exceeds transaction limit as long as such applications meet stipulated requirements.
Emefiele made this known during a chat with newsmen over the weekend. He stated that the apex bank was ready to approve requests from commercial banks to go beyond the caps if it is proven that the extra demand for forex is for legitimate purposes. Read more here.
Chairman, Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP), when executed as designed, can save Nigeria foreign exchange in excess of $700million ( ₦28,791,700,000.00) yearly from the backward integration component.
According to a statement by the company, Dangote made the disclosure during a facility tour by some businessmen on Monday in Lagos. Read more here.
Sabrud Consortium Limited has announced that the establishment of Nigeria Electricity Services Agency (NEMSA) in Enugu will help check the proliferation of substandard electricity meters in the Southeast network and environs.
The Managing Director of Sabrud Consortium Limited, an indigenous meter manufacturing company based in Awka, Chiso Nwangwu, made the announcement in an interview in Awka on Thursday. 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.
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