Skip to main content

Posts

CBN’s reforms are attracting more foreign investors, says global, Nigerian analysts

CBN’s reforms are attracting more foreign investors, says global, Nigerian analysts Major financial analysts across the global have expressed optimism that Nigeria’s investment climate has significantly improved, paving way for foreign investors swooping on Nigeria assets. According to the analysts the development has largely been spurred by the impact of the Central Bank of Nigeria (CBN) reforms in the financial sector now spreading across key sectors of the economy. The country is now getting a favorable nod from investors, pushing stocks higher and bond yields lower as painful reforms restore confidence. Already, Nigeria’s sovereign risk spread has fallen to the lowest level since January 2020, erasing the premium accumulated during the pandemic and subsequent strain on its economy. While US President Donald Trump’s widening trade war has taken emerging markets on a wild ride, Nigeria has quietly held its own, attracting foreign capital reassured by currency reforms and other measur...
Recent posts

NAFDAC Introduces New Technologies to Combat Fake Medical Products

NAFDAC Introduces New Technologies to Combat Fake Medical Products  The National Agency for Food and Drug Administration and Control (NAFDAC) has unveiled new technologies to tackle the growing menace of substandard and falsified medical products, particularly in Nigeria’s Northwest Zone.  Speaking at a sensitisation workshop in Kano, NAFDAC’s Director-General, Prof. Mojisola Adeyeye, represented by the agency’s Director of Post-Marketing Surveillance, Mr Bitrus Fraden, introduced three key initiatives—the GreenBook, Traceability Project, and Pediatric Policy.  The “GreenBook” serves as a digital tool to help consumers identify and avoid fake or substandard products. The “Traceability Project” establishes a legal framework to track pharmaceutical products along the supply chain, ensuring authenticity. Meanwhile, the “Pediatric Regulation 2024” addresses the special medical needs of children by ensuring the safety and efficacy of paediatric medicines.  “With...

BREAKING: Court Grants Bail To Ex-NHIS Boss Usman Yusuf

BREAKING: Court Grants Bail To Ex-NHIS Boss Usman Yusuf A Federal Capital Territory (FCT) High Court in Abuja has granted bail to Professor Usman Yusuf, the former Executive Secretary of the National Health Insurance Scheme (NHIS). FocalPoint  reports that Yusuf is facing multiple corruption charges brought by the  Economic and Financial Crimes Commission (EFCC) . The ruling was delivered by Justice  Chinyere Nwecheonwu  on Thursday morning, though details of the bail conditions remain undisclosed. Yusuf was arraigned on five counts of corruption, including embezzlement, abuse of office, and the unlawful award of contracts. The EFCC accused him of approving the purchase of a vehicle at an inflated price of ₦49,197,750—far above the allocated ₦30,000,000. Additionally, he allegedly awarded a ₦10.1 million training contract to a foundation linked to him, despite only half of the intended beneficiaries participating. Another allegation involved awarding a ₦17.5 million ...

Tax Reform Bill: We will balance public interest with revenue overhaul – Speaker Abbas, Faleke

Tax Reform Bill: We will balance public interest with revenue overhaul – Speaker Abbas, Faleke Speaker of the House of Representatives, Abbas Tajudeen, has assured Nigerians that the National Assembly will carefully balance public interest with the need to reform the country’s revenue system while considering the four tax bills currently before the parliament. Speaking at the public hearing on the tax reform bills on Wednesday, Abbas emphasized that taxes must be fair, transparent, and justifiable, ensuring they support public revenue without placing excessive burdens on individuals and businesses. He pledged that the House would thoroughly scrutinize the bills to align them with the best interests of Nigerians. Similarly, the Chairman of the House Committee on Finance, James Abiodun Faleke, highlighted the urgency of overhauling Nigeria’s tax system to align with global economic realities. The tax reform bills under consideration include the Nigeria Tax Bill, the Nigeria Tax Administr...

Tinubu Reaffirms Commitment To APC Agenda

Tinubu Reaffirms Commitment To APC Agenda  President has expressed confidence in the All Progressives Congress (APC) leadership, stating that the party has the capacity to build Nigeria and contribute significantly to Africa’s growth. Speaking on Tuesday during the APC Caucus meeting at the State House, Abuja, Tinubu reiterated his commitment to the Renewed Hope Manifesto, assuring Nigerians of a brighter future. “We can steer the future of this country and make a difference. I like what is happening around the world. It is teaching a lesson that we, particularly Nigeria, is a great African country that can build and help Africa to grow,”  Tinubu stated. FocalPoint  reports that the president emphasized the importance of food sovereignty, saying it is not just about achieving food security but ensuring that Nigeria has full control over its agricultural production. “I am a very happy man; the sunny side of this country is on the horizon. Things are getting bet...

Trump Announces Gold Card, Another Way To Citizenship, At $5 Million

Trump Announces Gold Card, Another Way To Citizenship, At $5 Million President Donald Trump of the United States has announced a new citizenship policy through the Gold Card. FocalPoint  reports that President Trump said the policy would help drive investment into America and provide jobs while helping the country settle its debt. He stated this while addressing newsmen at the White House, on Tuesday. He disclosed that the Gold Card citizenship policy would commence in two weeks. He explained that the Gold Card would be equal to the  Green Card, but would accord more privileges to holders. “ We’re going to be doing something else. It’s going to be very, very good. We’re going to be selling a gold card. You have a green card. This is a gold card. We’re going to be putting a price on that card of about five million dollars. And that’s going to give you green card privileges. Plus, it’s going to be a route to citizenship. And wealthy people will be coming into our count...

Delta Govt transforming Maritime Poly, Burutu, says Governing Chair

Delta Govt transforming Maritime Poly, Burutu, says Governing Chair Chairman,  governing council of Delta State Maritime Polytechnic, Burutu, Chief Julius. Tarabiri Government has appealed to stakeholders to see development of the institute as a journey, not a sprint, assuring the school was being transformed. Chief Government, who also appealed to the Ijaw National Congress, INC, to be visible/active in Delta State to partner the political class towards rapid development for the Ijaw terrain, said the formation of Ijaw Journalists Association Worldwide, IJAW, was a welcome initiative. The Maritime Polytechnic chair made the appeal during a courtesy call on him, weekend, by the IJAW, led by its National President, Bulou Kosin, who voiced concerns that the only and wobbling state-owned tertiary institution in the Ijaw terrain of Delta State was reportedly not yet on the available permanent site, well over a decade, after take-off. Kosin said "IJAW is set to add a clear ...