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Published 12 May 2021
Nigeria’s diaspora remittances have been projected to rise by five per cent to $22bn by the end of 2021.
Agusto Consulting Limited, a wholly owned subsidiary of a rating agency, Agusto & Co. Limited, disclosed this in its report titled ‘2021 Nigeria diaspora remittance report & survey’ for May 2021.
The report was presented by the Managing Director, Yinka Adelekan, and the Head of Consulting, Jimi Ogbobine, during a virtual event on Tuesday.
Part of the report read, “We project that Nigeria’s diaspora remittances will reach $22bn by 2021, representing a year-on-year (y-o-y) rise of five per cent.
“And then a marginal y-o-y rise of two per cent in 2022 to $22.5bn.”
By James Emejo in Abuja and Nume Ekeghe in Lagos
Analysts yesterday threw their weights behind the recent recommendation by the Presidential Economic Advisory Council (PEAC) to President Muhammadu Buhari for an end to fuel subsidy.
They said in separate interviews with THISDAY that petrol subsidy removal was long overdue.
The analysts described the state of the Nigerian economy as currently weak, adding that this could be worsened by payment of subsidy claims, especially given the malpractices surrounding previous disbursements.
The analysts added that subsidy created a distortion in the economy, leading to “spurious payments or in the current situation, so-called under-recovery.”
By
Tue Apr 27 2021
Access Bank Plc made bold its intentions in 2020 to play big on the African stage with a series of cross border acquisitions and now sustaining the momentum thus far in 2021.
In furtherance of this drive, Access Bank Plc last week entered into a definitive and binding agreement with ABC Holdings Limited to acquire 78.15 per cent shareholding in the African Banking Corporation of Botswana Limited (BancABC Botswana).
The transaction, which is subject to regulatory approvals and customary conditions precedent, is expected to close before the end of this quarter.
ABC Holdings is a subsidiary of London Stock Exchange listed group – Atlas Mara Limited.
Herbert Wigwe
Access Bank Plc has intensified its cross-border expansion in order to take advantage of opportunities in the African Continental Free Trade Area, which has been described as a potential game-changer for the continent, writes Obinna Chima
Inline with its expansion drive, Access Bank Plc last week entered into a definitive and binding agreement with ABC Holdings Limited to acquire 78.15 per cent shareholding in the African Banking Corporation of Botswana Limited (BancABC Botswana).
The transaction, which is subject to regulatory approvals and customary conditions precedent, is expected to close before the end of this quarter.
ABC Holdings is a subsidiary of London Stock Exchange listed group â Atlas Mara Limited.
“We have about 24,500 female agents representing 28 per cent of the agents in our network. It gives us much joy to see that more women are embracing this proposition and getting empowered.
“A review of the performance of the FirstGem initiative shows the effectiveness of our efforts to elevate and empower the Nigerian woman. In 2020, we gave out loans of N58bn to over 81,000 female entrepreneurs and professionals,” he noted.
In a lecture, Chairman of First Bank Nigeria, Mrs Ibukun Awosika, who spoke on the theme, ‘Art of Negotiation’, said although women are equally smart, they are still disadvantaged.
“Even if you do not like technology, it is going to affect your life. So, it is your reality and you must rise up and take up the challenge on how you will engage technology,” she said.