Friday, September 21, 2018

Tag "SMEs"

    How poor power supply is hindering growth of Nigerian SMEs

How poor power supply is hindering growth of Nigerian SMEs

BY JONATHAN EMMANUELAccess to power expands the number and variety of business and job opportunities available. Electricity means that small businesses, such as barbers hairdressing salons, laundromats, welders etc, rely on energy to function. Energy also leads to the creation of new markets, businesses and job openings, which provide more opportunities for individuals to earn an income and lift them, [...]

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    Union Bank, Connect Nigeria to honour 100 SMEs

Union Bank, Connect Nigeria to honour 100 SMEs

Union Bank has partnered with Connect Nigeria to launch a campaign meant for honouring the top 100 emerging small and medium enterprises (SMEs) in the country.This was announced at a business fair for SMEs which held recently at the Eko Hotel & Suites in Lagos.The business fair featured a large gathering of SMEs in Africa, bringing together business owners, startup founders [...]

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    GoOnline: 50 winners to emerge at TechPlus 2017

GoOnline: 50 winners to emerge at TechPlus 2017

GoOnline Nigeria, a business growth programme for digital transformation of small and medium enterprises (SMEs), says it will soon announce 50 SMEs that will benefit from the pilot of its digital transformation programme.The announcement will be made at TechPlus 2017, which will hold at Landmark Centre, Victoria Island, Lagos, between July 6 and July 8.In a statement on Monday, Foluso Busari, [...]

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    NAFDAC grants 50 percent registration fee waiver to SMEs

NAFDAC grants 50 percent registration fee waiver to SMEs

The National Agency for Food, Drug Administration and Control (NAFDAC) says it has waived 50 percent on registration fee for locally manufactured products to promote Small and Medium Scale Enterprises (SMEs).Speaking to NAN on Friday, Abubakar Jimoh, spokesperson of NAFDAC, said that the measure would go a long way in promoting economic development.He explained that the measure was put in [...]

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    ‘We can’t kill our people’ — CBN resists call by ‘Washington Consensus’ to float the naira

‘We can’t kill our people’ — CBN resists call by ‘Washington Consensus’ to float the naira

The Central Bank of Nigeria (CBN) has resisted calls from financial institutions in Washington to float the naira, saying it cannot kill Nigerians in the name of floating the naira.Speaking to journalists on the sidelines of the World Bank/IMF meetings, Isaac Okorafor, spokesman of the apex bank, also restated the CBN's commitment to ensuring access to forex by the drivers [...]

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    CBN opens another FX window specially for small businesses

CBN opens another FX window specially for small businesses

The Central Bank of Nigeria (CBN) has opened another foreign exchange window  for small and medium scale businesses.CBN says the window, which would allocate $20,000 per business per quarter, is to help small and medium enterprises (SMEs) import "eligible finished and semi-finished items" needed for their businesses.Isaac Okorafor, the CBN spokesman, disclosed this on Monday, further explaining that the bank’s [...]

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    How SMEs can attract new customers despite recession

How SMEs can attract new customers despite recession

BY DAMILOLA OYEBAYOThe purpose of every business is to create value for the stakeholders; the primary stakeholders include investors, employees and customers, in broad terms, every enterprise must seek to make profit, pay the wages of its workers, retain old and attract new customers.The negative impact of the current economic downturn in Nigeria is not only felt by individuals [...]

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    Adeosun: FG to pump $1.3bn into SMEs

Adeosun: FG to pump $1.3bn into SMEs

Kemi Adeosun, minister of finance, says the federal government will establish a Development Bank to provide support to Small and Medium Enterprises (SMEs) in Nigeria.Adeosun made this known while speaking on the finance policy of the government at the Wealth Creation Platform, organised by the Kingsway Christian Centre (KICC).The minister said the bank will begin operation in January 2017 with [...]

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    Adeosun picks BoI risk officer to spearhead economic reconstruction

Adeosun picks BoI risk officer to spearhead economic reconstruction

Kemi Adeosun, minister of finance, has approved the appointment of Ezekiel Oseni as acting managing director of the National Economic Reconstruction Fund (NERFUND).Oseni, who assumes his NERFUND duties with immediate effect, was until the appointment a general manager and chief risk officer of the Bank of Industry (BoI).According to a statement by Mahmoud Isa-Dutse, permanent secretary of the ministry of [...]

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    Fidelity Bank targets retail, SMEs as corporate margins narrow

Fidelity Bank targets retail, SMEs as corporate margins narrow

Fidelity Bank Plc is raising its play in the retail, commercial and small and medium enterprises sector, where opportunities abound for higher returns, John Obi, executive director, corporate bank, has said.He said  corporates are witnessing shrinking margins.The new policy does not mean that Fidelity is de-emphasising its operations in the corporate sector, but will seek to operate along the entire [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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