Fakoyejo Olalekan, Author at Nairametrics

Nigerian electric car manufacturer raises $9 million despite protest against electric car in Nigeria

JET Motor Company has raised $9 million from foreign investors as it intensifies the creation of electric vehicles in Nigeria.

FG ignores travel ban calls despite Uganda, US, others move against coronavirus

by Fakoyejo Olalekan

March 13, 2020

The Nigerian government says it has no plan to impose travel ban on travellers because of coronavirus outbreak.

Finance Act dwindling NIPOST revenue as Post Master General plead for review

by Fakoyejo Olalekan

March 12, 2020

According to the Post Master General of the Federation, the removal of stamp duty collection from the duties of NIPOST is...

Field Intelligence raises $3.6 million to take advantage of pharmacy cravings in Nigeria

by Fakoyejo Olalekan

March 12, 2020

Nigerian tech-driven start-up, Field Intelligence has secured $3.6 million in a Series A funding round.

CBN Cashless Policy: Reps eye reversal, Finance Bill: Reps to hold separate hearing today , 40% of Nigeria’s national budget must be voted to capital expenditure - Gbajabiamila , Why Reps will probe Glo, 9mobile, others, House of Representatives postpones President Buhari’s $22.79 billion loan request indefinitely,COVID-19: House of Reps to consider bill for 2-months free electricity supply

House of Representatives postpones President Buhari’s $22.79 billion loan request indefinitely

by Fakoyejo Olalekan

March 12, 2020

The House of Representatives has postponed President Muhammadu Buhari’s request to borrow $22.79 billion indefinitely.

$NCC, MDA, SEEPCO, local content laws, CBN Cashless Policy: Reps eye policy reversal, court Emiefele approval , Lawmakers tackle Finance Minister over failed CCTV project worth $460 million , Former Ghanaian President, Mahama begs Buhari to open border Former President of Ghana, John Mahama has appealed to President Muhammadu Buhari to open up its borders saying that Ghana has been heavily affected by Nigeria’s decision to close its borders. Mahama said that for economic activities to resume in West Africa, Nigeria needs to reconsider its decision on the total border closure. He made this plea while delivering the seventh anniversary lecture of investiture into The Realnews Hall of Fame and the unveiling of a book, titled: Pathways to Political and Economic Development of Africa. According to the former president as reported in The Nation, the closure of especially the Benin border, was taking a significant toll on many small and medium businesses, especially in Togo, Ghana and Cote D’Ivoire, which relied on inter-country trade. “I am sure that businesses in Nigeria that rely on supplies from these countries are also suffering. With the signing of the joint border task force agreement between Nigeria and her neighbours, I will like to take this opportunity to appeal to Nigeria to open up her border so that economic activities can resume,” Mahama said. While reacting to the shut down of shops owned by Nigerians by the Ghana Union of Traders’ Association (GUTA) as retaliation to the border closure, Mahama said; “Back home in Ghana, I also look forward to our government’s intervention that brings an immediate cessation to the forceful and illegal closure of shops of foreigners, especially Nigerians, by members of the local trade associations”. Mahama who is a former Chairman of the Economic Community of West Africa States (ECOWAS) spoke on how he still has an abiding interest in the progress of ECOWAS and its people. In this light, he said that Nigeria being the home of ECOWAS and the largest economy in West Africa should not allow the objective principles for establishment of ECOWAS to be lost. Meanwhile, the Vice Chancellor of Niger Delta University, Bayelsa State, Prof. Samuel Edoumiekumo, advised President Muhammadu Buhari not to yield to pressure to reopen the borders. Edoumiekumo who was also present at the lecture said President Buhari should remain firm in his resolve to ensure economic growth and the country’s development as the border closure will generate more revenue for the nation and tackle smuggling., Nigerians are enraged as lawmakers reject Innoson cars for latest Toyota Camry , FMBN ex-MD ordered to refund his salary, submit FMBN accounts over infractions$

FMBN’s former boss ordered to submit 5-year financial statements in 48 hours

by Fakoyejo Olalekan

March 11, 2020

The immediate past MD of FMBN, Richard Esin, has been given a 48-hour ultimatum to present the bank's five-year financial statements,...

Hope for Nigeria as Russia opens to production cut deal, announces OPEC meeting

by Fakoyejo Olalekan

March 11, 2020

There might be hope for Nigeria and other producers in the oil market as Russia says it is still open...

Access Bank informs customers about changes to Forex requests

Access Bank to establish more African subsidiaries, Herbert Wigwe eyes Francophone region

by Fakoyejo Olalekan

March 11, 2020

Two months after acquiring a bank in Kenya, Access Bank is planning to increase its subsidiaries across Africa.

LCCI, NECA warn FG on endangering productivity of Nigerians, LCCI DG offers equity financing as solution to President Buhari’s cravings for loan

LCCI tasks FG to explore equity financing as an option to cravings for loan

by Fakoyejo Olalekan

March 10, 2020

The DG of the Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, has stated that equity financing is the...

Caverton joins list of companies that postpone their 2019 financial reports submission

by Fakoyejo Olalekan

March 10, 2020

Caverton Offshore has postponed the release of its audited financial statement for the year ended December 31, 2019.