Business Briefings
West African Central Banks Advance Plans for Eco Currency
Central bank governors from 12 West African countries, including Nigeria, met in Monrovia, Liberia, to finalize preparations for the planned 2027 launch of the Eco regional currency. The three-day session, organized under the Economic Community of West African States (ECOWAS), focused on aligning policies and establishing governance structures for the single currency.
The initiative is aimed at promoting economic integration, strengthening monetary cooperation, and facilitating cross-border trade across the region. The first rollout is expected to include Liberia, Nigeria, Ghana, Sierra Leone, Guinea, and The Gambia, contingent on meeting agreed macroeconomic criteria.
The Eco currency is expected to simplify trade through a unified payment system, support price stability, attract foreign investment, and streamline cross-border transactions. Challenges include fiscal policy differences among member states, high inflation in some countries, and exchange rate volatility. If successfully implemented, the Eco could strengthen financial integration, reduce currency conversion costs, and enhance regional commerce.
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Tinubu Nominates Taiwo Oyedele as Minister of State for Finance
President Bola Ahmed Tinubu has nominated Taiwo Oyedele as Minister of State for Finance, replacing Doris Uzoka-Anite in a cabinet reshuffle designed to reinforce the administration’s fiscal reform agenda. The nomination has been forwarded to the Senate for confirmation. Following the development, Uzoka-Anite has been reassigned to serve as Minister of State at the Ministry…
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NAICOM, BPP Partner to Standardise Bond Issuance
The National Insurance Commission and the Bureau of Public Procurement have entered into a Memorandum of Understanding to harmonise guidelines for issuing insurance bonds within Nigeria’s public procurement framework. The agreement was formalised in Abuja by the heads of both agencies as part of efforts to enhance oversight and ensure consistency in the issuance of…
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Maiden Edition of PRCAN Knowledge Hub Holds in 3 Weeks, Featuring Local and International AI Experts
The Executive Council of the Public Relations Consultants Association of Nigeria (PRCAN), under the leadership of Dr. Nkechi Ali Balogun, has announced the maiden edition of the PRCAN Knowledge Hub (formerly PRCAN Masterclass Series), scheduled for Tuesday, March 24, 2026. The hybrid event will hold at the Lagos Marriott Hotel, Ikeja, and will feature renowned…