NaijadeepTV

  Oxfam Nigeria, a non-profit organization, urges the incoming government to reduce poverty.   According to Vicent Ahonsi on Sunday, he was concerned about the fund allocated to education and another sector. Speaking onAhonsi statement, the government should go against the separation of women and persons living with disabilities. “The incoming government needs to take urgent steps towards ending hunger, reducing inequality, and reducing the number of Nigerians living below the poverty line," the statement reads. “To stimulate economic recovery, the new government needs to realize that small & medium enterprises (SMEs) are key to building an economy that is fair and just as they constitute a sustainable approach to tackling the developmental challenges that the economy is facing. “The SME sector has proven to be the backbone of major developed and emerging economies, as an important contributor to employment and economic growth.” According to the international labour organizati

  As of the end of last year, Nigerians still face a scarcity of naira which is affecting the growth of the country. Through the Central Bank of Nigeria redesigning the naira, the economic growth of the country is been affected, and most citizen experience scarcity. According to the report, what bring about the shortage and reduction of money, was the withdrawal of old notes in January with a lot of queues in banks this bring about a lack of new naira notes. The scarcity of money has affected the standard of living, and economy in Nigeria.  Point of sales(POS), in Nigeria, has gained a lot during the cashless policy in the country.  According to the report, money is available at the automated teller machine(ATM), but most citizens prefer the use of  Pos for quick services. “PoS business in Nigeria is not just for making payments and transfers. You can use it for Airtel recharge, utility service payments, and other taxes,” Deborah Oni, a PoS operator, said, disclosing that more people m

  According to the new report, by the United Nations Conference on Trade and Development (UNCTAD), findings show that as of last year, 81 developing countries (excluding China) lost $241 billion in international reserves. According to UNCTAD, on Wednesday 7 percent was recorded as the average decline in the developing country, and also over 10 percent was recorded in 20 countries. According to the new report, there is a decline in the gross external reserves in one  f the developing countries is known as Nigeria. Speaking to the report by central bank of Nigeria, in March this year thgeriNigeria's external reserve declines to $35.74 billion indicating lowest balance since 2021. According to the uUnitedConference on Trade and Development, statement Since the global economy slows down, the developing country are facing difficulty.  According  to the UN trade and development body, over $800billion estimated as the interest rate in the developing countries.  “Developing countries face

  According to the report, the total group asset of the Bank Of Industry(BOI), increase to N2.38 indicating a 39.2 percent growth. As at last year December, the Bank Of Industry(BOL) increased in the growth of the industry which brings about outstanding financial performance in industry. According to the bank, there is continual growth in the industry yearly, which make the industry to be the largest and also has a positive impact on the financial status. Speaking on the Gross earning of the industry, as of 2021 it increase by 15.4 percent in 2022 from N184.55 billion to N212.96 billion.Also, there was an increase in customer loans and investments by 21.1 percent. According to the bank, since there is a growth in the interest income it makes the profit before tax (PBT)increase by 15.6 percent. Speaking on the Total equity of the banks rose by 11.7 percent to N429.83 billion compared to the previous years, the loan and advances also increase.   Speaking on the bank development, the bank

For the financial year ended December 31, 2022, Guaranty Trust Holding Company Plc on Friday announced a profit before tax of N214.2 billion. The company made this known in its audited financial result released in Friday.  The decrease in profit before tax, according to results made available to the Nigerian Exchange Group and London Stock Exchange, represented a 3.3 per cent dip from N221.5 billion posted in the corresponding year ended December 2021. It, however, attributed the decrease in PBT to N35.6 billion impairment recognised on Ghanaian sovereign securities. The Group’s loan book (net) increased by 4.6 per cent from N1.80 trillion as at December 2021 to N1.89 trillion in December 2022, while deposit liabilities grew by 11.6 per cent from N4.13 trillion to N4.61 trillion during the same period. Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr Segun Agbaje, said, “This underscores our strong business fundamentals and unwaveri

  The sum of N15.79 billion as a death benefit to the administrator and legal beneficiaries for 5,562 deceased employees and retirees has been approved by the National Pension Commission.   According to Pencom, benefits presented significant challenges to retirees. “Before the CPS, large pension liabilities made it impossible for the federal and state governments to meet their pension obligations to retirees. At the same time, the private sector retirement plans offered low pensions,” PenCom said. According to the report,  management from custody under its regulatory supervision introduced by byS revolutionized Nigeria’s pension and retirement landscape.  “The RSA allows participants to open individual accounts where contributions accumulate until retirement,” the commission said. “The RSA eliminates pension liabilities, and once an employee exits active service, funds are available for immediate payment of retirement benefits. The RSA also allows members to make voluntary contribution

  Since 2016, Over $ 23 million is invested in producing Nigerian movies, said Video streaming company Netflix. The new report, Netflit‘Socio-economic Impact focuses specifically on its major markets in Africa, which include Nigeria, South Africa, and Kenya. Between 2016 and 2022 $ 175 million in content is invested in these countries for local creatives.  According to Netflix, Nigerian movies invested on were the top-producing movie which is  Anikulapo and Blood Sisters and Other. According to Netflix, there are some impacts it has made. “Our investment of over USD 23 million has had significant impacts on the Nigerian economy.  “Through direct, indirect, and expenditure impacts across the economy, our investments have contributed USD 39 million towards GDP, USD 34 million towards household income, and USD 2.6 million towards tax revenue.  “A total of 5,140 jobs throughout the economy were supported, In addition to our upfront investment in productions and the ongoing training we prov