• Thursday, June 13, 2024
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Five things to know to start your Wednesday


ECOWAS Chairmanship: Tinubu’s emergence will facilitate trade in W/Africa – NASME

The Nigerian Association of Small and Medium Enterprises (NASME) on Tuesday congratulated President Bola Tinubu on his emergence as the Chairman of the Economic Community of West African States (ECOWAS).

Abdulrashid Yerima, the President and Chairman of the Governing Council of NASME, told the press that Tinubu’s emergence as ECOWAS Chairman would ensure policies that would promote economic activities in West Africa.

Tinubu emerged as the Chairman of ECOWAS at the 63rd Ordinary Session of the bloc in Guinea-Bissau.

“We will like to celebrate our president for his emergence as the ECOWAS Chairman.

“This will go a long way in helping the economies of the Micro Small and Medium Enterprises (MSMEs) and facilitate the integration of economic activities in the region,’’ Yerima said.

He said that the success recorded so far by the Tinubu-led administration would also impact and aid trade integration to improve the economies of the West Africa region.

Read also: Tinubu asks Senate to confirm new service chiefs; appointment

ICSAN investiture: FG restates commitment to good corporate governance

The Federal Government has promised to ensure the growth of good corporate governance, culture, and principles in the country.

Olawale Edun, Special Adviser to President Bola Tinubu on Monetary Policies, said this on Tuesday at the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) investiture held in Lagos.

Edun also added that the Federal Government also promised, among other things, to enhance women’s participation in governance.

He said that modern development would always appreciate the great roles women had been playing in the scheme of things, noting that a merit-driven society requires all-inclusive growth and development.

FMDQ Exchange derivatives market goes live

FMDQ Group Plc announced in a statement on Tuesday that its much-talked-about Exchange-Traded Derivatives Market, which is to enable investors to hedge their financial market risks, has gone live.

The exchange said that the exchange-traded Derivatives Market would help investors and market operators convert risk to financial security, which will in turn help attract capital flows and reduce the cost of capital.

It said the new market would not only promote market liquidity but also help regulators and market operators deepen the growth of the Nigerian financial markets.

Rwanda’s economy grew by 9.2% in Q1, 2023 – World Bank

Rwanda’s economy grew by 9.2 percent in the first quarter of 2023, following 8.2 percent growth in 2022, the World Bank said.

However, the Bretton Woods Institution noted that the recent floods, resulting in the loss of life and destruction of infrastructure, are expected to moderate this momentum to 5.8 percent in 2023 against a pre-disaster forecast of 6.2 percent.

The developments were captured in the bank’s 21st edition of the Rwanda Economic Update (REU) report, which highlights positive developments in the country’s economic landscape. Momentum in growth was supported by private consumption and the services sector, accompanied by improvements in the labour market.

The bank added that although Inflation eased, it remained above the target range set by the National Bank of Rwanda during the first half of 2023.

China lashes back at NATO criticism, warns it will protect its rights

Beijing lashed back at NATO’s accusation that China challenges the group’s interests and security and opposed any attempt by the military alliance to expand its footprint into the Asia-Pacific region.

In a strongly worded communiqué issued midway into a two-day summit in the Lithuanian capital of Vilnius on Tuesday, NATO said the People’s Republic of China (PRC) challenged its interests, security, and values with its “ambitions and coercive policies”.

“The PRC employs a broad range of political, economic, and military tools to increase its global footprint and project power while remaining opaque about its strategy, intentions, and military build-up,” NATO heads of state said in their communiqué.

“The PRC’s malicious hybrid and cyber operations and its confrontational rhetoric and disinformation target Allies and harm Alliance security.”

The China-related content of the communiqué disregards basic facts, distorts China’s position and policies, and deliberately discredits China, the Chinese mission to the European Union said in a statement on Tuesday. (Reuters)