Central Bank on Nigeria has restricted importation of sugar into the country to three companies: BUA Sugar Refinery Ltd, Dangote Sugar Refinery Plc, and Golden Sugar Company. CBN stated the reason the three companies were the only ones allowed to import sugar into the country is because of their notable contribution to the backward integration programme introduced by the Federal Government. It added that henceforth, no company outside the aforementioned three should import sugar into the country. This was disclosed in a circular issued on Friday by the bank’s Director, Trade and Exchange Department, Ozoemena Nnaji, with reference number TED/FEM/PUB/FPC/01/006.…

You’ve probably heard that you shouldn’t let your emotions drive your financial decisions. Yet that may be harder than it sounds, especially when the market sells off. In fact, there may be a number of psychological biases holding you back from building wealth. That’s because the part of our brain that allows us to imagine the future doesn’t move as fast as the part that governs emotions, explained certified financial planner Michael Finke, professor of wealth management at The American College of Financial Services. “The emotional part of our brain was effective when doing things like avoiding saber-toothed tigers, but…

Guaranty Trust Bank has announced the appointment of Miriam Olusanya as Managing Director. This was disclosed in a notice signed by the company’s secretary, Erhi Obebeduo, to the Nigerian Exchange Group Limited (NGX). Olusanya, the first female Managing Director in the bank’s history, succeeds Segun Agbaje. During the bank’s investor earnings in September, Agbaje had disclosed that GTBank was looking for its next Managing Director. According to him, five of the bank’s Executive Directors were in line for the top job and were at the concluding stages of the recruitment process Olusanya, until her appointment, was an Executive Director at…

For most people, globalization has for decades been another name for across-the-board liberalization. Starting mainly in the 1980s, governments allowed goods, services, capital, and data to move across borders, with few controls. Market capitalism triumphed, and its economic rules applied worldwide. As the title of Branko Milanovic’s latest book correctly states, capitalism was finally alone. True, there were other aspects of globalization that bore little relation to market capitalism. The globalization of science and information broadened access to knowledge in unprecedented ways. Through increasingly international civic action, climate campaigners and human-rights defenders coordinated their initiatives as never before. Meanwhile, governance…