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Over 50% of financial industry ready for data localisation — CBN
business

Over 50% of financial industry ready for data localisation — CBN

The Director, Payment System Supervision Department, CBN, Dr. Rakyat Yusuf, disclosed this at the CBN-National Information Technology Development Agency (NITDA) Executive Regulatory Dialogue on the National Sovereign Cloud Initiative (NSCI) and data localisation in Lagos. Also speaking, the Deputy Governor, Financial System Stability, CBN, Lamido Yuguda, said Nigeria must strengthen control over its critical digital infrastructure while remaining open to global technological developments.

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84.9m informal workers face retirement without safety net
business

84.9m informal workers face retirement without safety net

By Victor Ahiuma-Young The National Pension Commission, PenCom, is stepping up efforts to expand pension coverage among Nigeria’s self-employed and informal sector workers, as an estimated 84.9 million people remain without pension coverage, exposing a significant gap in the country’s retirement security system. Figures presented at the 2026 Annual PenCom Media Conference in in Lagos, showed that although the informal sector accounts for an estimated 93 per cent of Nigeria’s workforce, only 242,690 informal sector workers had enrolled in the Personal Pension Plan, PPP, as of July 2026.

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Rupee falls 21 paise to close at 95.28 against U.S. dollar
business

Rupee falls 21 paise to close at 95.28 against U.S. dollar

In the interbank foreign exchange market, the rupee opened at 95.01 against the dollar, then lost ground to touch an intra-day low of 95.29 and finally settled for the day at 95.28 (provisional), registering a decline of 21 paise over its previous close

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Reconsider 20% excise tax removal on locally produced fruit juices – VAST Ghana to Finance Ministry
business

Reconsider 20% excise tax removal on locally produced fruit juices – VAST Ghana to Finance Ministry

Vision for Accelerated Sustainable Development, Ghana (VAST Ghana) has urged the Finance Ministry to reconsider removing the 20 per cent excise tax on locally produced fruit juices under the Excise Tax Act 2026. A statement copied to the Ghana News Agency by Ms Jennifer Maame Ama Owusu, Communications Manager, VAST Ghana, also urged the Ministry of Health to urgently address the 20 per cent excise tax cut.

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Bawumia calls for scrapping of proposed pre-shipment vehicle inspection
business

Bawumia calls for scrapping of proposed pre-shipment vehicle inspection

New Patriotic Party (NPP) 2028 flagbearer Dr Mahamudu Bawumia has called for the abolition of a proposed pre-shipment inspection requirement for imported vehicles following a meeting with the leadership of the Vehicles and Assets Dealers Union of Ghana (VADUG). In a Facebook post, Dr Bawumia said the meeting was part of his stakeholder consultations to understand the industry’s concerns and explore possible policy interventions.

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‘The more you earn, the less you keep’: readers react to the budget
business

‘The more you earn, the less you keep’: readers react to the budget

From a young chef and a single father to business owners and a pensioner, Guardian readers reveal how John Healey’s measures will affect them What the budget means for you Louie, 24, a chef living in London, says a lot of people have “written off the idea of even considering getting a property” in their 20s.

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How will John Healey’s energy support package affect you?
business

How will John Healey’s energy support package affect you?

Chancellor’s ‘new course’ includes a £100 one-off payment, low-carbon upgrade loans and an end to standing charges John Healey has unveiled a package of support for households being buffeted by “global economic storms”. “I’m setting a new course to get energy costs down in line with Europe,” the chancellor said in his maiden budget.

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‘There has to be a bolder shift’: retail and hospitality businesses assess relief in budget
business

‘There has to be a bolder shift’: retail and hospitality businesses assess relief in budget

Chancellor cuts business rates for more small businesses and limits rise in minimum wage for younger workers Budget 2026: key points at a glance “It is like letting the tyres down and then handing you a pump,” says James Nye, assessing the relief handed to businesses in John Healey’s first budget as chancellor. The managing director of Norfolk’s Anglian Country Inns argues that the budget made a “couple of steps towards helping” but added more labour costs for already burdened companies.

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Mercedes To Cut More Jobs As Chinese Competition Bites
business

Mercedes To Cut More Jobs As Chinese Competition Bites

Premium German carmaker Mercedes-Benz will restart a voluntary redundancy programme and is in discussion with unions over further cost-cuts, its chief executive Ola Kaellenius said Wednesday after the firm warned on full-year profits. Labour costs in China, Hungary, Romania and the United States are all lower than in Germany, Kaellenius said, adding that “eastern Europe as a whole is open to any industrialist looking to expand”.

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Plant breeding is an investment in national economic development, not just a budget line
business

Plant breeding is an investment in national economic development, not just a budget line

My engagements continued this week at the Crop Development Centre (CDC) at the University of Saskatchewan, Canada, where I had the opportunity to reflect further on a conviction I have held for many years: plant breeding is not simply a budget expenditure, but a strategic investment in agricultural transformation, job creation and national economic development. The Saskatchewan Government and the National Research Council established the CDC in 1971 as a Centre of Excellence for crop breeding in Saskatoon, with a mandate to diversify Saskatchewan agriculture.

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Nana Ekuwa Amissah V installed as Anomabo Far Konkohemaa
business

Nana Ekuwa Amissah V installed as Anomabo Far Konkohemaa

Nana Ekuwa Amissah V has been installed as the new Far Konkohemaa (Queen of fishmongers) of Anomabo in the Mfantseman Municipality of the Central Region. As Konkohemaa, Nana Ekuwa Amissah V will be responsible for overseeing the welfare of women in the fishing community, championing their interests and ensuring that their concerns and needs are addressed.

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Manufacturers raise alarm over N1.35trn alternative power costs, 18,935 job losses
business

Manufacturers raise alarm over N1.35trn alternative power costs, 18,935 job losses

Urge FG to cut energy, financing costs lAcknowledge govt’s import-duty, value-added tax relief on 875 pharmaceutical raw materials By Victor Ahiuma-Young & Omotola Aremo LAGOS — Manufacturers under the aegis of Chemical and Non-Metallic Products Employers Federation, CANMPEF, said yesterday they were facing mounting pressure from soaring energy costs, expensive credit, weak consumer demand and job losses, despite improvements in the country’s key macro-economic indicators in 2025. President of CANMPEF and Vice President of the Dangote Group, Chief Devakumar Edwin, who raised the alarm at the…

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‘We shouldn’t stifle initiative with excessive taxation’ – Kufuor
business

‘We shouldn’t stifle initiative with excessive taxation’ – Kufuor

Former President John Agyekum Kufuor has urged Ghana’s leaders to avoid excessive taxation that stifles initiative and prevents entrepreneurs from creating wealth. Speaking on Joy News’ PM Express on Wednesday, he said the state should empower individuals to use their talents and resources to build businesses.

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Dr. Bawumia engages TUC leadership on youth employment, rising living costs and labour welfare
business

Dr. Bawumia engages TUC leadership on youth employment, rising living costs and labour welfare

Former Vice President and NPP presidential candidate, Dr. Mahamudu Bawumia, has taken his broad-based stakeholder engagement to Organised Labour, meeting with the leadership of the Trades Union Congress (TUC) at the Hall of Trade Unions in Accra Tuesday. The meeting, held as part of Dr. Bawumia’s ongoing national consultations, brought together top executives of the TUC, the umbrella body representing thousands of Ghanaian workers across both the public and private sectors.

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Investors turn on Google owner Alphabet after profit miss, ad slowdown and high spending
business

Investors turn on Google owner Alphabet after profit miss, ad slowdown and high spending

Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bn Shares in Google parent Alphabet fell more than 10% in after-hours trading Wednesday, erasing tens of billions of dollars in stock market value from the $4tn tech giant. The company had reported lower-than-expected profit and a slowdown in its advertising business while it maintained big spending on AI.

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