19 Aug

Daily Watch – New team takes over at AMCON, SMEs surge

  • President Buhari has approved the dissolution of the executive management team of the Asset Management Corporation of Nigeria (AMCON). The President also approved the appointment of Ahmed Lawan Kuru as Managing Director of the Corporation. Kuru takes over from Mustafa Chike-Obi who was appointed by the Goodluck Jonathan administration. Kuru was the Group Managing Director of Enterprise Bank Limited.
  • The number of Small and medium enterprises operating in Nigeria has surged by 114 percent, from 17.3 million in 2010 to 37.1 million in 2013, according to Bature Masari, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Employment by MSMEs also grew by 84 percent during the period, from 32.4 million to 59.7 million, while MSMEs contribution to the GDP rose from 46 per cent to 48 percent in 2013.
  • The Murtala Muhammed Airport Command of the Nigeria Customs Service says it raked in N22.5 billion from January to July this year. N5.2 billion was raked in in July alone, the highest ever generated by a comptroller in that command. According to the command’s comptroller, Folorunso Adegoke, the surge in duties received occurred after terminal operators were warned that they would be held liable for missed duty payment by users.