NIM And SMEDAN Partner To Boost MSMEs Operations, Human Capital Development—-The Nigerian Institute of Management (Chartered) (NIM) is set to deepen partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The NIM President, Dr Christiana Atako, disclosed the institute’s position during a hybrid meeting on Wednesday at the SMEDAN headquarters.
Atako said that the partnership would enhance human capital development and engender Micro, Small and Medium Enterprises (MSMEs) longevity in the country.
She said that the meeting was to work out modalities to continue with a training the institute initiated with the agency in 2023.
She urged the agency to continue to discharge its duty as the voice of MSMEs and the intermediary between MSMEs and the Federal Government.
She urged that both organisations should hold a stakeholders’ summit on Management Imperatives for Sustainability of Small and Medium Enterprises (SMEs).
According to her, the summit is to address lack of longevity of SMEs which, most times, fail after five years due to poor management.
“As a chief executive that values the importance of capacity building and professional management training, I am convinced that you will keep faith with the spirit and letters of the training arrangement though it did not start under your leadership,” she said.
The Director-General of SMEDAN, Dr Charles Obi, said that training of the agency’s staff by NIM, in 2023, impacted their productivity.
Obi, represented by a director in the agency, Mr Daberuje Lawani, said that the agency would continue to discharge its duties effectively.
Bitcoin (BTC-USD) surged above $100,000 on Thursday for the first time since February.
The world’s largest cryptocurrency rose alongside the overall market after President Trump unveiled a trade deal with the UK, signaling a deescalation of tariffs.
Coinbase’s (COIN) announcement earlier in the day about the crypto exchange’s deal to acquire options platform Deribit for $2.9 billion also helped boost sentiment in the sector.
Bitcoin rose as much as 4% to trade north of $100,900 near 11:30 a.m. ET on Thursday as Trump spoke in the Oval Office about the UK agreement and indicated other countries also want to strike trade deals with the US.
Bitcoin fell as low as $75,000 in the days following Trump’s “reciprocal” tariff announcement on April 2, otherwise known as “Liberation Day.”
Bitcoin sentiment has grown increasingly bullish during the stock market’s recovery. Signs that companies are taking a cue from firms like Strategy (MSTR) and adding crypto to their balance sheets have also bolstered sentiment toward the sector.
In a note earlier this week, Bernstein analyst Gautam Chhugani said approximately 80 companies have “adopted the ‘Bitcoin Standard,’ adding Bitcoin treasury exposure to their balance sheets, owning ~3.4% of the total BTC supply.”
“The implications for Bitcoin — more resilient corporate/institutional capital supporting through the cycle downturns and accelerated supply squeeze as public corporates continue buying Bitcoin,” Chhugani added.
Year to date, bitcoin is up more than 8%.
Coinbase Global (COIN) has reached an agreement to acquire crypto options platform Deribit for $2.9 billion, one of the most significant deals ever for the cryptocurrency industry.
The deal marks another milestone for Coinbase, the largest cryptocurrency exchange in the US, after missing out for years on the wider transaction volumes and margins that other exchanges captured from derivatives trading.
Coinbase’s stock rose over 4% on the announcement. The Wall Street Journal first reported the deal.
“This isn’t just more products — it’s deeper liquidity, tighter spreads, and better tools for institutional and retail traders alike,” Greg Tusar, Coinbase’s head of institutional product, said in an emailed statement.
Deribit “isn’t just another addition,” he added in a blog post.
The acquisition follows Coinbase’s purchase of asset manager One River Digital in 2023, derivatives exchange FairX in 2022, crypto brokerage platform Tagomi in 2020, and custody business Xapo in 2019.
Coinbase is paying for Deribit with a mix of its own common stock and $700 million in cash.
The deal is the latest example of how the crypto industry has emerged as one of the few bright spots for merger and acquisition activity this year, even as other industries hold back amid the economic uncertainties triggered by President Trump’s trade wars and tariffs.
The biggest driver of that crypto optimism is Trump’s continued embrace of digital assets. He is pushing for more favorable regulation of the industry, and Coinbase is expected to be one of the biggest beneficiaries.
Some other big crypto deals so far this year include Coinbase’s US rival Kraken announcing an agreement to purchase crypto futures trading platform Ninja Trader for $1.5 billion in March and Ripple Labs agreeing last month to buy crypto broker and financing firm Hidden Road for $1.25 billion.
Coinbase reports first quarter earnings Thursday afternoon. Its profits are expected to decline, while net revenue is expected to jump compared to a year ago. It recognized a $737 accounting gain on its crypto asset holdings in the first three months of last year.
TCN reports that Bank customers in Nigeria will begin paying N6 for each SMS transaction alert starting Thursday, May 1, 2025, following an upward adjustment in telecommunications service rates recently approved by the federal government.
The new fee represents a 50 percent increase from the previous N4 charge per message and has been communicated by several commercial banks to their customers ahead of the implementation.
Guaranty Trust Bank Limited was among those that issued notices. In an email to customers titled “Increase in SMS Transaction Alert Fee,” the bank explained that the revision was necessitated by higher charges from telecommunications providers. “Dear Valued Customer, Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” the notice read.
The bank emphasized the importance of SMS alerts, stating they are essential tools for customers to monitor and maintain control over their account activities. It also noted that SMS alerts sent to international phone numbers would incur additional charges.
The increase in telecom rates and corresponding adjustment in SMS alert fees come amid broader concerns over rising costs of living and digital access in the country.
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