NAIRAMETRICS

GTB, UBA Lead Stock Market Rebound As Investors Reassess MPR Outcomes

The NGX market capitalization witnessed a notable surge, as the value of listed equities soared by N390 billion, reaching N54.71 trillion by the close of the session. This follows a loss of N700 billion reported in the previous day’s trading as investors reacted to the outcome of the MPC. The gains posted today suggest investors may be… Read More

SUN

Federal Government Offsets $120m Debt Owed Gas Firms

The Federal Government said it has paid over $120 million to offset part of the debts owed to the gas companies (GasCos) for electricity generation. The government said the measure was to address the indebtedness of the country’s power sector to electricity-generating companies (GenCos) and the gas companies (GasCos). The Director of… Read More

PUNCH

NDIC Refunds Depositors Of 179 Liquidated Banks

The Nigeria Insurance Corporation has said that it has reimbursed depositors of 179 rested microfinance and four mortgage banks across the country. The Managing Director of the NDIC, Dr Bello Hassan, stated this at the NDIC Special Day during the ongoing 45th Kaduna International Trade Fair on Thursday. Hassan, who was represented by the… Read More

House Of Representatives To Probe CBN, DisCos Over Mass Metering Funds

The House of Representatives on Thursday resolved to investigate the funds disbursed to licensed electricity Distribution Companies for metering by the Central Bank of Nigeria as loans under the National Mass Metering Programme. This resolution to investigate the disbursement of the funds followed the adoption of a motion moved by… Read More

ECONOMY HEADLINES

VANGUARD

Tinubu Committed To Improving Gas Sector Investments — Presidency

Special Adviser to the President on Energy, Mrs. Olu Verheijen, has said that the Bola Tinubu administration will continue to explore ways to improve the country’s business climate, to attract more investments into the gas and energy sector. Verheijen spoke in Abuja at the Day 2 Plenary session of the on-going Nigeria International… Read More

PUNCH

Focus On Factors Driving Inflation, LCCI Tells CBN

The Lagos Chamber of Commerce and Industry has advised the Central Bank of Nigeria to focus on the primary factors causing high inflation in its monetary policy decisions. In a statement signed by its Director-General, the LCCI said the decision by the apex bank to raise the benchmark lending rate by 400 basis points to 22.75 per cent is an… Read More

FX Debt: CBN Owing Only Five Banks, Says Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that foreign exchange backlogs have been cleared in all the banks except for five of them. Cardoso said this on Thursday during an investor call facilitated by the Nigerian Exchange Group, during which he said that the remainder of the banks’ FX backlogs would be cleared… Read More

POLITICAL HEADLIINES

THISDAY

Tinubu: Labour’s Four Strikes In Nine Months Of My Government Unacceptable

President Bola Tinubu, yesterday, took a swipe at organised labour for the series of strike actions they had embarked upon since he assumed office on May 29, 2023, saying such development is unacceptable to his administration. Tinubu, who spoke at the inauguration of the Lagos Red Line Rail Project in Ikeja, further flayed what he described as… Read More

VANGUARD

Nigeria’s Economy On Track — American City Mayor

The Mayor of the City of Blanco, Texas, USA, Mike Arnold, has said that the Nigerian economy is well on track. Arnold, who is also the founder of Africa Arise USA, Arise Academy IDP Camp Schools, and the #IDPjustice campaign,  in an article made available to Vanguard, said “I have been to Nigeria many times, the nation is going places… Read More

TECHNOLOGY HEADLINE

NAIRAMETRICS

3MTT: FG Plans Unemployment Benefits For Fellows As Phase Two Kicks Off

The Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, has said that the government is working on the possibility of providing unemployment benefits for Nigerians participating in its ongoing 3 Million Technical Training (3MTT) program. Tijani disclosed this on Thursday as he announced the selection of 270,000 fellows… Read More