BUSINESSPOST
Nigerian Exchange Down 0.71% as Selling Pressure Intensifies
Persistent profit-taking and cautious trading by investors further weakened the Nigerian Exchange (NGX) Limited on Friday by 0.71 per cent after a three-day break from the market. The stock exchange was closed for three days on Tuesday, Wednesday, and Thursday as a result of the public holidays declared by the federal government for Eid el-Fitr… Read More
VANGUARD
Diesel Gulps 80% Of Manufacturers’ Profits — MAN
Manufacturers have lamented the high cost of automotive gas oil (AGO), also known as diesel, which is used in generating power for their operations, noting that product gulps about 80 percent of their profits. Speaking on the plight of manufacturers against the backdrop of rising prices of their products, the Director General of MAN… Read More
Tariff Hike: TCN, Distribution Companies Bicker Over Failing 20-Hrs Supply
With Band A customers expressing anger over the failure of electricity Distribution Companies, DisCos, to meet the 20-hour minimum supply, some communities have approached their respective DisCos, requesting to be downgraded to Band B. The communities, Vanguard gathered, are insisting that since they were not… Read More
THISDAY
CRR: Ten Banks’ Restricted Deposit with CBN Hits N17.1tn
As the Central Bank of Nigeria (CBN) maintained Cash Reserve Ratio (CRR) at 32.5 per cent in 2023, Zenith Bank Plc and nine other banks’ restricted deposit increased to N17.1 trillion, representing a growth of 72.7 per cent from N9.91 trillion reported in 2022. The banks include: Access Holdings Plc, Guaranty Trust Holdings Company Plc (GTCO)… Read More
ECONOMY HEADLINES
SUN
Trade Facilitation: Customs Strengthens Partnership With Benin Republic
In an effort to strengthen the partnership between the Nigeria Customs Service (NCS) and its counterpart in the Republic of Benin, the Comptroller-General of Customs (CGC), Bashir Adeniyi, has embarked on a mission to meet with the Director-General of the Customs Administration of Benin Republic deliberate on trade facilitation. The primary… Read More
Our Manufacturing, Business Sectors Will Become Comatose –NUEE Warns Over Tariff’s Hike
The National Union of Electricity Employees (NUEE) at the weekend raised the alarm that the recent hike in the electricity tariff will lead to more closure of businesses and manufacturing sectors in the country. Calling for withdrawal in a letter to the Minister of Power, Adebayo Adelabu, NUEE warned that the hike in the electricity tariff is… Read More
PUNCH
NNPCL, NIPCO Partnership Will Expand CNG Network – NIPCO MD
NIPCO Gas Limited has partnered with the Nigeria National Petroleum Company Limited to expand the AutoCNG infrastructure nationwide by providing an alternative fuel option for motorists. The Managing Director, NIPCO Gas, Nagendra Verma, announced this on Sunday while giving an update on the company’s efforts in growing use of gas… Read More
POLITICAL HEADLINES
SUN
PDP Chair: Wike Camp Pushes For Damagum Against Suswam, Agbo
There is heightened tension in the Peoples Democratic Party (PDP) ahead of the party’s National Executive Committee (NEC) meeting slated for Thursday. The NEC is the second highest organ of the opposition party, after the National Convention. The NEC meeting, which is the first in the last 19 months, is expected to take far-reaching… Read More
TRIBUNE
Betta Edu: Our Investigation Not About Any Individual — EFCC
The Economic and Financial Crimes Commission (EFCC) has clarified that, despite media insinuations, commentaries, and trending public opinions, the investigations into alleged corruption are not targeting any individual but rather constitute a holistic probe of the Humanitarian Ministry spanning past administrations. In a statement on… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Nigeria Ranks 5th In Global Cybercrime Index Nigeria has been ranked 5th in a global report on sources of cybercrime activities, coming behind Russia, which ranked number one, and Ukraine, China, and the United States, which occupied the second, third, and fourth positions respectively. The report, which was described as the first-ever World Cybercrime Index, was produced by… Read More