BUSINESSPOST
Stock Market Drops 0.10% as Oando Leads Losers’ Chart
The loss recorded by Oando and 30 other stocks sank the Nigerian Exchange (NGX) Limited deeper by 0.10 per cent on Thursday amid news that inflation cooled for the first time in several months to 33.40 per cent in July. The National Bureau of Statistics (NBS) yesterday released the inflation numbers, which showed a contraction in the average… Read More
NAIRAMETRICS
Consumer Goods Companies Report Reduced Margins In The First Half Of 2024, Blame Higher Production
Consumer goods companies listed on the Nigerian Stock Exchange (NGX) reported a significant uptick in their cost of production in the first half of the year. A review of the financial statements of eight of the major consumer goods companies listed on the NGX reveals that on average the cost of production rose by 67% in the first half of… Read More
SUN
N215bn Unclaimed Dividends: SEC To Launch Special Unit, Mobile App
The Securities and Exchange Commission (SEC) has said that it is setting up a special unit and developing a mobile application to address the pressing issue of unclaimed dividends in Nigeria’s capital market, which stood at a N215 billion as of March 2024. The Director General of the SEC, Emomotimi Agama revealed this during the post-Capital… Read More
THISDAY
CBN Governor: Nigerian Banks Reaping Fruits of IFRS Adoption
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday said the Nigerian banking and financial system are currently reaping the fruits of the adoption of the International Financial Reporting Standards (IFRS). He said this was evidenced by the growth sizes and scope of the operation of banks, locally and globally adding… Read More
ECONOMY HEADLINES
THISDAY
To Curb Food Inflation, Federal Government Unveils New Regulations on Customs Excise Variation Order
Following the approval of a 100 per cent Duty Free Rate and Value Added Tax VAT) exemption on select basic food items, the federal government has unveiled guidelines on the policy’s implementation, to tame the rising cost of food and stimulate domestic agricultural growth. The guides came as Consumer Price Index (CPI), which measures… Read More
VANGUARD
Mixed Reactions As Federal Government Plans To Boost External Reserves With $500m FGN Bond
The Federal Government has concluded arrangement to float the first ever Domestic FGN $500 million Bond in the country to help boost external reserves and provide the infrastructure needed to enhance and stabilise the economy. This is coming as mixed reactions by experts and analysts trailed the floatation of the Bond. The… Read More
THENATION
774 Councils Got N1.41tr From Federation Account In Six Months
Local Government Councils got N1.699 trillion form the federation account in the first half of this year. Monthly releases by the Nigeria Bureau of Statistics examined by The Nation showed that the amounts distributed by Federation Account Allocation Committee (FAAC) to the 774 council varies. The releases also indicated a huge rise in the… Read More
POLITICAL HEADLINES
SUN
Between New Constitution And Good Governance
The Patriots, an eminent group of Nigerian elder statesmen led by former Secretary General of the Commonwealth, Chief Emeka Anyaoku, stirred the hornet’s nest last week when it demanded that President Bola Tinubu should take measures to give the country a new constitution. Rising from a meeting with the President in Abuja, the group… Read More
TRIBUNE
Representatives Member, Dabo, Hails Tinubu Over Local Government Autonomy
President Bola Tinubu has been applauded for his visionary leadership in ensuring that Local Governments received their funds directly from the federation account which will make people at the grassroots feel the impact of democracy. The commendation was made by the Member of the House of Representatives representing Toro Federal… Read More
TECHNOLOGY HEADLINES
BUSINESSDAY
Top 10 Malware Targeting Nigerians In 2024
There has been a sharp rise in cyber-attacks in Nigeria, as the country ranked 19th on the global rankings for attacks in July. According to Check Point’s latest ‘Global Threat Index’ for July 2024, the country had a normalised risk index of 76.2. The cybersecurity provider stated that July recorded a concerning rise in cyber threats on the continent, with… Read More