BUSINESSPOST
NGX All-Share Index Drops to 95,779.79 Points After 1.36% Loss
The Nigerian Exchange (NGX) Limited recorded a significant loss, 1.36 per cent, on Monday as investors trimmed their exposure to local equities. The industrial goods index witnessed a decline of 4.96 per cent at the close of transactions, with the insurance space losing 0.71 per cent, and the consumer goods counter falling by 0.67 per cent. However, the… Read More
VANGUARD
Banks Grow Demand By 23.6% To N32.9trn In H1’24
Deposit Money Bank grew their Demand Deposits (current accounts) by 23.6 percent to N32.988 trillion in the first half of the year H1’24 from N26.688 trillion at the end of 2023. Financial Vanguard’s analysis from the latest Money and Credit report of the Central Bank of Nigeria, CBN showed that the total demand deposits in the first quarter of… Read More
SUN
CBN Unveils New Exchange Rates For Pound, Euro As Naira Settles At N1,579.22/$1
The Central Bank of Nigeria (CBN) has announced revised foreign exchange rates, reflecting recent shifts in the value of the naira against major global currencies. According to updated data on the CBN’s website on Monday, the naira witnessed a slight decline in value against the pound sterling, settling at N2,035/£1, a marginal drop of… Read More
THISDAY
NNPC Announces N3.3tn Net Profit In 2023 Audited Financial Statement
Nigerian National Petroleum Company Limited (NNPCL) yesterday released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year, which ended in December 2023. NNPCL said this amount represented an increase of over N700 billion or 28 per cent compared to the 2022 profit of… Read More
ECONOMY HEADLINES
THISDAY
Electricity Supply: Federal Government Pays N205bn From N1.3tn Owed Power Generation Companies
The federal government yesterday said it had offset N205 billion from the N1.3 trillion debt owed Generation Companies (Gencos) to raise the level of liquidity in the power sector. The government also stated that the noticeable improvement in electricity supply in parts of the country was not an accident, but due to recent efforts of the Bola Tinubu… Read More
THENATION
Federal Government Begins Disbursement Of N200b To 75 Big Firms, MSME`s
A massive boost to reflate the economy is underway, Minister of Industry, Trade and Investment, Doris Uzoka-Anite said yesterday. Seventy-five major companies will get N1 billion single-digit loan disbursement next month, while another N125 billion will be given out as loans to Micro, Small and Medium Enterprises (MSMEs), she… Read More
VANGUARD
NNPC Gets Tinubu’s Approval To Use Federal Government’s Dividend To Fund Petrol Subsidy
President Bola Tinubu has approved Nigerian National Petroleum Company (NNPC) Ltd. request to use its 2023 final dividend to fund petrol subsidy. Checks by Vanguard, yesterday, also indicated the President has also granted an approval for the suspension of the payment of 2024 interim dividends as part of measures targeted at… Read More
POLITICAL HEADLINES
SUN
Local Government Autonomy: Anxiety As Governors Make Fresh Plots To Control Council Chairmen
It is not yet uhuru for Nigeria’s 774 local government areas. Though State governors hailed the Supreme Court’s July 11 historic ruling that freed the LGAs from the financial control of state governors by conferring financial autonomy on them, which means direct federal allocation to them, Daily Sun has learnt that the state Chief Executives… Read More
VANGUARD
Representatives Minority Caucus Raise Alarm On Insecurity, Kidnapping On Highways
The minority caucus in the House of Representatives has expressed grave concern over the escalating insecurity in Nigeria, citing a series of recent kidnappings and killings that have left citizens living in fear. In a statement issued on Monday, Kingsley Chinda, leader of the caucus, condemned the “frequent” abductions of travelers on highways… Read More
TECHNOLOGY HEADLINES
THENATION
Zone, NIBSS, Partner To Revolutionise PTSA Functions Using Blockchain Technology
One of Nigeria’s growing payment infrastructure providers, Zone Payment Network Limited (formerly known as Appzone) has partnered with Nigeria Inter-Bank Settlement System (NIBSS) Plc, the National Central Switch to revolutionise Nigeria’s first Payment Terminal Service Aggregator (PTSA). This collaboration aims to enhance… Read More