
BUSINESSPOST
Stock Market Jumps 0.74% After Tinubu Swears In Ministers
The domestic stock market closed higher by 0.74 per cent after President Bola Tinubu swore in 46 ministers on Monday, giving investors the signal that his administration was ready to jumpstart the struggling economy. It was like the much-awaited positive trigger the Nigerian Exchange (NGX) Limited needed to begin another round of upward trajectory… Read More
SUN
E-Fraud: CBN Seeks Collaboration As Banks Lose N9.7bn In 7 Months
The rising incidence of electronic fraud in Nigeria is giving regulators, bank CEOs sleepless night and is expected to continue if unchecked as Nigeria Inter-Bank Settlement System (NIBSS) revealed that banks in the country have lost N9.7 billion to e-fraud in first seven months of 2023. The Managing Director, NIBSS, Premier Oiwoh, disclosed… Read More
Q1: Manufacturers Decry 24% Increase In Production, Distribution Costs
The Manufacturers Association of Nigeria (MAN) has lamented that production and distribution costs of its members escalated by 24 percent in the first quarter, much higher than the 19 percent raise recorded in the preceding quarter. The Association which made this known in its Manufacturers CEO Confidence Index (MCCI) for Q1… Read More
GUARDIAN
FIRS Decries Under-Declaration, Tax Evasion By Prominent Nigerians
The Federal Inland Revenue Service (FIRS) said high-net-worth Nigerians and businesses are under-declaring their assets, thus short-changing federal and state governments of their tax revenues. The Special Assistant, Media and Communication to the Executive Chairman, FIRS, Johannes Wojuola, disclosed this during a courtesy visit of the FIRS… Read More
ECONOMY HEADLINES
PUNCH
Federal Government May Raise $17bn From Oil Assets Sale – JP Morgan
The Federal Government is expected to make up to $17bn if it sells down its stake in most joint-ventures oil and assets, JP Morgan has stated. The United States bank’s projection came against the backdrop of the government’s plan to boost foreign exchange earnings and external reserves in order to ease forex pressure. The US bank stated… Read More
SUN
AATF, NABDA To Partner On National Food Security
The African Agricultural Technology Foundation (AATF) and Nigeria National Biotechnology Development Agency (NABDA) have concluded plans to partner on research and development activities capable of reducing post-harvest crop losses and enhancing nutrition security among Nigerians. Possible areas of collaboration identified by the… Read More
FX Volatility: Nigerians Demand Resuscitation Of Local Refineries
Stakeholders have called on the Federal Government to as a matter of urgency take steps to reactivate the country’s ailing refineries functional. With three refineries in Port Harcourt, Warri and Kaduna with a nameplate capacity of 445,000 barrels per day, Nigerians have been wondering why the government has continued to encourage massive… Read More
POLITICAL HEADLIINES
BLUEPRINT
National Assembly To Support Infrastructural Development Nationwide – Deputy Speaker
The Deputy Speaker of the House of Representatives, Benjamin Kalu, Monday, declared the readiness of the 10th National Assembly to support infrastructural development across the country. Kalu, who spoke in Abuja at the reception held in honour of the Minister of Works, Senator David Umahi in Abuja, also pledged the support of the Federal… Read More
VANGUARD
Niger: We’re More Likely To Use Force — ECOWAS
The Economic Community of West African States, ECOWAS, said yesterday it was more likely to use military force to restore constitutional order in Niger Republic, if the military junta, led by Gen. Abdourahamane Tchiani, was hellbent on his three-year transition plan before returning the country to civil rule. Fielding questions on Channels… Read More
TECHNOLOGY HEADLINES
PUNCH
Telcos’ Energy Costs Hit N38bn, May Review Tariffs
The price of calls, data, and other telecommunication services are under threat as the cost of powering communication networks may rise to N38bn in August following the increase of diesel to N950/litre. According to oil marketers recently, the cost of Automotive Gas Oil (diesel), will rise to between N900 and N950 because of the current foreign… Read More