BUSINESSPOST
NGX Index Gains 0.07% To Again Cross 96,000 Points
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited appreciated by 0.07 per cent or 63.83 points on Monday to cross the 96,000 points threshold again. Exactly a week ago, the NGX index fell below this psychological market when it shed 1.36 per cent to settle at 95,832.29 points from the preceding session’s 97,100.31 points. Yesterday… Read More
BUSINESSDAY
Stock Deals Jump 44% On Banks’ Recapitalisation
Ongoing banks’ recapitalisation exercise pushed up deals in Nigeria’s equities market by 44 percent in the first seven months of 2024, BusinessDay findings have shown. The Nigerian Exchange Limited (NGX)’s stock transaction figures showed that deals from January to July 2024 were N941.62 billion higher than those seen in the same period of… Read More
SUN
AMCON Intensifies Asset Recovery Efforts, Enlists International Asset Tracers
In to recover outstanding debts of nearly N5trillion, the Asset Management Corporation of Nigeria (AMCON) has announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under Special Purpose Vehicles (SPVs). This decision was revealed by… Read More
Banks To Earn 25.75% On CBN Deposits, SLF Rate Now 31.75%
The Central Bank of Nigeria (CBN) on Monday, made significant adjustments to its monetary policy to manage liquidity and address inflationary pressures. Following the 296th Monetary Policy Committee (MPC) meeting, the CBN increased the rates for the Standing Deposit Facility (SDF) to 25.75% and the Standing Lending Facility (SLF) to… Read More
ECONOMY HEADLINES
THISDAY
GDP Grows By 3.19% In Q2
President Bola Tinubu yesterday, welcomed the latest report by the National Bureau of Statistics (NBS) on the state of the economy, as the country’s Gross National Product (GDP) posted another growth. Tinubu was quoted to have made the remarks in a statement by his Special Adviser to the President on Information and Strategy, Bayo… Read More
NAIRAMETRICS
Federal Government Selects 23 Managers For $10 Billion Nigeria Global Investment Fund
The Federal Government of Nigeria has selected 23 fund managers to oversee the $10 billion Nigeria Global Investment Fund (NGIF). According to a presentation document seen by Nairametrics, this ambitious fund aims to attract both international and local capital into critical sectors of the Nigerian economy, including agriculture, manufacturing… Read More
THENATION
Edun Restates Federal Government’s Commitment To Boosting Local Economy, Agricultural Sector
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday reaffirmed the Federal Government’s commitment to local economic development and agricultural resilience. The minister spoke during his visit to Kebbi State on the efforts by the Bola Tinubu administration to reinforce economic partnerships and tackle… Read More
POLITICAL HEADLINES
SUN
Tinubu Appoints Mohammed, DG NIA, Ajaiyi Director General DSS
President Bola Tinubu has appointed new Directors-General for the National Intelligence Agency (NIA) and the Department of State Services (DSS) following the resignation of their predecessors. According to a statement by Special Adviser on Media and Publicity, Ajuri Ngelale, the NIA will be led by Mohammed Mohamed, who has had an… Read More
THENATION
Kila Heads The Patriots’ Constitution Committee
The Patriots, a group of eminent Nigerians led by the former Commonwealth Secretary-General, Chief Emeka Anyaoku, yesterday inaugurated a 17-member Advocacy Committee for the actualisation of a new constitution. The committee, which is tasked with engaging key stakeholders and the general public across the country, will be chaired by… Read More
TECHNOLOGY HEADLINES
VANGUARD
ICT’s Contribution To Nigeria’s Real GDP Hits 19.78% In Q2 2024 — NBS
The Information and Communications Technology, ICT, sector added 19.78 per cent growth to Nigeria’s real Gross Domestic Product, GDP in Q2 2024, according to the National Bureau of Statistics, NBS. This shows a marginal increase in contribution, compared to the 19.54 per cent recorded in the same period last year. On quarter-on-quarter… Read More