BUSINESSPOST
Local Equity Market Records 0.17% Meltdown on Profit-Taking
The Nigerian Exchange (NGX) Limited surrendered to the bears on Monday, leading to a 0.17 per cent meltdown at the close of transactions. The loss was triggered by profit-taking in the insurance and energy sectors as a result of the 0.03 per cent and 0.01 per cent declines they respectively recorded during the session. The 0.89 per cent… Read More
SUN
NGX: Investors Lose N93bn As Global Stock Sell-Offs Heighten Uncertainty In Capital Markets
The global financial market literally flew into the storm on Monday, necessitating major sell-offs and heightening uncertainty for investors on the Nigerian Exchange Limited (NGX). Japan’s Nikkei 225 was the worst hit as it suffered its worst day since 1987, dropping by 12.4 per cent amid fears of a potential recession in the U.S economy. The… Read More
VANGUARD
Naira Appreciates By 0.6% Against Dollar At Official Market
The naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N9.93. This represents a 0.61 per cent gain when compared to the previous… Read More
THISDAY
Electricity Grid Experiences Partial Disturbance As Supply Slumps
Nigeria experienced partial disturbance on the national electricity grid yesterday as generation fell to as low as 1.255.78mw at around 3pm, throwing parts of the country into darkness. The last time the country was plunged into darkness due to the grid failure was on July 6, 2024. However, the disturbance happened after supply peaked at… Read More
ECONOMY HEADLINES
PUNCH
Bank Recapitalisation Crucial For Economic Growth – SEC
The Director General of the Securities and Exchange Commission, Emomotimi Agama, has stated that the ongoing bank recapitalisation is an important step toward unlocking Nigeria’s potential to achieve a $1tn economy. He disclosed this at a recent forum in Abuja focused on the ongoing bank recapitalisation. Agama, in a statement made… Read More
Federal Government Asks Workers To Register For N40,000 Rice
The Federal Government has concluded plans to sell a 50kg bag of rice at N40,000 to public servants with a view to alleviating the food crisis in the nation and its effects on Nigerians. This was disclosed in a letter from the Federal Ministry of Special Duties and Inter-governmental Affairs, which was signed by the Director of Human Resources… Read More
NAIRAMETRICS
Student Loan: NELFUND Disburses N20,000 July Stipends To Over 20,000 Students
The Nigerian Education Loan Fund (NELFUND) has commenced the distribution of N20,000 monthly stipends to beneficiaries, with 20,371 students from six tertiary institutions successfully receiving their July payments. This announcement was made in a statement signed by Mr. Ibom Uche, Director of Finance and Accounts at NELFUND, and… Read More
POLITICAL HEADLINES
NAIRAMETRICS
Controversy As ALGON Denies Threatening State Finance Commissioners Over FAAC Allocations
The Aminu Maifata-led Incorporated Trustees of the Association of Local Governments of Nigeria (ALGON) has denied issuing a legal threat against the Forum of Commissioners for Finance of Nigeria over July allocations from the Federation Account (FAAC) to each of the 774 local government councils. In a letter dated August 5, addressed… Read More
SUN
…Sack PMS racketeering, subsidy probe panel
The House of Representatives has dissolved its joint committee saddled with the task of probing alleged Premium Motor Spirit (PMS) racketeering, and alleged secret payment of fuel subsidy, as well as importation of adulterated petroleum products into the country, among other issues in the oil and gas industry. The chairman, House… Read More
TECHNOLOGY HEADLINES
VANGUARD
NUPRC Seeks Collaboration To Drive Upstream Investment, Non-Destructive Divestment The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, said yesterday it was working to ensure collaboration with industry regulators and stakeholders to attract businesses in the sector, amid divestment. The commission also said it was implementing the Upstream Asset Divestment Framework to guide the seamlessly… Read More