Daily Business Headlines – DECEMBER 29, 2023

NAIRAMETRICS

NGX Hits New All-Time High As MTN, Dangote Cement Lead Market Gains

After posting losses yesterday, the NGX posted gains today, as the All-Share Index appreciated by 0.99% to close at 74,502.58 points, marking a new all-time high. Equities gained N402 billion as the market capitalization closed at N40.769 trillion, an appreciation from yesterday’s N40.367 trillion. Bluechip stocks, MTN Nigeria and Dangote… Read More

SUN

House Of Representatives Move To Criminalise Non-Payment Of Salaries

The House of Representatives is proposing a Bill to criminalise delay and non-payment of salaries of employees by individuals and corporate bodies in the country. The Bill, entitled: Employees Remuneration Protection Bill, 2023, is sponsored by a member representing Agege federal constituency of Lagos State, Wale Hammed. The Bill, which… Read More

Total Transaction Volume On eNaira Reached N10bn In August –CBN

The Central Bank of Nigeria (CBN) has reported that total transaction volume of its digital currency, eNaira, for August 2023, reached N9.78 billion. According to the apex bank’s monthly economic report for August 2023, this represents a 284.6 per cent increase. Although the increase in eNaira for the month was substantial, when … Read More

BUSINESSDAY

CAC Extends Deadline For Firms’ Annual Return Submission To April

The Corporate Affairs Commission (CAC) has granted an extension for companies to submit their annual returns, allowing for a revised timeline from January 1, 2024 to April 1, 2024. This was revealed in a statement on Thursday. “All entities registered under the Companies and Allied Matters Act (Companies, Limited Liability Partnerships, Limited… Read More

ECONOMY HEADLINES

PUNCH

Federal Government Can Generate N10tn From Non-Oil Assets –Tax Panel Chair

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that Nigeria can easily earn N10tn annually through efficient management of its non-oil assets. Oyedele stated this recently in Lagos at a stakeholders’ forum organised by the Harvard Business School Association of Nigeria… Read More

VANGUARD

Dangote Refinery Gets 3rd Crude Supply Of 1m Barrel

THE $19 billion Dangote Refinery, yesterday, took delivery of one million barrels of crude oil, thus increasing total deliveries to about three million barrels while boosting hopes of ending importation of petroleum products and associated foreign exchange burden on the currently being discharged into the company’s facility, came from Shell International… Read More

SUN

Nigeria Slips As Mozambique Accounts For 49% Of Remittance Flows To Africa In 2023

Nigeria’s position as a net importer  of remittance flows to Sub-Saharan Africa weakened further in 2023 as the World Bank on Thursday, revealed that Mozambique outperformed Africa’s largest ecionomy by 49.5 per cent in respect to inflows to the region in the outgoing year. This was even as the bank in its latest Migration and Development Brief… Read More

POLITICAL HEADLIINES

PUNCH

Plateau Massacre: Invaders Write Community, Threaten Fresh Attacks, UN Demands Probe

Invaders have threatened fresh attacks on a community in Plateau State on Friday (today), barely four days after they killed 195 persons in 17 communities across the state. The Deputy National Publicity Secretary of the Middle Belt Forum, Stanley Kavwam, in an interview with Arise Television on Thursday,  said the terrorists had sent… Read More

SUN

Aiyedatiwa Pays Condolence Visit To Akeredolu’s Ibadan Home

Governor of Ondo State, Lucky Aiyedatiwa, has said the name of the late Arakunrin Oluwarotimi Odunayo Akeredolu would never be forgotten because his legacies and impacts could be seen and felt across the state and the country. Governor Aiyedatiwa stated this when he led members of the State Executive Council on a condolence visit to… Read More

TECHNOLOGY HEADLINE

PUNCH

Allocation To ICT Ministry Falls To N28.54bn

The budget allocation to the Ministry of Communications, Innovation and Digital Economy fell for the second year in a row, despite its significant contributions to the country’s Gross Domestic Product. According to the budget submitted by President Bola Tinubu, the communications ministry is expected to spend N28.54bn in 2024, a 39.31 per… Read More