SUN
Equities Market Slips Further, Investors Lose N1.06trn
The Nigerian Exchange Limited, on Wednesday, slipped further as the market All-Share Index (ASI) dipped by 1.9 per cent resulting in investors losing N1.06 trillion at the end of the day’s trade owing to sell-offs in Zenithbank, UBA, ACCESSCORP, OANDO, UCAP and 52 other stocks. The market’s bearish performance continues as investors enter… Read More
Kidnapping, Bad Roads Crippling Our Business, Oil Transporters Lament
Members of the Nigerian Association of Road Transport Owners, (NARTO) rose from their 2024 Annual General Meeting (AGM) with a save our soul message to the federal government to urgently address the menace of kidnapping, carjacking and other assault on them, saying the horror was killing their businesses. They also listed bad… Read More
PUNCH
Port Harcourt Refinery Test-Run Ongoing, Marketers Project Fuel Price Hike
The Federal Government, on Wednesday, said the Port Harcourt Refining Company was still being test-run, adding that refined petroleum products from the plant would hit the market soon. It disclosed this at a briefing in Abuja, as oil marketers expressed worry that the recent crash of the naira against the United States dollar might lead to a hike in the… Read More
CBN Orders Banks To Sell Excess Dollars In 24 Hours
Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024. The CBN, which made the disclosure in a new circular released on Wednesday, also warned lenders against hoarding excess foreign currencies for profit.… Read More
ECONOMY HEADLINES
SUN
Senate Summons Cardoso Over Crumbling Economy, Widening Poverty
The Senate committee on Banking, Insurance and other Financial Institutions has summoned the Governor, Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, to appear before its next Tuesday on the poor state of economy and free fall of naira. The Committee met on Wednesday when naira plummeted to an all-time low of N1,520 to… Read More
PUNCH
Tinubu Orders AGF, Lokpobiri To End $1.3bn Oil Block Dispute
President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi (SAN), Minister of State for Petroleum Resources, Heineken Lokpobiri, and other agencies of government to clear all court cases around the $1.3bn deepwater OPL 245 oil block located in southern Niger Delta. Other agencies that also received the order… Read More
High Inflation Creating Hardships In Nigeria, Says IMF
High inflation is creating hardships in Nigeria, the International Monetary Fund has disclosed. The Division Chief, Research Department, Daniel Leigh, revealed this at the fund’s press briefing for its January 2024 World Economic Outlook Update. Leigh noted that current reforms in the country have led to currency depreciation. He stated the… Read More
POLITICAL HEADLIINES
VANGUARD
Tinubu Rejects Labelling Of Nigerians As Corrupt
President Bola Tinubu has taken a firm stand against the unjust stereotyping Nigerians as inherently corrupt. He expressed the view at a forum, with the theme,” Public Engagement on Youth, Religion, and the Fight Against Corruption,” organized by the Economic and Financial Crimes Commission, EFCC, in Abuja. The event also marked the… Read More
SUN
House of Representatives Set Dec 2025 Deadline For Completion Of Constitution Review
House of Representatives has set December 2025 as deadline for the completion of the alteration of the 1999 Constitution (as amended). The deputy speaker, Benjamin Kalu, who stated this, yesterday, at the inaugural meeting of the House Special Committee on Constitution Review, said this is to ensure that the exercise does conflict with… Read More
TECHNOLOGY HEADLINE
GUARDIAN
Broadband Penetration Drops To 40.85 Per Cent
Based on the updated telecoms indicator by the Nigerian Communications Commission (NCC), telephone density (teledensity) in Nigeria has dropped from 115.63 per cent to 102.3 per cent. NCC explained that the adjustment became necessary to reflect the latest population growth figures and align with international best practices… Read More