PUNCH
Equity Market Loses N2tn Over Higher Bond Yields
The negative trading pattern on the Nigerian exchange persisted into another week as investors lost N1.99tn. The All-Share Index and market capitalisation shed 3.44 per cent week-on-week to 102,088.30 points and N55.86tn, respectively, on the back of weak sentiment, which was spurred by higher yields outlook in the fixed-income… Read More
BDC Operators Plan Mergers, Fault Mandatory Deposit
The President of the Association of Bureau De Change of Nigeria, Aminu Gwadebe, has said that members of the association would consider mergers if the proposed guidelines for their operations go into effect. The Central Bank of Nigeria, in a draft paper titled ‘Revised Regulatory And Supervisory Guidelines For Bureau De Change Operations In… Read More
SUN
CBN Must Peg Customs Duty Exchange Rate At N1000/$ To Ease Current Hardships – CPPE
The Centre for the Promotion of Private Enterprise [CPPE] has called on the the Central Bank of Nigeria (CBN) to peg Customs duty rate at N1000/$ to ease the current hardships in the country. Chief Executive Officer of Centre for the Promotion of Private Enterprise (CPPE) Dr Muda Yusuf made the call in a document made available to Daily Sun on… Read More
N18trn Pension Assets Safe, Well Invested – PenCom
To allay the fears of some persons over the way about of pension funds, the National Pension Commission (PenCom) has affirmed that the N18trn pension assets are safe, carefully invested, and growing in leaps and bounds. The Director-General of PenCom, Aisha Dahir-Umar made this affirmation while addressing the 2024 Congress… Read More
ECONOMY HEADLINES
PUNCH
Governors, Elumelu, Dangote Make Tinubu’s Economic Advisory Panel
President Bola Tinubu has created an economic advisory committee comprising the federal government, sub-nationals and the private sector. This resulted from talks between the President and key stakeholders at the State House, Abuja, on Sunday evening. The development came as the falling naira exchange rate, rising inflation and other… Read More
UK Goods Exports To Nigeria Dip By £357m – Report
The value of the United Kingdom’s goods exports to Nigeria has decreased by 21.2 per cent or £357m at the end of the third quarter of 2023, according to the latest UK’s Department for Business and Trade factsheets on Nigeria obtained by The PUNCH. The report stated that total trade in goods and services (exports plus imports) between the UK and… Read More
BUSINESSDAY
CBN Mops Up N1.51trn In Four Months To Stabilise Economy
The Central Bank of Nigeria has issued a total of N1.5 trillion in Open Market Operation (OMO) bills since Olayemi Cardoso took the helm as governor in a bid to stem inflation and prop up the naira, whose steep decline has unsettled the economy, a BusinessDay analysis shows. The bids were mostly in long-tenured bills of 180 to 365 days maturity… Read More
POLITICAL HEADLIINES
SUN
SERAP Sues 36 Governors, Wike Over Failure To Account For Missing N40tn Local Government Allocations
Socio-Economic Rights and Accountability Project (SERAP) has filed a suit against the 36 state governors and the Minister of the Federal Capital Territory (FCT), Abuja, Mr Nyesom Wike for their failure to account for the alleged missing N40 trillion federal allocations meant for local governments in the states and the FCT. The suit followed the … Read More
PUNCH
NLC Protest: Presidency, Police Issue Fresh Warnings As 65 Groups Pull Out
The Presidency again on Sunday warned the Nigeria Labour Congress not to embark on its two-day nationwide protest against the rising cost of living in the country. Also, the police warned against disruption of commercial activities during the protest. The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, and the police… Read More
TECHNOLOGY HEADLINE
NAIRAMETRICS
Nigeria’s 5G Subscriptions Reached 2.3 Million In December 2023 – NCC
Data released by the Nigerian Communications Commission (NCC) has revealed that 5G subscriptions in the country increased to 2.3 million in December 2023. This, however, represents 1.04% of the country’s total active subscriptions for telephone services, which stood at 124.7 million at the end of the year. Three mobile network operators… Read More