DAILY BUSINESS HEADLINES
LEADERSHIP
Equities Rebounds By N192bn On Renewed Bullish Activity
The Nigerian equities yesterday reversed previous day’s loss, as buying interest in Airtel Africa Plc and 20 others triggered a N192 billion gain in the market capitalisation. Consequently, the All Share Index (ASI) rose by 352.49 absolute points, representing a gain of 0.67 per cent to close at 52,701.31 points. Accordingly, investors gained… Read More
BUSINESS DAY
Banks, Fintechs Tap Cashless Policy For Growth
Banks and financial technology (fintech) firms with strong e-payment services are leveraging the renewed push by the Central Bank of Nigeria (CBN) for a cashless economy to achieve further growth. The CBN introduced stringent measures for withdrawal of large sums of physical cash in banks to ensure its cashless policy objectives are achieved… Read More
GUARDIAN
Excise Duty Hike Will Make Businesses More Vulnerable
For a private sector already overwhelmed by multiple taxes, the Centre for the Promotion of Private Enterprise (CPPE) has said that the imposition of excise duty on all services will make the business community vulnerable. Director of CPPE, Muda Yusuf, in a statement, titled, “Tweaking the 2023 Finance Bill and Options for Unlocking revenues… Read More
SUN
Dirty, Old Naira Notes Flood ATMs 2 Weeks To Deadline
Despite orders from the Central Bank of Nigeria (CBN) for commercial banks to load their Automated Teller Machines (ATMs) with new naira notes, dirty, old and mouldy currency notes keep coming out of the machines. The development according some depositors has become frustrating as they allege that old notes hitherto returned to the banks… Read More
ECONOMY HEADLINES
NEW TELEGRAPH
2023 Budget: Analysts Doubt Federal Government’s Ability To Meet Revenue Target
The Federal Government will record a higher deficit than the budgeted N11.3trillion this year given that it is unlikely to meet its “ambitious” revenue target, analysts at United Capital Research have said. The analysts, who made the prediction in a recent note, particularly raised concern over the FG’s ability to achieve its revenue targets from its… Read More
CBN: Federal Government Earns N2.85trn From Non-Oil Export In 10 Months
The Federal Government raked in N2.85trillion (about $6.60billion) as earnings from non-oil and electricity export between January and October last year, latest data obtained from the Central Bank of Nigeria (CBN) shows. The amount is $2 billion (43.86per cent) more than the $4.56billion that the country earned from nonoil export in the… Read More
VANGUARD
Debt: DMO Set To Raise N1.2trn Via FGN Bonds In Q1’23
THE Debt Management Office, DMO, yesterday announced plans to raise up to N1.2 trillion through FGN bonds in the first quarter of the year 2023. The DMO disclosed this in its FGN Bonds issuance calendar for Q1 2023. Among other things, the calendar shows that the DMO will sell between N320 billion and N400 billion worth of FGN bonds… Read More
POLITICAL HEADLIINES
SUN
2023 Election: Customs Intercepts Military Hardware, Hard Drugs At Lagos Airport
Ahead of next month’s general elections, the Nigeria Customs Service (NCS), said it has intercepted hard drugs, military and police hardwares at the cargo section of the domestic wing of the Muritala Muhammed Airport (MMA), Lagos. This is coming as the Muritala Muhammed Airport Command (MMAC) of NCS also said it generated… Read More
NAIRAMETRICS
2023: How INEC Plans To Use Technology To Track Materials – Prof Yakubu
The Independent National Electoral Commission (INEC) stated that it has established a Logistics Management System, which uses an android application and web dashboard to track election materials procurement through storage to delivery. This was disclosed by INEC Chairman, Prof. Mahmood Yakubu, in Chatham House… Read More
TECHNOLOGY HEADLINES
DAILY TRUST
Federal Government Showcases 250 Technological Products Before Investors
About 250 locally made technological products which can generate hundreds of billions of naira for Nigeria have been presented to local and foreign investors by the federal government. The technological products, all developed by Nigerian scientists at the Federal Institute for Industrial Research Oshodi (FIIRO), were presented on Tuesday… Read More