BUSINESSDAY
Equities Market Records First Gain In July
Nigeria’s equities market recorded its first positive close in this new month after rising by 0.05 percent on Tuesday July 2. Stocks like Fidson Healthcare, Jaiz Bank and Cornerstone Insurance helped the market to garner about N26billion at the close of trading. Fidson moved up most, from N13.50 to N14.75, adding N1.25 or 9.26percent. Jaiz… Read More
VANGUARD
Electricity: Metered Consumers Decline 0.21% To 5.9m
The total number of metered customers declined by 0.21 percent, month-on-month, MoM to 5.977 million in May 2024 from 5.990 million recorded in April. Similarly, the total number of electricity registered customers declined by 1.81 percent MoM, to 13.1 million in May, 2024 from 13.4 million recorded in April 2024. This was contained in the latest… Read More
CBN To Sanction Banks For Rejecting Old, Small Dollar Denominations
The Central Bank of Nigeria (CBN) has threatened to sanction Deposit Money Banks (DMBs) for rejecting old and small denominations of the United States of America Dollars. In a circular issued by the Ag. Director, Currency Operations Department, CBN, Mr. Mohammed Solaja, the apex bank said its market intelligence had revealed… Read More
THENATION
SMEDAN, Banks Sign N6b Loan For Smes
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has signed a memorandum of understanding (MoU) with two banks to enable Small and Medium Enterprises (SMEs) get access to capital at a single-digit interest rate for the purpose of work capital, workplace procurement, and also for work equipment… Read More
ECONOMY HEADLINES
PUNCH
Dangote Refinery: Declare Crude Supply Emergency, Oil Producers Tell Tinubu
As concerns mount over the lack of domestic crude oil to the Dangote Petroleum Refinery and other indigenous refiners, the Independent Petroleum Producers Group has called on President Bola Tinubu to consider declaring a state of emergency on crude oil production in Nigeria following the lingering crisis associated with this. IPPG is an… Read More
THENATION
Nigeria’s Trades With EU Hits 35b Euros
Nigeria-European Union (EU) trade reached €35billion in 2023, with the EU accounting for about one-third of Nigeria’s foreign trade, resulting in a trade balance in favor of Nigeria, it emerged yesterday. This comes as the EU and the European Business Chamber (Eurocham Nigeria) signed a 300,000 euros grant agreement to support the further… Read More
SUN
Federal Government Approves New Withholding Tax Regime, Exempts SMEs, Farmers, Manufacturers
The Federal Government has authorised the exemption of small enterprises, manufacturers and farmers from paying withholding tax to reduce the tax burden on firms. It also made significant modifications to the previous tax structure, such as lowering rates for enterprises with modest margins and implementing steps to combat evasion. Chairman… Read More
POLITICAL HEADLINES
PUNCH
House Of Representatives To Probe WAEC Revenue, Expenditures
The House of Representatives, on Tuesday, mandated its Committee on Basic Education to investigate the Internally Generated Revenue of the West African Examination Council from 2018 to 2023. The House arrived at the resolution after considering a motion brought on the floor of the House during Tuesday’s plenary by the member representing… Read More
DAILYTRUST
Tinubu Appoints Adebise, Muttalab As Board Chair, CEO Of Family Homes Fund
President Bola Ahmed Tinubu has approved the appointment of Mr Demola Adebise as the Board Chairman of the Family Homes Funds Limited (FHFL). Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement on Tuesday, also said that Mr Abdul Muttalab had been appointed as Chief Executive Officer/Managing Director of… Read More
TECHNOLOGY HEADLINES
BUSINESSDAY
World Bank Extends Nigeria’s $430m NIN Enrolment Facility To 2026
Nigeria failed to meet its National Identification Number (NIN) enrollment target of 148 million by June 2024. As a result, the World Bank has extended a $430 million facility for the project until 2026. The National Identity Management Commission (NIMC) reported that as of May 2024, the total number of NIN enrollments was 107.34 million, leaving a… Read More