BUSINESSPOST
Customs Street Collapses By 0.07% As Investors Eye T-Bills Auction
The Nigerian Exchange (NGX) Limited collapsed by 0.07 per cent on Tuesday as investors shifted attention to the fixed-income market, which is expected to witness treasury bills auction on Wednesday. It was observed that traders liquidated their shares yesterday to place bids for the next day’s T-bills sales at the primary market by the Central… Read More
SUN
Tariff Hike, FX Volatility Hurting Maritime Sector –Shippers
For months running, importers and exporters operating in the nation’s maritime industry have been tormented by volatilites in the exchange rate used for the computation of import duty payments. The rate, determined the Central Bank of Nigeria (CBN), has been largely unstable, turning the shipping business into a nightmare of some sorts. To this… Read More
Customs: Why We Are Intensifying Efforts On Trade Modernisation
The Nigeria Customs Service ( NCS) has said it is intensifying efforts on trade modernization so as to enhance trade facilitation, efficiency and revenue generation. This is as the NCS said it is working towards deploying a Unified Customs Management system geared towards seamless transactions by importers. The National Public Relations Officer… Read More
THISDAY
CBN: No Plans To Revoke Additional Banking Licences
Following the recent revocation of the operating license of Heritage Bank Plc, the Central Bank of Nigeria (CBN) yesterday clarified that there was currently no further plans to withdrawal additional banking license as insinuated in some quarters. The central bank’s clarification came against the backdrop of some information circulating in the… Read More
ECONOMY HEADLINES
SUN
Tinubu Directs Finance Minister To Present New Minimum Wage Figures In 2 Days
President Bola Tinubu has directed the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, to come up with cost implications for the new minimum wage, and present an affordable, sustainable and realistic figure within the next two days. The directive was made known by the Minister of Information and National Orientation… Read More
Strike: Nigeria Loses N141bn In 2 Days
Although the Nigeria Labour Congress (NLC) has agreed to suspend its indefinite nationwide strike for a week, there are concerns from economic analysts about its impact on the nation’s financial markets even as the outlook for the naira as well as activities in the stock market remains pessimistic. This is coming after Africa’s second largest economy lost… Read More
PUNCH
CNG Will Reduce Petrol Imports By $4.4bn–Federal Government
Nigeria is going to reduce the importation of Premium Motor Spirit, popularly called petrol, by about $4.4bn annually by adopting the use of Compressed Natural Gas, the Federal Government announced on Tuesday. It announced this through the Presidential Compressed Natural Gas Initiative, adding that the target of government was… Read More
POLITICAL HEADLINES
THISDAY
Tinubu Inaugurates Six-Lane Arterial Road N20, Names Road After Prof Wole Soyinka
President Bola Tinubu on Tuesday inaugurated the Arterial Road N20, which runs from Northern Parkway to Outer Northern Expressway (ONEX) in the Federal Capital Territory (FCT). The Arterial Road N20, which is one of the transverse arterial roads connecting the Outer Northern Expressway (ONEX) and the Outer Southern Expressway… Read More
SUN
Senate Moves To Gag Labour, Condemns Shutdown Of National Grid
The Senate has frowned at what it described as ‘some excessive actions’ taken by members of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) during the now suspended nationwide strike for a new minimum wage. It specifically declared that the shutdown of the national grid was more of economic sabotage than an… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
Ten Banks Contribute N33.7 Billion To Nigeria’s Tech Development Fund In 2023
Ten commercial banks in Nigeria contributed a total of N33.7 billion to the Nigeria Information Technology Development Fund (NITDEF) in 2023. According to the banks’ audited financial reports, the contribution, which is part of their statutory taxes, was deducted from their pre-tax profits for the year. While the government has been… Read More