BUSINESSDAY

Equities Market Dips By 0.29% As Profit Taking Persists

Nigeria’s equities trading ended lower by 0.28percent or N168billion on Wednesday amid dearth of buy-side triggers. For the third time this week, the market has closed in the red zone. Week-to-date (WTD) the market has dropped by 0.79percent. In their search for profit, investors sold mostly the shares of FBN Holdings, Vitafoam, and Berger… Read More

THENATION

No Mining Licences To Investors Without Plans, Says Alake

Minister of Solid Minerals Development, Mr Dele Alake has said the Federal Government will ban or foreclose on the issuance of mining licences to investors without requisite plans for local value addition. He said this administration will no longer allow anybody or licence any company that wants to go into the mineral sector without giving it a plan for… Read More

PUNCH

Network Disruptions Caused 70% Sales Drop – Car Dealers

Nigerian car dealers have said that the disruption in internet connections due to the cut in the undersea cable has led to a 70 per cent drop in sales. Speaking with The PUNCH in Lagos recently, the dealers said that there had been a significant drop in sales before now but worsened by the telecom services disruption. Recall that on Thursday… Read More

Banks Demand Three-Year Tax Clearance From Forex Buyers

Some banks have asked their customers to submit tax clearance for the last three years when applying for Form A. Form A, which is an application form designed by the Central Bank of Nigeria to pay for service transactions such as school fees, medical fees, and more, allows customers to purchase funds at the CBN or interbank rate to make… Read More

ECONOMY HEADLINES

THENATION

CBN Clears All $7b Forex Backlog

The Central Bank of Nigeria (CBN) has cleared all $7 billion foreign exchange (forex) backlog inherited by Governor Yemi Cardoso. In a statement yesterday, Acting Director of Corporate Communications, Central Bank of Nigeria (CBN), Mrs. Hakama Sidi Ali, confirmed the settlement of all valid forex backlog claims. She explained that the CBN… Read More

THISDAY

House Approves N2.177tn Supplementary Budget Extension

The House of Representatives yesterday, approved the extension of the N2.177 trillion Supplementary Act, 2023, from December 31, 2023, to June 30, 2024, following President Bola Tinubu’s request. The budget revealed that the sum of N967,486,010,536 was for Statutory Transfers; N6,557,597,611,797 was for Debt Service… Read More

NNPC Says Processes For Public Ownership Of Its Shares To Begin Soon

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, yesterday said that the anticipated public listing of the company’s shares at the stock market as provided for in the Petroleum Industry Act (PIA) will start soon. Kyari told international oil and gas players participating at the ongoing 2024… Read More

POLITICAL HEADLINES

BUSINESSDAY

Tinubu Suspends All Public Funded Foreign Trips

President Bola Tinubu has suspended all public funded foreign trips, with effect from 1st of April 2024. The suspension was contained in a circular signed by the Femi Gbajabiamila, the Chief of Staff to the President and sighted by BusinessDay, on Wednesday. The circular SH/ COS/ 63/1A/ 5746 and dated 12th March 2024, was addressed to… Read More

SUN

Reps Jack Up CJN, Other Judicial Officers’ Salaries

The House of Representatives yesterday passed the bill for upward review of salaries, allowances and fringe benefits for Judicial Office holders across the country through third reading. The bill seeks to amend Certain Political, Public and Judicial Office Holders (Salaries and Allowances, etc.) Act, No. 6, 2002 (as amended) by deleting… Read More

TECHNOLOGY HEADLINES

THISDAY

Federal Government Inaugurates Steering Committee on Digital Identification Project

The federal government has announced the official inauguration of the Nigeria Digital Identification for Development Project Ecosystem Steering Committee. The inauguration of the steering Committee held at the conference room of the Office of the Secretary to the Government of the Federation (OSGF) Abuja, was carried out by the… Read More