PUNCH

Stock Investors Record N13bn Loss In One Week

The Nigerian Exchange Limited closed lower last week as investors took stock of the hike in the Monetary Policy Rate by the Monetary Policy Committee of the Central Bank of Nigeria and continued with their profit-taking. At the end of the trading activities last week, the market capitalisation declined by N13bn. The All-Share Index closed 0.04… Read More

‘Risks To Financial Stability High’

International Monetary Fund chief, Kristalina Georgieva, has warned on Sunday that risks to financial stability has increased following the recent turmoil in the banking sector. Speaking at the China Development Forum in Beijing, the IMF managing director said she expected 2023 to be another challenging year, with global growth slowing to below… Read More

THE SUN

Naira Scarcity: CBN Steps Up Effort To Boost Supply As Queues Reduce At Banks, ATM’s

Smiles lit up hitherto forlorn faces of depositors at the weekend, as many commercial banks opened for operations to disburse and receive cash lodgements, in line with the directives of the Central Bank of Nigeria (CBN). But several Automated Teller Machines (ATMs) failed to dispense cash, as banks assured the situation will normalise within the… Read More

Budgit Urges NPC To Release N896bn Breakdown Of Census Expenditure

BudgIT, a leading public data organisation raising active citizens’ participation in nation-building and government-citizen communication for good governance and accountability, has urged the National Population Commission to publish the breakdown for the N896 billion 2023 National Population Census budget. Earlier in March, the Minister of… Read More

ECONOMY HEADLINES

DAILY TRUST

Oil Production Rises To 1.7m Bpd – FG

The Minister of Defence, Major General Bashir Magashi has said the onslaught launched against crude oil theft by the Nigerian Navy and other sister security agencies led to increased oil production of 1.7m bpd a step further from what was obtained in July 2022. Magashi spoke through the Chief of Naval Staff, Awwal Gambo in… Read More

VANGURAD

Budget 2023: Fears As Oil Price Drops 3% To $73.87 Per Barrel

There were fears, weekend, as the price of Nigeria’s premium oil grade, Bonny Light, dropped to $73.87 per barrel, from $76.37, recorded last week, indicating a fall of three per cent. The Federal Government had benchmarked the 2023 budget at $75 per barrel and 1.8 million barrels per day, bpd, including condensate, which Nigeria has the… Read More

THIS DAY   

Many Benefits Of CBN’s Cash-Less Policy

Obinna Chima writes that the cash-less policy will contribute in the drive to formalise economic activities and reduce drastically the prevalence of cash in the economy, which has been established fuels corruption. One issue that has generated a lot of controversies in the country in the past few months is the Central Bank of Nigeria’s (CBN) drive… Read More

POLITICAL HEADLIINES

THIS DAY

Fresh Agitation After Constitutional Amendment

The signing of 16 constitutional amendments by President Muhammadu Buhari has not just signalled a victory for the advocates of restructuring but has also fuelled fresh agitations for a comprehensive review of the 1999 Constitution in line with the foundational federal principles, Gboyega Akinsanmi writes. On March 17, President Muhammadu… Read More

INEC-Bashing As A False Start

Okello Oculi blames bad political representations instead of the electoral umpire for low voter participation in the elections. The low voter participation in elections for Governors and State Legislatures was widely attributed to failures by some staff of the Independent National Election Commission (INEC) in conducting election, of 25 February, 2023, for… Read More

TECHNOLOGY HEADLINES

BUSINESS DAY

How Removal Of Withdrawal Limits Eases Pressure On Payment Channels On October 26, 2022, the Central Bank of Nigeria (CBN) redesigned the Naira currency notes and placed limits on bank withdrawal which resulted in scarcity of cash till date. According to the Apex bank, the redesigning of the N200, N500 and N1000 notes and new limits on large cash withdrawals would help curb money laundering and… Read More