THIS DAY
Stock Market Close Flat On Profit-Taking In MRS, 21 Others
Trading activities on the stock market of the Nigerian Exchange Limited (NGX) yesterday was flat as the capitalisation declined by N1 billion amid profit-taking in MRS Oil Nigeria and 21 others. The NGX All-Share Index declined by 1.63 per cent or 0.003 per cent, to close at 55,603.94 basis points from 55,605.57basis points , as the overall… Read More
Deposit Money Banks Borrowing From CBN Grow Expenentially From N400.96bn To N981.86bn YoY
With the persistent aggressive liquidity mop-up by Central Bank of Nigeria (CBN), Deposit Money Banks (DMB) borrowing from the apex bank increased by 96.4 per cent Year-on-Year (YoY) to N981.86billion in first two months of 2023 as against N499.96 billion first two months of 2022. A source in the banking sector hinted… Read More
PUNCH
Fuel Scarcity To Linger Till After Elections – Marketers
The scarcity of Premium Motor Spirit, popularly called petrol, in Abuja and other northern states could persist till after Saturday’s gubernatorial elections in various states, oil marketers said on Tuesday. Petrol scarcity became severe on Monday in Abuja, Nasarawa, Niger and other states in the North, as thousands of motorists… Read More
NAIRAMETRICS
Amid Forex Crisis, Here’s The 2023 Outlook For Treasury Management In Nigeria
The economic outlook for treasuries in 2023 will be eventful. Therefore, most corporate leaders should focus on planning and preparation. Corporate FX strategies will be tested to new levels. Also, the effected of increased market risk and economic volatility and the changing responsibilities of the treasury department will have an impact… Read More
ECONOMY HEADLINES
NEW TELEGRAPH
Bank Loans To Government Rise By N1. 99trn In One Month
Financial institutions’ total loans to government rose by N1.99trillion or 8.07 per cent to N26.65trillion as at January 2023, from N24.66trillion in December last year, latest Central Bank of Nigeria (CBN) data shows. This is in line with the trend of consistent growth in net credit to the government recorded for last year. Indeed… Read More
VANGUARD
Banks In Shock As Rejection Of Old N500, N1000 Spreads
THE enthusiasm that greeted the Supreme Court judgement that the old N500 and N1,000 notes should be in use till December 31st, 2023, has dissipated as widespread rejection of the old notes by bank customers, transporters and other businesses took over the financial and economic space. The rejection of the old notes is driven by… Read More
LEADERSHIP
Blocking Leakages In Oil Industry To Help New Administration Survive
The chief executive officer (CEO), of the Center for The Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has demanded immediate removal of petrol subsidy regime and plugging of all identified revenue leakages in the oil and gas industry. Yusuf, in a detailed document presenting an economic agenda for the incoming administration… Read More
POLITICAL HEADLIINES
PUNCH
BVAS Data Intact, INEC Tells Court, Parties
The Independent National Electoral Commission has said that information in the Bimodal Voter Accreditation System used for February 25 presidential poll is intact. The electoral commission lead counsel, Tanimu Inuwa, gave the assurance on Tuesday at the Court of Appeal in Abuja, while opposing an application filed by the… Read More
THIS DAY
Appeal Court Rules Today On INEC’s Request To Vary Order Permitting PDP, LP To Inspect Poll Materials
The Court of Appeal in Abuja, yesterday, adjourned till today for ruling in an application by the Independent National Electoral Commission (INEC) seeking to vary the court’s order for inspection of materials used for the conduct of the February 25 presidential election. Today, the court would also rule in applications brought by the All Progressives… Read More
TECHNOLOGY HEADLINES
GUARDIAN
Government Extends Electronic Transfer Levy To Domiciliary Accounts
In the face of outcry over rising transaction costs of financial services, deposit money banks (DMBs) have extended electronic money transfer levy (EMTL) to domiciliary accounts. The new levy takes immediate effect according to communication messages sighted by The Guardian. The levy, which is completed by banks on behalf of the… Read More