BUSINESSPOST
Nigerian Stocks Relapse By 0.89% After Profit-Taking
Renewed profit-taking by investors returned the Nigerian Exchange (NGX) Limited to the bears’ territory on Monday, closing lower by 0.89 per cent when trading activities ended for the day. The selling pressure on Nigerian stocks during the session occurred despite the key sectors of the bourse finishing stronger, as the banking sector appreciated by… Read More
VANGUARD
NLC, TUC Give NERC Sunday Deadline To Reverse Hike In Electricity Tariff
Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, have given the Nigerian Electricity Regulatory Commission, NERC, till May 12 to withdraw the recent hike in electricity tariff or face unprecedented industrial action. The ultimatum was issued in a joint letter to the Chairman/Chief Executive Officer, CEO, dated… Read More
THISDAY
PTML Terminal Boosts Operation With N10.5bn Mobile Harbour Crane
Nigeria’s largest multipurpose terminal, the Port and Terminal Multiservices Limited (PTML) has acquired a new state of the art 600 tons Liebherr Mobile Harbour Crane (MHC) worth more than seven million euros (about N10.5 billion) to boost operation at its facility. The acquisition of the new crane is coming barely five months after the terminal… Read More
DAILYTRUST
Banks Borrowing Drops By N23.99trn In March
Nigerian banks’ lending, in the month of March, to the private and public sectors dropped by N23.99 trillion, data from the Central Bank of Nigeria (CBN) has shown. Analysis of the data indicated that borrowings to the private sector reduced to N71.21tr in March 2024 when compared to the N80.86tr in February, making a N9.65tr difference. For the… Read More
ECONOMY HEADLINES
PUNCH
Dollar Speculation: Federal Government To Ban Naira From Crypto Trading Platforms
The Federal Government, through the Securities and Exchange Commission, is set to delist the naira from all peer-to-peer crypto platforms as the government steps up efforts to tackle exchange rate manipulators and dollar racketeers. The development came against the backdrop of the recent moves by the Federal Government to regulate… Read More
Federal Government Eyes $750m World Bank Loan, Mulls Telecom Tax
In pursuit of securing a new $750m loan from the World Bank, the Federal Government may reintroduce previously suspended telecom tax and other fiscal measures. This is according to the Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank. A copy of the… Read More
THISDAY
LPG Penetration Gets Boost As $25m Triansel Gas Terminal Reaches 90% Completion
With project construction now at 90 per cent completion level, the 156,000 metric tons per annum Triansel Gas Limited’s Liquefied Petroleum Gas (LPG) storage terminal in Koko, Delta State, will be inaugurated for full operation towards the end of 2024, to further boost domestic penetration of the product in Nigeria. The $25 million Triansel Gas… Read More
POLITICAL HEADLINES
TRIBUNE
Olukoyede Unfolds EFCC’s Strategies In Fight Against Corruption
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has given detailed explanations on the strategies being employed by the Commission in the fight against corruption, describing them as comprehensive. He made the disclosure in Accra, Ghana on Monday, May 6, 2024 at the 14th… Read More
THENATION
No Room For Foreign Military Base, Federal Government Affirms
he Federal Government is not considering request from any country to establish military base in Nigeria, Information and National Orientation Minister Mohammed Idris said yesterday. Idris dismissed as unfounded reports that the government was considering the citing of a military base in the country, saying Nigeria “is not in any such… Read More.
TECHNOLOGY HEADLINES
NAIRAMETRICS
Why Nigerian Fintech Firms Are Facing Regulatory Issues – AFN President
President of the Africa Fintech Network (AFN), Dr. Segun Aina, has said that some of the regulatory issues facing fintechs in Nigeria are due to the dynamic nature of their technology-enabled business. Speaking in an interview with Nairametrics against the backdrop of the recent clampdown on some fintechs by the Central Bank of… Read More