BUSINESSPOST
Customs Street Falls 0.48% As Investors Offload Financial Stocks
Sustained profit-taking in financial stocks further weakened the Nigerian Exchange (NGX) Limited on Tuesday, as investors keep an eye on happenings in the macroeconomic environment. Business Post reports that Customs Street depreciated by 0.48 per cent yesterday due to selling pressure, causing investor sentiment to turn bearish… Read More
PUNCH
EKEDC Gets 60 Additional Band A Feeders
The Nigerian Electricity Regulatory Commission has approved the upgrade of 60 additional feeders of the Eko Electricity Distribution Company, bringing the total to 134. EKEDC spokesperson, Babatunde Lasaki, said in a statement that the upgrade followed a review of the feeders in line with their capabilities to give the customers classified under… Read More
BDC Operators Arrested As Naira Sells 1,416/$
Operatives from the Economic and Financial Crimes Commission on Tuesday reportedly arrested some h Bureau De Change operators at the popular Wuse Zone 4 market on Tuesday. This came as traders also said some BDC operators resisted the arrest during a sting operation. The operatives had embarked on routine raids to sanitise the… Read More
DAILYTRUST
CAC Gives PoS Operators 2 Months To Register Agents
The Corporate Affairs Commission (CAC) has given Nigeria’s 1.9 million PoS agents a deadline of two months to onboard and register its agents and merchants with the commission as part of plans to improve transparency and reduce fraud in the financial space. Daily Trust reports that CAC announcement is coming on the heels of… Read More
ECONOMY HEADLINES
SUN
Petrol Scarcity: Again, NNPC Cautions Against Panic Buying
The Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to refrain from panic buying of Premium Motor Spirit (PMS), also known as petrol, saying that there is sufficient supply of the product across the country. According to NNPC, lines have since thinned out at filling stations they monitored across multiple… Read More
Cybersecurity Levy: SERAP Gives Tinubu 48 Hours To Withdraw Unlawful CBN Directive
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to immediately direct the Central Bank of Nigeria (CBN) to withdraw the cybersecurity levy on Nigerians as it patently violates the provisions of the Nigerian Constitution 1999 [as amended] and the country’s international human rights obligations and… Read More
VANGUARD
Oil Bloc: Federal Government Removes Signature Bonus To Woo Investors
In a bid to attract fresh investments and ramp up oil output, the Federal Government yesterday, announced the removal of the signature bonus requirement in bidding for oil blocks. Minister of State for Petroleum Resources, and Oil, Mr Heineken Lokpobiri, disclosed this on the sidelines of the ongoing 2024 Offshore Technology Conference… Read More
POLITICAL HEADLINES
PUNCH
N7.5bn Fraud: EFCC Grills 20 NSCDC Contractors, 10 Officers
The Economic and Financial Crimes Commission is probing 10 senior officers of the Nigeria Security and Civil Defence Corps over an alleged N7.5bn fraud. The anti-graft agency has also invited 10 contractors linked with the alleged fraud. The EFCC Chairman, Ola Olukoyede, had on April 26, 2024, written a letter to the NSCDC CG, inviting… Read More
THENATION
Senate Begins Probe Of Stalled $18.5b Abuja Centenary City Project
The Senate yesterday set up a seven-member ad hoc committee to investigate what caused the stalling of the $18.5 billion Abuja Centenary Economic City project, 10 years after its commencement. The Red Chamber directed the committee to review the original public private partnership (PPP) agreement and recommend amendments, if… Read More
TECHNOLOGY HEADLINES
NAIRAMETRICS
US To Deploy Cybercrime Advisor In Nigeria To Combat Fraud Scams, Sextortion
The United States has announced that it plans to deploy a cybercrime advisor in Nigeria. The advisor is poised to facilitate cooperation between the two nations, offering essential training, equipment, and technical assistance to bolster Nigeria’s capacity to address cyber threats, including fraud scams and sextortion. The decision to deploy the… Read More