NAIRAMETRICS
Stock Market Opens Week Positive With N62 Billion Gain
Trading activities on the floor of the Nigerian Exchange Limited (NGX) closed on a positive trajectory following improved investors ‘confidence. Shares of Multiverse Plc and CWG Plc were among the top gainers on Monday as the All-Share Index appreciated by +0.22% to close at 52,579.52 index points, while the market capitalization of equities… Read More
Crude oil theft: Tanker And Crew Must Pay $15M And N5M Penalties Before Release- Awwal Gambo Insists
Nigeria’s Chief of Naval Staff has said that the tanker and crew that were arrested over crude oil theft allegations must pay penalties before release. According to a Vanguard report, the Chief of Naval Staff, Vice Admiral Awwal Gambo said this on Monday, May 8. He declared that the tanker, MT Heroic Idun, and it’s 26 crew members that… Read More
VANGUARD
WAICA: Federal Government Decries Low Insurance Penetration In Africa
The Federal Government has decried the low level of insurance penetration in Africa and the poor contribution of the sector to the economy of most African economies. The Federal Government has decried the low level of insurance penetration in Africa and the poor contribution of the sector to the economy of most African economies… Read More
LEADERSHIP
Nigeria Spends $3.3billion On Auto Parts Annually’
The Nigerian automotive industry has been described as having huge potential but import-dependent. In an overview of the country’s auto industry, the chairman of the forthcoming West Africa Automotive Show (WAAS) Conference in Lagos and former National Automotive Design and Development Council (NADDC) director of planning and… Read More
ECONOMY HEADLINES
PUNCH
CBN To Sanction Banks Backing Unlicensed Foreign Firms
The Central Bank of Nigeria has said it will sanction banks assisting the operations of unlicensed foreign firms. It stated on Monday in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’, signed by the Director, Financial Policy and Regulation Department, Muhammad Musa.‘Any CBN regulated… Read More
VANGUARD
FAAN To Develop N56bn Aerotropolis City In Akure
AN Aerotropolis City, said to be the first of its kind in sub-Saharan Africa, is to be developed at the Akure Airport, in Ondo State, on a private/public partnership arrangement between the Federal Airports Authority of Nigeria, FAAN, and a private investor. FAAN said it has finalised arrangements with a private company, Ala Resort Limited, to… Read More
GUARDIAN
USSD Debt Hits N120b, Banks Default In Remittance
While there are ongoing conversations between the telecommunications operators and the banks at the regulatory level to find an amicable solution to the protracted crisis affecting the Unstructured Supplementary Service Data (USSD) platform, the service providers said that the debts owed them by defaulting banks have hit N120 billion… Read More
POLITICAL HEADLIINES
THISDAY
APC’s NWC Names Akpabio For Senate President, Abass For Speaker
The National Working Committee (NWC) of All Progressives Congress (APC), yesterday, nominated former governor of Akwa Ibom State, Godswill Akpabio, for Senate President, and Hon. Tajudeen Abass from Kaduna State for Speaker of the House of Representatives. The nominations, which followed a consensus deal, confirmed weeks of… Read More
LEADERSHIP
Presidential Poll: We Shall Ensure Justice – Tribunal
The Presidential Election Petitions Tribunal began sitting yesterday in Abuja with a pledge to ensure justice for those who deserve it.The tribunal fixed the hearing of the petitions filed by the Action Peoples Party (APP) and the Labour Party for tomorrow. The Presidential Election Petitions Tribunal began sitting yesterday in Abuja with a pledge to ensure… Read More
TECHNOLOGY HEADLINES
THISDAY
House Queries NCC Over 1014 Projects Worth Over N2 Billion
The House of Representatives has queried the Nigerian Communication Commission (NCC) over 1014 projects under the Universal Service Provision Fund (USPF), including an e-Library project that was carried out to the tune of over N2 billion.The House frowned at a request by the Commission for N700 billion to ensure that 27 million… Read More