BUSINESSPOST
Stock Investors Loses N74bn As Inflation Numbers Dampen Mood
It was another awful day for stock investors at the Nigerian Exchange (NGX) Limited as the market further declined by 0.13 per cent on Wednesday. The loss recorded at Customs Street at midweek was influenced by selling pressure, triggered by another rise in the inflation rate in the country. The National Bureau of Statistics (NBS) yesterday… Read More
DAILYTRUST
CBN Grants Approval To 14 Money Transfer Operators
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP). The Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, stated that this will spur liquidity in… Read More
Oil Workers Protest Injustice, Seek Intervention
Workers of the Warri Refining and Petrochemicals Company Limited (WRPC) in Delta State have called on the President of the Federal Republic of Nigeria, President Ahmed Tinubu, to intervene and address what they describe as workplace slavery and injustice perpetrated by the management of the company. The workers made this call during a… Read More
THENATION
Federal Government Lists N4.21b Savings Bonds
The Federal Government of Nigeria has listed N4.214 billion of its April 2024 Savings Bonds on the Nigerian Exchange Ltd. (NGX) platform. The listing was announced yesterday in a market bulletin by Head of NGX’s Issuers Regulation Department, Godstime Iwenekhai. Iwenekhai indicated that the bond specifications included FGS April 2026 of… Read More
ECONOMY HEADLINES
SUN
CBN Set To Double FX Inflows, Grants AIP To 14 New IMTOS
A strategy to double foreign exchange remittances through formal channels has been activated by the Central Bank of Nigeria (CBN) as it granted 14 new International Money Transfer Operators (IMTOs) the Approval-in-Principle (AIP) to start operations. This was disclosed in Abuja on Wednesday by the Bank’s acting director of corporate… Read More
Tinubu Inaugurates 3 Gas Projects
The Federal Government, yesterday, inaugurated three critical gas infrastructure projects in Imo and Delta to drive the country’s gas sector. President Bola Tinubu, while inaugurating the projects virtually, expressed delight and congratulated Nigerians for the achievements recorded within months of his administration. He inaugurated the ANOH-OB3… Read More
PUNCH
Minimum Wage: Labour Dumps Negotiation Over Federal Government’s N48,000 Proposal
The Nigeria Labour Congress and Trade Union Congress on Wednesday dumped the minimum wage negotiation after the Federal Government offered to pay N48,000, a figure far below the N615,00 the unions were demanding as the new national minimum wage. After abandoning the session, the furious labour leaders summoned an emergency… Read More
POLITICAL HEADLINES
SUN
Senate Moves Against Governors On Local Government Autonomy
The Senate, yesterday, accused state governors of misappropriating funds allocated to local government councils in Nigeria. It claimed that the council chairmen were usually compelled to sign off cheques by governors, who in turn, allocate peanuts to them. This is coming as the Senate called on President Bola Tinubu to immediately stop allocation of… Read More
VANGUARD
Senate Approves Tinubu’s Request Of $500m Loan For BPE
THE Senate has approved President Bola Tinubu ‘s loan request amounting $500 million in favour of the Bureau of Public Enterprises, BPE, for electricity metering program to improve financial and technical performance of electricity distribution companies, DisCos, under the World Bank funded Nigeria Distribution Sector Recovery Program, DISREP… Read More
TECHNOLOGY HEADLINES
BUSINESSDAY
Seven Tech Firms Grow Fastest On Financial Times Ranking
Seven Nigerian tech firms defied economic woes to become some of the fastest-growing companies in Africa, according to the Financial Times’ ‘Africa’s Fastest Growing Companies 2024’ list. These businesses weathered pandemic-induced turmoil to grow their revenues to $979.18 million. In its third year, the ranking considered how companies… Read More