BUSINESSPOST
NGX Loses 0.16% As Investors Dump Financial Stocks
Investors reacted to the hawkish tone of the Central Bank of Nigeria (CBN) at the local stock market on Wednesday by selling off financial stocks. The apex bank on Tuesday further increased the benchmark interest rate by 1.50 per cent to 26.25 per cent in a bid to tame inflation, which has defied all possible solutions proffered except for insecurity… Read More
THENATION
NERC Cuts Tariff Calculation Over Forex Rate
The Nigerian Electricity Regulatory Commission (NERC) has announced a cut in the exchange rate for calculating the current electricity tariff for Band A customers by 16.03 per cent. Citing the appreciation of the naira against the dollar in the past one month, the electricity regulator consequently in its recently released Multi Year Tariff… Read More
DAILYTRUST
BoI Disburses N496bn To MSMEs, Creates 2m Jobs
Despite significant global and local economic downturn, the Bank of Industry (BoI) says it has so far disbursed N496 billion to Nigeria’s Micro, Small and Medium Enterprises which has aided the creation of two million jobs in the economy. Speaking at the 64th Annual General Meeting which was held in Abuja on Wednesday, the chairman of the… Read More
SUN
Cost Of Imported Goods To Swell As Shipping Companies Hike Charges
Nigerians may face worsening economic situations as the cost of imported goods and services are expected to rise exponentially following the hike in surcharges by foreign shipping companies. One of the shipping companies, A.P. Moller-Maersk, wrote to their clients (importers and clearing agents) on Wednesday, May 22, 2024… Read More
ECONOMY HEADLINES
PUNCH
Labour Wants N497,000, Federal Government Laments Paucity Of Funds
The tripartite committee on new minimum wage has adjourned till next Tuesday, May 28 to continue deliberation after Wednesday’s meeting in Abuja ended in a deadlock again. The Federal Government, the organised private sector and the organised labour failed to reach a consensus on the new minimum wage at the Wednesday meeting. Sources at… Read More
SUN
Nigeria, Benin Holds Bilateral Talks On Free Trade
The Foreign Ministers of Nigeria and Benin Republic have held bilateral talks on improving free flow of trade and commerce. Speaking after the joint meeting held at a Benin Republic house border located at Tsamiya, Bagudo Local Government Area of Kebbi State, Minister of Foreign Affairs, Yusuf Tuggar, said the consultative forum was based on… Read More
THISDAY
In New Regulatory Intervention, CBN Orders BDCs To Reapply For Operating Licences
The Central Bank of Nigeria (CBN) yesterday ordered all existing Bureau De Change (BDCs) operators in the country and promoters of new entrants to reapply for new operating licenses of their choice. The directive came as the apex bank introduced fresh regulatory and supervisory guidelines for BDC operations, setting a new licensing regime… Read More
POLITICAL HEADLINES
PUNCH
First Anniversary: Tinubu Directs 47 Ministers To Showcase Scorecards
In commemoration of his first anniversary in office, President Bola Tinubu has directed his ministers to present their performance reports to Nigerians. The Minister of Information and National Orientation, Mohammed Idris, while announcing this at a press briefing in Abuja on Wednesday, said the low-key first-anniversary celebration would be marked… Read More
THENATION
House of Representatives To NUPRC: Stop Granting Consent To Divesting IOC’s
The House of Representatives yesterday urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to stop granting consent to divesting International Oil Companies (IOCs) until there is full compliance with the Guidelines for Decommissioning and the Regulations made pursuant to the Petroleum Industry Act (PIA)… Read More
TECHNOLOGY HEADLINES
THISDAY
Telcos Seek Engagement With Federal Government To Re-Route Submarine Cables On Lagos-Calabar Coastal Road
Telecoms operators (Telcos) have called on the federal government to immediately engage with them for proper mapping and relocation of the submarine cables that were laid beneath the earth surface at the Lagos axis of the proposed Lagos-Calabar coastal road. They are worried that the cables could be damaged, and internet connectivity disrupted… Read More