Daily Business Headlines – MAY 26 2023

BUSINESSPOST

Stock Exchange Sheds 0.20% Day After Cbn’s 0.5% Rate Hike

The domestic stock exchange depreciated by 0.20 per cent about 24 hours after the Central Bank of Nigeria (CBN) announced a 0.5 per cent hike in the benchmark interest rate to 18.5 per cent. It was observed that the bears disrupted the winning streak of the Nigerian Exchange (NGX) Limited on Thursday as investors chewed the… Read More

SUN

Minister Charges NDIC Board To Help Tackle Low Revenue, Npls

As Nigeria’s economy braces up for its litany of challenges including high level of non-performing loans, corporate governance and revenue slump, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has tasked the new board of the Nigeria Deposit Insurance Corporation (NDIC) to close ranks to tackle these… Read More

GUARDIAN

Nigeria Gets Seven Oil Regulations Amid N46.16b Stolen, Missing Crude

Nigeria signed seven new regulations into law, in Abuja, yesterday, in a move to boost metering of all crude oil operations in the upstream segment of the nation’s petroleum industry. The new regulations signed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are: Nigeria Upstream Petroleum… Read More

THISDAY

Experts Advocate Sustainable Quality Culture For Nigerian Products

Standard and quality experts in the continent have tasked organisations to see standard and quality as key credentials to advancing the continent’s quest to compete with the rest of the world therefore, would position the affricate market as one that is not a dumping ground but an exporting market.   This affirmation was made during… Read More

ECONOMY HEADLINES

PUNCH

Rate Hike: Expect Higher Prices, MAN, NECA Warn CBN

The Manufacturers Association of Nigeria and the Nigeria Employers’ Consultative Association have said the recent increase of the Monetary Policy Rate by the Central Bank of Nigeria will compound the imminent recession in the manufacturing sector and negatively impact its operations in many ways. MAN, in a statement on… Read More

Reforms Vital To Power Sector Growth, Says Federal Government

The Minister of State for Power, Goddy Jedy-Agba, has rated the Rural and Electrification Agency high for having impactful projects across the six geopolitical zones of the federation. Jedy-Agba, who said this in a chat with journalists on Thursday, stated that in his assessment, the Agency has performed satisfactorily and… Read More

SUN

Federal Government Raised Over N50bn Via Savings Bond –DMO

The Debt Management Office (DMO) on Thursday, revealed that it raised a total of N50.2 billion through FGN Savings Bond from about 35,000 subscribers so far. The Director General, DMO, Patience Oniha, stated this during the NGX Savings Bond webinar 2023 organised by the Nigerian Exchange Group (NGX) in collaboration… Read More

POLITICAL HEADLIINES

PUNCH

May 29: Tinubu Gets Transition Report, Vows To Tackle Insecurity, Power Crisis

The President-elect, Bola Tinubu on Thursday pledged to address the security and power crises, among other challenges confronting the country. Tinubu who was handed the transition report by the President, Major General Muhammadu Buhari (retd.), promised not to disappoint Nigerians. He said this shortly after his investiture with… Read More

SUN

Anxiety As 3 Courts Decides On Suits Challenging Tinubu’s Inauguration

Anxiety has set in ahead of the May 29 inauguration of the President-elect, Bola Tinubu of the All Progressives Congress (APC) as three courts, including the Supreme Court, have differed judgment in the lawsuits challenging his swearing-in to this Friday. The Supreme Court had last Wednesday s fixed Friday May 26 to rule on the appeal… Read More

TECHNOLOGY HEADLINES

NEWTELEGRAPH

Af-Cix Partners De-Cix To Improve Internet Performance For Businesses AF-CIX, the new interconnection platform recently launched in Nigeria to boost Internet speed and improve network performance for Internet Service Providers, Content Delivery Networks, Cloud Providers, and Enterprises, has entered into a strategic partnership with DE-CIX, a leading operator of Internet Exchanges, to improve… Read More