Daily Business Headlines – SEPTEMBER 1, 2023

BUSINESSPOST

Seplat, GTCO, Others Rebound NGX Index By 0.16%

Trading activities on the floor of the Nigerian Exchange (NGX) Limited were bullish on Thursday as bargain-hunting dominated the landscape. Investors renewed their confidence in Nigerian stocks during the session, leading to a last-minute rebound by 0.16 per cent. This was because, at midday, it was looking like the stock exchange would… Read More

PUNCH

CBN, Federal Government Agency To Review New Regulation On Bank Customers

The National Commissioner of the Nigeria Data Protection Commission, Dr Vincent Olatunji, has disclosed that the commission has formed a joint committee with the Central Bank of Nigeria to review the regulation mandating financial institutions to obtain social media handles, among other data, of customers. He disclosed this a two-day… Read More

Fuel Scarcity: NNPCL To Fix Vandalised Pipelines September Ending

The low supply of Premium Motor Spirit, popularly called petrol, being experienced in parts of Lagos and South-Western states may drag till the end of September, and might spread to other locations if not addressed in earnest. It was gathered on Thursday that the situation may linger till month end because the System 2B pipeline in front of Good… Read More

VANGUARD

Extortion: Truckers Pay N40m Daily At Lagos Ports Corridor

Operators of trucks logistics within the Lagos seaports have indicated that they spend about N40 million everyday on bribery and illegal taxes within the corridor. Disclosing this to Vanguard, an official of the Council for Maritime Transport Unions and Associations (COMTUA) who declined to be named said the syndicates collecting the… Read More

ECONOMY HEADLINES

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Federal Government Plans Fresh Aviation Sector Reforms Amid Infrastructure Decay

The new Aviation and Aerospace Development Minister, Festus Keyamo, vows to overhaul the aviation sector while stakeholders demand improvement of airport infrastructure, write LILIAN UKAGWU and FUNMI FABUNMI During the final phase of the tenure of former Minister of Aviation, Hadi Seriki, his administration became entangled in… Read More

Federal Government, State Governments, Local Governments Share N4.37tn In Six Months – NEITI

The three tiers of government, federal, states and Local Government Areas, shared a total of N4.37tn from the Federation Account as statutory revenue allocations between January and June 2023, the Nigeria Extractive Industries Transparency Initiative said on Thursday. It disclosed this in its latest report on the Federation Account revenue… Read More

SUN

Nigeria-Japan Annual Trade Now Stands At N7.6trn

The annual trade volume of Nigeria and Japan now stands at about N7.6 trillion ($10 billion). The Japanese Ambassador and Permanent Representative to ECOWAS, Mr. Matsunaga Kazuyoshi, made this disclosure when he played host to the Managing Director of the Nigerian Ports Authority (NPA), Mr. Mohammed Bello-Koko, and his… Read More

POLITICAL HEADLIINES

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Fear Of Coups: AU Suspends Gabon As Cameroon, Rwanda Retire Generals, 1,000 Soldiers

The African Union’s Peace and Security Council on Thursday suspended Gabon following the Wednesday overthrow of President Ondimba Ali Bongo by soldiers led by the head of the Republican guards, Gen Brice Nguema. The continental body in a post on X, formerly Twitter, condemned the military takeover of power in the Central African… Read More

VANGUARD

Hardship: With Patience, Determination, We Will Succeed – Tinubu

As Nigerians continue to witness economic hardship occasioned by the removal of fuel subsidy, President Bola Tinubu on Thursday assured that with patience and determination, he will succeed. The President said the “bitter pill” must be administered to an ailing nation and economy to build a better future for the country. Speaking with members… Read More

TECHNOLOGY HEADLINES

PUNCH

ACAMB Advises Institutions On Digitalisation

The President, Association of Corporate Affairs Managers of Banks, Rasheed Bolarinwa, urged traditional institutions to raise their capacity in technology to compete in the digital space. He spoke at the association’s second National Stakeholder Conference in Lagos with the theme, ‘Marketing financial services in dynamic times’. Bolarinwa said… Read More