Nigeria News
Diya to get state burial – Gov Abiodun
Ogun State governor, Dapo Abiodun, on Monday, paid a condolence visit to the Lagos residence of the former Chief of General Staff and Military Governor of Ogun, General Oladipo Diya, disclosing that the late military top brass would be given a state burial by the state. Abiodun, who described his death as a great loss […]
781 arrested for electoral offences, 66 firearms recovered
The Nigeria Police Force, on Monday, said it recorded a total of 489 major electoral infractions during the February 25 presidential and March 18 governorship polls. The Inspector-General of Police, Usman Baba,made the disclosure on Monday during a meeting with senior police officers at the Goodluck Jonathan Peacekeeping Centre, Force Headquarters, Abuja. At the meeting […]
Politics
Lagos Assembly congratulates Tinubu, Sanwo-Olu
The Lagos State House of Assembly has congratulated President-elect Bola Tinubu and Governor Babajide Sanwo-Olu after victories at the presidential and governorship elections. The members also felicitated with their running mates Senator Kashim Shettima and Deputy Governor Obafemi Hamzat, as well as the Lagos Speaker, Mudashiru Obasa, who they described as a record breaker after […]
Business
N825bn Nigerian-bound cargoes trapped globally – Shippers
The Nigerian Shippers Association has said that 68 per cent of Nigerian-bound cargoes worth N825bn have been trapped at different ports around the world due to the ongoing cash crunch in Nigeria. A member of the Board of Trustees of NSA, Jonathan Nicol, in a telephone conversation with The PUNCH in Lagos on Monday, also […]
Stock market capitalisation declines by N622bn
Investors lost N622bn at the close of trading on Monday due to sell-offs of some telecoms and banking stocks. The market which opened with the All-Share Index at 54,892.53 lost 2.08 per cent to close 53, at 750.77. The market capitalisation also depreciated by 2.08 per cent to N29.281tn. In terms of volume, a total […]
Bank credit to govt hits N28.43tn
Banks’ credits to the government rose by N3.77tn in the first two months of 2023. Figures obtained from the Central Bank of Nigeria revealed that the total government credit which ended December 2022 at N24.66tn rose to N28.43tn as of the end of February 2023. The CBN disclosed in its ‘Money and credit statistics’ report […]
Reps invite ministers, firms over $2.4bn oil sale
The House of Representatives’ will on April 11, 2023, grill ministers and other heads of ministries, departments and agencies of the Federal Government as well as oil companies and banks over the alleged illegal sale of 48 million barrels of crude oil valued at $2.4bn. The House’ Ad Hoc Committee to Investigate Alleged Loss of […]
Airfares soar as foreign airlines hike exchange rate
International airfares on Nigerian routes have gone up further by over 20 per cent after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar, International travellers on Nigerian routes have been paying higher airfares after carriers blocked their inventory of cheaper tickets in order to cushion the […]
Oil & gas underwriting capacity now 36% – NAICOM
The oil and gas sector recorded 36 per cent premium retention in 2022 and ranked as the underwriting sector with the lowest premium retention in the country, according to the National Insurance Commission. NAICOM disclosed this in its ‘Bulletin of the insurance market performance’, a statistics department quarterly report of the insurance market for fourth […]
Stock investors record N13bn loss in one week
The Nigerian Exchange Limited closed lower last week as investors took stock of the hike in the Monetary Policy Rate by the Monetary Policy Committee of the Central Bank of Nigeria and continued with their profit-taking. At the end of the trading activities last week, the market capitalisation declined by N13bn. The All-Share Index closed […]
Review cashless policy, small business owners tell FG
Small business operators under the aegis of Micro, Small and Medium Scale Enterprises have asked the Central Bank of Nigeria to review its cashless policy to enhance business growth. The National Vice Chairman of the Nigerian Association of Small-Scale Industrialists, Segun Kuti-George, lamented the effect of the recent cash scarcity and stressed the need for […]
Maritime Consultant hails Tinubu, Sanwo-Olu’s election
–Says Maritime needs their synergy Maritime consultant and chief executive officer of Employment Clinic, Ronke Kosoko has congratulated the President Elect, Asiwaju Ahmed Bola Tinubu even as she raised optimism that his assumption of office will rally the needed support to transform the maritime industry. She also commended the Lagos State governor, Babajide Sanwo-Olu on […]
Access Bank Zambia acquires Atlas Mara
Access Holdings Plc has announced that Access Bank Zambia Limited, a subsidiary of its flagship subsidiary, Access Bank Plc, has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited (Atlas Mara Zambia) into its existing operations. A statement on Friday by the Company […]
Energy/Oil&Gas
Oil production now 1.6 million barrels daily – NNPCL
The Nigerian National Petroleum Company Limited, on Monday, said Nigeria’s oil production had increased to 1.6 million barrels per day, a few millions short of the 1.8 million barrels per day quota allocated to Nigeria by the Organisation of Petroleum Exporting Countries. NNPCL’s Group Chief Executive, Mele Kyari, revealed this at a meeting of industry […]
Opinion
Foundation of Emefiele’s Unorthodox Monetary Policy and the Fallacy of his Igbo Ethnic Identity Denial
By Dr Jona N. Ezikpe President Muhammad Buhari recently, directed the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele to continue with his job as the Governor of CBN, after he, Emefiele, must have been seen to have somehow shown interest in the All Progressives Congress (APC) primary. He predicated his decision on the […]
