Business

THE SENATE COMMITTEE ON AIR FORCE SAYS NIGERIA MAY LOSE THE $493MILLION PAID TO THE UNITED STATES FOR THE PURCHASE OF SUPER TUCANO FIGHTER PLANES. THE VICE-CHAIRMAN OF THE SENATE COMMITTEE ON AIR FORCE, MIKE NNACHI, STATED THIS WHEN HE PRESENTED THE 2021 BUDGET REPORT OF THE AIR FORCE BEFORE THE SENATE COMMITTEE ON APPROPRIATION. […]

THE MONETARY POLICY COMMITTEE (MPC) HAS RETAINED KEY LENDING RATES AT 11.5%. GOVERNOR OF THE CENTRAL BANK OF NIGERIA (CBN), GODWIN EMEFIELE, ANNOUNCED THIS  SAYING IT IS PART OF EFFORTS TO BOOST THE ECONOMY TOWARDS A SUSTAINABLE RECOVERY FROM THE RECESSION. THIS COMES DAYS AFTER A NEW REPORT RELEASED BY THE NIGERIA BUREAU OF STATISTICS, […]

THE NIGERIAN STOCK EXCHANGE REBOUNDED ON TUESDAY FROM A BULL RUN THAT DOMINATED TRADE FOR DAYS, SUPPORTED BY APPRECIATION IN BANK STOCKS, WITH N114.444 BILLION RISE IN MARKET CAPITALISATION OBLITERATING THE LOSS OF THE PREVIOUS SESSION. TUESDAY’S GAIN HINGED ON INVESTORS’ INTEREST IN THE SHARES OF STANBIC, UBA, ACCESS, FBN HOLDINGS AND UNION BANK. ACROSS […]

THE NATIONAL BUREAU OF STATISTICS (NBS) SAID ON TUESDAY THE PRICES OF SOME MAJOR SELECTED FOOD ITEMS INCREASED LAST MONTH. IN ITS REPORT ON FOOD PRICE WATCH FOR THE MONTH, NBS SAID THE PRICES OF COMMODITIES, INCLUDING EGGS, INCREASED DURING THE MONTH. ACCORDING TO THE BUREAU, THE AVERAGE PRICE OF 1KILOGRAMME OF TOMATO INCREASED YEAR-ON-YEAR […]

PROFIT-TAKING IN BANK STOCKS ON THE NIGERIAN STOCK EXCHANGE (NSE) COST INVESTORS N91.06 BILLION, PARTLY REVERSING THE GAIN REPORTED AT THURSDAY’S SESSION.  THE BANKING INDEX FARED WORST OF THE FIVE SECTORIAL INDICES, DECLINING BY 2.66% TO 418.39 BASIS POINTS. A NEGATIVE MARKET BREADTH WAS RECORDED WITH 28 LOSERS EMERGING AGAINST 19 GAINERS. THE ALL SHARE […]

THE NIGERIAN STOCK EXCHANGE (NSE) FOUND RESILIENCE ON WEDNESDAY AFTER THREE STRAIGHT TRADING DAYS OF LOSS AS SPECULATORS RENEWED INTEREST IN MAJOR INDUSTRIAL AND CONSUMER GOODS STOCKS. WEDNESDAY’S GAIN OF N300.548 BILLION ALSO RECEIVED SUPPORT FROM A GROWTH OF 2.98% TO 586.66 BASIS POINTS IN THE CONSUMER GOODS INDEX, MAKING IT THE BEST PERFORMER OF […]

THE NATIONAL PENSIONS COMMISSION (PENCOM) WILL TODAY MONDAY, NOVEMBER 16, 2020, COMMENCE IMPLEMENTATION OF THE RETIREMENT SAVINGS ACCOUNT (RSA) TRANSFER WINDOW UNDER THE CONTRIBUTORY PENSION SCHEME (CPS). HENCE, PENSIONERS WHO HAVE NOT HAD THE OPPORTUNITY TO CHANGE THEIR PENSION FUND ADMINISTRATORS (PFAS) AS A RESULT OF LOWER RETURNS ON INVESTMENT MANAGEMENT OR POOR CUSTOMER SERVICE […]

PRICES OF SOME MAJOR FOODSTUFF HAVE GONE UP BY OVER A 100 PER CENT IN MARKETS ACROSS THE COUNTRY, WITH STAKEHOLDERS EXPRESSING CONCERN OVER THE RELENTLESS INCREMENT. STAKEHOLDERS IN THE ZONE HAVE ALSO CALLED ON THE GOVERNMENT TO URGENTLY ADDRESS THE SITUATION BEFORE THINGS GET OUT OF HAND. MOST OF THE RESPONDENTS WHO SPOKE WITH […]

A LONDON HIGH COURT HAS ORDERED THE SUIT LITIGATION FILED BY THE NIGERIAN GOVERNMENT AGAINST UNITED STATES BANK JP MORGAN CHASE OVER THE BANK’S ROLE IN A DISPUTED 2011 OILFIELD CONTRACT TO GO AHEAD. THE SUIT WAS FILED IN THE ENGLISH COURT IN 2017 OVER THE ACQUISITION OF THE OFFSHORE OIL PRODUCTION LICENCE (OPL) 245 […]

EXPERTS HAVE CRITICISED THE IMPLEMENTATION OF THE NEW ELECTRICITY TARIFF STRUCTURE AND URGED THE FEDERAL GOVERNMENT TO ENSURE THAT ELECTRICITY CONSUMERS ARE METERED FIRST BEFORE THE COMMENCEMENT TO ELIMINATE OUTRAGEOUS BILLINGS. NIGERIANS HAD HEAVED A SIGH OF RELIEF WHEN THE NATIONAL MASS METERING PROGRAMME (NMMP), ANNOUNCED PLANS TO COMMENCE FREE DISTRIBUTION OF METERS BUT IT […]


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