archiveJuly 23, 2019

The Nigerian equities market halted its losing streak on Tuesday as the benchmark index advanced by 1.21 per cent to close at 28,144.87 points, following bargain hunting across bellwether stocks --MTNN, DANGCEM and NESTLE. Consequently, the Month-to-Date and Year-to-Date losses moderated to 6.08 per cent and 10.45 per cent respectively....

Capital market operators on Tuesday said that restoration of Value Added Tax (VAT) on capital market transactions would discourage investors from the market and weaken financial inclusion drive of the Federal Government. The operators, while speaking with the News Agency of Nigeria (NAN) in Lagos, were reacting to government’s plan...

An economist, Dr Ifediora Amobi says recapitalisation of banks has become imperative in order to strengthen the banking sector to tackle challenges of critical national infrastructure. Amobi, a former Senior Special Assistant to the President on National Development Matters, said this in an interview with the News Agency of Nigeria...

  The United Nations (UN) said on Tuesday that only 33 per cent of its 848 million dollar humanitarian response plan for Nigeria in 2019 had been funded. UN spokesman Mr Farhan Haq disclosed this while briefing correspondents at the organisation’s headquarters in New York. News Agency of Nigeria (NAN)...

  The Oyo State House of Assembly has approved the N10billion loan request of Gov. Seyi Makinde to improve infrastructure in the state. The request was sent to the House through a letter read by the Clerk of the House, Ms Felicia Oyediran. The loan to be obtained from First...

  Mr Tope Fasua, an Economic Expert, says retention of Monetary Policy Rate (MPR) at 13.5 per cent by the Central Bank of Nigeria (CBN) was expected. Fasua said this while reacting to the outcome of Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The News Agency of Nigeria...

A founding member of Arewa Consultative Forum (ACF), Tanko Yakasai, has said that there are fantastically corrupt persons in President Muhammadu Buhari’s ministerial list. Buhari, on Tuesday, sent a list of 43 ministerial nominees to the Senate for confirmation. Speaking on the ministerial list in Kano on Tuesday, Yakasai said...

  Drums support for community policing   In continuation of the series of consultations with a number of leading traditional rulers in different states to help bolster security architecture in local communities and effectively tackle security challenges around the country, Vice President Yemi Osinbajo, SAN, met with traditional rulers in...

Debt Management Office (DMO) of Nigeria on Tuesday listed on The Nigerian Stock Exchange, the second ₦100bn, 7-Year, FGN Sukuk due to mature in 2025. The Sukuk was raised at a rental rate of 15.743 per cent a 73-basis point discount from the 16.47 per cent rental rate of the...

The Nigerian National Petroleum Corporation (NNPC) says it has signed a 3.15 billion dollars Financing and Technical Services Agreement between Sterling Oil Exploration and other partners for the development of Oil Mining Lease (OML) 13. The corporation disclosed this in a statement signed by Mr Ndu Ughamadu, its Group General...