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W’Bank bans two Nigerian firms, CEO over corruption

22.01.2025
The World Bank Group has announced the 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, alongside their Managing Director and Chief Executive Officer, Mr Norman Didam, for fraudulent, collusive, and corrupt practices linked to the National Social Safety Nets Project in Nigeria. In a statement issued on Monday, the World...
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CAPPA seeks N300m budget for tobacco control in Nigeria

22.01.2025
The Corporate Accountability and Public Participation Africa has called on the National Assembly to significantly increase the budgetary allocation for tobacco control in the 2025 national budget. The organisation disclosed this in a statement on Tuesday. It is advocating for the allocation to rise from the current N10m to N300m, arguing that this funding is...
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Consumer goods sector faces setback as market caps fall

22.01.2025
The Nigerian consumer goods sector is facing challenges as key stocks in beverages, food products, and household durables experience price decline, resulting in a drop in market capitalisation. In the beverages sector, Golden Guinea Breweries recorded no market cap and a stagnant price of N8.64, while Guinness Nigeria Plc’s price dropped by 35 per cent...
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CAC registers 100,000 POS operators

22.01.2025
The Registrar-General of the Corporate Affairs Commission, Hussaini Magaji, has disclosed that 100,000 Point of Sale operators have officially registered their businesses with the commission under its POS formalisation project. According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide. The Registrar General stated that...
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FG plans 21% ICT contribution to GDP

22.01.2025
The Minister of Communications, Innovations, and Digital Economy, Dr Bosun Tijani, has announced the Federal Government’s plans to raise the contribution of the Information and Communications Technology sector to Nigeria’s Gross Domestic Product to 21 per cent within the next two to three years. He made this disclosure on Monday at the Public Servant Training...
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Investors eye US stock market after Trump’s inauguration

21.01.2025
Investors will be closely monitoring the performance of U.S. stock market on Tuesday (today), following Donald Trump’s inauguration for his second term as president. Market participants are eager to see whether equities can continue their recent trend of gains after a presidential inauguration. Historically, the benchmark S&P 500 index has not performed strongly on average...
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John Holt records N2.47bn profit – Punch Newspapers

21.01.2025
John Holt Plc has reported a recovery in its financial performance for the year 2024, posting a profit after tax of N2.47bn, marking a 347 per cent increase compared to the loss of N1bn recorded in 2023. In the company’s financial statement for the year ended September 30, 2024, the company’s revenue for the period...
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NLC faults fresh petrol price hike, says FG insensitive

21.01.2025
•Labour fears hike will fuel food crisis •Increase in line with rising crude price –Dangote The Nigeria Labour Congress has frowned on the recent hike in the pump prices of Premium Motor Spirit, popularly called petrol, describing it as the height of insensitivity against the masses. Senior NLC officials disclosed this in separate interviews with...
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Equity market loses N1.45tn in one week

21.01.2025
The Nigerian equity market experienced a loss last week, shedding N1.45tn in market capitalisation. The All-Share Index fell by 2.94 per cent, closing the week at 102,353.68 points, while the market capitalisation also dropped by 2.26 per cent to N62.85tn. A total of 2.252 billion shares, valued at N58.83bn, were traded in 63,657 deals, a...
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BVN compulsory for RSA holders from Feb – PenCom

21.01.2025
The National Pension Commission has mandated the provision of Bank Verification Numbers for all Retirement Savings Account registration and data recapture processes effective February 1. A circular signed by the PenCom Head, Surveillance Department, A.M. Saleem, stated that the move would enhance the security and integrity of the pension industry database. The circular reads, “The...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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