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FCMB appoints executive director

16.01.2025
First City Monument Bank has announced the appointment of Felicia Obozuwa as the Executive Director of Corporate Services and Service Management, following approval from the Central Bank of Nigeria. In a statement made available to The PUNCH on Wednesday, it was indicated that Obozuwa brings nearly three decades of experience to her new appointment. “Her...
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Equity market posts N930bn loss

16.01.2025
At the close of Wednesday’s trading session on the Nigerian Stock Exchange, the equity market experienced a decline, losing N930.62bn, which marks the third consecutive loss in the market. On Tuesday, the Nigerian Stock Exchange witnessed a bearish performance at the close of trading, with the market capitalisation declining by N1.06tn, marking a drop in...
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Shallow structure stifling market growth – Proshare

16.01.2025
Analysts at Proshare have raised concerns about the shallow structure and limited breadth of Nigeria’s capital market, warning that these factors continue to hinder its growth and potential to drive economic development. According to a report on Wednesday titled ‘Nigeria’s Capital Market Outlook 2025: The Capital Market and the Quest for a $1 trn Economy,’...
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17 companies grow market cap to N11tn

16.01.2025
A total of 17 companies across various sectors have achieved a combined market capitalisation of approximately N11.22tn on the Nigerian Stock Exchange, with contributions from leading players in the consumer goods, food, and personal household products sectors. Golden Guinea Brewery PLC reported a market capitalisation of N8.85bn, with a share price of N8.64, holding steady...
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34.8% inflation rate triggers fears of rising prices, hardship

16.01.2025
The Organised Private Sector has expressed worry over the continued hike in the inflation rate in Nigeria, stressing that this will further raise the cost of production, raw materials, logistics, and machinery, among others. On Wednesday the National Bureau of Statistics reported that Nigeria’s inflation rate rose to 34.80 per cent in December 2024, reflecting...
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REA to provide solar power for public institutions – MD

16.01.2025
The Rural Electrification Agency has identified the provision of solar-powered energy to public institutions as a key component of its agenda in the 2025 fiscal year. Managing Director of the agency, Abba Aliyu stated this on Wednesday shortly after making a presentation on REA’s 2024 budget performance and projections in the 2025 Appropriation Bill. Accompanied...
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Customs seized 397 vehicles in 2024 – CGC

16.01.2025
The Nigeria Customs Service said that it recorded 397 seizures of vehicles valued at N5.64bn in 2024, as it continued to enforce import regulations and protect government revenue. The Comptroller-General of Customs, Adewale Adenbiyi, disclosed this in Abuja on Tuesday during a press briefing on the service’s activities for 2024. According to him, “the service...
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NCS boss bags maritime personality award

16.01.2025
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has bagged the Iconic Maritime Personality of the Year 2024 award, which is organised by maritime journalists. This was contained in Tuesday’s release signed by the chairman and secretary of the Award Planning Committee, Dele Aderibigbe and Innocent Orok, respectively. Aderebigbe explained that the need for...
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2024 inflation exceeds CBN 21.40% target

16.01.2025
The rate of inflation at the end of December 2024 stood at 34.80 per cent which exceeded the 21.40 per cent that the Central Bank of Nigeria had set as a target for the year. According to the latest data from the National Bureau of Statistics released on Wednesday, the headline inflation rose by 2.44...
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NAICOM backs enforcement of third-party motor insurance

16.01.2025
The National Insurance Commission has expressed support for the decision of the Nigeria Police Force to commence enforcement of the third-party motor insurance policy from February 1. In a statement on Wednesday, the insurance industry regulator said the move would ensure compliance with Section 68 of the Insurance Act 2003. The Nigeria Police Force, in...
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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
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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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