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Chukwu advocates deployment of tech in offer verification

11.12.2024
The Group Managing Director of Cowry Assets Management Limited, Johnson Chukwu, has urged the Central Bank of Nigeria to deploy available technology and Bank Verification Numbers to speed up the process of verifying offers in the ongoing recapitalisation exercise. Chukwu made the call on Saturday at the yearly workshop of the Capital Market Correspondents Association...
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Senate, NADDC task automakers on backward integration

11.12.2024
The National Assembly and the National Automotive Design and Development Council have urged automotive companies to deepen backward integration to spur economic growth. On Monday, the Senate Committee on Industry noted the companies’ challenges at an oversight visit to Dangote Sinotruk West Africa Limited, Wandel International Ltd (Simba Motorcycle Assembly Plant), and Nord Automobiles Ltd,...
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Equity market reverses gain with N63bn loss

11.12.2024
The Nigerian equity market ended the first trading day of the week on a downward note, reversing recent gains with an N63bn loss. At the close of trading on Monday, the Nigerian Stock Exchange recorded a decline in its market capitalisation, dropping from N59.53tn to N59.47tn. Also, the benchmark All-Share Index shed 103.23 points, closing...
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2025 budget: Senate threatens non-performing agencies

11.12.2024
The Senate, through its Finance Committee, has issued a stern warning to government agencies, threatening zero allocation in the 2025 budget for those failing to appear before it to account for funds allocated in the 2024 fiscal year. During its session on Monday, the committee expressed dissatisfaction with irregularities discovered in the financial records of...
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Loans to government hit N42tn – CBN

11.12.2024
Data from the Central Bank of Nigeria has shown that credit to the public has expanded at a faster rate than credit to the private sector in the past year. According to the Money and Credit Statistics data obtained from the CBN’s website, credit to the government stood at N42.02tn as of September 2024, compared...
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South-East, S’South airfares jump to N287,800

10.12.2024
A few domestic airlines have increased airfares to the South-South and South-East regions of Nigeria by over 100 per cent, as some one-way tickets from December 18, 2024, sell for about N287,000. Usually during the yuletide rush, airfares are mostly raised due to the high demand for tickets. But this season, passengers say prices of...
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Dangote Sugar targets N50bn in new debt issue

10.12.2024
Dangote Sugar Refinery Plc has launched an offering to raise N50bn from debt capital market investors through the issuance of Series 6 and Series 7 commercial papers under its N150bn debt programme. According to Market Watch, the Series 6 commercial paper, which has a 180-day tenor, is being offered with a 24.9889 per cent discount...
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115 legislations hindering Nigeria’s capacity to grow – NESG

10.12.2024
The Nigeria Economic Summit Group has said that 115 opaque legislations impede the country’s economic growth, calling for urgent reforms to strengthen Nigeria’s economic framework. The Chief Executive Officer of NESG, Dr Tayo Aduloju, made this statement during a media briefing over the weekend in Abuja, revealing the group’s concerns over the legislative barriers affecting...
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MRS Oil eyes N129.36bn revenue

10.12.2024
MRS Oil Nigeria Plc has projected a revenue of N129.36bn for the first quarter of 2025, as revealed in its latest financial forecast. In a corporate notice filed on the Exchange on Monday by its Chief Finance Officer, Muideen Salami The company anticipates a gross profit of N4.81bn, with cost of sales amounting to N124.54bn....
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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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