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Naira drops to 1690.37/$ as dollar supply falls

20.11.2024
The naira weakened by 2.31 per cent or N38.12 on Monday at the National Autonomous Foreign Exchange Market to N1690.37/$ compared to 1652.25/$ that it had closed the previous week at. According to FMDQ data on Monday, the daily turnover stood at $173.14m, indicating a 42 per cent decline from $296.63m on Friday. At the...
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Tackle market distortions by government agencies, UK tells Nigeria

20.11.2024
The United Kingdom has urged Nigeria to expedite its economic reforms by addressing market-distorting practices linked to state-owned enterprises, which it says hinder trade and investment. This call was made by Simon Manley, the UK’s Permanent Representative to the World Trade Organisation, during Nigeria’s Trade Policy Review in Geneva on Monday. Manley praised Nigeria for...
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Nigeria’s debt to IDA hits $17bn – Report

20.11.2024
Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association, with its exposure climbing to $17.1bn as of September 30, 2024. According to the World Bank’s latest financial statements for the fiscal year up to September 2024, Nigeria’s debt to the IDA rose by $600m in three months from...
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Barge operators handled four million containers – Official

20.11.2024
The President of the Barge Operators Association of Nigeria, Mr Olubunmi Olumekun, has stated that between 2019 to date, the group has employed 26,000 persons and handled over four million twenty-foot equivalent containers across Nigeria’s waterways. Olumekun disclosed that the containers handled within the period under review include imports, exports, and other cargo entries adding...
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Aig-Imoukhuede Foundation seeks nominations to transform PHCs

20.11.2024
A philanthropic non-profit organisation, Aig-Imoukhuede Foundation, has announced a nationwide call for nominations to revitalise primary healthcare centres as part of the Adopt-A-Healthcare-Facility Programme. A statement from the foundation recently said that the initiative was facilitated by the Private Sector Health Alliance of Nigeria. The ADHFP is a public-private partnership that empowers individuals and organisations...
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PenOp decries delay in accrued rights payment

20.11.2024
The Pension Fund Operators Association of Nigeria has raised concerns over the Federal Government’s delay in paying accrued pension rights, which have been outstanding for 18 months. The Chief Executive Officer of PenOp, Oguche Agudah, disclosed this during an interview on The Morning Show on Arise News TV on Monday. Agudah explained that accrued rights...
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Customer deposits in eight banks hit N85tn in Q3

20.11.2024
Customer deposits in eight Deposit Money Banks reached N85.58tn in the third quarter of 2024, a 12.2 per cent increase from the N76.26tn recorded in the same period in 2023. This was disclosed in the Unaudited Interim Financial Statements for the period ended September 30 of the banks filed with the Nigerian Exchange Limited recently....
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2025 budget lesser in value, economists say

20.11.2024
Economic analysts have indicated that while the nominal value of the 2025 budget has significantly increased, it has decreased by 18.25 per cent in dollar terms compared to the 2022 estimate. They stated this following the approval of the Medium-Term Expenditure Framework for 2025-2027 by the Federal Executive Council, which indicated a proposed budget of...
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Tinubu sacks PTAD boss

20.11.2024
President Bola Tinubu has relieved Dr Chioma Ejikeme of her duties, 13 months after she was reappointed for another four years in office as the Executive Secretary of the Pension Transitional Arrangement Directorate. In a statement issued on Monday by the Head of the Corporate Communications Unit of PTAD, Olugbenga Ajayi, the President announced that...
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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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