The Nigerian Exchange (NGX) trading activities opened weakly on Monday, resulting in a loss of N90 billion to investors, as bears took over the control of the local bourse. As expected, the All-share Index (ASI) depreciated by 0.31% to close at 52,348.82 points. But then, Market Capitalization grew by N253 billion to close at N28.512 […]
…..lowest rate in 11 months The National Bureau of Statistics (NBS) on Monday reported that the nation’s Consumer Price Index (CPI), which measures general price level in the economy, eased to 21.34% in December 2022, down from 21.47% recorded in the preceding month. The latest rate, which represents a 0.12% points lower than the […]
The Centre for the Promotion of Private Enterprise (CPPE) has flawed the provisions of the Finance Bill 2022 now undergoing review in terms of the proposed hike in tax rates in almost all sectors of the economy and advised the fiscal authorities to have a re-think on the provisions. The Centre strongly canvassed for the […]
The Managing Director of Skyway Aviation Handling Company (SAHCO) Plc, Mr. Basil Agboarumi, has appealed to the Federal Government to grant duty waiver on operational equipment for ground handling companies in the nation’s airports. Agboarumi made this plea when he hosted the leadership of the Capital Market Correspondents Association of Nigeria (CAMCAN) during a courtesy […]
The Nigeria Customs Service (NCS), Onne Area ll Command has reported that it generated N242 billion revenue in year 2022, up from the N188.7 billion it raked into Federation Accounts in the preceding year. The Customs Area Controller, Auwal Mohammed, who gave these figures in a statement issued at the weekend, linked the improved performance […]
The Naira on Monday sustained its exchange rate value against the US dollar at the parallel market, trading at an average of N735/$1 in the noon hours, the same value it had traded in the last three trading sessions. Some of the black market dealers linked the sustained rebound of the local currency to more […]
The Nigeria Inter-Bank Settlement System (NIBSS) has reported that bank customers transferred a total of N19.4 trillion over mobile devices last year, representing a 142% surge year-on-year (Y-o-Y) when compared to the N8 trillion mobile transactions in the preceding year. The agency also disclosed that the volume of mobile inter-scheme transactions rose by 151% year-on-year […]
Bulls sustained their grip on Nigeria’s equities market trading session on Friday thereby boosting the market capitalization by N253 billion at the close of the day. The All-share Index (ASI) appreciated by 0.89% to close at 52,512.48 points while the market capitalization closed at N28.602 trillion and the Year-to-Date (Y-t-D) returns settled at 2.46%. Since […]
The Deputy President of the Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s organized private sector (OPS) advocacy groups, Mr. Gabriel Idahosa, has projected Nigeria’s agricultural sector could record 5%-6% growth in 2023 if the issues of insecurity and infrastructure are addressed by the government Idahosa, who made this forecast when he featured […]
The Bank of Industry (BOI) on Friday updated the public on the implementation and disbursement of grants under the Nigeria COVID-19 Action Recovery and Economic Stimulus Programme (NG-CARES). The bank stated that the clarification became imperative in view of the numerous public enquiries on the NG-CARES as they related to eligibility criteria and processing of […]