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Banks owe MTN N40 billion as digital revenue climbs by 101%

Banks owe MTN N40 billion as digital revenue climbs by 101%

MTN Nigeria has said that banks are indebted to it to the tune of N40.3 billion as of the end of first quarter 2021 on the account of unstructured supplementary service data (USSD). MTN informed that its digital revenue grew ...

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Modular refineries: Revoke, re-issue licences, Reps urge NNPC

Modular refineries: Revoke, re-issue licences, Reps urge NNPC

The House of Representatives has urged the Nigerian National Petroleum Corporation to review the status of the licences issued to indigenous companies to run modular refineries. It asked the corporation to revoke and re-issue them to competent and reliable operators. ...

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Naira abusers risk six months jail, CBN warns

Naira abusers risk six months jail, CBN warns

The Central Bank of Nigeria (CBN) has cautioned the public against abuse of the country’s currency, describing naira as pride of the nation. Speaking at the CBN Fair at Dora Akunyili Women Development Centre, Awka, Anambra State, yesterday, the Principal ...

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ACF, Ohanaeze, PDP slam Buhari as Presidency alleges coup plot

ACF, Ohanaeze, PDP slam Buhari as Presidency alleges coup plot

The Peoples Democratic Party, the Arewa Consultative Forum, the Pan- Niger Delta Forum and the Yoruba sociopolitical group, Afenifere, on Tuesday took a swipe at the Presidency over an allegation that some leaders were plotting to overthrow the President, Major ...

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Labour kicks as NERC insists on power tariff review

Labour kicks as NERC insists on power tariff review

The Nigerian Electricity Regulatory Commission is going ahead with plans to review power tariffs in July this year despite widespread resentments by the organised labour, consumer groups and other individuals. NERC had announced on April 26, 2021 that another tariff ...

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Firm receives $60m Chinese loan for Lekki sea port

Firm receives $60m Chinese loan for Lekki sea port

The Lekki Port LFTZ Enterprise Limited says it has received the sum of $60m, which is the first instalment of the $629m loan facility from China Development Bank for the construction of the deepest sea port in Sub-Sahara Africa. The ...

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Foreign investment in Nigerian stocks falls to N60.11bn

Foreign investment in Nigerian stocks falls to N60.11bn

Foreign portfolio investment in the Nigerian stock market dropped by eight per cent in the first quarter of 2021 to N60.11bn from N65.27bn in the same period of 2020. Foreign investors injected N16.73bn into the stock market in January; N23.02bn ...

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External reserves lost $350m in two weeks, says CBN

External reserves lost $350m in two weeks, says CBN

The country’s external reserves lost $350m in two weeks, falling to $34.9bn on April 29 from a high of $35.25bn as of April 16. Figures obtained from the Central Bank of Nigeria on Monday revealed that the reserves, which had ...

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Bitcoin loses market share

Bitcoin loses market share

Ethereum is giving Bitcoin, the world’s most popular cryptocurrency, a hard chase in the crypto market. Ethereum is now valued at $3,000 and makes up 15 per cent of the crypto market, according to tracker CoinGecko. Bitcoin is valued above ...

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Review export proceeds repatriation policy, LCCI tells CBN

Review export proceeds repatriation policy, LCCI tells CBN

It has become imperative for the Central Bank of Nigeria to review its policy on repatriation of export proceeds, the Lagos Chamber of Commerce and Industry has said. Director-General of LCCI, Dr Muda Yusuf, said this at an interactive session ...

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NCAA lifts Azman Air suspension after six weeks

NCAA lifts Azman Air suspension after six weeks

The Nigerian Civil Aviation Authority has lifted the suspension it placed on Azman Air on March 15 following series of incidents involving the airline’s Boeing 737 aircraft. Azman announced on Sunday that the lifting of the suspension was confirmed in ...

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Customs command increases Q1 revenue collection to N7.97bn

Customs command increases Q1 revenue collection to N7.97bn

The Kirikiri Lighter Terminal Command of the Nigeria Customs Service has said its revenue collection rose by 36.8 per cent to N7.97bn in the first quarter of this year. The Comptroller of the command, Mr Hammi Swomen, disclosed this at ...

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Sugar War : Why Dangote, Flour Mills Fight BUA Group

Sugar War : Why Dangote, Flour Mills Fight BUA Group

.  Dangote Refinery To Pay N120bn Customs Duty On PMS ·  Stakeholders kick against monopoly ·  Cabotage: Foreign ships enjoy over 90% NNPC oil supply jobs By Kenneth Jukpor As the actual reason Alhaji Aliko Dangote is leading the Nigerian ...

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Arms Proliferation And Governance Failure

Arms Proliferation And Governance Failure

The preponderance of illegal arms milling around the country at the alarming proportion being witnessed is frightening. Nigerians should be worried that such arms are fuelling the daring spate of well-coordinated attacks on police and military commands, which is a ...

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ECONOMY: NERC to Consider Changes in Inflation, Exchange Rate & Gas Prices as it Reviews Tariff…

ECONOMY: FG Considers Reduction of Costs, Merge MDAs amid Shortfall in Revenue…

CWR, Cowry Weekly Financial Market Review Outlook Friday, April 30, 2021

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Ajilistic Ajila

Ajilistic Ajila

OluwaSeun Ajila is a corporate leader and currently serves on the Executive Management of Linkage Assurance plc as the Chief Internal Auditor. A Financial and Management expert with broad experience spanning across Real Estate, Financial Services, Professional Services & Management ...

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Nigerian Seaports Were Concessioned To Wrong Port Operators – Nweke

Nigerian Seaports Were Concessioned To Wrong Port Operators - Nweke

By Kenneth Jukpor & Yusuf Odejobi Dr. Eugene Nweke is a former President, National Association of Government Approved Freight Forwarders (NAGAFF). In this exclusive interview with MMS Plus newspaper, he bares his mind on a myriad of port sector issues ...

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BULLS: Anambra unveils new International Airport

BULLS: Anambra unveils new International Airport

The Anambra International Cargo and Passenger Airport in Umueri community, Anambra East local government area was recently inaugurated by the state governor, Chief Willie Obiano. Obiano recalled that the journey by the people of Anambra to own an airport began ...

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BEARS: 494 Nigerian illegal migrants

BEARS: 494 Nigerian illegal migrants

The Assistant Superintendent of Police (ASP), David Fianko-Okyere announced that 494 Nigerians have been handed over to the Ghana Immigration Service for deportation after entering the country illegally. According to him, the arrest came as a result of intelligence gathering ...

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How Vehicle Log Book Could Breed Congestion, Corruption At Ports

How Vehicle Log Book Could Breed Congestion, Corruption At Ports

By Yusuf Odejobi Information technology has become an essential part of the rapid and accurate transfer and processing of enormous volumes of data processed across several sectors; from banking to aviation, education to politics, and the maritime sector isn’t an ...

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