ASSETS & FINANCIALS

Jonny Baxter, British Deputy High Commissioner in Lagos, during an interview with the News Agency of Nigeria in Lagos, on Thursday, Aug. 31, 2023. Atelly emerges as NBCC president The British deputy high commissioner to Nigeria, Jonny Baxter, said the United …

The National Bureau of Statistics (NBS) says the country’s Gross Domestic Product (GDP) grew by 2.54 percent in the third quarter (Q3) of 2023.  The growth rate according to the NBS  is higher than the 2.25 percent recorded in the same quarter …

Minister of Agriculture, Abubakar Kyari The Federal Government has approved a 50 per cent reduction in the cost of agricultural inputs for farmers, aligning with the commencement of dry season farming scheduled for November 25, 2023. A statement issued by …

Rising inflation and low economic growth in Nigeria will push a further 2.8 million people into poverty by 2023’s end, the World Bank has disclosed. This is based on a report titled, ‘Macro Poverty Outlook: Country-by-country Analysis and Projections for …

The chairman, Federal Inland Revenue Service, Zacch Adedeji, has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations. Adedeji gave the charge in Lagos at a workshop on taxation …

Smuggled rice Rice consumption in the country has been on a steady rise, beyond the reach of local supply, leading to a supply gap of about two million metric tonnes annually, a new report has disclosed. This has led to …

NGX Regulations Limited, the regulatory arm of the Nigerian Exchange Group, has said that stock market literacy has the ability to secure women’s financial future. This was revealed at the launch of its ‘EquipHER’ initiative at its headquarters in Lagos. …

No fewer than 222,141 workers have changed their Pension Fund Administrators and moved N908.363bn from their Retirement Savings Accounts since the National Pension Commission opened the window of transfer. PenCom disclosed this in its transfers report on ‘Quarterly summary of …

The Central Bank of Nigeria said that its monetary policy reforms are beginning to have positive effects on the country’s economy.  Reacting to the just-released inflation rate for October in a statement issued by the Director of the Corporate Communications …

The Federal Government has linked the country’s foreign exchange scarcity to its low export earnings. Speaking at the 40th annual Conference of the Chartered Institute of Directors on Thursday, in Abuja, the Minister of Finance and Coordinating Minister of Economy, …

Banks now owe telecommunication firms N200bn for Unstructured Supplementary Service Data services. This is following a slowing of negotiations between the banks and telcos. Telecom operators disclosed this on Thursday at the Nigerian Communications Commission industry interactive session with the …

The World Bank has commenced payment of the $800m approved for the National Social Safety Net Program-Scale Up. Media on Wednesday learnt that the bank has disbursed about $299.99 million to Nigeria under the National Social Safety Net Programme-Scale Up approved …

MTN Nigeria is in talks with 9mobile to acquire its operating spectrum. The spectrum trade deal between Emerging Markets Telecommunication Services Limited and MTN Nigeria is still an ongoing conversation, according to sources close to the matter. A source told media …

The Central Bank of Nigeria has announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely. This is as the apex bank declared its desire to extend the validity of old naira notes beyond …

The government has made a N713.1bn revenue windfall from the devaluation of the naira, an analysis of the government’s earnings has shown. The devaluation of the naira in June was meant to boost the country’s foreign exchange earnings and revenue …

The naira crashed against the dollar on Monday, falling to 1, 030/$ on the average in the parallel market, losing the momentum it gathered last week. This represents a N80 loss or a 8.42 per cent decline of the local …

Trading Floor of NSE Transactions on the Nigerian Exchange (NGX) closed trading on Wednesday, November 1st, 2023, in the positive territory as the All-Share Index appreciated by 1.94% to cross 70,000 index points.   The equities market gained 1.94% as the …

A US multinational financial services firm, JP Morgan, on Wednesday projected that the naira would trade at N850/$ at the Investors’ and Exporters’ Forex window before the end of 2023. However, the US bank said the recent efforts to restore …

The naira exchanged at 1,185/$ on Wednesday at the parallel market, as liquidity challenge persisted, according to some Bureau de Change Operators. Some BDC operators who spoke to The PUNCH, said this was a slight improvement from 1,190/$ traded on Tuesday, …

Dr Betta Edu The House of Representatives, yesterday, resolved to invite Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, over modalities adopted in the distribution of N25,000 monthly to 15 million households in 90 days. The resolution was …