IGP to prosecute ex-personnel who ‘hijacked’ truck carrying 40,000 litres of petrol in Enugu
The Nigeria Police Force has announced the impending prosecution of three former officers involved in hijacking a truck loaded with…
Day: July 8, 2024
Samsung Electronics workers strike as union voice grows in South Korea
Samsung Electronics workers initiated a three-day strike on Monday, demanding better pay, an additional day of annual leave, and changes…
Pension funds crossed N20tn in May – PenCom
The value of pension funds in Nigeria rose by 2.23% month-on-month, reaching N20.23tn in May 2024. According to the National…
Budget: FG releases N1.2tn for capital projects
The Federal Government disbursed N1.23tn to 17 ministries for capital projects as of September 30, 2023, as per the Budget…
NEM’s shareholders approve N3.0bn dividend
At the Annual General Meeting, shareholders of NEM Insurance Plc approved a N3 billion dividend for the fiscal year ending…
Access Holdings’ N351bn Rights Issue opens for subscription
Access Holdings Plc has announced the commencement of its N351 billion Rights Issue, part of a larger Capital Raising Programme…
Why CBN insists on another recapitalisation — Cardoso
The Central Bank of Nigeria (CBN) emphasized that further bank capitalisation is crucial for the nation’s economic stability. CBN Governor…
Foreign investments in manufacturing down 57.4% to N192bn in Q1’24
The harsh business environment in Nigeria led to a 57.36% decline in foreign investments in the manufacturing sector, falling to…
Brewing industry choking over high cost of raw materials
The Nigerian brewery industry is grappling with severe cost pressures as prices for local raw materials such as sorghum and…
Only 1.3% Of Informal Businesses Make N2.5m Profit – Report
The 2024 Informal Economy Report, compiled by Moniepoint, reveals that a mere 1.3% of Nigerian informal businesses make over N2.5…
FG Exempts GenCos, DisCos, Others From Withholding Tax
The federal government has exempted all electricity companies, including Generation and Distribution Companies (GenCos and DisCos), from paying Withholding Tax,…
Banks’ weekly borrowing from CBN jumps to N5.38trn on liquidity demand
The recent data from the Central Bank of Nigeria (CBN) reveals a significant increase in borrowing by Deposit Money Banks…
Oil slips as Gaza talks ease supply disruption woes; Hurricane Beryl in focus
Oil prices dropped on Monday after four weeks of gains due to potential progress in Gaza ceasefire talks, reducing Middle…
US, Australia commit to better Pacific banking as China influence grows
U.S. and Australian officials reaffirmed their commitment to improving financial connectivity in the Pacific as regional lenders and policymakers gathered…
Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle…