Release Sowore Now, Gani Adams Tells Govt
The Aare Onakakanfo of Yorubaland, Gani Adams, yesterday called for the release of the presidential candidate of the African Action Congress and publisher of Sahara Reporters, Omoyele Sowore. He said Sowore’s arrest was an abuse of right to freedom and portended a grave danger to Nigeria’s democracy. Click here for more.
Nigerian Court Grants Shiite Leader Bail to Seek Medical Help
A Nigerian court granted bail to the leader of a Shiite group whose arrest four years ago sparked protests in which dozens of people have died. The High Court in the northern city of Kaduna said Ibrahim el-Zakzaky, the leader of the Islamic Movement of Nigeria, and his wife should be allowed to travel abroad to seek medical treatment. Click here for more.
Audit reform bill will block N200bn treasury loot
The signing of the Audit Reform Bill has the capacity to block an annual theft of over N200bn from the national treasury, a civil society organisation, Centre for Social Justice, has said. Click here for more.
Fuel Import To End In 2023, Says Kyari
Kyari spoke on Monday in Lagos as guest of honour at the ongoing 2019 conference and exhibition of the Society of Petroleum Engineers (SPE) Nigeria Council. The theme was: Artificial Intelligence, Big Data and Mobile Technology, Changing the Future of the Energy Industry. Click here for more.
Oil Price Falls Below $60 Budget Benchmark
The international oil benchmark, Brent crude, extended its decline on Monday, trading below Nigeria’s $60 per barrel budget benchmark. Brent, against which Nigerian crude oil is priced, dipped by $2.10 to settle at $59.79 per barrel as of 7.45pm Nigerian time. Click here for more.
Investors Gain N18.97bn As NSEASI Inches Up By 0.14% To Open The Week Positive
Equities market closed yesterday on a positive note, as NSEASI appreciated by +0.14% to close at 27,669.38 points as against 0.43% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -11.97%. Click here for more.
CBN orders banks to obtain customers’ credit history
The Central Bank of Nigeria has ordered the lending institutions under its regulation to obtain the credit history of customers before giving out loans to them. Click here for more.
MfBs’ Bad Loans Drop By 5.3% To N25bn – NDIC
The Nigerian Deposit Insurance Corporation, NDIC, disclosed this in its 2018 annual report, which also revealed 14.7 percent increase in total deposits of the industry to 191.41 billion in 2018 from 166.88 billion in 2017. Click here for more.
The Dollar, the Euro, the Yen and Now the West African Eco
Nigerian trade consultant Bamidele Ayemibo says it’s easier to sell his bean cake snacks to China than to neighboring Benin. Trading with any of the other members of the Economic Community of West African States requires him to find expensive money changers to convert local currencies, adding to costs that are already high due to dilapidated roads. Click here for more.
Experts task brokers to embrace technology tools for growths
The Nigerian Council of Registered Insurance Brokers (NCRIB) has been urged to deploy technology drive penetration in the Nigerian insurance market. This was disclosed at the 2019 Mid-Year Workshop of the Lagos Area Committee of brokers and other stakeholders in the industry in conjunction with global tech giants, Microsoft Nigeria in Lagos. Click here for more.
Power transmission weak despite TCN’s $1.63bn intervention – Gencos
The transmission of electricity across the country is still weak despite the interventions and claim by the Transmission Company of Nigeria that it currently has capacity to wheel over 8,000 megawatts of power, the Association of Power Generation Companies, has said. Click here for more.