No date yet for border reopening – FG
The Federal Government has yet to decide a terminal date when the country’s border will be reopened to neighbouring countries. The Federal Government had in August closed its borders to neighbouring countries in an exercise code-named operation Exercise Swift Response. Click here for more.
Rising food prices signal bleak Christmas for Nigerians
From vegetables to rice and other key staple foods, rising prices across major cities in Nigeria are choking consumers, signalling what may be one of the bleakest Christmas celebrations in recent years. Prices of all food items have soared by more than 20 percent in recent months. Click here for more.
ECOWAS endorses Adesina for second term at AfDB
The Economic Community of West African States has endorsed the candidacy of African Development Bank President, Akinwumi Adesina, for a second term in office. The decision was taken at the 56th ordinary session of the Authority of Heads of State and Government of ECOWAS held in Abuja on Saturday. Click here for more.
FG’s Revenue Dipped By N388bn In November – CBN
Part of the CBN’s report on ‘Monthly economic report for the month of November’, read, “At N858.92bn, the estimated federally-collected revenue (gross) in November 2019 fell below both the monthly budget estimate of N1.24tn. Click here for more.
Investors Lose N28.05bn As NSEASI Dips By -1.55% To Open The Week Negative
Equities market closed today on a negative note, as NSEASI depreciated by -1.55% to close at 26,115.80 points as against -0.22% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.91%. Click here for more.
Capital market has opened many securities options for stockbrokers
With the Lagos Commodities and Futures Exchange (LCFE) expected to commence operations soon, as a pan-African Exchange among others, the Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Patrick Ezeagu has said the capital market has opened up multiple options for securities dealers in Nigeria. Click here for more.
CBN issues banks new guidelines, fines over customers’ complaint
The Central Bank of Nigeria (CBN) has issued a warning to banks regarding customer complaints. The CBN, in a recent guideline, said banks would be fined N2 million if they failed to acknowledge complaints from depositors. Click here for more.
Banks’ non-interest income may come under pressure on new ‘guide to charges’ – Analysts
Nigerian banks’ revenue from other sources could come under pressure next year given a recent directive reviewing downward their charges on customers, analysts have said. The analysts said the move could dampen capital-raising activities and impact banks’ fee-based income. Click here for more.
11 Plc acquires Lagos hotel from AMCON
11 Plc, formerly known as Mobil Oil Nigeria Plc, says it has finalised discussions with the Asset Management Company of Nigeria to acquire the Lagos Continental Hotel. The company said in a statement filed at the Nigerian Stock Exchange on Monday that the acquisition was subject to terms and conditions between both parties. Click here for more.
NCC Licenses 10 New VAS Operators As Market Hits $200 Million
Operations of the Value Added Service (VAS) providers were enlarged in 2019, following the licensing of 10 new aggregators by the Nigerian Communications Commission (NCC). Click here for more.
Fresh Electricity Workers’ Strike Looms as Unions’ Dispute Deepens
Nigeria may experience another round of electricity blackout with the deterioration of trade union relationship between workers in the Transmission Company of Nigeria (TCN). Click here for more.