Robert Mugabe, Zimbabwe’s Hero Who Turned Villain, Dies at 95

Robert Mugabe, who ruled Zimbabwe for 37 years and plunged the southern African nation into political and economic chaos as he violently clung to power, has died. He was 95. “It’s with the utmost sadness that I announce the passing” of Mugabe, Zimbabwe President Emmerson Mnangagwa said on Twitter. Click here for more.

FIRS Contributed 60% Of Federation Account Revenue

RMAFC – The Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission, Mr Elias Mbam, has said the Federal Inland Revenue Service contributed 59.7 per cent of revenues to the federation account in the last three months. Click here for more.

World Bank says Nigeria is living on borrowed time 

The World Bank has stated that Nigeria is living on borrowed time as it continues to make financially irresponsible decisions as regards food importation. The World Bank said this is affecting local farmers and increasing unemployment in the country. Click here for more.

Discos’ Power Supply Slumps To 2, 962MW

A report obtained Thursday from the System Operations (SO), a department of the Transmission Company of Nigeria (TCN) has shown that the level of electricity distribution by the 11 electricity distribution companies (Discos) in the country has significantly dropped to 2,962.82 megawatts (MW) or 46.73 per cent. Click here for more.

Marketers deny scarcity of aviation fuel amid rising demand, prices

Though there are indications that the demand for aviation fuel has risen by about 50 per cent in recent days as against supply, the Nigerian National Petroleum Corporation (NNPC), Major Oil Marketers Association of Nigeria (MOMAN) and the Depot and Petroleum Products Marketers Association (DAPMAN). Click here for more.

NSEASI Dips Further By -0.25% As Market Sentiment Remains Negative

Equities market closed yesterday on a negative note, as NSEASI depreciated by -0.25% to close at 27,319.64 points as against -0.97% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -13.29%. Click here for more.

NSE Reclassifies Oando Plc As Low Priced Stock

The Nigerian Stock Exchange (The NSE or The Exchange) is pleased to announce the reclassification of Oando Plc from Medium Priced Stock to Low Priced Stock effective Thursday, September 5, 2019. This is in compliance to Rule 15.29: Pricing Methodology, Rulebook of The Exchange, 2015 (Dealing Members’ Rules). Click here for more.

CBN Charges ABCON On Effective Self-Regulation, Market Intelligence

The Central Bank of Nigeria (CBN) has challenged the Association of Bureaux De Change Operators of Nigeria (ABCON) to evolve an effective self-regulation that would ensure full compliance of the operators. Click here for more.

Nigeria received $5.82 billion capital inflows in Q2 2019, down by -31.41%

Nigeria received $5.82 billion capital inflows in the second quarter (Q2) of 2019, compared to $8.48 billion in the first quarter (Q1). This is revealed in the latest capital importation data released by the National Bureau of Statistics (NBS). Click here for more.

Nigeria May Introduce Contracts to Manage Naira Risk for a Decade

Nigeria wants to offer naira futures of as long as 10 years to help cushion against foreign-exchange risks and attract longer-term funding to Africa’s top oil producer. The Central Bank of Nigeria started selling foreign-currency futurescontracts on the FMDQ Securities Exchange Plc in 2017 with a maximum duration of 13 months. Click here for more.

What to consider when buying property in rural areas

There are diverse reasons why some investors are interested in investing in rural areas. Some investors genuinely want to engage in farming as a business. The cost of land in and around urban centres can be prohibitive while rural properties are often cheaper. Click here for more.