Business

Power Lines [Photo: energymixreport.com]

Lack of cost-reflective tariffs discouraging investment in Nigeria’s electricity sector

“Investors must cover their costs to make further investments,” said Mr Okeke of Azura Power

EXPLAINER: How new CBN charges on bank withdrawals, deposits can affect you

The plan is not entirely new as it was first rolled out in 2012. Still, the new charges have infuriated many bank users.

Nigerian Stock Exchange Trading floor [Photo: blogs.cfr.org]

Renewed profit taking: NSE market indices down by 0.13 per cent

The All-Share Index lost 35.46 points to close at 27,646.15 against 27,681.61 achieved on Wednesday.

Nigeria loses $1.35 billion to oil theft in six months

The loss was recorded between January and July 2019.

Cyril Odu

JUST IN: Union Bank board chairman is dead

Mr Odu died on Tuesday, a disclosure sent to the Nigerian Stock Exchange, said.

Central Bank of Nigeria (CBN)

Nigeria approves three new ‘Payment Service Banks’

An official says the approval was in line with its objective of enhancing financial inclusion in the country.

Qatar Airways

Qatar Airways annual loss widens to $639m

The results mark a steeper loss from the previous year when Qatar Airways reported a loss of 69 million dollars.

MTN Nigeria office

MTN plans to raise N100 billion from commercial paper

An MTN official suggested the firm would issue the commercial paper through the Nigerian Stock Exchange.

Godwin Emefiele, CBN Governor

CBN imposes additional charges on transactions on individual bank accounts

Nationwide implementation of cashless policy effective March 31, 2020, CBN says.

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE indices sustain negative outlook, amid Airtel price loss

Airtel recorded the highest loss, dropping by 10 per cent to close at N283.50 per share.

AMCON

N5 trillion AMCON debt: Osinbajo constitutes inter-agency taskforce on recovery

About 67 per cent of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities.

Director-General, Debt Management Office, DMO, Patience Oniha

Nigeria govt. to auction N150bn bonds September 25

The DMO says units of sale is N1, 000 per unit, subject to a minimum subscription of N50 million.

Boeing 737 [Photo Credit: Linkdin]

Dana Air takes delivery of first Boeing 737 aircraft

The arrival of the new aircraft is confirmation of the airline’s commitment to increase its capacity and meet the demands of its guest.

Andela

Andela lays off over 250 engineers in Nigeria, other African countries

The form says it Wants to focus on experienced talents.

Racheal breaking stone

Suleja heroines who break stones for peanuts

Women and young girls speak about why they adopt manual stone breaking as a daily job.

Nigeria’s inflation reduces again

The headline inflation reduced from 11.08 per cent in July to 11.02 per cent in August.

MTN-logo

MTN’s MoMo Agent plans to aid financial inclusion in Nigeria

MTN joins the ongoing efforts to accelerate the CBN’s drive for financial inclusion.

Aliko Dangote

Dangote firm optimistic FG’s import restriction will aid operations

Mr Dangote wants the government to enforce its decision to cut the importation of tomato-paste to reduce dumping of subsidised paste.

Nigeria Stock Exchange (NSE)

NSE: Market opens on bearish note, down 0.74 per cent

The All Share Index (ASI) shed 204.68 points to close at 27,574.32 against 27,779.000 achieved on Friday.

Saudi Arabia

How do the Saudi attacks affect Nigeria?

The Iran-backed Houthi militia in neighbouring Yemen, have taken responsibility for the attack in Saudi Arabia.

Zainab Ahmed

NES#25: Nigerian Economic Summit to focus on pillars of ‘industrial revolution — Minister

The 25th edition of the Nigerian Economic Summit (NES#25) will hold on October 7 and 8in Abuja.

Saudi Arabia

Saudi, Gulf stocks fall after attacks on Aramco oil plants

Aramco has agreed to buy a 70 per cent stake in SABIC from the Saudi state Public Investment Fund.

Executive Secretary, Nigerian Content Development Monitoring Board, Simbi Wabote

Why it’s difficult to enforce local content laws — Board Secretary

Mr Wabote says Nigeria continues to provide leadership and guidance to other African nations that want to understudy its content law implementation.

nigerian_stock_exchange

NSE: Trading sustain positive outlook, up by 1.28 per cent

The market capitalisation rose by N171 billion to close at N13.522 trillion against N13.351trillion.

NIPC

Nigeria ranks 146 on Ease of Doing Business — Official

Nigeria’s Ease of Doing Business score improved by 1.37 points from 51.52 distance to frontier (DTF) in 2018 to 52.89 in 2019.