• Bears return as stock market loses N119bn

Transactions on the floor of Nigerian Stock Exchange (NSE) yesterday returned to volatility, declining by N119 billion, despite juice earnings declared by some quoted companies. Although some listed companies expected to pay cash dividend in April and May, operators are still optimistic that most local will reinvest the cash dividend paid to them in the market. To read more, click HERE

  • Outlook for banks still negative on weakening government support – Moody’s

The outlook for Nigerian banking system is still negative. Moody’s Investors Service said in a report released yesterday that, weakening government support capacity and expected increase in asset risk are major factors. The report said, government support is expected to remain weak in the next 12 to 18 months. To read more, click HERE

  • NAICOM Harps on Insurance Cover for FG’s Assets

The National Insurance Commission (NAICOM) has charged insurance officers of Ministries, Departments and Agencies (MDAs) of federal government to ensure the procurement of adequate insurance cover for government assets under their watch. The Commissioner for Insurance, Sunday Thomas, who gave the charge at the sensitisation workshop for insurance desk officers of MDAs said it was worrisome that most assets and liabilities of government were not adequately and appropriately insured. To read more, click HERE

  • All you need to know about new USSD charges, by ALTON

The Association of Licensed Telecoms Operators of Nigeria (ALTON) has explained that the new unstructured supplementary service data (USSD) rate is actuality cheaper than the previous charge. In an exclusive interview with Daily Sun,  chairman of ALTON, Mr. Gbenga Adebayo, said the new adjustment was misunderstood by the public to be an increment, explaining that, in reality, the cost is now cheaper for mobile subscribers. To read more, click HERE

  • Nigerians disagree on Moody’s negative outlook for banks

Nigerians, particularly, analysts in the financial services sector on Tuesday disagreed with , Moody’s Investors Service’s report that the outlook for Nigeria’s banking system remains negative, reflecting expectations of rising asset risk and weakening government support capacity over the next 12 to 18 months. “Nigerian banks’ loan quality will weaken in 2021 as coronavirus support measures implemented by the government and central bank last year, including the loan repayment holiday, are unwound,” says Peter Mushangwe, analyst at Moody’s and the co-author of the report. To read more, click HERE

  • Medical trip: Buhari will govern Nigeria from London, no need transmitting power to Osinbajo

The Presidency has told Nigerians that President Muhammadu Buhari will govern the country from wherever he is, insisting that it unnecessary for him to transmit power to the Vice President, Professor Yemi Osinbajo. Buhari departed Nigeria for London, the United Kingdom on Tuesday for what the Presidency described as a routine medical checkup. To read more, click HERE

  • Insecurity: Ohanaeze urges ESN, vigilance groups to chase killer herdsmen out of South East

Ohanaeze Ndigbo Worldwide had described the provocative killings at Adani Uzo Uwani in Enugu State as the confirmation of earlier reports of USA embassy warnings of bandits ravaging the North are heading towards south to disrupt peaceful territories and to unleash violence and terror attacks especially in the Southeast. In a  statement, Mazi Okechukwu Isiguzoro Secretary General Ohanaeze Ndigbo Worldwide  said: “The people of the Southeast now sleep with their eyes wide open as untold panic had enveloped the air,” we don’t know when Nigerian security officials will start carrying out Buhari’s Presidential orders to shot at sight anyone parading with Ak47.  To read more, click HERE

  • Customs propose ban on vehicles above seven years

The House of Representatives’ Committee on Customs and Excise has proposed a revenue target of N1.56tn for the Nigeria Customs Service in 2021, up from the original N1.4tn proposition. The amount was set for the NCS in 2020 before the outbreak of the coronavirus pandemic that led to a downward review of the target to N1.3tn. To read more, click HERE

  • Alleged Islamisation of Judiciary: Conduct census of Nigerians in your employ, NSCIA tasks FG

The Nigerian Supreme Council for Islamic Affairs, NSCIA, yesterday asked the Federal Government to conduct a full-scale religious census of the entire workforce of its Ministries, Departments and Agencies, MDAs, to ascertain  the states of origin and religious affiliations of the country’s workforce. The call came against the backdrop of recent outcry by Christian Association of Nigeria, CAN, that the shortlisting of more Muslims as Justices of the Court of Appeal was an attempt to Islamise the judiciary. To read more, click HERE

  • New app for social financing debuts

WORRIED by the non -avail ability of structured platforms to enable millions of Africans at home and in diaspora, have personal and group funding platforms, a Lagos-based technology firm, Xerde Limited has launched MyTudo, a social financial platform to provide solutions to social funding. The app also drives digital transformation. The app enables users to have alternative way to achieve social financial contribution of each individual’s extended network. Speaking at a media briefing in Lagos, Managing Director and Chief Executive Officer, Xerde limited, Khadijat Abdulkadir stated that the pandemic placed huge demands on tech groups to find solutions and innovative means of solving problems. To read more, click HERE