- CBN retains economic parameters amid naira devaluation to N410/$
At the close of the two-day meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), the members unanimously voted to retain major economic parameters, with the benchmark lending rate at 11.5 per cent. To read more, click HERE
- Untenable turnaround time for passport issuance
THE recent declaration by the Federal Ministry of Interior that from June 1, 2021, the issuance of passports to Nigerians would take six weeks, is wholly unsettling. It captures the agony of Nigerians. Repeatedly, public office holders ride roughshod on the citizens despite their rights to obtain legal documents, including acquiring a new passport. To read more, click HERE
- Crypto miners move to cut energy use
Bitcoin miners in North America have agreed to form the Bitcoin Mining Council to promote energy usage transparency and accelerate sustainability initiatives worldwide. This move was spearheaded by Elon Musk, and hosted by Microstrategy CEO Michael Saylor. Musk tweeted, Spoke with North American Bitcoin miners. To read more, click HERE
- State of the Nation: NPO asks FG to implementel-Rufai, Oronsaye C’ttees’ reports
The Nigerian Press Organisation, NPO has said that full implementation of the Governor el-Rufai and Oronsaye committee reports on restructuring will go along way in tackling the security challenges in the country. In a communiqué issued at the end of its meeting on the state of the nation heldonMay21,theorganisation,whichcomprises the Newspaper Proprietors’ Association of Nigeria, NPAN, the Nigerian Guild of Editors, NGE and the Nigeria Union of Journalists, NUJ, advised the federal government to immediately implement the report. To read more, click HERE
- Five firms account for 70% of Nigerias stock market value
Dangote Cement Plc and four other companies accounted for about 69.59 per cent of the market capitalisation of equities on the Nigerian Exchange Limited as of the end of April. The other companies are MTN Nigeria Communications Plc, Airtel Africa Plc, BUA Cement Plc and Nestle Nigeria Plc. To read more, click HERE
- Bears reign on NGX as negative return year-to-date prints at 5%
Nigeria’s equities market continued on its negative path on Tuesday May 25 as the bears fortified their position on the Bourse, pushing the negative returns seen this year to a new high of -5 percent. The Nigerian Exchange (NGX) Limited All Share Index (ASI) stood lower at 38,256.76 points at the close of trading session. To read more, click HERE
- CBN approves new licence requirements for the Payments System
The Central Bank of Nigeria (CBN) has approved new license requirements for the Payments System, adding that corporate entity eligible must be registered by the Corporate Affairs Commission (CAC) with Memorandum and Article of Association (MEMART). The payments system plays a very crucial role in any economy, being the channel through which financial resources. To read more, click HERE
- Twitter relaunches verification process: Here is how to get the blue tick
Twitter has announced that, as of May 21, it will be rolling out its new verification application process, and reviewing public applications for verification on Twitter. The latest milestone in Twitter’s plans to provide greater transparency, credibility and clarity to verification on Twitter, the announcement follows the development and launch of a new policy. To read more, click HERE
- Over N17 billion royalties unremitted as solid minerals export policy lingers
The Nigerian Government is losing huge revenue from the solid mineral sector in the country, due to the lack of standardized guideline procedure and requirements for exporters despite…The post Over N17 billion royalties unremitted as solid minerals export policy lingers. To read more, click HERE
- AfCFTA: FG working on priorities to ease export processes ‘ NEPC
The Nigeria Export Promotion Council (NEPC) has said that the federal government through the Council, is working on some short and medium term priorities and initiatives that would ease the export processes in Nigeria enable the country to reap the full benefit of the African Continental Free Trade Agreement (AfCFTA).The post AfCFTA: FG working on priorities to ease export processes ‘ To read more, click HERE