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Naira Sinks over Unresolved FX Supply Pressures The Nigerian local currency, the naira, is suffering from multiple FX market-related depression that has reduced its purchasing power significantly since the beginning of the new administration. These pressures have remained unresolved by the monetary authority which is practically under the watch of President Bola Tinubu over previous […]

Equities Investors’ Wealth Drops By N242bn as NGX Slides NGX: Equities investors’ wealth dropped by about N242 billion in the first trading session in the new week as profit-taking activities on the Nigerian Exchange (NGX) dragged the local bourse backwards. As a result of negative price movements, the stock market key performance indicators dropped by […]

Oil Prices Jump after Goldman Sachs Forecast Oil prices jumped after Goldman Sachs predicted that crude would hit $100 per barrel in the next 12 months. Also, the Russian Federation has announced a cut in the export of gasoline and diesel while Saudi Arabia maintains the status quo on production volume. International benchmark crude Brent […]

FGN Bond Yield Rises to 14.5%, DMO Raises N4.3trn The average yield on the Federal Government of Nigeria (FGN) bonds instruments jumped moderately to 14.5% as a result of investors’ portfolio reshuffle that greeted the apex bank’s decision to postpone the monetary policy meeting indefinitely.  Central Bank of Nigeria announced that it has postponed the […]

Diesel Price to Rise as Russia Halts Export The price of diesel has been projected to rise further following Russia’s announcement to halt exports temporarily. In Nigeria, diesel price peaked at around N1,100 per litre last week, a development that raised companies spending on energy. This surge has raised companies’ production costs as manufacturers battle […]

Stanbic IBTC Surpasses One Trillion Naira in Market Value Stanbic IBTC Holdings has surpassed N1 trillion in market value, according to data from the Nigerian Exchange. The financial services boutique has been experiencing increased demand for its share in recent times following a 100% surge in return on equity in the first six months of […]

The Cement Producers Association of Nigeria (CPAN) has expressed concerns over the federal government’s plan to construct concrete roads, warning it could cause cement prices to soar to N9,000 per bag. In a statement, CPAN commended the Minister of Works for supporting cement-based roads but cautioned about potential price hikes without adequate supply-side measures. The […]

The Federal Government has declared Wednesday September 27 as public holiday in commemoration of Eil-ul- Maulid celebration, the birth of the Holy Prophet Muhammad (Peace be upon him.) The Minister of Interior Dr Olubunmi Tunji-Ojo made the declaration on Monday night in Abuja on behalf of the government. The Minister, in a statement by the […]

*Says We Have 39,526 Pending Cases *Former AGF Kanu Agabi Commends Judicial Officers, Calls For Fair Treatment And Respect *AGF Fagbemi Promises To Address Shortage Of Justices In Court Of Appeal And Supreme Court The President of the Court of Appeal, Justice Monica Dongban-Mensem on Monday disclosed that the court delivered a total of 7,295 […]

A Magistrate Court in Port Harcourt, on Monday, discharged and acquitted a lecturer at the Rivers State University, Prof David Ogbonna, who was standing trial for alleged sexual assault of a 21-year-old female student, Grace Ndamatin. Ogbonna, a lecturer at the Department of Microbiology, was arraigned by the police on June 28, 2022, after being […]

The Federal Government has pledged to set up mobile court to adjudicate on cases of Sexual and Gender-Based Violence (SGBV). The Minister of Women Affairs, Mrs Uju Kennedy-Ohanenye disclosed this to newsmen in Abuja on Monday, during a press conference, she said the move was aimed at reviving the activities of the ministry. According to […]

The Peoples Democratic Party (PDP) has raised the alarm over the fire incident at the Supreme Court on Monday, describing it as suspicious. In a statement issued by the national publicity secretary of the main opposition party, Debo Ologunagba, it expressed worries over the incident, especially, according to it, given heightened public apprehension of a […]