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Daily Business News Brief | Wednesday, May 25th, 2022.

Home   /   Daily Market Reports   /   Daily Business News Brief | Wednesday, May 25th, 2022.
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May 25, 2022
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SEC to Resolve Issues of Unclaimed Dividend with Identity Management – Thisday

The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has stated that the identity management system being developed by stakeholders would tackle problem of unclaimed dividend in the capital market. ……………..read more

Cooking gas demand crashes amid rising prices, marketers groan – Punch

Demand for Liquefied Natural Gas (LPG) popularly known as cooking has dropped to a record low across the country, The PUNCH findings have shown. Market report gathered on Tuesday showed that consumers had lately either reduced consumption or ditched the commodity for cheaper alternatives such as coal and firewood……………read more

51 million phone owners lack NIN – Punch

At least 51.3 million unique telecommunication devices may not have National Identification Numbers.  According to the Nigeria Communications Commission’s document, titled, ‘Deployment of a Device Management System: Project Information Memorandum,’ Nigeria had about 132 million unique devices connected to telecommunication networks in 2020……………read more

Oil marketers seek investments in new trucks – Daily Independent

Clement Isong, Executive Secretary of the Major Oil Marketers of Nigeria, on Tuesday, called for investments in new trucks. He said most of the 40, 000 petroleum product trucks on Nigerian roads were about 40 years old.  He revealed this during an oil and gas summit in Lagos where he delivered a lecture on ‘Opportunity areas and challenges of investments in the Petroleum Products Marketing & Bunkering sector’…………….. read more

CBN raises interest rate to 13% – Punch

The Central Bank of Nigeria on Tuesday raised the interest rate to 13 per cent for the first time in two years. The interest rate was raised from 11.5 per cent to 13.5 per cent.  The CBN Governor, Godwin Emefiele, announced this on Tuesday while addressing the reporters after the Monetary Policy Committee meeting in Abuja.  Justifying the raise, Emefiele said the MPC is suspicious there might be an aggressive accretion of inflation………………read more

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