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July 22, 2022
| NGX Urged to Leverage Technology to Enhance Retail Investors’ Participation in Stock Market – Thisday |
| Capital market stakeholders have called on Nigerian Exchange Limited (NGX) and market regulator to leverage technology to enhance retail investor participation and drive listings. This disclosure was made at the recently concluded NGX CEO Roundtable themed “Creating the Enabling Ecosystem for Accessing Capital from the Nigerian Capital Market”..Read More |
Revenue falls by N1.89tn, Nigerians face tougher times – Punch |
| Amid a projection by the Federal Government to spend a whopping sum of N6.7tn on fuel subsidy next year and a major shortfall in government oil revenue this year, economic and energy experts have predicted tougher days ahead for the economy, states and Nigerians. The Minister of Finance, Zainad Ahmed, had on Thursday released the four-month fiscal report of the economy during a public consultation on the 2023-2025 Medium Term Expenditure Framework/FSP...Read More |
Rate hikes won’t curb inflation, LCCI warns CBN – Thisday |
| The Lagos Chamber of Commerce and Industry has warned the Central Bank of Nigeria to look beyond rate hikes in its bid to tackle the surging inflation that is plaguing the nation’s economy. The Chamber said this in a statement titled ‘LCCI on CBN’s interest rate increase,’ where it called on the apex bank to look into issues like foreign exchange scarcity, insecurity, rising costs of fuels, and weak infrastructural support for production. According to the chamber, the economy could suffer from massive capital flight with a negative effect on the naira exchange rate. Read More |
Access Holdings Leads Tier-1 Banks with Largest Customer Base – Thisday |
| Following its expansion to over 14 African countries, Access Holdings Plc as at December 31, 2021, leads other Tier-1 banks in customer base with over 45 million customers. The acquisition of Diamond Bank Plc with a customer base at 19 million, including 10 million mobile users in 2019, helped Access Holdings expand its customer base, improve branch network and staff strength. .Read More |
Group pulls out of bakers’ strike – Punch |
| Amidst the strike by the Premium Breadmakers Association of Nigeria over rising production costs of bread, the Supreme Bakers and Confectioners Association on Thursday said they would not partake in the action in the national interest. The PBAN had in a statement by its President, Emmanuel Onuorah, announced plans to halt production with effect from Thursday.Read More |
Nigeria’s Debt Service Cost Hits N1.94trn, Overwhelms Revenue by N310bn – Punch |
| The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed yesterday sounded the alarm bells as she revealed that the country’s debt service cost in the first quarter (Q1) 2022 was N1.94 trillion, N310 billion higher than the actual revenue received during the period. .Read More |