25
Aug
August 25, 2022
| Investors in Interest in Nestle, Others Lift Stock Market by N65bn – Thisday |
| The stock market of the Nigerian Exchange Limited (NGX) yesterday recovered from five straight sessions of losses to appreciate by N65billion amid investors renewed interest in Nestle Nigeria Plc, among others. In summary, the NGX All-Share Index (ASI) grew by 120.48 basis points or 0.25 per cent, to close at 48,675.24 basis points. Consequently, the overall market capitalisation value gained N65 billion to close at N26.254 trillion…………Read More |
| Forex inflows drop 17% to $6.6bn – Punch |
| Aggregate foreign exchange inflows into the economy fell by 17.3 per cent to $6.58bn in April. The Central Bank of Nigeria disclosed this in its April monthly report on foreign exchange flows through the economy. It stated that, “The economy recorded a lower net foreign exchange inflow of $2.63bn, from $3.53bn in the preceding month. Aggregate foreign exchange inflow into the economy fell by 17.3 per cent to $6.58bn in April 2022, compared with $7.95bn in March………..Read More |
| With 17.92% Contribution to GDP, ICT Has Consistently Enhanced National Growth, Says Pantami – Thisday |
| The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami has applauded the consistent growth in ICT contributions to the nation’s Gross Domestic Product (GDP), which hit 17.92 per cent in the last quarter of 2020, and in the first quarter of 2021, and continued on an impressive trajectory. The Minister gave the figures recently, during the opening of the International Telecommunication Union (ITU’s) Foreign, Commonwealth and Development Office (FCDO) roundtable, and technical workshop on Building Capabilities for Sustainable and Inclusive Digital Transformation in Nigeria…………Read More |
| H1 2022: 8 Banks Generate N234.97bn from Account Maintenance, Other Commissions – Punch |
| A total of eight Deposit Money Banks (DMBs) generated N234.97billion for maintaining customers’ accounts, Electronic-banking commission, and credit-related fees, among other commissions in the first half (H1) of 2022. This represents an increase of 14.7 per cent from N204.84 billion fee and commission income generated by these eight DMBs in H1 2021………….Read More |
| OML 128: Shell, ExxonMobil end lawsuits against NNPC – Vanguard |
| Four major international oil companies operating in Nigeria are to withdraw their multi-billion dollar lawsuits against the Nigerian National Petroleum Company Limited following the recent agreements reached with NNPC for deep-water oil production in Nigeria. Shell Plc, ExxonMobil Corporation Chevron Corporation and Equinor ASA disclosed this in letters to two New York federal judges on August 22, 2022, Bloomberg reported on Wednesday…………..Read More |
| NLC Seeks Downward Review of Media Operating Licence – Thisday |
| The Nigeria Labour Congress (NLC) has urged the federal government to urgently review downwards the operating licences of media organisations in the country in response to the prevailing harsh economic condition. The Nigerian Broadcasting Commission (NBC) recently notified the management of 52 electronic media organisations in the country of its decision to withdraw the licences of 52 media houses for their inability to pay for their license renewal…….…..Read More |