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02

Stock Investors Lose N599bn as Profit-Taking Intensifies

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By Dipo Olowookere For the 14th trading session, the Nigerian Exchange (NGX) Limited closed in the red zone after it depreciated by 1.04 per cent on persistent profit-taking. Yesterday, the selling pressure by stock investors intensified,…

Tuesday, Apr 16

23

All You Need To Know About 1Win App

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Are you ready to experience next-level mobile gambling? Come around and see about the 1WIn app. What is the 1Win app for Android? 1Win is a well-known gambling platform, and its popularity in the industry showcases how good the services…

Dangote Crashes Diesel Pump Price to N1,000 Per Litre

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By Modupe Gbadeyanka The pump price of Automotive Gas Oil (AGO), otherwise known as diesel, has been brought down to N1,000 per litre, thanks to Dangote Petroleum Refinery, Lagos. The oil facility, owned by Africa’s richest man, Mr Aliko…

20

Stanbic IBTC Capital Facilitates Axxela’s N16.4bn 10-Year Bond Sales

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By Aduragbemi Omiyale The investment banking subsidiary of Stanbic IBTC Holdings, Stanbic IBTC Capital, has used its expertise in the Nigerian capital market to help with the successful issuance of the 10-year series 1 fixed-rate bond of…

19

Comviva Unveils Low-Code/No-Code Platform for Digital Payments

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Comviva, the global leader in customer experience and data monetization solutions, today announced the launch of its transformative Low-Code/No-Code Platform. Comviva’s Low-Code/No-Code composable platform is an extension of its existing…

Food Inflation Slowing Down—Wale Edun

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By Adedapo Adesanya The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said Nigeria’s food inflation has started easing despite rising to 40.01 per cent in March 2024 on a year-on-year basis. On Monday,…

18

Lagos Waives Penal Fees for Property Owners Without Building Permits

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By Aduragbemi Omiyale Property owners and developers who did not obtain the requisite building permits before erecting their structures in Lagos State now have a 90-day grace to obtain their approvals without the payment of penal fees. A…

17

Shareholders Approve Afriland Properties N343.5m Dividend Payout

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By Aduragbemi Omiyale A dividend payout of N343.5 million has been approved by shareholders of Afriland Properties Plc at the company’s 11th Annual General Meeting (AGM) held virtually on Tuesday, April 16, 2024. Business Post reports that…

Ecobank Sponsors 2024 National Schools’ Team Chess Competition

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By Aduragbemi Omiyale The 2024 National Schools’ Team Chess Competition is anticipated to be bigger with the inclusion of Ecobank Nigeria as a strategic partner of the Nigeria Chess Federation (NCF), the organisers of the event. The…

15

Lower Economic Growth, Trade Disruptions Expected in 2024—UNCTAD

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By Adedapo Adesanya The UN Trade and Development (UNCTAD) has warned that further growth deceleration could be expected this year following the global economic slowdown experienced in 2023. In 2023, the global economy grew by 2.7 per cent,…

Fidelity Bank Shareholders to Get 70% Rise in FY 2023 Dividend Payout

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By Dipo Olowookere Fidelity Bank shareholders will receive a final dividend of 60 Kobo per share if approved at the next Annual General Meeting (AGM), bringing the total dividend for the 2023 financial year to 85 Kobo per share, 70.0 per…

14

95 million Nigerians Yet to Enrol for NIN—NIMC

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By Adedapo Adesanya The National Identity Management Commission (NIMC) has said 95 million Nigerians are yet to enrol for the National Identification Number (NIN), as it strives to meet the 200 million target by 2025. This was revealed by…

Minister Defends Why Nigeria Needs to Lead Africa in Artificial Intelligence

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By Adedapo Adesanya The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has disclosed that Nigeria would lead Africa and play a leading role in the global Artificial Intelligence (AI) ecosystem, after the…

13

Tax Incentives: FG to Give Clarity on Revised IDEC Process April 23

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By Modupe Gbadeyanka The federal government has invited manufacturers, importers, MDAs, NGOs and all other key industry stakeholders to a meeting to provide clarity on the revised Import Duty Exemption Certificate (IDEC) process. A…

12

Investors Sell-Off Wema Bank Shares Amid Recent Reports, Others

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By Dipo Olowookere The barrage of negative reports on Wema Bank Plc in some sections of the media may have taken a toll on the company’s shares at the stock market. In the past few days, the mid-level financial institution has been in the…

11

NASD Unlisted Security Index Sheds 0.04% to 1,028.33 Points

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By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week (Monday, April 15) with a 0.04 per cent decline amid cautious trading by investors. This led to the shortening of the NASD Unlisted Security Index (NSI…

10

Naira Now N1,136/$1 Amid Persistent Inflationary Pressures

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By Adedapo Adesanya The Naira appreciated further against the United States Dollar by 0.6 per cent or N6.34 at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the foreign exchange (FX) market on Monday, April 15, trading…

Oil Prices Slip as Iran Attack on Israel Concerns Ease

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By Adedapo Adesanya Oil prices slipped on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could affect the crude market. Brent futures…

02

Nigerian Stocks Bearish for 13th Straight Sessions Amid Panic Selling

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By Dipo Olowookere The absence of a positive trigger has kept the Nigerian Exchange (NGX) Limited in the negative territory for the 13th consecutive trading session, as it further declined by 0.53 per cent on Monday. Business Post reports…

Monday, Apr 15

20

Nigeria Now Paying More for Petrol Subsidy Than Before—El-Rufai

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By Modupe Gbadeyanka The immediate past Governor of Kaduna State, Mr Nasir El-Rufai, has claimed that the federal government under the leadership of President Bola Tinubu is now paying more for petrol subsidy than his predecessor, Mr…

19

Nigeria Grows Oil Reserves to 37.50bn Barrels in Six Months

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By Adedapo Adesanya The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the nation’s oil reserves as of January 1, 2024, stood at 37.50 billion barrels, 1.2 per cent higher than the 37.046 billion barrels recorded as of…

5,000 Women Benefit from Unity Bank Yanga Savings Account Offering

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By Modupe Gbadeyanka No fewer than 5,000 women have benefited from Unity Bank Plc’s Yanga savings account offering, a product tailored to support female business owners in the country. The offering is packed with capacity building, MSME…

Transformative Power of NDDC Board and Management

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By Jerome-Mario Utomi This piece was inspired by a recent statement credited to the Chairman of the Niger Delta Development Commission (NDDC) Chiedu Ebie, when a delegation of Concerned Agbor Citizens (CAC) visited him at his residence to…

17

Augmented Authenticity: How Snapchat and AR Are Helping to Redefine Brand-Customer Relationship

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By Talia Klopper It’s not just the way that brands promote their products and services or communicate their value that has changed over the last decade, but also where they do it. Driven by both advancements in technology and continuously…

16

Groups Want FG to Block $2.4bn Sale of Shell Assets

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By Adedapo Adesanya A group of 40 civil society organizations including Amnesty International, have called for the blockade of the proposed sale of Shell’s onshore oil business in the Niger Delta region of southern Nigeria based on…

Non-Performance: NERC Orders Immediate Downgrade of Band A Feeders

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By Modupe Gbadeyanka Any electricity customers on the Band A feeders not supplied at least 20 hours of power supply daily for seven days should be downgraded immediately by the distribution company (DisCo) in the coverage area, the…

14

Unlisted Securities Traders Lose N81bn in Week 15

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By Adedapo Adesanya The 15th week of trading at the NASD Over-the-Counter (OTC) Securities Exchange was bearish despite operating for only two days after the financial markets in Nigeria went on a three-day break from Tuesday through…

Nigeria’s Inflation Jumps to 28-Year High of 33.2% in March 2024

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By Adedapo Adesanya Nigeria’s inflation rate surged further, hitting a 28-year high of 33.2 per cent in March 2024, the National Bureau of Statistics (NBS) said in a report on Monday. In the Consumer Price Index (CPI) for March 2024, the…

Nigeria to Host 2025 IFMA Global Africa Conference

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By Modupe Gbadeyanka The 2025 International Facility Management Association (IFMA) Global Africa Conference will be hosted by Nigeria, the Managing Director of the organisation for Europe, Middle East & Africa (EMEA), Ms Lara Paemen, has…

Dangote Cement’s Sale of N100bn Commercial Paper Closes Tomorrow

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By Aduragbemi Omiyale The sale of N100 billion worth of commercial paper by Dangote Cement Plc will close tomorrow, Tuesday, April 16, 2024. The exercise is from the N300 billion Commercial Paper Issuance Programme of the leading cement…