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Economics at vanguardngr.com

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06

FG increases charges on wood export by 150 percent

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By Godwin Oritse The Federal Government has increased charges on wood export from Nigeria by 150 percent for indigenous exporter to N250,000 from N100, 000 per 20 feet container. Similarly, the charges on wood export by foreigners was…

04

Investors gain N4.4trn as banking sector leads stock trading

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Stock investors gained N4.414 trillion in March as the Nigerian Exchange, NGX ended the month on a positive note despite the disappointing full year performance of some companies and interest rate hike by the Central Bank of Nigeria, CBN.

03

CBN New Capital Base: Top 5 banks in N1.5trn shortfall

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The top five banks have a shortfall of N1.5 trillion to meet the new minimum capital base announced yesterday by the Central Bank of Nigeria, CBN for international commercial banks.

02

Demolition: Judge berates FCTA for disobeying court order

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ustice Hamza Muazu of an Abuja High Court sitting at Maitama, yestersday, berated authorities of the Federal Capital Territory Administration for disobeying an order of the court that restrained them from demolishing an estate owned by…

01

Discrimination against Gbenga Daniel’s son: FAAN shuts KFC at Lagos airport

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FOLLOWING discrimination against Adebola Daniel, son of Gbenga Daniel, former governor of Ogun State, the Federal Airports Authority of Nigeria, FAAN, has shut down the Kentucky Fried Chicken, KFC, at the Murtala Muhammed International…

Thursday, Mar 28

22

CBN introduces N500bn, N200bn minimum capital base for banks

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Central Bank of Nigeria (CBN) on Thursday, March 28, 2024, unveiled N500bn new minimum capital requirements for banks

21

Economic growth: Sanwo-Olu advocates low-interest rates for MSMEs

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Lagos State Governor, Mr. Babajide Sanwo-Olu, has advocated the need for low interest rates for Micro Small, and Medium enterprises, MSMEs, especially women entrepreneurs in the country in order to further provide financial support for…

Just in: Tinubu appoints new chairman for Code of Conduct Bureau

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President Bola Tinubu has appointed Dr. Abdullahi Bello as the Chairman of the Code of Conduct Bureau, pending confirmation by the Senate.

17

Kano market mgt, traders clash over relocation

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The Management of Sabon Gari market in Kano and traders pushing wheelbarrows in the market have been entangled in disagreement over relocation plan.

14

Customs records 98 seizures of items with DPV of over N700m

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The Federal Customs Service, Federal Operations Unit Zone 'B' Kaduna has given an update on the activities of the unit from 17 February to 28 March 2024, saying within the period it recorded a total of 98 seizures of 21 different items…

Segun Olatunji: Let’s protect free press, let’s protect our democracy against military misconduct, NUJ, NGE, IPI

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Being a press statement read at a press conference called by the International Press Institute (IPI), the Nigerian Guild of Editors (NGE), and the Nigeria Union of Journalists (NUJ) at FCT Council of NUJ, Utako, Abuja, to update members of…

13

Binance executive sues NSA, EFCC

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The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA) Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC) over alleged violation of his fundamental rights.

12

Elon Musk announces free premium features on X for select verified accounts

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Elon Musk has announced that some X (formerly Twitter) users will get access to X Premium features without having to pay for them.

11

Minimum wage: TUC asks FG to pay FAAC allocations of defaulting states to workers

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“This is a demand that we have put forward. Look at the states, as at April (2023), what was shared as Federal Allocation was somewhere around N400bn but as at last month (February), what was shared was close to N2trn.”

07

Stakeholders rage as profit from forced labour rises 3% to $236bn golbally

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STAKEHOLDERS have expressed outrage over increasing illegal profits from forced labour in the private economy globally including Nigeria

FG to collect 9 taxes, says FIRS chairman

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The Federal Inland Revenue Service, FIRS, is to administer not more than nine taxes, the chairman of the agency, Mr. Zacch Adedeji, has revealed.

05

Capital market: SEC, NGX , ASHON, others hail 13-year of Oscar Onyema’s contribution

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The Securities & Exchange Commission (SEC), Nigerian Exchange Group Plc, Association of Securities Dealing Houses of Nigeria (ASHON) among other key stakeholders have celebrated the outgoing Group Chief Executive Officer of Nigerian…

Why companies are helpless in currency depreciation

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THE Group Chief Operating Officer of Waltersmith Group, Alex Osho, alongside other business leaders has said that Nigeria’s economic environment has made it difficult for companies to hedge against the continued depreciation of the local…

Dangote refinery to accelerate European trade decline

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THERE are fears that the coming on stream of $20 billion Dangote oil refinery could diminish decades-long gasoline shipments from Europe to Africa worth $17 billion annually.

Deregulation: We have not adjusted prices of petrol, diesel — NNPC

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THE NNPC Limited, a global energy company with businesses and operations across the entire spectrum of the energy value chain, said it has not adjusted the prices of petrol and diesel in Nigeria.

04

Interest rate, demand drive up investments in Mutual Funds to N2.8trn

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Interest rate and huge demand have propelled investments in Mutual Funds to 82.2 % rise with its Net Asset Value, NAV, reaching N2.82 trillion Year-on-Year, YoY, in February 2024, from N1.55 trillion recorded in the corresponding period of…

LCFE seeks trading of crude oil in Nigeria

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The Lagos Commodities Futures Exchange, LCFE, has moved for the trading of Nigeria’ s crude oil in its Exchange, in a bid to help boost Nigeria’s revenue generation.

Fears over debt sustainability mounts, jeopardizing CBN’s policy

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Amidst fresh upsurge in public debt, financial and public affairs analysts have expressed fears that Nigeria’s debt service ratio may become unmanageable, while more borrowing is beginning to crowd out private sector funding.

02

Naira rises to N1,340/$ in parallel market

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The naira yesterday appreciated to N1,340 per dollar in the parallel market from N1,350 per dollar on Tuesday. Similarly, the naira yesterday appreciated to N1,300.43 per dollar in the Nigerian Foreign Exchange Market (NAFEM).

Wednesday, Mar 27

00

Naira gains 6% at official market

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The Naira appreciated against the dollar by 5.97 per cent at the official market by the close of Wednesday’s trading session, according to data from the FMDQ trading platform.

22

‘Rescued Kuriga children finally reunited with parents’

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By Ibrahim Hassan-Wuyo The rescued schoolchildren from Kuriga in Chikun Local Government Area of Kaduna State, have finally been reunited with their parents in Kaduna on Wednesday evening. Secretary to the Kaduna State Government, Dr.…

Tinubu passionate about enhanced healthcare delivery – Shettima

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The Vice President, Senator Kashim Shettima, has identified enhanced healthcare delivery as a top priority in the President Bola Tinubu renewed hope administration.

Tinubu forms economic coordination council, names Dangote, Elumelu as members [See full list]

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President Bola Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC)

21

Okuama: Slain soldiers left behind pregnant widows, 21 orphans – Lagbaja

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The Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja, says the officers and soldiers of the Nigerian Army who were gruesomely murdered in Okuama Community in Delta on March 14, left behind 10 widows three of whom are pregnant and 21…

20

With abundance of gas, Nigeria shouldn’t be energy poor, says Ekpo

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The Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo on Tuesday insisted that with its huge abundance of natural gas resources, Nigeria should not be facing energy poverty.