• Ahmed Lawan

    Senate passes Investment and Securities Bill aims at reforming capital market

    The nation’s capital market received a major boost on Wednesday as the Senate passed into law, the Investments and Securities Bill 2023. The Bill which is expected to aid the functioning of the capital market and facilitate the ongoing economic diversification in the country among others, had been passed by the House of Representatives last December. During plenary on Wednesday,…

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  • Wale Tinubu

    Oando migrates from loss to N34.7bn profit in 2021 FY

    Oando Plc has announced a N34.7billion profit after tax in its 2021 financial year compared to a loss after tax of N140.7billion in 2020 financial year. The indigenous petroleum company listed on the Nigerian Exchange Limited (NGX) announced 51 per cent turnover increase to N722.5 billion compared to N477.1 billion in the 2022 financial year. Revenue for the period was…

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  • Unilever Products brand spur nigeria 1200x900 1

    Only OMO, Sunlight, Lux going out of production, Unilever explains

    Unilever Nigeria Plc says its exit from the home care and skin cleansing markets would only affect three brands, OMO, Sunlight and Lux. The company said the decision to stop the production of the three products was to accelerate the growth of the organisation and sustain profitability. Unilever Nigeria had earlier announced that it was restructuring its business model to…

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  • NCC e1480518441673

    NCC renews commitment to industry collaboration, inclusiveness

    The Nigerian Communications Commission (NCC) has said it would continue to consult stakeholders on issues affecting telecommunication services deployments and developments, in line with its culture of inclusiveness, collaboration and partnership as predicated in its strategic focus. Executive Vice Chairman of the Commission (EVC), Professor Garba Danbatta, represented by Reuben Muoka, the Commission’s Director of Public Affairs, gave the assurance…

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  • 1a

    Average price of 1kg rice increased by 19.30% to N520.84 in February, says NBS

    The National Bureau of Statistics (NBS) on Monday disclosed that the average price of 1kg of rice (locally sold loose) on a year-on-year (YoY) basis rose by 19.30per cent from N436.58 in February 2022 to N520.84 in February 2023. The bureau in its “selected food price watch” report revealed that on a month-on-month basis, the average price of rice increased…

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  • Air Peace

    Air Peace to start nonstop Israel flights in April

    Israel’s transport minister on Sunday approved an aviation deal with Nigeria that will allow non-stop flights between the countries to begin next month for the first time, the ministry said. The agreement, which still needs cabinet approval in Israel, will let carriers from the two countries to operate flights between Tel Aviv and cities in Nigeria, like Lagos and Abuja.…

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  • movement in foreign reserves

    External reserves drop to $35.78bn amid dwindling global oil price

    Nigeria’s external reserves depleted to $35.78billion as of March 23, 2023, reaching its lowest since September 2021. The new low figure has been attributed to the Central Bank of Nigeria (CBN) intervention in the foreign exchange market and drop in global oil price. In March, the external reserves dropped to $35billion despite opening in the month under review at $36.68billion.…

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  • NCC

    NCC-CSIRT warns of pirated YouTube software-related malware

    The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has warned those looking to acquire pirated software and resources that they risk becoming victims of cybercriminal gangs that are using AI-generated YouTube videos to distribute malware. NCC-CSIRT further warned in its advisory that the consequences of falling victim can be significant for individuals and organizations, resulting in critical damage…

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  • Naira

    CBN confirms evacuation of naira notes, directs banks to open Saturday, Sunday

    The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The apex bank has also directed all commercial banks to open for operation on Saturdays and Sundays. Acting Director, Corporate Communications Department, Dr. Isa…

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  • IMG 20230322 WA0003

    FG removes excise duty for telecoms services

    The Federal Government has announced the removal of excise duty for telecom sub-sector of the Nigeria’s Digital Economy Industry. The move is in line with the recommendations of the committee it constituted to review the applicability of the Duty to the telecom sector which is considered already overburdened with taxation and sundry levies. Minister of Communications and Digital Economy, Prof.…

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