1. No plans to redenominate naira — CBN
The Central Bank of Nigeria has said that it has no plan to redenominate or restructure the naira notes in 2024… Read more
Source: https://punchng.com/breaking-no-plans-to-redenominate-naira-cbn/
2. Stanbic IBTC bank now private liability company
Stanbic IBTC Holdings Plc has announced that its banking subsidiary, Stanbic IBTC Bank, has been re-registered as a private company limited by shares… Read more
Source: https://punchng.com/stanbic-ibtc-bank-now-private-liability-company/
3. Noor Takaful Insurance declares N478m profit
The Board of Directors, Noor Takaful Limited, a composite takaful insurance firm in Nigeria, has announced a N4.97 billion gross contribution for the 2022 financial year… Read more
Source: https://www.vanguardngr.com/2023/10/noor-takaful-insurance-declares-n478m-profit/amp/
4. Power: Tinubu canvasses N2tn Discos’ recapitalisation, tariff review
President Bola Tinubu, on Monday, said Nigeria’s power sector privatisation had failed to meet its objectives, as the national grid was serving only about 15 per cent of the country’s electricity demand despite being privatised 10 years ago… Read more
Source: https://punchng.com/power-tinubu-canvasses-n2tn-discos-recapitalisation-tariff-review/
5. FG approves N2.2tn supplementary budget
The Federal Government on Monday approved a N2.18tn supplementary budget for the 2023 fiscal year… Read more
Source: https://punchng.com/fg-approves-n2-2tn-supplementary-budget/
6. Nigeria requires policies to spur local, foreign investment – NBCC
Nigerian-British Chamber of Commerce, NBCC, is canvassing for policies that would spur both local and foreign investments in Nigeria… Read more
7. Price of rice increases 60%, yam 45% as transport fare spikes — NBS
The National Bureau of Statistics, NBS, yesterday, said the price of one kilogram (kg) of local rice sold loose increased year-on-year (YoY) by 60.5 percent to N757.06 in September 2023 from N471.42 in September 2022… Read more
8. Commodity market will boost GDP growth – Experts
A financial expert, Dr. Abubakar Muhammad, has expressed optimism that harnessing the potentials of the commodities ecosystem would be the way forward in the quest by Nigeria for sustainable economic renaissance.
Source: https://punchng.com/commodity-market-will-boost-gdp-growth-experts/
9. Investments in oil sector uncertain despite PIA – Operators
Operators in Nigeria’s oil and gas sector, on Monday, said there was still uncertainty with respect to investments in the industry despite the enactment of the Petroleum Industry Bill about two years ago… Read more
Source: https://punchng.com/investments-in-oil-sector-uncertain-despite-pia-operators/
10. Naira weakens to 1,180/$ after recent gains
The naira commenced trading on a weaker level after trading at 1,180/$ on Monday from 1,150/$ on Friday at the parallel market… Read more
Source: https://punchng.com/naira-weakens-to-1180-after-recent-gains/
