Author: Julius Alagbe

As part of efforts to harness the potential of blue economy for sustainable growth and development of Nigeria, the Federal Ministry of Marine and Blue Economy

The National Union of Pensioners First Bank of Nigeria (FBN) Unit, has issued an ultimatum to the bank’s management demanding a review of their minimum

The Economic and Financial Crimes Commission (EFCC), says it will soon commence the prosecution of banks and their top officials for financial frauds.

The Federal Government has called on states benefiting from the 700 million dollars Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH)

The House of Representatives has urged the Bureau for Public Enterprise (BPE) to account for about N10 billion alleged used to register two companies for the

Nigerian Treasury Bill Yield Moderated to 20% The average yield on Nigerian Treasury bill has dropped further at the beginning of the week to close at 20%.  The yield contraction follows the apex bank reduce spot rates across standard maturities sold to investors at the primary market auction. The Debt Management Office (DMO) that conducted the auction on behalf of the Central Bank of Nigeria (CBN) slashed the rate as investors staked huge bets on the local borrowing assets. Both Treasury bills and OMO auctions conducted were relatively oversubscribed despite the tight liquidity level in the financial system. The bullish…

The House of Representatives has ordered the Joint Admission and Matriculation Board (JAMB) to remit N3.602 billion to the Federal Government Consolidated

Oil Prices Stabilise amidst OPEC+ Tough Decision Oil prices stabilised in the global commodities market despite lingering demand concerns forcing key market actors to weigh their respective positions. US Federal Reserve interest rates cut expectations and raise hope that demand would increase should the Chinese economy rebound. On the downside, Middle East tension and US recession fear limit further price increases. Brent crude increased by 0.6% to $71.82 per barrel after falling out from the line due to weak demand.  US benchmark West Texas Intermediate (WTI) rose 0.6% to $68.07 per barrel after closing at $67.67 in the prior session.…

NNPCL, Chevron Convert JV Assets to PIA Terms The Nigerian National Petroleum Company Limited (NNPCL) and its Joint Venture (JV) partner, Chevron Nigeria Ltd. (CNL), have concluded the conversion of five of its JV assets into the Petroleum Industry Act (PIA) terms. The NNPC Ltd. said the development was in line with the PIA 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms. Group CEO, NNPC Ltd., Mr Mele Kyari, during the occasion of signing of documents on Monday in Abuja described CNL as one of the most reliable partners for the NNPC Ltd. Kyari,…

Transcorp Power Falls by 10% as Investors ‘Unplugged’ Transcorp Power PLC declines strongly in the equities market as investors off the light that has been shining on the company shares. After listing, its directors were offloading to create liquidity, and the share value surged. Gradually, the market has started correcting the company’s relatively huge market value in spite of thin trading activities when compared with about 8 billion outstanding shares. The power generating company plunged by more than 9.99% in the equities segment of the Nigerian Exchange (NGX) at the very beginning of trading session this week. Its price fell…