Author: Ogochukwu Ndubuisi

GTCO Rises Amidst Update on Total Voting Rights Guaranty Trust Holdings Company Plc (GTCO) share price climbed to N89 in the stock market as investors’ sentiment improved amidst a broad-based rally that lifted the Nigerian Exchange (NGX) higher by N2.43 trillion. GTCO share price climbed amidst total voting rights disclosure released at the London Stock Exchange (LSE) as required by the UK financial watchdog for listed companies. Trading activities on GTCO have been heavy in the local bourse, reflected in its occasional price swings depending on market direction and investors’ sentiment. Trading details from the Nigerian bourse showed that GTCO…

NEPZA Urges FG to Grant SEZ Operators 10-year Tax Exemption The Nigeria Export Processing Zones Authority (NEPZA) has appealed to the Federal Government to grant operators within Nigeria’s Special Economic Zones a 10-year exemption from the newly introduced tax laws. Dr Olufemi Ogunyemi, Managing Director of NEPZA, made the appeal during a virtual stakeholder dialogue organised by the Federal Ministry of Industry, Trade and Investment. Ogunyemi, whonwas represented by Mrs Haleema Kamba, Director, Corporate Service, said that it would enable them to adjust their operations to the evolving regulatory environment. He said that the request had become necessary in view…

CAC Moves Against Illegal PoS Operators, Sets Jan. 1 Compliance Deadline The Corporate Affairs Commission (CAC) has announced a nationwide enforcement exercise to end the operations of unregistered Point-of-Sale (PoS) agents across the country. The CAC in a statement signed by its management, directed all operators to regularise their businesses before Jan. 1, 2026. The commission said the directive became necessary following the rising number of PoS operators conducting business without registration. According to the statement, this is in violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations. The…

PEBEC Ranks NCC Among Top Five Best-Performing Government Agencies in 2025 The Presidential Enabling Business Environment Council (PEBEC) has named the Nigerian Communications Commission (NCC) one of the top five best-performing Federal Government agencies for 2025 under the Transparency and Efficiency Category. The NCC was recognized alongside the Nigerian Content Development and Monitoring Board, which emerged overall best-performing agency; the National Drug Law Enforcement Agency, which placed second; as well as the Nigeria Customs Service and the Nigerian Ports Authority. The recognition was announced at the PEBEC Awards and Gala Night held on Tuesday at the State House Banquet Hall,…

NGX ASI Climbs as UACN, Ikeja, Transcorp Hotels Rally The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 1.08% on Friday close as investors increased bets on UACN and hospitality stocks, including Ikeja and Transcorp Hotels. The market rallied four successive sessions and was supported by renewed buying interest in medium- and large-cap stocks across major sectors, most significantly the industrial goods sector and the banking sector. The NGX All-Share Index added 1,563.92 basis points to close at 147,040.07. The stock market capitalization advanced by ₦996.84 billion to ₦93.72 trillion on Friday. However, market activities were down as the total…

Federal Begins N185 billion Gas Legacy Debt Repayment The Federal Government has taken a decisive step to revitalise the gas industry and stabilise power generation after President Bola Tinubu authorised the settlement of N185 billion in long-standing debts owed to natural gas producers. The move, endorsed on Wednesday by the National Economic Council (NEC) headed by Vice-President Kashim Shettima, marked one of the most significant interventions in Nigeria’s energy sector in recent years. The Minister of State, Petroleum Resources (Gas), Dr Ekperikpe Ekpo, in a statement on Thursday said clearing the arrears would deliver wide-ranging benefits, beginning with restoring investor…

CBN Upgrades Treasury Bills Offer Size, Adds New Auction The Central Bank of Nigeria (CBN) has increased its primary market auction raise for December to N1.45 trillion despite a relatively weak subscription recorded at midweek. This happened as the authority upgraded its December auction plan with the introduction of a new offer size, while a date not in the existing calendar has been added. On Wednesday, the CBN floated a Treasury bill auction totalling N700 billion across standard tenors of 91 days, 182 days and 364 days. The auction result showed that ₦709.6 billion was allotted from the total subscription…

Putin Rules Out Return to G7 Russia is not looking to rejoin the Group of Seven (G7) leading industrial nations, Russian President Vladimir Putin said during a visit to India on Thursday. The G7’s share of the global economy has been shrinking for years, Putin was quoted as saying in an interview with broadcaster India Today by Russian state news agency TASS. The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, with the European Union also joining the discussions. Russia was excluded from the group, which was the G8 with Russia in it after…

$1.4m Project Debt: Court Appoints Liquidator for Dantata & Sawoe The Federal High Court in Abuja, on Wednesday, appointed a liquidator for Dantata & Sawoe Construction Company Limited over its failure to pay $1.4 million in project debt. The sum is in accordance with the terms of a settlement agreement, regarding an alleged $1,257,592.83 debt owed to Zutari Consulting Nigeria Ltd, following subcontract work on the Dangote Fertilizer Plant project in Lekki, Lagos. Justice Mohammed Umar, who granted Zutari Consulting’s request for the appointment of a liquidator, held that Dantata & Sawoe had been given ample time by the court…

U.S. Targets Alleged Christian Genocide Sponsors Worldwide The U.S. government says it will henceforth stop the issuance of U.S. visas to individuals, and their immediate families, who are found to be Christian genocide sponsors or terrorist sympathisers globally. A statement issued by the U.S. Embassy in Abuja on Wednesday, said those affected are people who have directed, authorised, significantly supported, participated in, or carried out violations of religious freedom. It explained that the decision was in response to alleged mass killings and violence against Christians by radical Islamic terrorists, Fulani ethnic militias, and other violent actors in Nigeria and beyond.…