The Nigerian stock market experienced a rebound on Wednesday, registering a 0.32% gain, buoyed by a surge in buying interest in top-tier bank shares. The market capitalisation, which opened at N58.775 trillion, saw an increase of N188 billion to close at N58.963 trillion. The All-Share Index similarly rose by 331.2 points, ending the day at Read More…
The Nigerian Naira saw a notable appreciation against the US dollar, closing at N1,300 per dollar, a 5.97% increase at the official market by Wednesday’s end. This marked improvement from Tuesday’s rate of N1,383 per dollar is a reflection of the Central Bank of Nigeria’s (CBN) recent monetary policy actions. The trading session witnessed a Read More…
The UN Food Waste Index Report 2024, released by the UN Environment Programme (UNEP) in anticipation of the International Day of Zero Waste, reveals a staggering 1 billion meals wasted daily across all continents in 2022. This alarming figure contrasts sharply with the 783 million people affected by hunger and the one-third of humanity grappling Read More…
The Federal High Court in Abuja has refused to issue an injunction against Julius Abure, the National Chairman of the Labour Party (LP), from proceeding with the party’s national convention scheduled to take place in Umuahia, Abia. Justice Inyang Ekwo, presiding over the case, emphasised the importance of due process, stating, “It is essential that Read More…
The aftermath of the catastrophic collision that led to the collapse of the Francis Scott Key Bridge continues to unfold. U.S. federal safety investigators have retrieved the black box from the freight ship involved in the incident, according to the chief of the agency. “The data recorder is crucial for understanding the sequence of events Read More…
In the early hours of Tuesday, a colossal container ship collided with the Francis Scott Key Bridge, causing a catastrophic collapse that sent vehicles and individuals plummeting into the Patapsco River below. The 948-foot Singapore-flagged vessel, identified as the Dali, struck the bridge, a vital artery for the Port of Baltimore, enveloping the area in Read More…
In a decisive move to address the economic challenges facing Nigeria, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the Monetary Policy Rate (MPR) by 200 basis points, setting it at 24.75% from the previous 22.75%. The MPR, a critical financial tool, influences the rate at which banks lend to each other Read More…
Renowned Nigerian comedian, Atunyota Akpobome, also known as Ali Baba, has voiced his strong condemnation of the recent killing of 17 Nigerian Army officers in Delta State, labelling the act as “highly abominable.” In a heartfelt interview with the News Agency of Nigeria (NAN) in Lagos, Akpobome expressed his dismay, stating, “The heinous murder of Read More…
A 43-year-old hotel cashier, Tiamiyu Ayanbode, was brought before an Ikeja Magistrates’ Court on Tuesday, facing allegations of embezzling N6.7 million from his employer. Residing in Agege, Lagos, Ayanbode stands accused of theft, to which he has entered a plea of not guilty. “In the period between October 2023 and January, at the Lagos Airport Read More…
The Nigerian Insurance industry has recorded a remarkable growth in the fourth quarter of 2023, with the Gross Premium Written reaching a staggering N1.003 trillion. This figure marks a significant 27% increase from the N790 billion reported in the previous year. “The statistics reflect a robust upward trajectory in the market’s performance as the year Read More…
