The Centre for the Promotion of Private Enterprise (CPPE) yesterday lamented that the rising inflationary trend in Nigeria is eroding the profit margins of investors as well as manufacturers. In a statement signed by the Director/Ceo of the CPPE, Dr Muda Yusuf, the group said that the surge in petrol prices has further exacerbated the [&hellip...
•Bismarck Rewane Renowned economist, Bismarck Rewane, says the 70% windfall tax imposed on banks is punitive and will deter investors. “Don’t forget that the corporate income tax is about 30%. So, this is a very punitive tax,” he said on Channels Television last night. “It discourages investors who say that if I lose money, I […]...
•Education minister, Prof Tahir Mamman The federal government has denied reports that it is selling off public universities to private investors. The Minister of Education, Prof Tahir Mamman, said there has been misinformation on one aspect of the ministry’s policy in respect to tertiary education, reports Daily Trust. The minister who stated ...
Crypto investors lost $664m to hackers in the first half of the year, marking a more than 50 per cent increase compared to the same period last year, according to data from DefiLlama. The largest aggregator for decentralised finance stated that the bulk of those losses came from phishing attacks and compromised private keys, reports […]
•(From left): Brazil’s President Luiz Inacio Lula da Silva, China’s President Xi Jinping, South African President Cyril Ramaphosa, Indian Prime Minister Narendra Modi and Russia’s Foreign Minister Sergei Lavrov raise their arms as they pose for a group photograph, at the BRICS Summit in Johannesburg Some former envoys have said that the...
The NGX All-Share Index experienced a significant decline in April, losing N3.57 trillion in market value. This downturn represents the first monthly decline for the NGX this year, contrasting with gains of 17.7%, 12.47%, and 5.64% recorded in January, February, and March respectively. Despite this setback, the NGX is still up by 31.36% year-t...
Investors lost N784 billion on the stock market last week following sell-off in the shares of some highly capitalised stocks. The selloffs kept the stock market in the negative territory despite signs of recovery in some banking securities, which hitherto drove weak performance in the market, reports Vanguard. Investment analysts had projected...
•Tinubu and Al Thani President Bola Tinubu has re-echoed his government’s resolve to fight corruption and create a good business environment, urging Qatari investors to report any Nigerian government official who asks for bribe. Tinubu said this at the Nigeria-Qatar Business and Investment Forum in Doha, yesterday, promising that his governmen...
A member of the House of Representatives representing Ideato North South Federal Constituency, Hon. Ikenga Ugochinyere Ikeagwuonu, has expressed concerns over the raid of headquarters of the Dangote Group by operatives of Economic and Financial Crimes Commission (EFCC). EFCC yesterday raided the headquarters of the Dangote Group in connection ...
•The suspects The Kogi State command of the Nigeria Security and Civil Defence Corps NSCDC has paraded one Faruk Abdullahi for the procurement of fake employment letter of the Nigeria Maritime Administration and Safety Authority NIMASA to Sule Abdullahi at the cost of two million naira. Also paraded were pastor Chimezie who collected one Milli...
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