Feb 21, 2021 - Business Metrics

ASHON advocates level playing ground for commodities exchanges’ in Nigeria

Feb 21, 2021 Ugochi Emmanuel

ASHON advocates level playing ground for commodities exchanges’ in Nigeria The Association of Securities Dealing Houses of Nigeria (ASHON) has urged the Federal Government to initiate policies that will enable commodities exchanges to contribute towards Nigeria’s economic growth and development. ASHON, which advocated a level playing field for all operators of commodities exchanges in Nigeria, stated that an enabling operating would enhance optimal performance of everyone in the commodities exchanges’ value chain. In a statement signed by ASHON’s Chairman, Onyenwechukwu Ezeagu, the Association noted that the proposed capital injection…

Investors keep shunning equities on rising Fixed Income market yields

Feb 21, 2021 Omobayo Azeez

Trade volume slides by 42.6%; value contracts 22.9% Investors lose N130bn Experts expects dividend news to temper sell-offs For the third week in a row, trading on the floor of Nigerian Stock Exchange (NSE) ended in red as investors picked new bride in the Fixed Income market following rising yields. Despite the modest positive start recorded in the market at the beginning of last trading week, the bears waxed stronger and impaired the aggregate value of equity assets at the market by N130 billion loss, dragging the market Cap…

Consumer complaints: Electricity, banking, telecoms top in 2020

Feb 21, 2021 Banjo Olaniran

Consumer complaints: Electricity, banking, telecoms top in 2020 The Federal Competition and Consumer Protection Commission (FCCPC) has announced that the sectors which received the most complaints by consumers in 2020 were the electricity and banking sectors. This was disclosed by The Executive Vice Chairman of FCCPC, Mr Babatunde Irukera in an interview with NAN in Abuja on Saturday. The Chairman added that the telecoms sector followed in 3rd place after Electricity and Banking. He added that the nature of the complaints has overwhelmed the complaints team and the commission plans…

‘Despites recession exit, further recovery tough for Nigerian economy’

Feb 21, 2021 Ugochi Emmanuel

‘Despites recession exit, further recovery tough for Nigerian economy’ Despite the recent thrilling news that the Nigerian economy has pulled out of recession, analysts at Financial Derivative Company Limited (FDC) have warned of certain lingering structural challenges capable of hindering further economic growth in the country. In its Monthly Economy Update, the analysts maintained that the recovery process in 2021 is expected to be gradual and tough, especially for sectors such as trade and manufacturing that are income elastic and forex dependent. “We expect the CBN to ease…

Telcos share 383m allocated telephone lines in 20 years

Feb 21, 2021 Omobayo Azeez

Telcos share 383m allocated telephone lines in 20 years Latest fact from the Nigerian Communications Commission (NCC) has revealed that telecoms operators have been allocated a total of 383 million telephone lines since inception of digital mobile service in the country in 2001. The commission, in an update released on its official website on Friday 19th, February, 2021, under the heading: National Numbering Plan (2021 Q1), shows the fact NCC, in a press release on Saturday again clarified that the update report was, by no means, either an indication…

7 die as NAF aircraft crashes near Abuja airport

Feb 21, 2021Feb 21, 2021 Umar Suleiman

7 die as NAF aircraft crashes near Abuja airport A Nigerian military aircraft has crashed near Abuja airport, killing all seven people on board, according to officials. “First responders are at the scene. Sadly, all 7 personnel on board died in the crash,” Ibikunle Daramole, air force spokesman, said in a statement on Sunday. The Beechcraft KingAir B350i aircraft crashed while returning to the Abuja airport after reporting engine failure en route to Minna, he said. Minna is a city about 110km (69 miles) northwest of Nigeria’s capital,…

We did not exit recession by accident – Lai Mohammed

Feb 21, 2021Feb 22, 2021 Banjo Olaniran

We did not exit recession by accident – Lai Mohammed The Minister of Information and Culture, Alhaji Lai Mohammed, says Nigeria did not exit the latest recession by accident, but with “hardwork, foresight and deliberate planning by government.” The minister stated this on Saturday when he featured on a Channels Television programme, “Sunrise Daily,’’ monitored by the News Agency of Nigeria (NAN) in Abuja NAN reports that Nigeria slipped into recession for the second time in four years in the midst of COVID-19 after the country’s Gross Domestic…