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Nigeria in 1min: Economic, Business and Financial Headlines - 020822

Aug 02, 2022   •   by   •   Source: Proshare   •   eye-icon 368 views


NNPC Remits $2.7bn to CBN in Six Months - The Nigerian National Petroleum Company Limited remitted a total of N2.7bn into its accounts with the Central Bank of Nigeria from January to June this year, a document on NNPC remittances to CBN seen in Abuja on Sunday showed. Source Punch Read More

Marketers Responsible for Petrol Price Hike, Not FG – Sylva - The federal government has said that any increase in the price of petrol has been at the instance of petroleum marketers, insisting it has not removed subsidy the product. Source LeadershipNG Read More

OPEC’s New Head Assumes Office, Engages Nigerian Media on Stabilising Oil Market - The new Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Kuwaiti’s Haitham Al Ghais, yesterday engaged the Nigerian media on his immediate plans for the oil industry, hours after he assumed duty as the new head of the organisation. Source THISDAYLIVE Read More



Investors Lose N226.45bn as NGXASI Dips by 0.83%; Debt Market Size Declines by 0.03% to Close at N29.14trn; IEFX Rate Appreciates to N428.88 - The NGX All-Share Index dipped by 0.83% to close at 49,950.32 basis points as against 1.42% gain recorded to close at 50,370.25 basis points at the end of the previous trading session. In Naira terms, the NGX Market CAP records N226.45bn loss. YTD, the NGXASI Stands at +16.93%. Source Proshare Research Read More

AFEX Code Cash Crop 3.0 Calls for Scaling Agriculture through Tech and Structured Financing - Nigeria’s Agriculture sector has enormous potential to achieve scale if the right technology and innovative solutions are combined with carefully structured finance. Source Ottoabasi Abasiekong Read More



UBA Appoints New Group Managing Director and Executive Board - United Bank for Africa Plc, Africa’s global bank, today announced the appointment of Oliver Alawuba as Group Managing Director, overseeing all the Group’s banking operations across its twenty African country network and globally in the United Kingdom, the United States of America, France, and the United Arab Emirates. Source UBA Read More

Legal Tussle May Threaten Multibillion-Dollar Eko Atlantic City Project - A real estate development firm, Sea Global Energy Company Limited, promoters of the Ocean City Lagos Project, has accused the Lagos State Government and South Energyx, promoters of the Eko Atlantic City project, of encroaching on the geographic confines of land allocated by the Federal Government for the development of its Ocean City Lagos Project. Source Punch Read More

Lekki Deep Seaport to Start Operations Before End of 2022, Says Management - The management of the Lekki deep seaport says the project is now at the 95 percent completion stage. The Lekki Port LFTZ Enterprise Limited (LPLEL) was awarded a 45-year concession of the deep seaport by the Nigerian Ports Authority (NPA) on a build, own, operate and transfer (BOOT) basis. Source TheCable Read More

Local Aviation Risks Collapse as Only 38 of 98 Airplanes are Active - Beyond the withdrawal of services by two scheduled carriers, the entire local aviation sector may be in for a shutdown of operations over steady loss of fleet capacity that has made schedule reliability near impossible. Source Guardian Nigeria Read More



Pantami Rejects New Tax on Calls, Data - The Minister of Communications and Digital Economy, Isa Pantami, has said he is against attempts by the Federal Government to introduce a five per cent excise duty on telecommunication services. Source Punch Read More

U.S. SEC Charges 11 Individuals In $300 Million Crypto Pyramid Scheme - The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States. Source Reuters Read More

NCC Doles out N500m for Research in Nigerian Universities - The Nigerian Communications Commission (NCC) has committed over N500 million to the Nigerian universities and other tertiary institutions across the country to facilitate research and innovations to promote developments in the Nigerian telecommunications industry. Source The SUN Read More



Why Every Home Needs an Insurance Protection? - You’ve just invested in buying your dream home, which as an individual, is one of the biggest investments you will ever make. After furnishing and moving in your most valuable assets, you feel accomplished as you should. Source Coronation Read More



NBCC, Tech Stakeholders Canvas Metaverse and NFTs as Paths to Grow the Digital Economy - The digital world is starting to thrive and gain footing with its evolving technologies and ongoing advancements. In its efforts to advance best practices, the Chamber promotes the need to investigate the many opportunities available, particularly about the Metaverse and NFTs in Africa. Source NBCC Read More


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