Stock market losses N1.9trn to profit-taking
•Analysts finger Dangote Refinery IPO By Peter Egwuatu The Nigerian equities market reversed bullish trend last week, as N1.9 trillion was lost to widespread profit-taking across major stocks. The market was bullish penultimate week, as investors gained N3.73 trillion on the Nigerian Exchange Limited, NGX. However, last week’s trading was characterised by heavy selling pressure […]
Renewed pressure forces Naira down to N315/ USD1
A renewed pressure on exchange rate surged, yesterday, at the parallel market segment, even as the Central Bank of Nigeria, CBN, window remained stable.
Dangote says Currency situation tight
Dangote Group, Nigeria’s largest company, is struggling with a constricted supply of foreign-exchange in the country and is relying on its international cement operations and export-credit agencies to get around the shortage, reports BloombergBusiness.
FG projects GDP growth of 4.2% by 2017- Finance Minister
The Federal Government has projected rise in the country’s Gross Domestic Product, GDP, growth to 4.2 percent by 2017.
Stamp duty, Nigeria’s new goldmine — NIPOST
The Nigerian Postal Service (NIPOST) said yesterday that implementation of the stamp duty policy would become a huge revenue base for the country. On January 19, the Federal Government announced that a stamp duty of N50 would be imposed on bank customers for money received into their accounts via electronic transfers, cash and cheque.
FG mulls strategies to augment railway funding
Chairman, Senate Committee on Land Transportation, Senator Gbenga Ashafa has said that the federal government may consider giving some concessions to the Nigeria Railway Corporation, NRc to mitigate its funding constraints.
