February 19, 2025
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CBN’s N100,000 withdrawal limit sparks concern among POS operators

The Central Bank of Nigeria’s (CBN) recent directive imposing a N100,000 daily withdrawal limit for individuals has elicited strong reactions from Point-of-Sale (POS) operators nationwide. While the policy aims to drive a cashless economy and combat illicit financial activities, many operators view it as a threat to their businesses, especially during the bustling Yuletide
Money

35% of 5G users ready willing to pay more for premium connectivity services—Report

A new report from global technology leader, Ericsson, highlighted that 35 per cent of 5G users are willing to pay for premium services that exceed standard 5G offerings, driven largely by the demand for seamless performance in high-traffic areas and GenAI applications. Ericsson’s findings revealed that consumer expectations are shifting; 5G users are not only […]
Money

CPPE raises concern over regulatory overreach affecting business owners’ investment

BY MOTOLANI OSENI The Centre for the Promotion of Private Enterprise (CPPE) said, it is worried about the growing incidents of regulatory irritations, distractions, and frustrations inflicted on the Nigerian manufacturing sector and other investors in the Nigerian economy. The director/CEO of CPPE, Dr. Muda Yusuf stated that, there are disturbing tendencies of overbearing
Money

BoI launches palliative food programme

By Motolani Oseni To cushion the effect of challenges currently faced by Nigerians, the Federal Ministry of Industry, Trade and Investment has unveiled the Bank of Industry’s (BoI’s) palliative food programme. The Honourable Minister, Dr Doris Nkiruka Uzoka-Anite, at the launch of the programme at BoI’s head office in Lagos, said the move is coming […]
Money

Equities market edges higher, gains N1.62trn

By Motolani Oseni The equities market of the Nigerian Exchange Limited on Wednesday edged higher as the market capitalization gained N1.62trillion to close at N55.58trillion. At the close trading activities yesterday, the Lagos bourse benchmark index ended 3.00 per cent stronger to settle at 101,517.11 points. This was due to continued buy interests in industrial […]
Money

InfraCredit admits AIICO Insurance as 2nd domestic institutional investor

By Motolani Oseni A specialised infrastructure credit guarantee institution, InfraCredit said, it has admitted equity investment of AIICO Insurance Plc, representing five percent of total share capital of InfraCredit and joining Leadway Assurance Plc as the second private domestic institutional investor. Further to this new equity investment, InfraCredit’s paid-in capital
Money

NGX benchmark index relapses as market cap sheds N5.17bn

By Motolani Oseni The equities market of the Nigerian Exchange Limited (NGX) at the end of mid week trading activities relapsed as market capitalisation declined by N5.17billion. Specifically, the domestic bourse slipped as the benchmark index closed 0.01 per cent weaker to settle at 63,757.23 points, while market capitalisation shed N5.17bn to close at N34.72trillion.
Money

NGX index closes flat as market cap up N230.80m

By Temitope Adebayo At end of yesterday’s trading activity on the equities market of the Nigerian Exchange Limited (NGX), the market benchmark index closed flat, as the benchmark index settled at 51,953.41 points, while the market capitalization gained N230.80million to close at N28.30trillion. Specifically, the All Share Index (ASI) closed at 51,953.41 points, slightly
Money

IMF approves immediate debt relief for 25 countries

The International Monetary Fund’s (IMF) Executive Board has approved immediate debt service relief to 25 of its member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT). Ms Kristalina Georgieva, the Managing Director, said this in a statement issued in Washington, D.C. on Tuesday. According to her, the relief was part of the […]