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Business Stock Market: Highlights of Today’s Trading Session [23-08-2016]
The Nigerian Stock Exchange (NSE) on Tuesday closed bearish as all-share index (ASI) dropped to close at 27,810.28 points, while market capitalisation dropped by N9,551,424,688,964.86 Highlights of today’s trading session: ASI: 27,810.28 DEALS: 3,113.00 VOLUME: 182,247,217.00 VALUE...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 43]
The naira on Monday appreciated 0.81% to 305.50 to the dollar at the inter-bank market, forty -three days after the Central bank of Nigeria introduced the flexible exchange rate policy. The capacity to defend the currency has also continued to drop as the external reserves of the country has...- ProfRem
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Politics Edo Election: APC Replies PDP Over Alleged Recruitment of Members As INEC Staff
All Progressives Congress, APC has reacted to the Peoples Democratic Party (PDP) claim that INEC is recruiting loyalists of All Progressives Congress (APC) as ad-hoc staff ahead of the September 10 Edo gubernatorial race. APC official twitter handle said: "Same lies that failed you in 2015? Why...- ProfRem
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Business Ogun Assembly Approves Amosun's Request to Access N5bn Credit Facility for Farmers
Ogun State House of Assembly has granted an approval for the State government's request to access the sum of N5bn from the Central Bank of Nigeria (CBN) Commercial Agricultural Credit Scheme facility from Sterling Bank. According to DailyTrust, the approval, it was gathered is meant to promote...- ProfRem
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Metro Why We Can’t Swap Boko Haram Fighters For Chibokgirls – Defence Chief
The Nigerian military says releasing Boko Haram fighters in exchange for abducted Chibok schoolgirls is a “political decision” beyond its powers. The defence chief, Abayomi Olonishakin, said on Monday that the military was “going ahead” with its operations against the sect. His remarks came...- ProfRem
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Metro Boko Haram Video: Parents Identify Daughter As Dorcas Yakubu
Parents of the abducted Chibok girls identified their daughter as Dorcas Yakubu in the new Boko Haram video. See video: The BringBackOurGirls group and the parents of the kidnapped Chibok schoolgirls have demanded that the federal government exchange the girls with Boko Haram suspects...- ProfRem
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Politics Uduaghan Reacts to Indictment on Electoral Fraud
Former Governor of Delta State, Dr. Emmanuel Uduaghan has reacted to the National Human Rights Commission indictment over his role in electoral fraud in the country. Uduaghan on Thursday said the National Human Rights Commission (NHRC) was wrong to have accused him of being involved in...- ProfRem
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Business Nigeria Economy Bleeds As 4 Giant Companies Lose N51.86Bn
With four major blue-chip companies losing as much as N51.86 billion in the first half of 2016, the lot of the manufacturing sector is getting bleaker and the economy of the nation is in sham. Firms in Nigeria continue to grapple with input cost pressure and weak consumer purchasing power...- ProfRem
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Politics Ali Modu Sheriff Lists Conditions For Peace in PDP
The broker peace between Senator Ali Modu Sheriff, and the National Caretaker committee chairman of the party, Ahmed Makarfi by the Board of Trsutees of the Peoples Democratic Party has once again hit the rock. Ali Modu-Sheriff, who met with the caretaker committee insisted on the following...- ProfRem
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Business Adeyemi Dipeolu: 7 Things You Need To Know About Buhari's Economic Adviser
Ambassador Adeyemi Dipeolu (PhD) is the newly inaugurated Special Adviser to the President on Economic Matters in the Office of the Vice-President of the Federal Republic of Nigeria. Here are 7 Things we know about the Economic adviser to the President of Nigeria. - He was Director of the...- ProfRem
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Business CBN Directs Bureau De Change Operators Not To Sell FX Above 2% Margin
The Central Bank of Nigeria on Tuesday directed Bureau De Change operators not to sell foreign exchange above two per cent margin of the buying rate. A statement by W.D Gotring, the Acting Director, Trade and Exchange Department of CBN, also directed authorised dealers not to sell foreign...- ProfRem
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Business CBN Intervenes As Naira Falls to All-Time-Low
The Central Bank of Nigeria (CBN), yesterday, intervened to save the naira, as the currency hit all-time-low at 350 to a dollar equivalent to 77.67 per cent dropped at the inter-bank foreign exchange market. The fall was the lowest value since the commencement of the flexible exchange rate...- ProfRem
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Metro #FreeAbusidiq: EFCC Allegedly Arrest Popular Blogger For Revealing Irregularities in Commission
Economic and Financial Crime Commission, EFCC is said to have arrest a popular blogger, Abubakar Sidiq Usman for publishing a story that revealed irregularities in the commission. Sources of Twitter, claimed that the popular blogger, @Abusidiq was arrested by the Magu-led EFCC for a story...- ProfRem
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Politics Jonathan Quietly Meets With Militants [Guardian]
Strong indications have emerged that the former President, Goodluck Jonathan is meeting with key members of the Avengers and other known militant groups, with a view to dousing the tension in the region, as well as avert deployment of soldiers and military hardware to the region. The Bayelsa...- ProfRem
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Metro Sponsors of Niger Delta Delta Avengers Revealed [See Names]
A group that recently split from Niger Delta Avengers (NDA), a militant organization that has claimed responsibility for bombing numerous oil facilities, has revealed sponsors of the Avengers. According to SaharaReporters, Cynthia Whyte, an alias for a male spokesman, the splinter group also...- ProfRem
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Business Nigeria Imports Over 90% Of Expired Rice - Custom
The Comptroller General of the Nigerian Customs Service (NSC), Col. Hameed Ali (rtd) has said that over 90 percent of rice imported into the country through land borders is expired commodity. Ali made this known this in Lagos while responding to a request by the president of the Beninoise Rice...- ProfRem
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Politics Governor El-Rufai Begins Free Compulsory Education
Governor Nasir El-Rufai of Kaduna State has concluded plans to commence the enforcement of free compulsory primary education across the 23 local government areas next month. The Commissioner for Education, Science and Technology, Prof. Andrew Nok who briefed Journalists on the activities of the...- ProfRem
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Business Naira Watch: Tracking Nigeria's Currency [Day 32]
The naira on Friday down 1.22% to N318.91k to close trading at the inter-bank market, thirty-two days after the Central Bank of Nigeria removed peg on the currency. At the parallel market, the naira retreated from N400 to a dollar on Thursday to N395 to dollar. Analysts believed that the...- ProfRem
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Metro WAEC Releases 2016 WASSCE Results
The West African Examinations Council (WAEC), Friday, announced the release of the 2016 results of the West African Senior School Certificate Examination (WASSCE). The body said its withholding the results of 137,295, representing 8.89% candidates. According to the released results, a total of...- ProfRem
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Politics Fayose, Mimiko Far Better Than Ambode - PDP
The Lagos State chapter of the Peoples Democratic Party has faulted a poll by the African Leadership Magazine which rated Governor Akinwunmi Ambode as the best performing governor in the country. The Lagos PDP said the Ekiti State Governor, Ayodele Fayose, and his Ondo State counterpart, Dr...- ProfRem
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