Business

The equities market on Thursday sustained its three-day bullish run as gains in Dangote Cement Plc and 34 others pushed the overall capitalization up by N842 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1,350.00 points or 1.25 per cent to close at 109,172.04 basis points. Also, market capitalisation rose by N842 billion to close at N68.116 trillion.…

The Central Bank of Nigeria (CBN) on Thursday  clarified the newly reviewed N100 charge on withdrawals at another bank’s ATM (Not-On-Us Transactions), stating that the fee applies whether or not the withdrawal amount is up to N20,000. CBN had announced a major revision to its Automated Teller Machine (ATM) transaction fees, effectively eliminating the three free monthly withdrawals previously granted…

L-R: Chairman Editorial Board, Daily Independent, Opeyemi Soyombo; Executive Director (Operations), Nigeria Deposit Insurance Corporation (NDIC), Mustapha M. Ibrahim; Managing Director/Editor-in-Chief, Daily Independent, Omanufeme Steve; MD/CEO NDIC, Bello Hassan; Executive Director (Corporate Services), Emily Osuji; Managing Editor Daily Independent, Kingsley Ighomwenghian; and Abuja Bureau Chief, Samuel Ogidan during formal presentation of Nomination Letter for the Daily Independent Regulatory Agency of…

The Nigerian Railway Corporation (NRC) and APM Terminals Apapa have relaunched the Apapa-Ibadan standard gauge freight rail service, operating on a fixed schedule with departures on Mondays, Wednesdays, and Fridays. Running between the Lagos Port Complex and the NRC Freight Yard in Moniya, Ibadan, the service provides a rail alternative for container transport, easing road congestion. The relaunch follows a…

The 2024 Africa Visa Openness Index (AVOI) has highlighted the urgent need for decisive action to unlock Africa’s economic potential through enhanced mobility. On the sidelines of the 38th AU Summit, the African Union and the African Development Bank (AfDB) co-hosted a High-Level Strategic Dialogue on accelerating visa-free movement for Africa’s transformation and integration. The dialogue focused on leveraging the…

The Nigerian equities market maintained a positive trend yesterday, crossing N67 trillion as investors continued to take positions in stocks, driven by expectations of stronger earnings releases. The All Share Index (ASI) gained by 1,247.54 points, representing a growth of 1.17 per cent to close at 107,822.52 points. Also, market capitalisation gained N779 billion to close at N67.274 trillion. The…

By Kunle Sanni President Bola Tinubu has praised Google CEO Sundar Pichai for the company’s commitment to advancing Artificial Intelligence (AI) and digital transformation in Nigeria. During a meeting with the Google team in Paris on Wednesday, President Tinubu, accompanied by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, discussed a strategic partnership to accelerate Nigeria’s technological…

… as Dangote shines at gateway Trade Fair  Speaker of Ogun State House of Assembly, Hon. Oludaisi Elemide has described as second to none the contributions of the President of Dangote Industries Limited (DIL), Aliko Dangote to Nigeria’s economy and urged him not to be deterred by challenges facing businesses in the country. It was the submission of guests at…

Dangote Petroleum Refinery and Petrochemicals says it has reduced the cost of its diesel to N1,020 per litre, down from N1,075 per litre at the gantry price. In a statement on Tuesday, the company said the reduction was to better serve its customers and Nigerians in general. The PUNCH recalls that when it began diesel production in January 2024, the…

Nigerian telecommunications operators have started implementing the long-awaited 50 per cent tariff hike following regulatory approval from the Nigerian Communications Commission (NCC) as lawmakers moved to halt the rollout, citing economic hardship. A report by Punch stated that the House of Representatives on Tuesday directed the telecom regulator and the Minister of Communications, Innovation, and Digital Economy to suspend the…