Economy
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DMO raises N615.6bn Sukuk funds in 4 years
The Debt Management Office (DMO) has raised N615.6 billion through Sukuk for the rehabilitation and construction of new roads across the country in four years. The Director-General of DMO, Ms Patience Oniha, made this known in her presentation titled: “Nigeria Public Debt – Some Considerations,” at the Capital Market Correspondents Association of Nigeria (CAMCAN) 2022 conference in Lagos. Oniha said…
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Nigeria has no plans to issue Eurobonds, says Minister of Finance
The Minister of Finance, Mrs. Zainab Ahmed, has confirmed that the government has no plans to issue Eurobonds in 2023. She disclosed this on Wednesday while responding to questions about Nigeria’s Eurobond borrowing plans. In exchange for Eurobonds, Zainab Ahmed insists, Nigeria will focus on concessionary loans from the likes of the World Bank, ADB, or Islamic Bank. According to…
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Nigeria’s inflation rate rises to 21.47% in Nov, says NBS
Nigeria’s inflation rose to 21.47per cent in November from 21.09 per cent recorded in October, representing the 10th consecutively monthly increase since the start of the year. The latest inflation report by the National Bureau of Statistics (NBS) showed that Nigeria’s inflation rate has now risen to its highest level since September 2005 when the rate stood at 24.32per cent.…
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NCC warns as ‘Schoolyard Bully” malware attack over 300,000 android devices
…tells users to download only apps from official sites, stores The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has warned Nigerians of a malware that steals Facebook account credentials, known as “Schoolyard Bully”. According to a statement by the Director, Public Affairs, NCC, Reuben Muoka, the malware has infected over 300,000 android devices. The NCC advisory reminded all…
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Buhari restates commitment to 30 gigawatts energy target by 2030
…calls on US for financial, technical assistance President Muhammadu Buhari Tuesday in Washington, USA, restated the determination of the Nigerian government towards achieving the vision of 30 Gigawatts of energy by the year 2030. The President said this during the discussion panel on Just Energy Transition at the ongoing US-Africa Leaders Summit in the American city. He used the opportunity…
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Stock market depreciates by 0.09%
Bearish sentiment drove the stock market of the Nigerian Exchange Limited (NGX) on Tuesday as the NGX All-Share Index closed 0.09 per cent lower. In summary, the All-Share Index (ASI) declined by 45.54 basis points or 0.09 per cent, to close at 48,853.54 basis points. Similarly, the overall market capitalisation value shed N25 billion to close at N26.609 trillion. Investor…
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FG allows Nigerians abroad with expired passports to return
The Federal Government says Nigerians with expired passports can return to the country. This was contained in a letter signed by B. M. Lawal, Special Assistant on Foreign Desk to the Comptroller General of the Nigerian Immigration Service to the Minister of Foreign Affairs. The letter directed that all airlines should allow Nigerians in this category board their flights back…
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Nigeria’s public debt hits N44trn, says DMO
Nigeria’s public debt reached N44.6 trillion in the third quarter of this year (Q3 in 2022). This represents a 2.9 per cent quarter-on-quarter decline when compared to N42.84 trillion recorded in Q2 in 2022. The Debt Management Office (DMO) disclosed in a press statement on its website noting that the increase in public debt was due to new borrowings by…
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NRC announces new take-off time for Kaduna-Abuja train service
The Nigerian Railway Corporation (NRC) has announced the adjustment of take-off time schedule for its last two trains from Idu (Abuja) to Rigasa (Kaduna) and vice versa. Mr Pascal Nnorli, the Manager, Abuja-Kaduna Train Service (AKTS), told the News Agency of Nigeria (NAN) on Friday that the adjustments were to ensure early arrival of the trains to its destinations. According…
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N1trn old currencies deposited in banks – Emefiele
…insists on cash limits Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says over N1 trillion has been deposited by Nigerians since the apex bank redesigned the naira. Emefiele made this known while speaking with journalists after his visit to President Muhammadu Buhari in Daura on Thursday. The CBN governor, who also spoke on the cash withdrawal limits put in…
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