Investors in the stock market yesterday recorded a N510 billion gain after All Share Index (ASI), the key performance measurement barometer in the market, hit a 15-year high. The All-Share Index of Nigerian Exchange Limited (NGX) Tuesday rose by 0.51 percent to 66,490.34 points from 66,151.38 on Monday surpassing the highest value of 66,371.20 recorded on the Exchange on March 5, 2008. The new record also surpassed the high of 66,371.2 basis points, set over 15 years ago on March 5, 2008.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) stated that it has called off the suspension notice earlier, on the sales of products sent to its members since issues of contention have been resolved. The spokesman of the IPMAN office in Maiduguri, Borno State, where the suspension notice emanated from, Abdulkadir Mustapha, has confirmed the suspension via a telephone call, “Yes, the suspension notice is confirmed as genuine but we have already resolved the issue and directed all the members to start dispensing fuel since an hour ago.”
The Director General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala is in a closed door meeting with President Bola Tinubu at the Presidential villa in Abuja. Okonjo-Iweala arrived at the Aso villa alongside the former Minister of State for Health, Dr. Ali Pate at about 2:50pm on Tuesday.
Leading presidential candidate of the Labour Party (LP) Peter Obi has urged Nigerians on the need to bear the current pain and inconvenience occasioned by the redesigning of ₦200, ₦500 and ₦1,000 notes, saying the policy would bring significant long-term economic and social benefits if it is sustained.
The Nigeria Union of Local Government Employees (NULGE) advocates for a 300% salary increment for workers across Nigeria. NULGE National President, Ambali Hakeem who disclosed this in Ilorin, Kwara State, also appeal to the Federal Government of Nigeria to revisit the Local Government Autonomy policy for improve service delivery at the grassroots.
The Central Bank of Nigeria (CBN) through its Governor, Godwin Emefiele has on 29th January 2023 announced a 10 days extension of the deadline from 31st January to 10th February 2023 for the use of old naira cut across the nation. This was made known by the CBN boss, in Daura, Katsina State after meeting and gaining approval of President Muhammadu Buhari for the extension deadline, more so noting that Nigerians will be able to deposit their old naira note directly with the apex bank until the 17th February 2023 as described as "grace period".
The Security and Exchange Commission (SEC) has announced that it has prohibited six online trading platforms from continuing activities. This was contained in a circular issued on Monday by the Commission which stated that the affected platforms were not registered by the SEC, therefore the financial services offered by them were unauthorized.
The supreme court has invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN) and further declared the old N200, N500 and N1000 notes legal tender until December 31, 2023. The apex court on Friday nullified the CBN's redesign policy, stating that it was an affront to the 1999 constitution. It added the President’s disobedience of the February 8 order, is a sign of dictatorship.
President Muhammadu Buhari on Tuesday approved the constitution of a 14-man steering committee to enforce petroleum products supply and compliance with official prices.The committee will be chaired by the President, with the Minister of State for Petroleum Resources, Timipre Sylva, asting as the alternate chairman. Other members of the committee are the minister of finance, budget and national planning; permanent secretary, ministry of petroleum resources; national economic adviser to the president; director-general, Department of State Services (DSS); comptroller-general, Nigeria Custom Service (NCS); the chairman, Economic and Financial Crimes Commission (EFCC) and the commandant-general, Nigerian Security and Civil Defence Corps (NSCDC).