Global Market News

Oil prices rise as heightened geopolitical risk exacerbates supply concern "” Reuters

Oil prices rose in early Asian trading on Monday on concern over tighter global supply brought about by escalating conflict in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Click here for more

Asia shares flat, dollar restrained by Japan caution "” Reuters

Asian shares dithered on Monday as investors worried U.S. inflation data this week could derail the outlook for lower interest rates, while the risk of currency intervention from Japan stalled the yen's decline for the moment. Click here for more

Macroeconomic News

Echoes from Nigeria's Aggressive Monetary Policy Tightening "” This Day

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will commence its 294th meeting today. The two-day meeting, which is the second under the Mr. Olayemi Cardoso-led Central Bank of Nigeria (CBN), comes 25 days after the committee, in a hawkish move, raised the Monetary Policy Rate (MPR), the benchmark interest rate, by 400 basis points to 22.75 percent, from 18.75 percent. Click here for more.

FG plans joint cable protection, disruption lingers in six countries "” Punch

The Federal Government has issued a call for a unified effort among West African nations to protect shared telecommunications infrastructure following a recent internet outage that affected the region. Click here for more.

FG saves N58.4bn from legal cases, vessel demurrage, and others "”The Sun

The Nigerian Shippers' Council (NSC) said it has saved the economy a whooping N58.4 billion through intervention in legal cases, vessel demurrage, and fines imposed on truck owners by the Presidential Standing Task Team (PSTT) between 2021 to 2023. Click here for more.

FX crisis: Stakeholders decry high cost of clearing cargoes at seaports "” The Sun

Stakeholders operating in the nation's ports have decried the high cost of clearing cargo and doing business in the nation's seaports. The scathing development was attributed to unstable foreign exchange and scarcity of dollars. Click here for more.

$7bn FX: OPS threatens to sue banks over rejected applications "” Punch

Some businesses under the aegis of the Organized Private Sector of Nigeria are considering taking legal action against some commercial banks for not honoring forex requests, which have lingered over an extended period. Click here for more.

Company News

NASCON Allied Industries Grow Profit by 151% to N13.73bn, Declares Dividend "" This Day

NASCON Allied Industries has gained more market share even as its profit after tax (PAT) rose by 151 percent to N13. 73 billion for the financial year ended December 31, 2023. A review of the company's 2023 annual results and accounts indicated that profit after tax rose by N8.26 billion compared to the N5.47 billion recorded in 2022. Click here for more.



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