Global Market News

Oil rises on U.S. crude storage draw, Fed rate cut hopes"” Reuters

Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Click here for more.

Dollar holds its ground as key inflation data looms"” Reuters

The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy, while the focus on the massive interest rate gap between Japan and the U.S. helped it make some gains on the yen. Click here for more.

Macroeconomic News

Forex crisis: Three states demand $501m loan repayment suspension"” Punch

The state governments of Ekiti, Cross River, and Ogun have proposed a suspension of their foreign debt repayments worth $501m due to severe foreign exchange volatility. Click here for more.

Lagos rakes in N3.9bn from oil derivation payouts"”The Sun

Lagos State Government yesterday disclosed that the sum of N3.911 billion was realised since it became an oil producing state. It also stated that the production has been hampered due to challenges faced by the company managing its exploration. Click here for more.

PoS agents decry CAC's registration order, say customers to pay more"” Leadership

Some Point of Sale (PoS) agents in the FCT have frowned at the new directive of the Corporate Affairs Commission (CAC) for them to register with the commission. Click here for more.

Ukrainian Firm Bids to Invest in Nigeria's Energy Sector"” This Day

A Ukrainian company has offered to generate between 350-500 megawatts of renewable energy in solar and wind technology in Nigeria which will transform it into a power efficient nation. Click here for more.

Tariff hike attracting investors to power sector, says Adelabu"” Punch

Amid calls for the reversal of the Band A tariff hike, the Minister of Power, Adebayo Adelabu, has stated that the policy is attracting local and foreign investors to the power sector. Click here for more.

Company News

Zenith Bank shareholders approve record N125bn dividend"” Punch

The shareholders of Zenith Bank Plc have approved the record N125bn dividend proposed by the group's board of directors. Click here for more.

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