Global Market News

Asia shares rise on prospect of softer Trump tariffs"” Reuters

Asia shares rose on Tuesday, tracking Wall Street's positive lead and as some investors hoped incoming U.S. President-elect Donald Trump could adopt a less aggressive tariff stance than promised when he takes office. Click here for more.

Oil prices extend losses, firmer dollar and supply outlook weigh"” Reuters

Oil prices extended losses into a second straight session on Tuesday on technical correction after last week's rally, while forecasts for ample supply and a firm dollar also weighed. Click here for more.

Macroeconomic News

IMTO inflows rise 63.7% in nine months "" CBN"” Punch

The Central Bank of Nigeria has reported a 63.7 per cent increase in international money transfer operator inflows during the first nine months of 2024. According to the latest quarterly statistical bulletin released by the apex bank, inflows rose from $2.33bn recorded during the same period in 2023 to $3.82bn in 2024. Click here for more.

NCC's tariff increase will lead to 40% rise in telecom service prices ""NATCOMS"” The Sun

The National Association of Telecoms Subscribers (NATCOMS) has strongly opposed the purported recent approval of a tariff hike by the Nigerian Communications Commission (NCC), warning that the increase will lead to a 40% rise in telecommunication service prices, further burdening Nigerian consumers. Click here for more.

NERC approves 120% tariff increase for Aba Power"” Daily Trust

The Nigerian Electricity Regulatory Commission (NERC) has approved a 120 per cent tariff increase for electricity customers in Aba Power. The new price approval for Band A-MD1 customers is now N236.41/KWH from N107.5/kWh and Band A-MD2 is now N241.44/KWH from N109.79/kWh. Click here for more.

OAGF indicts NNPC in N514bn transactions"” Punch

The Office of Auditor-General for the Federation has uncovered at least four major financial infractions amounting to N514bn in the operations of the Nigerian National Petroleum Company Limited for the financial year ending December 31, 2021. Click here for more.

Company News

CBN, SEC approve GTCO's N209 billion equity capital offer"” Punch

Guaranty Trust Holding Company Plc has secured the necessary approvals from the Central Bank of Nigeria and the Securities and Exchange Commission for the first tranche of its equity capital raise programme, successfully raising N209.41bn. Click here for more.

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