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23

Sep
Market Update

Stock market extends decline, Closes lower by 0.33%

The Nigerian stock market on Friday declined further as the All Share Index was down by 0.33% to close at 49,026.62 points from the previous close of 49,190.34 points. The Market Capitalisation dropped by 0.33% to close at N26.445 trillion from the previous close of N26.533 trillion, thereby adding N88 […]

23

Sep
Business & Economy

Retirement: PenCom tasks employers on employees’ benefits

The National Pension Commission (PenCom) has urged employers to provide more benefits to their employees upon retirement. This is against the agitations by some employees and retirees in the public service to be exempted from the Contributory Pension Scheme (CPS), The Director-General, PenCom, Mrs. Aisha Dahir-Umar in a statement, said the pension contributions[…]

23

Sep
Money Market

Nigerian banks suspend naira card transactions abroad

Nigerian Banks have announced temporary suspension of overseas Automated Teller Machine (ATM) naira card transactions to preserve foreign exchange reserves. The CBN rate sheet showed the naira exchanges at N430/$1 at the Investors’ and Exporters (I&E) forex window while black market rate was at N710/$, creating N280/$ premium between both[…]

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