The Nigeria Senate has described the power distribution companies (DisCos) in the country as complete failures which have added nothing significant to the Nigerian power sector. To this effect, they called for the overhauling of the sector for optimal performance. Senator Danjuma Goje, a member of the Senate Committee on Power made the remarks during The post ‘DisCos are complete failures, must be overhauled’, Senate says as minister hints at unbundling appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities heaved a sigh of relief as the losing streak on the bourse was halted on Monday, April 22, 2024 as investors recorded a profit of N70bn at the end of trading. This followed the boom in the share value of stocks like Japaul Gold, GTCO, FTN Cocoa, Universal Insurance Company The post NGX: Bearish trend halted as investors gain N70.87bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The World Bank has identified challenges associated with fuel prices and low non-oil revenue as factors that may hamper the Federal Government’s move to maximise the benefits of its economic reforms. In its Macro Poverty Outlook for Nigeria for April 2024, the Bretton Wood institution stressed the need for Nigeria to fix issues with fuel The post World Bank lists factors that will hamper Nigeria’s economic reforms appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Bearish sentiment persisted in the market past week with investors incurring N1.57trn in losses as market capitalization dipped to N56.30trn from N57.86trn recorded the previous week. Similarly, the benchmark All-Share Index (ASI) fell -2.71% to 99,539.75 points from 102,314.56 points the previous week, signalling its fifth consecutive weekly losses. Amid the bearish sentiment, stocks like The post FTN Cocoa, RT Briscoes, Guinness, Nem, top list of stocks to watch this week appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

First Bank of Nigeria Limited has appointed Olusegun Alebiosu as its acting Managing Director with effect from this month. This appointment is however subject to the approval of the Central Bank of Nigeria, (CBN). Alebiosu’s appointment followed the reignation of Dr Adesola Adeduntan as the bank’s MD|Chief Executive Officer last Saturday. The bank announced the The post First Bank names Alebiosu acting MD appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso has advised Nigerians to expect an up and down movement in the rate of the foreign exchange while assuring that theapex bank is doing everything possible to achieve a stable FX rate. He gave the advice on Saturday during a press conference held at The post Expect ups and downs in FX rate movement, CBN boss, Cardoso advises appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Amid the sudden resignation of the Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Adesola Adeduntan, FBN Holdings Plc has announced the cancellation of its proposed Extraordinary General Meeting (EGM). The EGM was scheduled to be held virtually on Tuesday, April 30, 2024 where plans for the consideration and authorisation of the company to The post Amid CEO’s sudden resignation, First Bank halts plan to raise N300bn fresh capital appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Federal Government is set to receive a $2.2 billion loan from the World Bank at a low interest rate of about 1%. This is even as the country is poised to get another budget support facility from the African Development Bank (AfDB). Wale Edun, Minister of Finance, and Coordinating Minister of the Economy, Wale The post Nigeria goes for $2.2bn loan from World Bank, budgetary support from AfDB appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Federal Competition and Consumer Protection Commission (FCCPC) has pinpointed several factors behind the ongoing surge in consumer prices, according to a comprehensive investigation. During a market surveillance operation on Friday in Masaka Markets, Nasarawa State, FCCPC Director of Surveillance and Investigation, Mrs. B.A. Adeyinka, revealed the findings to journalists. “We’ve conducted in-depth interviews with The post FCCPC pinpoints factors responsible for rising consumer goods prices appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

President Bola Tinubu has approved the appointment of Mr. Olusegun Ayo Omosehin as head of the National Insurance Commission (NAICOM). He also appointed Ms. Halima Kyari as the commission’s chairperson. The Special Adviser on Media and Publicity to the President, Ajuri Ngelale, confirmed the development in a statement on Friday in Abuja. President Tinubu equally The post Tinubu rings changes at NAICOM, appoints Omosehin Commissioner for Insurance appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.