Breaking News in Nigeria Today Wednesday 6th November 2024
Here are some of the Breaking News in Nigeria Today Wednesday 6th November 2024 on some of the nation newspapers .
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Bolstering Share Value Beyond Reconstruction, Buyback
ShareOn Monday October 28, 2024, Transcorp Plc announced a successful completion of its share reconstruction, consolidating the total number of issued shares at a ratio of 1 to 4. cing the total issued and fully paid shares of Transcorp Group from 40.6 billion shares to 10.2 billion shares, the company said it was “a strategic…
New Telegraph.
FirstBank Ghana Unveils Friday Wear
ShareFirstBank Ghana has officially launched its new Friday wear, which, according to the lender, will promote unity and brand identity. In a press release, the bank said the new fabric, which is deeply rooted in its values and identity, will be worn by staff every Friday, symbolising unity and collaboration. The statement said: “The vibrant…
New Telegraph.
Mastercard’s Profit Beats Estimates On Resilient Consumer Spending
SharePayments processor, Mastercard, reported a better-than-expected profit for the third quarter, as customers encouraged by economic stability ramped up their spending, according to Reuters. The news agency said that Mastercard’s results round out a busy earnings week for payments firms, which are being closely scrutinised to assess the health of the U.S. consumer. Although some…
New Telegraph.
Cross-Border Transactions: BIS, Central Banks Partner On ‘Project Mandala
ShareThe Bank for International Settlements (BIS) and its central bank partners have successfully demonstrated with Project Mandala that regulatory compliance can be embedded in cross-border transaction protocols. According to a press release, this experimental project is a collaboration between the BIS Innovation Hub Singapore Centre, the Reserve Bank of Australia, the Bank of Korea, Bank…
New Telegraph.
Analysts: Boosting Service Export’ll Enhance Nigeria’s FX Earnings
ShareAnalysts at FBNQuest Research have harped on the need for Nigeria to promote the development of services export as a way of boosting its foreign exchange earnings and improving its trade balance. The analysts stated this while commenting on the country’s Balance of Payments (BoP) report for Q2’24 recently released by the Central Bank of…
New Telegraph.
Private Sector Credit Momentum Defies MPR Hikes
ShareAccording to Stanbic IBTC Bank’s latest Nigeria Purchasing Managers’ Index (PMI) report, the slump in private sector activity, occasioned by severe inflationary pressures, resulted in the country’s PMI dropping further to 46.9 in October 2024 from 49.8 in September. The report also said that the fall in the PMI in October “signalled a marked deterioration…
New Telegraph.
Food Security: More Pressure On Naira As Wheat Import Gulps $60.38m
ShareAbout 241,543 tonnes of wheat valued at N103 billion ($60.38 million) are expected at Calabar, Tincan Island and Lagos ports this month from nine vessels. At Lagos Port, Nigerian Ports Authority (NPA)’s shipping data revealed that Desert Pioneer would berth this week at Apapa Bulk Terminal Limited (ABTL) with 55,557 tonnes; Desert Spring, 53,495. Also,…
New Telegraph.
Congestion: NPA Clears Bottlenecks At Lagos Port To Reduce Losses
ShareAfter several days of delays, the Nigerian Ports Authority (NPA) has removed some impediments blocking trucking of cargoes in and out of Lagos port. Also, it has ordered the Truck Transit Parks (TTP) to lift the temporary embargo on truck release from pre-gates designated to Lagos Port Complex (LPC), Apapa in order to prevent loss…
New Telegraph.
CBN: Consumer Credit Falls By 42.60% To N4.73trn
ShareConsumer credit outstanding declined by 42.60 per cent to N4.73 trillion in the second quarter of this year compared with N8.24 trillion at end-March 2024, the Central Bank of Nigeria (CBN) has said. The apex bank, which disclosed this in its second quarter 2024 economic report released over the weekend, stated that while personal loans…
New Telegraph.
AmericaDecides2024: Over 83m Voters Have Cast Ballots
ShareAdms of 10 pm Nigerian time, more than 83 million voters have already cast their ballots at the ongoing United States (US) Presidential election. New Telegraph gathered that half of the 161.42 million registered voters still heading to the polls. In Georgia, one of seven key swing states, long lines were forming outside polling stations,…
New Telegraph.
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