Stock Market Slips Into Negative Territory As Bears Consolidate Hold

by Ikokwu Ikembaon February 29, 2020
The Nigerian equities market continued with the bearish trend following weak investors’ sentiment and negative reaction to unimpressive corporate earnings. As a result, the Nigerian Stock Exchange (NSE) All-Share Index fell by 0.62 per cent to close at 26,808.24, pushing the year-to-date(YTD) performance into negative territory. Specifically, the NSE ASI has recorded YTD decline of […]

Finally, Malawi legalises growing of cannabis

by Ikokwu Ikembaon February 28, 2020
Malawi has become the latest southern African country to legalise the growing, selling and exporting of cannabis. Recreational smokers consider, “Malawi Gold”, as they call it, to be one of the finest forms of the drug. But the authorities have stopped short of legalising it for personal use. It will be used to make medicines […]

Nigeria’s communications regulator sued over warrantless access to ‘call data’

by Ikokwu Ikembaon February 27, 2020
Laws and Rights Awareness Initiative, a Nigerian nongovernmental organization, filed a lawsuit on February 25 against the Nigerian Communications Commission (NCC) over regulations granting warrantless access to telecom subscribers’ information, including “call data.” The suit claims that accessing the information “violates and will likely further violate” Nigerians’ constitutional right to privacy, according to a copy […]

NIPC records huge investment drop

by Ikokwu Ikembaon February 24, 2020
Data from the National Pension Commission shows that the Pension Fund Administrators have reduced the amount of funds invested in real estate assets to ₦220 billion as of the end of December 2019. The new amount indicates 2.15 percent of the total assets of the Contributory Pension Scheme, which stood at ₦10.21 trillion during the […]

CBN dismisses reports of nonacceptance of foreign currency cash deposits by DMBs

by Seun Adeuyion February 22, 2020
The Central Bank of Nigeria (CBN) has described as false the report that it has prohibited the acceptance of foreign currency deposits by DMBs. The apex bank via a statement issued on Twitter pointed out that “only transfers into domiciliary accounts can be transferred from such accounts while cash deposits into such accounts can only […]

Senate, Fashola Berate NCC for Defending Telecom Companies

by Ikokwu Ikembaon February 20, 2020
The Nigerian Communication Commission (NCC) came under criticism following an outburst against the commission by the Senate and Minister of Works for openly protecting telecoms companies over increasing cases of dropped calls. The attack came following the public hearing on a motion titled: “Increasing rate of drop calls and other unwholesome practices by telecom network […]