Morning Beats

Interest rate cut drags as fuel scarcity lingers –Report

Hopes for Nigeria’s first rate cut since 2015 dimmed as higher fuel costs in January countered a drop in food prices and kept inflation well outside the Central Bank of Nigeria’s target.Punch

Ex-CBN chief canvasses N500bn national venture capital fund

A former Deputy Governor of the Central Bank of Nigeria, Prof. Kingsley Moghalu, has called for the creation of a N500bn Venture Capital Fund to support entrepreneurship so as to boost the Nigerian economy.Punch

Stock market ends losses, appreciates by N166bn

The Nigerian stock market, on Wednesday, halted a seven-day bearish trend after the Nigerian Stock Exchange market capitalisation (equities) appreciated by N166bn.Punch

TCN increases power transmission with 200MVA transformers

The Transmission Company of Nigeria says it has increased its power evacuation capacity through the installation of two 100 Mega Volt Amps transformers in different transmission substations.Punch

Inflation dropped to 15.13% in January – NBS

The National Bureau of Statistics on Wednesday released the Consumer Price Index, which measures inflation, with the rate dropping year-on-year by 0.24 basis points from 15.37 per cent in December to 15.13 per cent in JanuaryPunch

FirstBank exceeds N1tr mark on 894 quick banking channel

First Bank of Nigeria Limited has recorded giant strides in its Financial Inclusion services delivery, via its 894 quick banking, a Unstructured Supplementary Service Data (USSD) based channel. The banking channel enables customers to access banking services using any type of phone and without data/internet.The Nation

NMRC to stimulate mortgage market for housing affordability

For the country to attain housing sufficiency, there is the need for the construction of affordable houses and access to adequate funding that will make cheaper mortgages possible. This is because affordability is critical in the quest of citizens to own personal homes.The Nation

CBN raises N176b in treasury bills on lower yields

The Central Bank of Nigeria (CBN) has raised N176 billion ($576 million) worth of treasury bills at an auction held yesterday, traders said.The Nation

‘Power generation will increase by 20% in 2035’

The Chief Executive Officer, Seplat Petroleum Development Company Mr. Austin Avuru has said power generation would rise by 20 per cent by 2035.The Nation

Economist raises concern over Britain’s endorsement of Naira as trade currency

As Britain is set to add the Naira as one of its pre-approved currencies, which will allow the UK Export Finance to provide financing for transactions with Nigerian businesses denominated in the local currency, the move may transfer payment liabilities for individual transactions to the government.Vanguard