Daily Juice
NGX Suspends trading in shares of Ardova, Royal Exchange, and seven others
Herconomy Updates
Lightbox Session
From Canada to Switzerland, and Nigeria; countries around the world are dealing with the worst inflation situation they have experienced in 4 decades.
So how is the everyday working-class Nigerian woman supposed to cope with inflation amidst the many other issues on her mind?
Join us this Thursday as our speakers break down the Nigerian Woman’s Inflation Playbook.
Click on the link below to Pre-register for this session for free!
Share Your Reviews With Us!
We now have over 2,000 savers on our web app and we would like to know how your experience with us has been.
We would love to share your reviews on our website, so don’t hesitate to share your pictures too.
Thank you for trusting Herconomy to help you achieve your savings goals.
Looking forward to your reviews!
Herconomy Budget/ Expenses Tracker
Start actively tracking your spending and making better financial choices with the Budget/ Expenses Tracker Template.
Click on the link below to download the template for free!!! or make a copy of it for yourself.
Local Stories
ASUU strike enters the 140th day, SERAP, others lampoon FG
The Socio-Economic Rights Accountability Project and other education rights groups, such as the Reform Education Nigeria and Education Rights Campaign, have knocked the regime of the President, Major General Muhammadu Buhari (retd.), over the prolonged shutdown of academic activities in the nation’s tertiary institutions. Read more…
UPTH denies death of 14 babies due to power outage
University of Port Harcourt Teaching Hospital (UPTH) has denied the death of 14 babies in its facility due to a power outage. Read more…
Pick Tinubu’s running mate from North-Central, the coalition urges APC
A coalition of stakeholders from the North-East region in the ruling All Progressives Congress have asked the party to pick the running mate of the party’s presidential candidate, Bola Tinubu, from the North Central. Read more…
Northerners won’t back Obi, says Kwankwaso, Labour Party kicks
A former Governor of Kano State and presidential candidate of the New Nigeria People’s Party, Senator Rabiu Kwankwaso, has stated that the electorate in the North won’t vote for the candidate of the Labour Party, Peter Obi, should the latter be the candidate of the proposed NNPP-LP alliance for the 2023 general elections. Read more…
Lagos says the 3.9km Opebi-Ojota link bridge to be ready by June 2023
The Lagos State Government has announced that the 3.9km Opebi-Ojota link bridge would be completed by June 2023. Read more…
International Stories
Sri Lanka energy minister warns petrol stocks about to run dry
Sri Lanka's energy minister has issued a stark warning over the country's fuel stocks as it faces its worst economic crisis in more than 70 years. Read more…
Marmolada glacier collapse in Italy kills six
At least six people have been killed after being caught in an avalanche sparked by the collapse of a glacier in the northern Italian Alps. Read more…
North Korea says the US seeking an excuse for an Asian NATO with South Korea and Japan
North Korea has criticized an agreement between the United States, South Korea and Japan to strengthen military cooperation -- claiming it is part of a US plan to create a military alliance like NATO in the region. Read more…
Ukraine confirms Russia captured the eastern city Lysychansk
Ukraine's military has confirmed that the eastern city of Lysychansk has fallen to Russian forces. Read more…
Business Matters
Bank assets rise by 21% to N64.32tn – CBN
Nigerian banks’ total assets rose by N11.15tn in one year to N64.32tn as of the end of April. Figures obtained from the Central Bank of Nigeria revealed that the assets of the lending institutions had hit N53.17tn in the corresponding period of 2021. The 2022 numbers showed a 21 per cent increase over the period. Read more…
Stock investors gain N5.64trn in H1’22 on improved liquidity
Investors in the Nigerian Exchange Limited (NGX) have recorded N5.64 trillion in capital appreciation in the first half of 2022 (H1’2022) on the back of improved liquidity in the system due to asset reallocation to equities from fixed income. Read more…
Nigerian Stock Market end the first half of 2022 as one of the best in the world
The Nigerian All Share Index closed the first half of 2022 with a gain of about 21.17% year to date (YTD) making it one of the best-performing stock markets in the world. Read more…
NGX Suspends trading in shares of Ardova, Royal Exchange, and seven others
The seven companies are Niger Insurance, C&I Leasing, African Alliance Insurance, Coronation Insurance, Ekocorp, Premier Paints and Mutual Benefits Assurance. Read more…
Lagos pays N42bn pension entitlements to 11,349 retirees
Lagos State Government has paid N42bn accrued pension rights to 11,349 retirees in the state. The Commissioner for Establishments, Training And Pensions, Mrs Ajibola Ponnle, disclosed this during the 95th retirement bond certificate presentation ceremony to retirees of the Lagos State public service. Read more…
Nigerian adults with bank accounts hit 45% — World Bank
The number of Nigerians with accounts at regulated institutions such as a bank, credit unions, microfinance institutions, post offices, or mobile money service providers, increased by 16 per cent to 45 per cent in 2021, according to the World Bank. Read more…
Tech Updates
Concerns for Nigerian startups as 126 global firms laid off 15,781 employees in June 2022
Amidst rising inflation and a gloomy economic outlook, tech startups across the globe bit the bullet in June as they laid off a total of 15,781 staff in the month. This figure represents the number of workers sacked by 126 startups that made their figures public, as many others announced layoffs in the month without disclosing the number of staff. Read more…
Metro
Lagos seals 137 buildings over standards violation
The Lagos State Physical Planning Permit Authority has sealed no fewer than 137 properties in different parts of the state due to building irregularities. Read more…
Quote of the Day
“If you devote yourself entirely to a noble pursuit, there is no way you cannot find beauty and fulfilment.”
—Daniel Gillies