The Debt Management Office (DMO) has allayed the fears on the transfer of the Federal Government’s N22.7 trillion debt burden to Nigerians. The Senate on Thursday...
The Group Managing Director and Chief Executive Officer of Access Holdings, Herbert Wigwe, continued to splash the cash on shares in a bid to retain control...
The equity capitalization in the Nigerian capital market rose to N28.56 trillion at the close of trading on Friday. The figure represents 0.33 percent or N95.05...
Nestle Nigeria’s revenue from exported products fell by N1.76 billion or 87.3 per cent between January to March 2023, Ripples Nigeria has learnt. The company is...
Airtel Nigeria has appointed a new Managing Director and Chief Executive Officer, Carl Cruz, to replace C Surendran, effective on Friday, May 5. The telecommunications company...
Seplat Energy has denied reports that the Federal High Court in Abuja has restrained the oil and gas company from holding its 2023 Annual General Meeting...
Sterling Bank recorded a 16.64 per cent year-on-year increase in its gross earnings for 2022, closing the year with N175.14 billion. The year before, Sterling Bank...
The Nigerian bourse recovered from Wednesday’s loss with a 0.15 percent appreciation in the stock market’s equity capitalisation on Thursday. According to the market data, the...
Coinbase, a U.S.-based cryptocurrency exchange, has informed crypto traders that they would be unable to obtain loans from the exchange starting from May 10, 2023. The...
Zenith Bank Plc Wednesday night confirmed a fire incident at its storage facility in Lagos State. In a post on its verified Facebook page, the bank...
The management of Air Peace on Wednesday accused the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of targeting the airline amid its dispute...
The equity capitalization in the Nigerian capital market crashed to N28.42 trillion on Wednesday. The loss was the capital market’s second in the last 24 hours....
The Central Bank of Angola, Banco Nacional de Angola, has approved Access Bank’s plan to acquire the majority equity stake in the country’s lender, Finibanco Angola...
Sterling Bank was fined N218 million for breaching nine regulations of the Central Bank of Nigeria (CBN), the company’s annual financial statement for the period of...
Nigerian Breweries has disclosed that the company is in need of N25 billion to meet its capital requirement for the brewer’s operation. The drink producer made...
Data from the National Bureau of Statistics has revealed that Nigerian states were forced to surrender a staggering N78 billion in allocations to pay off external...
The equity capitalization in the Nigerian capital market crashed to N28.46 trillion at the close of trading on Tuesday. The figure was -0.23 percent or N65.8...
MTN Nigeria is battling with several lawsuits that have amounted to legal claims of over N1.48 billion, the company’s first quarter (Q1) financial result for 2023...
Access Bank, a subsidiary of Access Holdings, has increased its controlling stake in the fintech company, E-tranzact, to 37.56 per cent as of December 2022. Ripples...
Nigerian banks extended N1.3 trillion in credit to private sector players during the first quarter of 2023, bringing the total to N43 trillion. The figures were...
The International Monetary Fund (IMF) has warned that Nigeria and other countries in Sub-Saharan Africa could lose $10 billion of Foreign Direct Investment (FDI) should the...
The Securities and Exchange Commission (SEC) has blacklisted six online trading companies in its ongoing bid to sanitise the country’s e-commerce space. In a circular issued...
Fidelity Bank Plc generated N337.05 billion in revenue in 2022. The figure was a 34.4 percent increase over the N250.776 billion recorded by the lender in...
AbdulSamad Rabiu, the Nigerian business magnate and second richest man in the country, had an exceptional month of April, according to the latest Forbes data. Rabiu’s...
Zenith Bank generated N269.99 billion in revenue in the first quarter of 2023, growing the turnover by N40.9 per cent year-on-year. This was disclosed in the...
The Organised Private Sector (OPS) has appealed to the Federal Government to halt the implementation of proposed new taxes, stating that businesses are currently struggling to...
Transnational Corporation (Transcorp) Plc, Access Holdings and Nigerian Breweries are some of the stocks to watch out for this week. Ripples Nigeria stocks watchlist is a...
Dangote Cement Plc, BUA Cement Plc, and Lafarge Cement Plc, the three cement producers listed on the Nigerian Exchange Limited (NGX), collectively generated N604.89 billion in...
The Central Bank of Nigeria (CBN) has dismissed a report on the planned phase-out of the new Naira notes from circulation. The Acting Director of Corporate...
The deposits in commercial banks operating in Nigeria dropped in the first quarter of 2023, data from the financial regulator, the Central Bank of Nigeria (CBN),...
After returning from the Eid el-Fitr public holiday on April 24, the Nigerian stock market reported equity investors invested N59.007 billion to trade 14.029 billion shares...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
The National Bureau of Statistics (NBS) has revealed that only 6.1 percent of the population interviewed for the Global MICS Programme survey is aware of and...
The billionaire businessman, Femi Otedola’s exit from Transnational Corporation (Transcorp) has resulted in a 9.93 percent drop in shareholders’ investment value. Ripples Nigeria had reported that...
Tony Elumelu has confirmed that he bought another 1.99 billion shares in Transnational Corporation (Transcorp), while Otedola stayed silent amid exit reports. Ripples Nigeria learnt that...
A customer who visited a commercial bank in Ikeja, Lagos to withdraw N50,000 cash was paid with the old naira notes. The customer noticed that others...
The Group Managing Director and Chief Executive Officer of Access Holdings, Herbert Wigwe, has increased his stake in the financial institution to 8.13 percent. This followed...
The value of investments in the Nigerian capital market rose to N28.53 trillion at the close of trading on Friday. This represents a N91.27 billion or...
Bankers in Nigeria have given reasons for the prevalence of old naira notes in circulation with the deadline for their withdrawal about eight months away. The...
Femi Otedola has reportedly sold his 2.47 billion shares in Transnational Corporation (Transcorp) to Tony Elumelu, bringing an end to the powerplay between the billionaires. According...
Airlines’ exchange rate has surged from N582 per dollar to N610 per dollar, signaling an imminent increase in international airfares ticket. The surge in rate is...
Femi Otedola has again increased his stake in Transnational Corporation (Transcorp) Plc amid a takeover move that was foiled by the company’s Chairman, Tony Elumelu. In...
The Chief Executive Officer of MTN Nigeria, Karl Toriola, said the telecommunications company bore the brunt of the side effect of the Naira redesign policy of...
Lagos, Nigeria, April 27, 2023: Fidelity Bank Plc released its 2022 Audited Financial Statements on the Nigerian bourse on Thursday. The results showed a 34.4% growth...
The equity capitalization in the Nigerian capital market rose to N28.44 trillion at the close of trading on Thursday. This represents a N76.1 billion or 0.26...
Tony Elumelu spent over N23 billion to tighten his control in Transnational Corporation (Transcorp) after Femi Otedola displaced him as the single largest majority investor in...
Nigerian Breweries’ majority investor in Nigeria, Kolawole B. Jamodu, will exit the company after 14 years. He will officially leave the company on April 30, 2023....
Customers of Access Holdings plc, Guaranty Trust Holding Plc, and United Bank for Africa Plc (UBA) in Nigeria made a combined total of N7.19 trillion in...
The operation of Nigerian Breweries was negatively impacted by the Naira redesign policy of the Central Bank of Nigeria (CBN) in the first quarter (Q1) of...
Dangote Sugar and BUA Foods have collectively proposed N99.22 billion dividends for 2022 subject to approval by shareholders In its 2022 financial report, BUA Foods said...
