The Nigerian government spent a whopping N3.63 trillion on servicing its external and domestic debts in 2022. This is according to data obtained from the Debt...
MTN Nigeria, on Thursday, said it had reduced its share price to N232.68 in a bid to persuade shareholders to waive dividend payments for its Scrip...
In 2016, the Auditor General released a report indicating that the Nigerian National Petroleum Corporation Limited (NNPCL) was unable to account for crude oil deliveries worth...
BUA Foods, owned by billionaire, Rabiu Abdulsamad, was forced to cut production of its revenue-driven products, sugar, flour and pasta in 2022. In an explanatory note...
The equity capitalisation of the Nigerian stock exchange depreciated by –1.88 per cent on Wednesday, losing N553.70 billion. Consequently, the Nigerian bourse’s capitalisation nosedived to N28.88...
The World Bank has predicted a 2.8% slow economic growth for Nigeria in 2023 ahead of a new government. The global bank in its latest Africa...
Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group has reported a profit before tax (PBT) of N4.5 billion, representing a 172 percent rise year-on-year, compared...
Delay in renewal of work permits for Air Peace’s pilots has disrupted the operations of the domestic airlines, leading to rescheduling of flights for three days....
Nigerian bourse reported a N81.14 billion loss in the stock market capitalisation on Tuesday, closing at N29.43 trillion, below the N29.51 trillion recorded on Monday. Also,...
The National Bureau of Statistics (NBS) on Tuesday said foreign investment in Nigeria decreased to $5.3 billion in 2022 compared to the $6.7 billion recorded in...
KPMG in a new report has predicted that Nigeria’s Gross Domestic Product (GDP) will grow at a slow pace of 3 percent in 2023. The report...
The Nigerian National Petroleum Company Limited (NNPCL) has refuted allegations making the rounds regarding theft and payment of ghost consultants by the company. NNPCL was accused...
Over $300 million has been invested in Access Bank by its parent company, Access Holdings, to further strengthen the lender amid a series of acquisitions by...
On Monday, Elon Musk, the owner and Chief Executive Officer of Twitter, changed the logo of the social media platform to a logo of the Shiba...
Macroeconomic intelligence provider, FocusEconomics, has disclosed in its April 2023 Consensus Forecast report that Nigeria faces a fiscal risk due to various government policies. The report...
Two Federal Government of Nigeria (FGN) savings bonds have been issued by the Debt Management Office (DMO), with the subscription period falling between April 3, and...
Trading on Sterling Bank shares has been suspended by the capital market authority, Nigerian Exchange Limited (NGX), as the lender restructures its operation. In a document...
The stock market capitalisation depreciated by –0.08 per cent on Monday, representing a loss of N26.14 billion, as it dropped from N29.54 trillion to N29.51 trillion....
The Organisation of the Petroleum Exporting Countries and its allies, OPEC+ which includes Saudi Arabia, Iraq and several Gulf states have announced a surprise oil production...
Stocks to watch list this week are Oando, Prestige and First Bank. The companies made the list following operational and stock market activities last week. Ripples...
There was a young man named Tunde who was born and raised in Lagos, Nigeria. However, as he got older, he decided to move abroad in...
On the trading floor, a total turnover of 2.071 billion shares exchanged investors’ hands between Monday and Friday last week in 17,917 deals worth N17.562 billion....
The Debt Management Office (DMO) has disclosed that Nigerian state governors borrowed a total of N870 billion from local banks and investors in 2022. This borrowing...
First Bank of Nigeria (FBN) and Union Bank of Nigeria have delayed the release of their Audited Financial Statements for the period ending December 31, 2022....
The chief economist of KPMG Nigeria, Oyeyemi Kale, said Nigeria’s ability to repay its N46.25 trillion loan is poor due to low revenue generation. Kale, in...
Wema Bank Plc has announced the appointment of Moruf Oseni as the substantive Managing Director and Chief Executive Officer of the lender, effective April 1, 2023....
The Nigerian stock market reported a –0.33 per cent decline in equity capitalisation on Friday, resulting in N98.52 billion loss. Consequently, the market capitalisation tumbled to...
The World Bank has announced that Indian-American business executive, Ajay Banga, will be appointed to replace David Malpass, the President of the global financial institution. Banga,...
First Bank has denied allegation of forgery filed against the company by the Federal Government after one of its managers allegedly colluded to dispose a school...
The United Bank for Africa (UBA) reported 43.4 per cent growth in its profit after tax for the financial period of 2022, with its electronic banking...
Nigerians’ love for celebrations, fun, and a lavish lifestyle has propelled champagne consumption in the country to an eight-year high, despite economic challenges. Comité Champagne, a...
Nigeria’s market capitalisation appreciated to N29.64 trillion on Thursday, as it grew by 1.50 per cent or N440.93 billion, from the previous day’s N29.20 trillion. The...
Sterling Bank has banned the company’s directors and other individuals with access to sensitive materials relating to the firm’s financials from trading its shares. The financial...
Transnational Corporation (Transcorp) Plc’s has disclosed that its operating profit grew by N11.64 billion or 21.25 per cent, as it closed last year with N66.42 billion....
Nigerian bourse ended trading with N250 billion gain on Wednesday after the market capitalisation recovered from previous day’s loss by appreciating 0.90 per cent. The stock...
The Central Bank of Nigeria (CBN) has released a new guideline for financial institutions interested in converting or re-categorizing their licenses. In recent months, Zenith, Access,...
Zenith Bank has announced a 24 percent rise in gross earnings to N945.5 billion from N765.6 billion reported in the previous year. According to the audited...
The world of cryptocurrency is doubtlessly an ever-evolving one and with the advances in technology, the associated risks are also increasing. As such, investors need to...
The Chief Executive Officer of Oando Plc, Wale Tinubu, has stated that increase in militant activities and sabotage in Niger Delta dragged hydrocarbon production down in...
Payday, a financial technology company founded by Favour Ori, has secured $3 million in a seed round to fund its expansion into the United Kingdom and...
Billionaire and chairman of Geregu Power, Femi Otedola, has ridiculed past and present Nigerian governments for failing to increase Nigeria’s power generating capacity. Otedola said since...
Shola Akinlade, the 38-year-old co-founder of Nigerian online payment platform Paystack, has added Danish football club Aarhus Fremad to his number of assets. On Tuesday, March...
Some investors in Nigerian stock market lost N341.09 billion on Tuesday after the equity capitalisation depreciated from Monday’s N29.28 trillion. The loss dragged the market capitalisation...
United Capital, led by Peter Ashade, faces an operational risk as the asset management and securities trading company is dragged into lawsuits that could lead to...
Cadbury Nigeria reported its total turnover for the financial year of 2022 grew by 30.3 per cent, with profit after tax following closely after growing by...
The Nigerian National Petroleum Company Limited (NNPCL) has released 418 million litres of petrol between March 18 and 24 into the Nigerian market. This was disclosed...
Nigerian stock market capitalisation plunged by –2.08 per cent on Monday, closing down at N29.28 trillion. This wiped off N621.99 billion from the Nigerian bourse’s total...
The Central Bank of Nigeria (CBN) has disclosed that its loans to government have increased by N3.77 trillion during the first two months of 2023 Ripples...
The Chief Executive Officer of Stanbic IBTC Holdings Plc, Demola Sogunle, has increased his stake in the Deposit Money Bank (DMB). Sogunle acquired 1.52 million shares...
Unilever Nigeria, Seplat and Access Bank made it into the stocks to watch list this week due to various reasons that are not capital market related....
