Two runways in the Murtala Mohammed International Airport (MMIA) have been shutdown by the Federal Airports Authority of Nigeria (FAAN). FAAN, in a post on Twitter...
Despite current cash scarcity, Nigeria’s electronic payment system notably declined in February 2023. Data obtained from the Nigeria Inter-Bank Settlement System showed that Nigerians exchange N37.67...
The stocks to watch list this week includes Seplat, Dangote Cement and Bank stocks as the Nigerian stock exchange resumes for another trading week. Ripples Nigeria...
Saudi Arabia’s state-owned oil corporation, Aramco, generated $161.1 billion as net profit in 2022. The figure was 46 percent higher than the profit reported by Aramco...
The Nigeria Bureau of Statistics (NBS) has revealed that Nigeria exported cigarettes worth N57 billion in 2022. The agency disclosed this in its foreign trade report...
At the end of trading last week, a total of 1.023 billion shares, worth N20.221 billion, exchanged investors’ hands in 18,650 deals. The value of 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...
Ten commercial banks in Nigeria have lost N87.4 billion in market value within a week of trading activities (March 2nd, 2023 to March 10th, 2023) on...
Property disputes in Nigeria are a common occurrence, and they often lead to legal battles that can last for years. These disputes can be a result...
The impact of Silicon Valley Bank’s liquidation has spread into the cryptocurrency industry as USD Coin (USDC), the second most valuable Stablecoin, hit an all-time low...
One of the biggest banks in the United States, Silicon Valley Bank, has commenced talks with prospective buyers. This came just as US regulators ordered the...
Investment in the Nigerian bourse lost N14.61 billion or depreciated by -0.04 per cent on Friday, as the stock market capitalisation fell to N30.39 trillion, from...
The National Bureau of Statistics (NBS) has revealed that Nigeria made N21 trillion from the sale of crude oil in 2022. The oil sales recorded is...
Seplat Energy has announced that its Chief Executive Officer, Roger Brown, will be stepping aside temporarily from his role for Samson Ezugworie, the Chief Operating Officer...
The Chief Executive Officer (CEO) of Seplat Energy Plc, Roger Brown, has been barred by a federal high court in Lagos from performing his leadership responsibilities....
Nigeria’s crude oil output rose to 1.3 million barrels per day in February, the highest in 13 months. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed...
The equity capitalization in the Nigerian capital market rose to N30.40 trillion at the close of trading on Thursday. The figure was 0.03 percent or N11.43...
Dangote Cement, a manufacturing firm owned largely by Aliko Dangote, is restrategising to consolidate ownership and reduce the cost of dividends on cash flow. The company...
Seplat Energy Plc chairman, Basil Omiyi, and the board of directors have stated that the company’s Chief Executive Officer (CEO) Roger Brown, will discharge his duties...
The Central Bank of Nigeria (CBN) has launched a Regulatory Framework for Open Banking in Nigeria to deepen innovation and increase the range of products available...
Investors with shares in Transfer Express, Cutix, and other equities benefited from the positive output in the Nigerian capital market on Wednesday. After five hours of...
First City Monument Bank (FCMB) has projected its revenue for the second quarter (Q2) of 2023 will fall short of the gross earnings recorded during the...
Many Nigerians are familiar with the spot forex market, where forex transactions are carried out on the spot as seen with bureau de change, but the retail online forex market is where currencies...
The Debt Management Office (DMO) has announced the availability of two tenors of FGN savings bonds for the month of March 2023, and is inviting retail...
Miri Strategic Emerging Markets Fund LP has reduced its stake in the Nigerian Exchange Group (NGX Group), where it holds a substantial stake. The substantial investor...
The equity capitalization in the Nigerian stock market crashed to N30.28 trillion at the close of trading on Tuesday. This was 0.02 percent or N6.96 billion...
Gbenga Shobo has exited his role as the Deputy Managing Director of First Bank of Nigeria (FBN), the financial institution has disclosed. Shobo joined First Bank’s...
Investors in the securities market have lent MTN Nigeria N125 billion, a corporate document has notified the company’s shareholders and the investing public. On Tuesday, Ripples...
The Nigerian National Petroleum Company (NNPC) Limited has taken over the oil mining lease (OML) 18 from the previous operator, Eroton Exploration and Production Limited. NNPC...
Some Nigerian banks have commenced paying the old 1,000 and 500 naira notes to customers following the Supreme Court judgment, which extended their validity to December...
First Bank of Nigeria Limited has appointed Mr. Oluseyi Oyefeso as Executive Director, Retail Banking for South. In a statement issued on Monday in Lagos, the...
The Nigerian stock market slumped by -0.13 per cent on Monday after the equity capitalisation closed down at N30.29 trillion, against its previous close of N30.33...
Commercial banks are eagerly awaiting a directive from the Central Bank of Nigeria (CBn) on accepting old naira notes. The Supreme Court ruled on March 3,...
The revenue of Transcorp Hotels grew by 46.8 per cent between January and December 2022, the company’s 2022 Consolidated and Separate Financial Statements show. Transcorp Hotels...
The stock market resumes trading this week, with a focus on Wema Bank, Seplat and Zenith Bank on the exchange floor of the Nigerian Exchange Limited...
The Stanbic IBTC has revealed how the scarcity of naira notes arising from the currency redesign by the Central Bank of Nigeria (CBN) crippled activities in...
Investors traded 1.910 billion shares worth N18.436 billion in 20,311 deals last week. This surpassed the 799.848 million shares valued at N29.354 billion that exchanged hands...
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...
Nigerian bourse saw the market capitalisation appreciates by 0.01 per cent to close at N30.33 trillion on Friday, slightly above Thursday’s N30.32 trillion. The sluggish growth...
Zenith Bank has announced that it has established a non-operating Financial Holding Company (HoldCo), a move that will see its current chairman, Jim Ovia, remain at...
Zenith Bank’s Deputy Managing Director (DMD), Adaora Umeoji, has been affected by the new leadership tenure stipulated by the Central Bank of Nigeria (CBN). Umeoji became...
The Central Bank of Nigeria has announced its plans to raise N1.13 trillion through treasury bills in the second quarter of 2023. This represents a significant...
Wema Bank has informed shareholders and the investing public that it plans to raise N25 billion from investors in a private bond issuance. The company disclosed...
The equity capitalization in the Nigerian capital market rose to N30.32 trillion at the close of trading on Thursday. The figure was 0.29 percent or N88.04...
Ecobank Transnational Incorporated (ETI) has appointed Jeremy Awori as its new Chief Executive Officer. The bank disclosed this in a corporate document released on Thursday. Awori’s...
The new tenure rule by the Central Bank of Nigeria (CBN) will compel three banks’ chief executive officers to retire in the next two years. The...
It has been 12 months since Seplat Energy announced that it has entered into agreements with ExxonMobil to acquire the entire share capital of Mobil Producing...
Africa’s richest man Aliko Dangote is set to pocket N292.12 billion in dividend from his cement business after record sales. According to Dangote cement‘s 2022 financial...
The equity capitalization in the Nigerian capital market depreciated by -0.53 percent on Wednesday, a few hours after the All Progressives Congress (APC) candidate, Bola Ahmed...
With Bola Tinubu announced as President-elect in the early hours of Wednesday, come May ending, the All Progressives Congress (APC) member will start implementing his policies...
