Category: Business
Nigeria’s equities market failed to record another session of profit taking as investors on Wednesday August 12 moved to buy stocks like SEPLAT, Airtel Africa, Presco, and others that were hitherto underpriced amid Covid-19 pandemic. Cumulatively, stocks gained about N135billion. The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 1.04percent to 25,141.48 points […]
First Bank Holdings has injected N25 billion into First Bank Limited in a bid to raise its capital adequacy ratio (CAR) above the regulatory benchmark of 15 percent for banks with international banking licences. The fund injected was the proceeds of the company’s divestment from FBN Insurance Limited. Earlier in June, FBN Holdings announced the […]
Nigeria’s currency on Thursday maintained stability at N474 and N475 per dollar on the black market and retail Bureau segment of the foreign exchange market. The foreign exchange market continues to experience significant pressures as a result of low oil prices and remittances occasioned by the COVID-19 pandemic. At the Investors and Exporters […]
Nigeria’s return to democracy in 1999 heralded significant and comprehensive macroeconomic reforms which revivified the country’s yearning for industrial growth through several policies that were geared towards stimulating industrial restructuring. These policies include the establishment of the Bank of Industry in 2000; the 2003 Nigeria Industrial Policy; 2007 National Integrated Industrialisation Development; 2009 Industrial Park […]
New and experienced retail investors can now own a piece of the companies listed on the Nigerian Stock Exchange (NSE) using the i-invest app on their smartphones from the comfort of their offices or homes. The secure investment app, which revolutionized fixedincome trading, now empowers investors in the equities market to execute trades during trading […]
Demand for oil has taken significant beating, thanks to economic fallouts from the coronavirus (COVID-19) crisis, and Nigeria needs to watch closely how oil majors are responding by fundamentally reshaping their business models. The three months ending June saw international oil companies beginning to implement a paradigm shift in strategy.
The price of bitcoin jumped above $12,000 on Monday morning for the second time in recent weeks rising from $11,750 in a move some experts attribute to the kick-off on Monday of the Grayscale’s national ad campaign in the US. Barry Silbert, the founder and CEO of Digital Currency Group, the parent company of Grayscale Investments, […]
The suspended acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has said the reports linking him to N550 million money laundering with which he allegedly bought property in Dubai in connection with Prophet Emmanuel Omale has now been refuted. Counsel to Magu, Tosin Ojaomo, told BusinessDay on Monday that the concerned bank, […]
In his inaugural speech for his second term in office in May, 2019, President Buhari stated that the principal thrust of his new Administration is to consolidate on the achievements of the previous four years, correct the lapses inevitable in all human endeavours and tackle the new challenges the country is faced with and chart […]
The bank said these factors have contributed towards limiting the number of girls that have access to secondary education. “If nothing is done, 1.3 million girls out of the 1.85 million who began primary school in 2017/2018 in the northern states will drop out before reaching the last year of junior secondary school.” The group, […]
On August 1, a new policy that will deny serial bad debtors any cover to operate went live in the Nigerian banking system. The Central Bank of Nigeria (CBN) says the Global Standing Instruction (GSI) policy will facilitate improved credit repayment culture in the country; reduce non-performing loans (NPLs), and promote watch-listing of chronic loan defaulters in […]
Electricity consumers in the country have expressed disappointment over the metering scheme introduced by the Federal Government last year as meter deployment by distribution companies has slowed down. The Nigerian Electricity Regulatory Commission had on March 8, 2018 approved the Meter Asset Provider regulations, aimed at fast-tracking the closure of the metering gap in the […]
The Nigerian National Petroleum Corporation (NNPC) has explained the parametres for employment as well as career progression in the corporation, using the recently concluded Graduate Trainee employment process as well as top Management promotion exercise executed by the corporation as an illustration. The National Oil company says unblemished academic competence, logical thinking, ability to engage […]
Operators in the downstream sector of the oil and gas sector have asked the Federal Government to unveil a pricing formula that will guide the monthly adjustments in the pump price of premium motor spirit (PMS) otherwise known as petrol in order to avoid dislocations at the retail end of the value-chain. According to the […]
Nigeria’s economy could shrink as much as 8.9% in 2020 in a worst-case scenario without stimulus, Finance Minister Zainab Ahmed said on Thursday, a deeper recession than forecast after oil prices plunged due to the coronavirus pandemic. Ahmed told Nigeria’s highest economic advisory body, the National Economic Council, that the contraction could reach 4.4% in […]
