The Chairman of United Bank for Africa (UBA) Plc, Tony Elumelu has acquired more shares to increase his ownership stake in the lender. This followed a...
The Nigeria Immigration Service (NIS) has blamed the Central Bank of Nigeria (CBN) for the scarcity of international passport booklets in the country. NIS comptroller-general, Idris...
The Managing Director and Chief Executive Officer of Eterna Plc, Benjamin Nwaezeigwe, has acquired shares in the oil and gas company. Nwaezeigwe bought a total of...
The majority shareholder of Geregu Power, Femi Otedola, has sold part of his shares in the power firm, weeks after exiting Transnational Corporation (Transcorp) Plc. Otedola...
The Naira closed the official market with a 0.11 per cent increase in value, as the Dollar rate settled at N462.25 kobo/$1 on Tuesday. At the...
Nigerian bourse ended trading on Tuesday with 0.04 per cent or N14.09 billion increase in market capitalisation. The equity valuation rose from N28.62 trillion to N28.64...
The Nigerian Communications Commission (NCC) generated N117.36 billion from Airtel Nigeria and MTN Nigeria after both firms renewed their 3G spectrum. Airtel Nigeria paid N58.70 billion...
MTN Nigeria has agreed to a N4.25 billion spectrum deal with Natcom Development and Investment Limited (NTEL). Details of the deal showed MTN paid N4.25 billion...
The majority shareholder of Union Bank of Nigeria (UBN) Plc, Titan Trust Bank Limited, has offered N12.18 billion to buy out the minority investors in the...
Trading in the foreign exchange official market closed with the Dollar rate hitting N462.78/$1 on Monday, as the value of the Naira depreciated by –0.11 per...
Demands for Multiverse, International Breweries, and other companies’ shares lifted the Nigerian capital market by 0.21 percent on Monday. This indicated that the value of investments...
The Central Bank of Nigeria (CBN) has still not approved the 2022 Annual Financial Statements (AFS) of Unity Bank, and First Bank of Nigeria (FBN) Holdings...
World Bank loans to Nigeria increased by 2.94 per cent or $410 million in the first quarter of 2023, according to data from the global financial...
Nigerian Breweries, Access Holdings and MTN Nigeria are stocks to watch out for this week, as the Nigerian bourse resumes for another trading week. Ripples Nigeria...
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...
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...
The Minister of Communications and Digital Economy, Isa Pantami, has disclosed that the Federal Government has approved a nationwide blockchain policy. Pantami said this on Wednesday,...
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...
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...
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...
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...
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...
Indomie noodles brands in Nigeria will be investigated over allegations of cancer-inducing chemicals detected in the food in Malaysia and Taiwan. According to the health and...
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...
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...
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...
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...
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...
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...
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....
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...
The Nigerian Exchange Limited (NGX) said the capital market authority hopes the policies of Bola Tinubu’s administration will impact positively on the Exchange Traded Funds (ETFs)...
Oando Clean Energy Limited (OCEL) has made an inroad into the transportation business in Lagos State, acquiring and taking delivery of undisclosed number of electric vehicles...