Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream...
The Nigerian Stock Exchange (NSE) recorded one of the biggest weekly gains this year last week as more funds chased stock, causing the market to return...
This week, Fuel Intellisense, Homefort Energy, Gricd Mote, Kiakia Gas, and Airsynq emerged winners in the Nigerian Oil and Gas Technology (NOGTECH) Hackathon. Through the week,...
The Central Bank of Nigeria ( CBN) has ordered Deposit Money Banks (DMBs) to close all the naira accounts of International Money Transfer Operators (IMTOs) in...
The Nigerian Stock Exchange (NSE) added N295.371 billion on Friday, with market capitalisation crossing the N19 trillion as heavyweight equities like Dangote Cement, MTNN, Ardova, Guinness...
Oil prices dropped from nine-month highs on Friday, with escalating coronavirus infections viewed as a threat to near-term fuel demand and a stronger U.S. dollar also...
Minister of Communications, Isa Pantami has ordered the National Communications Commission (NCC) and the National Identification Management Commission (NIMC) to rescind the N20 charges imposed on...
Naira depreciated against the United States dollar on the black market on Thursday after the Central Bank of Nigeria (CBN) introduced of a new policy, prohibiting...
The Securities and Exchange Commission (SEC) Thursday declared it had initiated a joint review of Nigeria’s 10-year capital markets master plan in collaboration with Financial Sector...
In the last four years, the amount spent by Nigeria, Africa’s largest economy, on importation of used vehicles, popularly known as ‘Tokunbo’, has risen by 983.3%...
The indebtedness of oil & gas and electricity companies in the country to banks as of third quarter end climbed by N200 billion to N5.85 trillion,...
The Nigerian Stock Exchange (NSE) sustained its positive momentum on Thursday on the back of gains by big and mid-cap stocks like Airtel Africa, Dangote Cement,...
The Central Bank of Nigeria (CBN) has ordered switches and processors to immediately stop all domestic currency transfers in respect of foreign remittances through International Money...
Oil prices rose to a 9-month high on Thursday after government data indicated a drop in United States crude stocks last week, an advancement towards a...
Naira weakened marginally against the dollar on the black market on Wednesday, falling by N1 or 0.21% to N476, data from abokiFX, an exchange rate tracking...
The Central Bank of Nigeria (CBN) has issued a red alert on London-based online money transfer providers, Azimo and Transfer Wise, saying the two firms had...
The Nigerian government Wednesday entered into a pact with seven private power firms through the signing of Output-Based Fund (OBF) grant memorandum of understanding for the...
Nigeria’s daily oil production declined to 1.32 million barrels per day (bpd) in November following an oil output cut agreement among members of the Organisation of...
Trading on the Nigerian Stock Exchange (NSE) ended in the positive territory for the third time this week on Wednesday as investors’ renewed interest in consumer...
The United Nations (UN) has forecasted that Africa’s economy will slow by 4.1 per cent this year and rebound by 5% in 2021 as the coronavirus...
Oil prices declined on Wednesday following a surprise increase in crude oil stockpiles in the U.S. and on continuous investor worries about fuel demand being weak...
The costs of imported vehicles will rise sharply beginning from 2021 once the Fuel Grade and Vehicle Emission Standards Regulations of the Economic Community of West...
The Nigerian government has sent a written request to the National Assembly, seeking a new review of the 2020 budget. Zainab Ahmed, the minister of finance,...
Another round of banking consolidation is inevitable for lenders to thrive by growing capital base quicker than inflation rates and devaluation of the naira, management consulting...
The People’s Republic of China has endorsed 85% of the credit needed to finance the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project and will disburse the fund soon,...
The Nigerian government has ordered the mobile telecommunication operators (telcos) to block all Subscriber Identification Modules (SIMs) without valid National Identification Numbers (NINs) after December 30....
The Nigerian Stock Exchange (NSE) extended gains on Tuesday on the back of buy pressure on industrial and bank stocks including Dangote Cement, WAPCO, Zenith Bank...
Nigeria’s entertainment and creative sector is to receive a boost, as Heritage Bank Plc, has said N5 billion is to be set aside as support funds...
Oil prices climbed past $50 per barrel on Tuesday as hopes from the rollout of COVID-19 vaccines moderated tighter lockdowns in Europe and predictions of a...
The World Bank has approved a $1.5 billion budget-support facility for Nigeria to help build a resilient recovery post COVID-19. “Nigeria is at a critical juncture....
Nigeria’s inflation rose for the 15th month in a row in November, touching a more than two-year high amid spiraling food prices fueled by land border...
Nigeria’s foreign exchange reserves contracted by $269.47 million in the five-week period to 12th December, data from the Central Bank of Nigeria (CBN) showed on Monday....
The Nigerian government has stopped the issuance of licences for operation of free trade zones in the country. Minister of Industry, Trade and Investment Adeniyi Adebayo...
The authorities of the Nigerian Stock Exchange (NSE) have blacklisted two persons and included them among those not suitable to execute capital market operations. A regulatory...
Nigeria’s capital importation, which represents the inflow of foreign capital or investment into the economy, stood at $1.461 billion in the third quarter, 74.03 per cent...
Nigeria’s Gross Domestic Product (GDP) would taper by two per cent this year relative to 2019, when a growth of 2.3 per cent was recorded, professional...
The Nigerian Stock Exchange (NSE) rallied on Monday with a N309.781 billion gain after five trading sessions of losses as buy pressure on big and mid-cap...
Two oil workers sustained injuries during a fire accident at Nigeria’s Qua Iboe crude oil terminal, a spokesperson for ExxonMobil, the operator, said on Sunday, according...
One of the first basic rules of investing is to diversify one’s portfolio. The reasons this is important range from minimising risk of loss to preserving...
Oil prices climbed on Monday, lifting Brent (the benchmark for Nigeria’s crude oil grades) above $50 per barrel amid optimism that a dispensation of coronavirus vaccines will boost...
Nigeria’s hydropower plants have been increased to four after the connection of a new plant to the national grid. Situated in Gombe State, the Dadin Kowa...
The non-performing loans portfolio of Nigerian banks stood at N1.17 at the end of the third quarter, N42.4 billion or 3.5% lower than the N1.21 trillion...
Time-to-time measures taken by monetary authorities in the foreign exchange systems of Nigeria and other emerging economies are creating an undue optimism in the local currency,...
The market was bearish throughout last week as losses swept across trade sessions Monday through Friday, with the developments and other fundamental factors during this period...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the mainstream...
The Nigerian Bureau of Statistics (NBS) said on Saturday a total of 2,781,526,188 transactions valued at N319.99trillion were recorded through the e-payment platforms in the Nigeria...
More than anything else, this week, we saw more equity raiser and expansion. That this happened barely few days after the Nigerian population authority, National Population...
The International Monetary Fund (IMF) Friday proposed a hike in Value Added Tax (VAT) and excise duties for Nigeria, suggesting that the implementation of the recommendations...
Businesses in Nigeria are optimistic that the nation’s economy will record improvement this month relative to November, the Central Bank of Nigeria (CBN)’s November 2020 Business...
The Nigerian Stock Exchange (NSE) this week reported a N463.732 billion loss in market capitalisation as there was a week-long scramble to sell off shares in...
