Economy
Mixed reactions as CBN moves to unify exchange rate
With moves by the monetary authorities to unify the Naira foreign exchange (forex) rates gaining traction, economic analysts believe that...
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Naira trades at N381/$
The naira resumed trading on the official market at 381 to the dollar after no quotes for two straight sessions,...
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NSE Cautions Investors against 13 Companies for Failure to File Accounts
The Nigerian Stock Exchange (NSE) wednesday advised investors to trade with caution on the securities of 13 companies due to...
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Allegations of corruption: Police comb Magu’s house after suspension, returned to custody
Some policemen attached to the Force Criminal Investigation and Intelligence Department on Tuesday searched the home of the suspended acting...
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Vetiva Predicts Stability for Naira in Near Term
Analysts at Vetiva Research have predicted that despite the downside risks affecting the exchange rate, various policy measures introduced by...
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Reps summon NNPC, NLNG over alleged illegal $1.05bn withdrawals
The House of Representatives has resolved to investigate the alleged illegal withdrawal of funds from the Nigerian Liquefied Natural Gas...
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Five airlines restart flights amid strict protocol
• Uncertainty over bailout funds, onboard physical distancing • Travel experts project a 30% load factor • ‘New normal’ awaits...
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Prestige Assurance to Raise N6.8bn via Rights Issue
Prestige Assurance is set to raise N6, 817,898,003 through the issuance of 13,635,796,006 shares at N.50 kobo per share. ...
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Official exchange rate may hit N430/$ – Report
The nation’s official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc,...
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NSE All-Share Index Rises 0.3% as Stock Market Rebounds
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 0.3 per cent to close at 24,097.48 yesterday, following the...
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Analysts Urge Entrepreneurs to Embrace Innovation
Experts that spoke at the ongoing webinar series organised by Rand Merchant Bank Nigeria have stressed the need for business...
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Agusto & Co. assigns an “A(f)” rating to Legacy Money Market Fund
The rating expires on 23 June 2021. The rating assigned to Legacy Money Market Fund (“Legacy MMF” or “the Fund”) reflects the...
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Nigeria’s inflation’ll average 12.2% in 2020, says PwC
PwC Nigeria has said the headline inflation in Nigeria will average 12.2 per cent in 2020, compared to 11.4 per...
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Nova Merchant Bank Floats N10bn Bond
Nova Merchant Bank Limited has announced that its ongoing N10 billion bond issuance is aimed at putting the business on...
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$11.5bn injected into forex market in Q1 – CBN
The Central Bank of Nigeria injected $11.5bn foreign exchange into the economy in the first three months of 2020. ...
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EFCC chair Magu detained
SOME OF THE ALLEGATIONS •Alleged discrepancies in the reconciliation records of the EFCC and the Federal Ministry of Finance on...
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CBN debits banks N122bn, moves to unify exchange rates
The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency...
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Beta Glass, Julius Berger, others lead market’s N162 billion losses
The Nigerian Stock Exchange (NSE) extended the bearish sentiments at the reopening of transactions yesterday, even as more blue-chip stocks...
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$14million Debt: Sahara Group, Ecobank Opt for Settlement
The Federal High Court in Lagos has adjourned till July 10, for hearing or report of settlement in a $14million...
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Fidelity Bank appoints Chike-Obi as chair
Fidelity Bank Plc has appointed Mustafa Chike-Obi as its Chairman following the resignation of Ernest Ebi, who held the position....
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NIA generates N196 million from NIID data upload
The Nigerian Insurers Association (NIA), said it generated about N196 million from data upload on the Nigerian Insurance Industry Database...
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NNPC reshuffles senior managers
The Nigerian National Petroleum Corporation (NNPC) has redeployed some senior officials as part of an ongoing efforts to reposition the...
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CBN, GBfoods Complete N20bn Tomato Processing Factory
GBfoods, a culinary product manufacturing, in partnership with the Central Bank of Nigeria (CBN), Kebbi State Government and the Emirate...
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Citibank Boss Tasks FG on Reforms to Increase FDIs
The Cluster Head in Sub-saharan Africa (SSA), Citibank, Mr. Akin Dawodu has advised the federal government to initiate reforms that...
Read moreRising COVID-19 cases, unfavourable policies drag NSE’s index by 1.99%
The Nigerian Stock Exchange (NSE) suffered another week of losses, amid rising COVID-19 cases, and the persisting foreign exchange (forex)...
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