Business

Despite trading for three days, the Nigerian equities market appreciated by N512.5 billion in one week as investors renewed interest in blue-chip companies quoted on the Nigerian Exchange Limited (NGX). Specifically, the market capitalisation closed at N72.788 trillion, about N512.5billion or 0.71 per cent week/week(w/w) increase from N72.275 trillion it opened for trading.  Also, the NGX All-Share Index crossed the…

The overall market capitalisation of the c instruments (debt, equities and Exchange Traded Fund) crossed the N120trillion mark to N121.4 trillion in May 2025, amid a hike in foreign investors inflow into the bourse this year. This is about 11.05 per cent or N12.08trillion Year-till-Date growth when compared to N109.27 trillion overall market capitalisation closed December 2024. For the debt…

The Central Bank of Nigeria (CBN) has refuted claims circulating in the media suggesting an extension of the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The CBN’s Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, in a statement said the bank dismissed the information as “false” and “misleading.” The bank noted that no…

The Nigerian National Petroleum Company (NNPC) Limited has reported a revenue of N5.89 trillion for April 2025.  In its new report titled ‘NNPC Limited Monthly Report Summary — April 2025,’ the oil firm said it recorded profit after tax of N748 billion for the same period. NNPC said it made statutory payments of N4.22 trillion between January and March 2025. “All financial figures are…

The Group CEO of NNPC Ltd., Engr. Bashir Ojulari on Wednesday hosted a delegation from  Moeve Global, a global leader in sustainable mobility and energy, led by CEO Maarten Wetselaar in Abuja. The Corporation in   tweet stated that discussions of the meeting focused on forging strategic partnerships to align with presidential directives on boosting production. Ojulari, who emphasised NNPC Ltd.’s…

By Kunle Sanni Former Governor of Edo State, Adams Oshiomhole, has accused Nigerian airline Air Peace of reselling already booked seats at inflated prices, sparking chaos at Murtala Muhammed Airport Terminal 1 in Lagos on Wednesday morning. The incident, captured in a video circulating on social media, showed the senator engaged in a heated exchange with airport officials at the…

By Kunle Sanni Air Peace has strongly condemned what it described as the “unruly conduct” of former Edo State Governor and current senator, Adams Oshiomhole, who allegedly disrupted flight operations at the Murtala Muhammed Airport Terminal 1 in Lagos on Wednesday morning. In a statement issued by the airline’s management, Senator Oshiomhole reportedly arrived at the terminal at approximately 6:10…

The Securities and Exchange Commission (SEC) has insisted that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, remains banned in Nigeria as it has not been registered by the Commission. SEC in a public notice issued on Wednesday advised the public to refrain from patronising or transacting any…

The naira at the offical foreign exchange rate on Tuesday appreciated by 0.7per cent to N1,540.00 against the dollar  from N1,551.00 it closed last week trading activities. Meanwhile,  the local stock market on Tuesday  resumed from the holidays on a negative note as selloffs in Aradel Holdings Plc and 24 others pulled the overall capitalization down by N377 billion. As…

The Securities and Exchange Commission (SEC) has directed all public companies and registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”—especially those dating from before the enactment of the Finance Act 2020.  The directive reaffirms the provisions of Section 60 of the Finance Act, which mandates that dividends unclaimed for over six years be transferred to the…