Business

Recovering from the previous session’s loss, the domestic equities market on Tuesday posted gains as the Nigerian Exchange Limited All-Share Index (NGX ASI) gained 0.43 per cent. The NGX ASI gained 303.34 basis points or 0.43 per cent to close at 71,250.17 basis points. Also, market capitalisation rose by N166 billion to close at N38.989 trillion. The upturn was driven…

A Professor of Finance and Capital market, Uche Uwaleke, has stressed the need for the government to unlock the huge potential of long-term financing inherent in the capital market and ensure borrowings tied to infrastructure bonds. Uwaleke stated this at the 2023 conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend. He said…

The Securities and Exchange Commission (SEC) has called for an active collaboration between the government and market participants to enhance market growth and facilitate economic development. The Director-General of SEC, Mr Lamido Yuguda, made the call while addressing journalists at the 2023 conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend. Yuguda said…

Nigeria recorded a daily foreign exchange turnover of $110.14million in the Nigerian Foreign Exchange Market (NAFEM), on Friday, 1st. December, 2023. The daily forex turnover recorded $100.06million on Monday, November, 27, 2023 and closed on Friday, 1 December, 2023, by $110.14million. According to the data from NAFEM, the country’s official foreign exchange market, the rise in the daily forex turnover…

 The domestic equities market of the Nigerian Exchange Limited (NGX) on Thursday closed positive with a gain of 0.11 per cent, buoyed by price uptick in Airtel Africa Plc and 24 others. The All-Share Index (ASI) gained 81.91 basis points 0.11 per cent to close at 71,365.25 basis points. Also, market capitalisation rose by N44 billion to close at N39.052…

One of the leading digital banks, PalmPay has educated customers on how they could secure their bank accounts during the holiday season. The bank, in a statement issued on Thursday, itemized eight important steps to secure Bank account during this season. It said one of the factors limiting financial inclusion among the unbanked is the perception that banks are not…

 The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan in highlighting some of its 2021 – 2025 Strategic Plan achievements in the financial sector said the Corporation has invigorated its liquidation activities, and greatly increased debt recovery rate leading to declaration of 100 per cent liquidation dividends to depositors of over 20 deposit money banks in-liquidation. Speaking…

Fidelity Bank Plc, has restated its determination to help businesses run profitably as it recently partnered with the Lagos Chamber of Commerce and Industry (LCCI) to host a conference to discuss solutions to challenges bedeviling the growth of businesses in the country. Held at the LCCI office in Lagos recently, the event featured a panel session comprising several top functionaries…

 Sentiments in the local equities market of the Nigerian Exchange Limited (NGX) on Tuesday as investors took profits in Dangote Cement Plc and 39 others. Thus, the All-Share Index declined by 312.76 basis points or 0.44 per cent, to close at 71,041.05 basis points. Similarly, the overall market capitalisation value shed N165 billion to close at N38.875 trillion. The market…

In compliance with Section 59 (2) of the Petroleum Industry Act, 2021, President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL) with effect from December 1, 2023: (1) Chief Pius Akinyelure — Non-Executive Board Chairman (2) Mallam Mele Kolo Kyari — Group Chief Executive Officer (3) Alhaji…