Business

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…

FCMB group Plc on Monday declared a total assets of N3.88trillion as of September 30, 2023, representing a growth of 32.2 per cent Year-on-Year (YoY) from N2.93trillion declared in financial year for the period ended December 31, 2022. The group declared profit before tax growth of 108.0per cent YoY to N55.1 billion from N26.5 billion reported in corresponding period of…

Ahead of the Invest 2024 Traders & Investors Summit slated for Saturday, via virtual , the organisers, Investdata Consulting Limited has released the performance scorecard of the 15 Golden Stocks recommended during the last edition, which revealed a superlative performance as they recorded 103.55per cent average capital appreciation between December 2, 2022 to Friday, November 24, 2023. Within the period,…

President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke has called on the Central Bank of Nigeria (CBN) to adopt incentives rather than coercion policy in the banking sector recapitalisation. The governor, CBN, Mr. Olayemi Cardoso at the banking community at the 58th annual Bankers’ Dinner and 60th Anniversary of the Chartered Institute of Bankers of Nigeria (CIBN)…

The governor, Central Bank of Nigeria (CBN). Mr. Olayemi Cardoso on Friday disclosed that Nigeria suffered approximately $1.4billion or $275million annually in revenue drop between 2015 and 2019 when 43 items were restricted access to foreign exchange market. CBN had recently lifted the ban on 43 items from accessing the official foreign exchange market, allowing market forces to determine exchange…

The Board of Directors of Access Holdings Plc has announced the death of its Chairman, Bababode Osunkoya. This disclosure is contained in a statement signed by the Company Secretary of Access Holdings Plc, Sunday Ekwochi, on Thursday night, November 23, 2023, and filed with the Nigerian Exchange Limited (NGX). Ekwochi in the statement said that Osunkoya died on Tuesday, November…

The National Bureau of Statistics (NBS) on Wednesday disclosed that the average retail price paid by consumers for Premium Motor Spirit or Petrol) for October 2023 was N630.63. This is 222.92per cent increase when compared to the N195.29/ litre recorded in October 2022. NBS in its “Premium Motor Spirit (Petrol) Price Watch” for October disclosed that the average retail price…

The federal government has filed an application before the Supreme Court seeking an extension for old naira notes to remain in circulation. In March 2023, the supreme court had extended the deadline to phase out the old naira notes to December 31, 2023. In the fresh application, the attorney-general of the federation (AGF) said due to the economic crisis, it…