Business

The Nigerian equities market started the week’s trading session on a downturn as investors’ investment declined by N72 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) lost 116.21 points or 0.11 per cent to close at 107,937.74 basis points., while market capitalisation declined by N72 billion to close at N67.346 trillion. The downturn was driven by price depreciation in…

A Kano State High Court has issued an order of perpetual injunction, preventing the Central Bank of Nigeria (CBN) from withholding funds from the Federation Account to the 44 local governments of the state. In a judgment on Monday, the CBN was ordered to disburse funds to the local governments. The applicants, which include the Chairman of NULGE, Ibrahim Muhd,…

President Bola Tinubu has affirmed Dangote Group’s pivotal role in the country’s push towards industrialization, as the company took the center stage at the ongoing Kaduna International Trade Fair. Acting Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr. Dafang Sule, who represented President Tinubu and the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, thanked the…

The National Information Technology Development Agency (NITDA) has expressed its commitment to fostering an innovative ecosystem that balances regulation with industry growth by investing in cloud infrastructure, data classification, and AI applications to solidify its position as a leading African digital hub. The NITDA Director General, Kashifu Inuwa, stated this while speaking as a panellist at the Africa Hyperscalers Digital…

The domestic bourse, last week, closed three out of five trading sessions in the positive territory, extending market’s positive reaction to the flurry of resilient 2024 earnings releases thus far. The All-Share Index recording a week-on-week (W-o-W) gain of two per cent to close at 108,053.95 points. Also, market capitalization rose by N1.83 trillion or 2.78 per cent to close…

The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Thomas Wyatt Nigeria Plc, effective Tuesday, February 11, 2025, citing the company’s failure to meet its financial reporting obligations. In adherence to Rule 3.1 of the Exchange’s Default Filing Rules, the suspension stems from Thomas Wyatt Nigeria Plc’s inability to submit its Audited Financial Statements for the fiscal…

The Lagos State Ministry of Environment has reopened Ebute-Ero Gorodom market after three weeks of closure due to breach of environmental infractions. Commissioner For Environment and Water Resources, Mr Tokunbo Wahab, said this in a statement on Sunday in Lagos. Wahab gave the order for the reopening of the market after an inspection tour to Lagos Island and environs, especially…

Dangote Group, Africa’s leading industrial conglomerate, has announced a major expansion plan in Ethiopia in collaboration with Ethiopian Investment Holdings (EIH). The move reinforces Ethiopia’s status as a key investment destination in Africa. Aliko Dangote, Chairman and CEO of Dangote Group, emphasized Ethiopia’s improving business environment after recent discussions with the country’s Prime Minister. Dangote confirmed the group’s commitment to…

The Nigerian National Petroleum Company Limited (NNPCL) on Saturday refuted the false and misleading allegations made in a viral video circulating online, which claims that NNPC fuel does not last.  An individual did an experiment on NNPC fuel and Dangote fuel from MRS filling station. The company in a statement said the assertion is baseless and entirely unfounded, originating from…

…It’s civil matter, loan fully paid, Otudeko’s lawyers tell court In a determined effort to prove his innocence and clear his name, Dr. Bisi Onasanya, the former Group Managing Director of First Bank, on Thursday appeared before Justice Chukwujekwu Aneke at the Federal High Court in Lagos. Onasanya, alongside former First Bank Chairman Oba Otudeko; a Director at Honeywell Group,…