Business

Nigerian Exchange Limited (NGX) has experienced a remarkable surge in market capitalization, with new listings contributing over 10per cent in the past two years, according to data released by the Exchange. This underscores NGX’s growing prominence as a preferred destination for corporate listings and capital raising. Speaking at the MTN Capital Markets Day in Abuja, NGX Chief Executive Officer, Temi…

The National Bureau of Statistic (NBS) on Wednesday disclosed that Kogi, Rivers and Lagos states have the highest inflation rate in October 2023. NBS in its Consumer Price Index (CPI) report stated that inflation rate in Nigeria increased to 27.33 per cent in October 2023 from 26.72per cent in September 2023. According to NBS, the All-Items inflation rate on a…

Nigeria’s inflation rate hits 27.33 per cent in October 2023, making it the highest record since August 2005 when it was at 28.2 per cent. This is disclosed by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) on Wednesday. According to NBS, “In October 2023, the headline inflation rate increased to 27.33per cent relative to the…

In May, 2023, Union Bank received an offer from its core shareholder, Titan Trust Bank Limited, to acquire the shares of all minority shareholders in Union Bank after the completion of core investors’ sale of a majority shareholding to Titan Trust Bank Limited, a subsidiary of TGI Group. The acquisition of the minority shareholding has led to the application to…

 The Central Bank of Nigeria (CBN) has announced its intention to extend the validity of the old N200, N500, and N1,000 noted indefinitely. This is as the apex bank declared its desire to extend the validity of old naira notes beyond any expiry date. According to the apex bank, it is working with the relevant authorities to vacate the subsisting…

The Capital Market Correspondents Association of Nigeria (CAMCAN) has concluded plans to hold its 2023 annual workshop, a strategic forum to articulate issues that can move the Nigerian capital market and economy forward. The workshop, scheduled to hold December in Lagos, is being organised by the association as part of its efforts to contribute to the development of the country’s…

The Nigeria Deposit Insurance Corporation (NDIC) on Monday addressed the recent misleading news reports circulating on various social media platforms under the headline “CBN Liquidates 20 Banks – NDIC (Names).” Director, Communication & Public Affairs, NDIC, Bashir Nuhu in a statement said, “ Contrary to the misleading headline, we would like to clarify that the 20 banks mentioned in those…

PalmPay has gifted one of its customers N500,000 in the first week of the ongoing three-week N300 million giveaway campaign. The financial institution said it is committed to driving economic inclusion and empowerment in Africa. Expressing her surprise and heartfelt gratitude to PalmPay for the cash prize, Mrs Gbolahan Ahmed said, “I was surprised when I won and more surprised…

Dangote Group’s Executive Director, Commercial Operations, Hajia Fatima Aliko-Dangote, has reiterated the company’s determination to eradicate the high youth unemployment in the country. She said, it is only when youths are positively engaged, that the high insecurity problems in the country will fade away. Fatima, who made this disclosure at the just concluded Lagos International Trade Fair during the “Dangote…

PalmPay has called for improvement in the security and safety of fintech apps as way to addressing the upsurge in fraud in Nigeria’s financial services sector. The financial institution gave this charge through its Head of IT and Payments, Temitope Oduwole, at the third Africa Tech Alliance Forum (AfriTECH) held in Lagos. Oduwole emphasized the critical importance of prioritizing app…