Business

The Federal Competition and Consumer Protection Commission (FCCPC) on Sunday said it welcomed the recent ruling of the Federal High Court in Lagos that affirms its statutory authority to investigate MTN Nigeria Plc, regulate competition and consumer protection across all sectors, including telecommunications sector. The judgment reinforces the FCCPC’s mandate as the primary authority responsible for preventing anti-competitive practices and…

The Nigerian equities market surged by N883.45 billion in five consecutive days of winning streak as investors buy into companies’ earnings report and strategic expansion moves that promise greater returns in near future.The market capitalization which opened at N64.708 trillion on Monday closed at N65.592 trillion on Friday just as the benchmark All Share Index climbed from 104,496.12 points to…

The Central Bank of Nigeria (CBN) has postponed its first Monetary Policy Committee (MPC) meeting for 2025 to March, following delays in the release of the rebased Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). Nairametrics stated that sources on Saturday said the CBN is reconsidering the February 17–18 meeting date due to the unavailability of…

As part of strategies to harness the potentials inherent within the various states for wealth creation, the Securities and Exchange Commission is to embark on investor education for State Governments across the Federation. The Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama disclosed this during a meeting with a team from the World Bank Group and the…

Fidelity Bank Plc has announced the result of its recent offer for subscription of 10 billion Ordinary Shares at N9.75 per share. The bank said the Offer was 237.92 per cent subscribed. Fidelity Bank said in the summary of the Offer that 108,046 applications for 23,791,687,463 ordinary shares totaling N231.968 billion were received in connection with the Offer. The banks…

General Hydrocarbons, which is currently locked in litigation with First Bank over a financial $225 million deal, says it  will continue to fight for justice and damages while remaining “open for mediation and resolution.” The company,in an explainer on the deal described it as a “Project Finance relationship” as opposed to a “normal commercial loan”. It said it was FBN…

The Nigerian Railway Corporation (NRC) has concluded arrangements with APM Terminal (APMT) to begin the expansion of cargo movement from Apapa Port in Lagos to NRC Freight Yard at Moniya, Ibadan. This development was confirmed in a statement signed by the Deputy Director of Public Relations at NRC, Yakub Mahmood.. The statement read, “The Nigerian Railway Corporation has concluded arrangement…

Compelled by the exigency of bringing Nigerian Ports up to speed with those of its peers in terms of infrastructure and equipment, the Nigerian Ports Authority (NPA) has secured necessary approvals for an upward review in its tariffs to 15 per cent which was last reviewed in the year 1993.  NPA in a tweet on X stated that the 15per…

The Nigerian National Petroleum Company (NNPC) Limited in collaboration with First Exploration & Petroleum Development Company Limited (First E&P) Joint Venture (JV) on Thursday disclosed that it successfully attanded  96per cent reduction in routine flaring of associated gas (AG) from the Anyala (OML 83) and Madu (OML 85) fields. Chief Corporate Communications Officer, NNPCL, Olufemi Soneye in a statement stated…

The equities market capitalisation crossedN65 trillion benchmark, supported by price appreciation in Banking stocks; FBN Holdings (FBNH), Guaranty Trust Holding Company (GTCO) and Access Holdings. The All Share Index (ASI) gained by 536.54 points, representing a growth of 0.51 per cent to close at 105,324.89 points. Also, market capitalisation gained N332 billion to close at N65.222 trillion. Also, investor sentiment,…