Business

The equities market of the Nigerian Exchange Limited (NGX) on Tuesday closed lower with N126 billion loss as investors’ sentiments towards the market remained dampened. The All-Share Index declined by 230.47 basis points or 0.34 per cent, to close at 66,652.17 basis points. Similarly, the overall market capitalisation value lost N126 billion to close at N36.479 trillion. As measured by…

The MSECB, a leading international provider of Audit and Certification Services has granted the Nigeria Deposit Insurance Corporation (NDIC) three ISO certifications. These certifficates are : Information Security Management System ISO/IEC 27001:2013 (on how organizations manage and protect their information assets so that they remain safe and secure, using this robust framework); IT Service Management System ISO/IEC 20000-1:2011 (on how…

Despite the challenges faced by the Nigerian economy, domestic inflows rose by N118 billion in the month of August 2023, reflecting optimism for domestic growth with the new promulgation of long needed reforms. This is according to the Domestic and Foreign Portfolio Investment Report of Nigerian Exchange Limited (NGX) for the month of August 2023. The Domestic and Foreign Portfolio…

The Nigerian Exchange Limited (NGX) equities market section on Monday sustained last week’s negative run as the All-Share Index dipped by 0.66 per cent. The All Share Index (ASI) declined by 441.95 basis points or 0.66 per cent to close at 66,882.64 basis points. Accordingly, market capitalisation shed by N242 billion to close at N36.605 trillion.  The market performance was…

Ahead of its Q4 virtual Master Class scheduled for September 30, Investdata Consulting Limited, at the weekend said its five golden stocks recommended for participants during the Q1, Q2 and Q3 edition returned 56.47per cent on the average as of Friday, September 22, 2023. The selected stocks namely: NAHCO Aviance, AXA Mansard Insurance, e-Tranzact, Consolidated Hallmark Insurance and Transcorp, the…

The Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service (LIRS),  Mr Tokunbo Akande has clarified the misunderstanding about stamp duty as he maintained that it is a revenue stamp and not a postage stamp. Akande made this known while featuring as a guest on The Tax Talk programme on Channels Television recently. He said contrary…

President Bola Tinubu recently nominated Governor of the Central Bank of Nigeria (CBN)Dr. Olayemi Cardoso on Friday formally assumed duty in an acting capacity. He is to act as the CBN Governor pending his confirmation by the Senate. According to a statement, the development followed the resignation of Mr. Godwin Emefiele as CBN Governor. “Similarly, the Deputy-Governors-Designate have also assumed…

The National Bureau of Statistics (NBS) has said the average retail price of a litre of Petrol has jumped by 231per cent from N189.46 in August of the previous year to N626.70 in August 2023.  The NBS in its Petrol Price Watch for August 2023, unveiled that the average price with the previous month of July 2023, the average retail…

The equities market of the Nigerian Exchange Limited (NGX) on Thursday extended losses from the previous session, bringing the market down by N36 billion. Accordingly, the NGX All Share Index (ASI) declined by 64.58 basis points or 0.09 per cent to close at 68,271.14 basis points. Also, market capitalisation shed N36 billion to close at N37.365 trillion. The downturn was…

President Bola Tinubu has called on foreign investors to bring their capital into the country as his government is working on easing the free flow of capital.  Tinubu stated this just before he rang the Closing Bell of NASDAQ, New York, a ceremony organized by United States Chamber of Commerce, Nigerian Exchange Group Plc (NGX Group) and Nigerian Investment Promotion…