Business

Following the emergency meeting of the Board of Directors, Nigerian Exchange Group Plc (NGX Group) on Tuesday announced an interim dividend of 25 kobo per ordinary share of 50 kobo each, distributable to shareholders for the first half of financial year 2023. The dividend, which is the first since the demutualisation of the Nigerian Stock Exchange will be paid to…

The suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been re-arrested by the Department of State Services (DSS) at the premises of the Federal High Court, Lagos. It would be recalled that DSS had earlier in the day, arraigned Emefiele on a two-count charge of illegal possession of firearms. …details later

The National Bureau of Statistics (NBS) on Tuesday revealed that consumers pay an average of N4,068.26 retails price for 5kg of a cylinder of Liquefied Petroleum Gas also called cooking gas in June. This is a 6.71 per cent decline from N4,360.69 per 5kg in May 2023. NBS in its “Liquefied petroleum gas (cooking gas) price watch” stated that the…

The Federal High Court sitting in Lagos has admitted the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to a bail of N20 million with one surety in like sum. Justice Nicholas Oweibo granted bail to Emefiele after listening to the submissions of his counsel, Joseph Daudu (SAN). President Bola Tinubu had suspended Emefiele as the apex…

Suspended Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Tuesday made his first appearance in court after 46 days in the custody of the Department of State Services (DSS), and pleaded not guilty to the two-count charge filed against him. The court is currently taking arguments on his bail application filed by his lawyer, Chief Joseph Bodurin…

The equities market of the Nigerian Exchange Limited (NGX) on Monday opened positively as demand for Okomu Oil Plc and 31 others drove the market higher by N144 billion. The NGX All-Share Index rose by 264.89 basis points or 0.41 per cent, to close at 65,268.28 points. Consequently, the overall market capitalisation value gained N144 billion to close at N35.539…

As the Central Bank of Nigeria (CBN) unify the naira, the Nigerian Exchange Limited Banking Index (NGX Banking) has appreciated by 68.46 per cent Year-till-Date (Ytd) to outpaced other indices on the bourse. The NGX Banking as of July 21 has surpassed the NGX All-Share Index that closed at 26.83 per cent YtD growth as the stock market has witnessed…

President of Dangote Group, Aliko Dangote has been hailed as a foremost entrepreneur whose laudable interventions in the agricultural sector in Nigeria should be applauded and emulated by others. Many Nigerian University Vice Chancellors, under the auspices of Committee of Vice-Chancellors who were at the Dangote Fertiliser plant on a familiarisation visit over the weekend, marveled at the huge financial…

Deposit Money Banks (DMBs) and merchant banks’ net domestic credit to the economy has hit N84 trillion representing an 11 per cent Month-on-Month (MoM), rise from N75.49 trillion in May. The breakdown, according to the Money and Credit Statistics of the Central Bank of Nigeria, CBN, released on Saturday, shows that the private sector took N52.8 trillion, showing about 17.9…