Business

Multichoice Group, the South African Pay-TV operator, has revealed that its Nigerian unit, Multichoice Nigeria lost 243,000 subscribers across its DStv and GOtv services in the six months covering April to September this year. The Group disclosed this in its Interim Financial Results for the six months ended September 2024. According to the company, the high inflation in Nigeria at…

United Bank for Africa (UBA) Plc, has collaborated with Mastercard to launch a commemorative debit card in celebration of UBA’s 75th anniversary.  This collaboration aims to honor UBA’s long-standing customer relationships and enhance their banking experience with a range of offers and discounts across multiple platforms.  UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who spoke at the unveiling, highlighted…

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Tuesday stated that financial inclusion has the potential to unlock significant economic growth, particularly through the empowerment of small and medium-sized enterprises (SMEs), women and other vulnerable segments of the population. Speaking at the 2024 International Financial Inclusion Conference with Theme: Inclusive Growth—Harnessing Financial Inclusion for Economic Development, he…

Trading activities on the equities market on Tuesday closed negative, as investors profit-taking in Nestle Nigeria and 28 others pulled the market capitalisation lower by N69 billion. The Nigerian Exchange Limited All-Share Index (NGX ASI) lost 113.55 basis points or 0.12 per cent to close at 97,260.39 basis points. Also, market capitalisation declined by N69 billion to close at N58.935…

…Owanari Duke Retires from Group Board United Bank for Africa (UBA) Plc, has announced the appointment of Henrietta Ngozi Ugboh as a Non-Executive Director on the Group’s Board. The appointment has been duly approved by the relevant regulatory bodies including the Central Bank of Nigeria (CBN) whose approval was granted last Friday. UBA’s Group Chairman, Tony Elumelu, who commented on…

The Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari has refuted allegations suggesting that the company was unwilling to sell crude oil to Dangote in naira as part of a scheme to undermine the refinery. The Federal Government on October 1, 2024 officially commenced the sales of crude oil and refined petroleum products in naira, the…

In line with its commitment to transform the Nigerian financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity, and Diversity) Agenda, FMDQ Group PLC (FMDQ) once again hosted its 7th annual GOLD Awards (the “FMDQ GOLD Awards”) in Lagos recently to recognise individuals and institutions whose expertise, leadership, and dedication have been integral to shaping the markets. The prestigious…

….to unveil 12 CNG stations soon Group CEO, Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari on Monday instated that the company not sabotaging Port Harcourt, Warri and Kaduna refineries. Reacting to claims that NNPC Ltd. is sabotaging the efforts of domestic refineries, Kyari said the NNPC Ltd. is part-owners of the Dangote Refinery, stressed further that such an…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly. IPMAN’s National President, Abubakar Garima, announced this at an ongoing press briefing on Monday in Abuja, following a meeting of the National Working Committee of the Association. He said the partnership would ensure a steady, affordable supply of PMS products nationwide.…

Buy interest dominated the equities market segment of the Nigerian Exchange Limited (NGX) in three of the five trading sessions, leading to major market indicating dropping by 0.20 per cent in its week-on-week (w-o-w) performance. Nevertheless, the NGXX All-Share Index returned negative, down by 0.20 per cent W-o-W to close at 97,236.19 points. Also, market capitalisation lost N118 billion W-o-W…