Business

Institutional investors from the United States under the Institutional Investor Network have expressed interest in allocating their capital and exploring more direct investment opportunities in the Nigerian capital market. This was the subject of discussion at an engagement between Nigerian Exchange Limited (NGX) and a delegation from the United States facilitated by Chapel Hill Denham, consisting of United States Agency…

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday closed on a positive note as price appreciation in BUA Cement Plc and 17 others pushed the overall market capitalization up by N64 billion. The All-Share Index rose by 115.62 per cent, representing a gain of 0.17 per cent, to close at 67,100.49 points. Similarly, the overall market capitalisation…

The management of Dangote Cement Plc has denied reports, in some online platforms that it has embarked on sales promotion and has further adjusted its prices. In response to the misleading report, the Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina described the reports as mischievous, malicious, and false. He added that the Management has formally notified…

The Nigerian equities market on Monday rebounded by 0.97 per cent on investors’ interest in BUA Cement Plc and 25 others. The Nigerian Exchange Limited All-Share Index (ASI) rose by 646.76 basis points or 0.97 per cent to close at 67,101.33 basis points. Also, market capitalisation gained N355 billion to close at N36.865 trillion. The upturn was driven by price…

Foreign reserves depreciated by $3.85billion in nine months of 2023 amid the Central Bank of Nigeria (CBN) foreign exchange intervention and slow growth in global oil prices. According to Westernpost investigations, Nigeria’s foreign exchange buffer stood at September 29, 2023 at $33.24billion from $37.083billion it closed in 2022. The CBN in its data revealed that external reserves closed August 31,…

The Central Bank of Nigeria (CBN) on Monday debunked claims that its eNaira is a threat to financial stability in the country, calling on Nigerians to embrace the technology. The apex bank was reacting to reports suggesting that the digital currency, the Central Bank Digital Currency (CBDC) has threatened Nigeria’s financial stability. The eNaira was developed by fintech company Bitt,…

For the second year in a row, Moniepoint Inc, has announced its listing in the sixth annual CB Insights’ Fintech 100 ranking (previously the Fintech 250), showcasing the 100 most promising private fintech companies of 2023. CB Insights is regarded by top industry analysts as the most trusted source for technology market insights. The Fintech 100 includes a mix of…

VFD Group Plc on Friday announced its listing on the main board of Nigerian Exchange Limited (NGX), the sustainable Exchange championing Africa’s growth. The official listing was celebrated with a Closing Gong ceremony and a Fact Behind the Listing Presentation, marking a key milestone in the company’s history. The listing of VFD Group’s shares has added over N45 billion to…

 Citing currency pressure, insecurity, and other challenges, the World Bank Group yesterday, revised its economic growth outlook for Nigeria in 2023, to 2.9 per cent, lower than its earlier projection of 3.3 per cent for the West African country. This was revealed in the multilateral institution’s latest ‘Africa Pulse,’ a regional macroeconomic outlook released yesterday, where it noted that Sub-Saharan…

EnterpriseNGR, a member-led, not-for-profit Professional Advocacy Group representing Nigeria’s Financial and Professional Services (FPS) Sector, held its Quarterly Members’ Night dinner, which was graciously hosted by Templars, one of its Founding Members. The dinner was attended by top executives from member organisations and prospects, providing a relaxed evening of exquisite wining, dining, networking, and discussions about EnterpriseNGR’s significant milestones. These…