Business

A group of analysts at Cordros Securities on Thursday predicted an increase in Monetary Policy Rate (MPR) or interest rate by 50 basis points by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The MPC of the CBN is expected to hold its second meeting of the year on the 20th and 21st of March 2023.…

Professor of Finance and Capital market at Nasarawa State University, Keffi, Prof. Uche Uwaleke has hinted that the hike in inflation rate for the month of February 2023 may not be unconnected to the scarcity of naira. The National Bureau of Statistics (NBS) had on Wednesday disclosed that Nigeria’s headline inflation rose by 10basis points in February to 21.91per cent…

Investors’ negative sentiments drove the equities market on Wednesday downward as market capitalisation dropped by N127billion, marking its fourth successive decline session. The Nigerian Exchange Limited’s All-Share Index (NGX ASI) fell by 232.70 basis points or 0.42 per cent to 55,490.20 basis points. Consequently, investors lost N127 billion in value as market capitalisation declined to N30.229 trillion. Sectoral performance was…

As Nigeria grapples with insufficient foreign exchange inflow resulting in a smaller foreign reserve of $36.19billion on March 13, 2023, from $41billion as of December 2021, the accessibility of the dollar in the country for average Nigerians to cater for schooling and business purposes will continue to thin out. The process of receiving Personal Travel Allowance (PTA) and Business Travel…

The National Bureau of Statistics (NBS) on Wednesday disclosed that Nigeria’s headline inflation rose by 10basis points in February to 21.91per cent from 21.82per cent reported in January 2023. The bureau in its “Consumer Price Index” report said on a year-on-year basis, the headline inflation rate was 6.21per cent points higher compared to the rate recorded in February 2022, which…

The Central Bank of Nigeria (CBN) on Monday disclosed that the old N200,  N500 and N1000 banknotes remain legal tender till December 31, 2023. This is in compliance with the directive of the Supreme Court ruling of March 3, 2023 and President Muhammadu Buhari’s official position on the ruling of the apex court. The acting Director, Corporate Communications, CBN, Isa…

The equities market on Monday kicked off the week on a downward note, as profit-taking in Nigerian Exchange Group Plc and 20 others led the overall capitalisation to close N4 billion in decline. The All-Share Index declined by 6.14 basis points or 0.01 per cent, to close at 55,788.37 basis points. Similarly, the market capitalisation value lost N4 billion to…

Executive Director, Commercial, NASCON Allied Industries, Fatima Aliko Dangote has revealed that the Dangote Group has invested in innovative technologies and processes to achieve gender equality and empowerment of all women in the organisation. Besides, Fatima disclosed that women are playing pivotal roles in the success story of the Dangote Group. To drive transformative change, she said the company is…

The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has emphasised the need for elimination of all forms of gender inequality in a bid to ensure continued growth and development of the capital market. Yuguda stated this in his message at the celebration of the International Women’s Day held in the Commission’s head office in Abuja…

Activity on the Nigerian equities market on Thuresday was mixed, albeit with a bullish tilt as capitalisation closed N11 billion higher. The All Share Index (ASI) rose by 21.00 basis points or 0.04 per cent to close at 55,822.14 basis points. Accordingly, investors gained N11 billion in value as market capitalisation went up to N30.409 trillion. The upturn was impacted…