Business

The equities market of the Nigerian Exchange Limited (NGX) on Thursday returned to negative position with 0.12 per cent decline on losses in 17 stocks. The All Share Index (ASI) fell by 67.15 basis points or 0.12 per cent to close at 54,359.90 basis points, while investors lost N37 billion in value as market capitalisation declined to N29.608 trillion. The downturn…

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded after previous day’s pullback as investors’ investment went up by N69 billion. The All Share Index (ASI) rose by 127.29 basis points or 0.23 per cent to close at 54,427.05 basis points. Accordingly, investors gained N69 billion in value as market capitalisation went up to N29.645 trillion. However,…

The International Monetary Fund (IMF) has urged the Federal Government and the Central Bank of Nigeria (CBN) to further extend the February 10 deadline for withdrawal of old naira notes, citing hardships caused by shortage of the  new bank notes available to the public. In a statement on Wednesday, the Resident Representative of the global lender, noted the hardships caused…

The equities market on Monday relapsed by N37 billion, halting six days of successive rally on the Nigerian Exchange Limited (NGX) following profit-taking activity. In summary, the All-Share Index (ASI) declined by 67.98 basis points or 0.13 per cent to close at 54,299.76 basis points. Similarly, the overall market capitalization value lost N37 billion to close at N29.576 trillion. The…

Zenith Bank Plc on Tuesday closed some of its branches across the country due to lack of new naira notes and an attack on its network by desperate Nigerians looking to exchange their old currency for the newly redesigned banknotes. unconfirmed video The Central Bank of Nigeria (CBN) has not been able to supply enough cash for its large customer…

Access Bank customers are in for a treat this Valentine season, as the retail giant is offering several discounts and mouth-watering freebies on its retail products and services to celebrate customers in this season of love. The Valentine season campaign, tagged “Love is More,” will run from February 1 through March 11, 2023. Robert Giles, senior retail advisor, retail banking,…

The domestic equities market on Monday extended gains from last week as the market capitalisation closed N81billion stronger on buying interests in MTN Nigeria Communications (MTNN) Plc and 15 others. The All Share Index (ASI) rose by 154.65 absolute points, representing a gain of 0.29 per cent to close at 53,157.83 points. Accordingly, investors gained N81billion in value as market…

The exchange rate between the naira and the dollar improved at the parallel market on Monday to trade to an average of N744/$1, representing a 0.53per cent appreciation compared to N748/$1 recorded on Friday. On the other hand, the exchange rate at the cryptocurrency P2P exchange depreciated marginally by 0.10per cent to a minimum of N745.77/$1, as against N745/$1 recorded…

The Federal Government has expressed its commitment to continue to improve the diversification of the economy by steadily growing other sectors particularly the commodities trading ecosystem. The assurance was given by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed during the presentation of Gold coin to her by the Lagos Futures and Commodities Exchange in Abuja, weekend.…

The Association of Corporate Affairs Managers of Banks (ACAMB) has debunked numerous reports that banks are hoarding new naira notes, assuring Nigerians that the issue will be tackled soon. The association empathized with the Nigerian public on the unintended hardships being faced in the process of the ongoing rollout of re-designed naira notes and enhanced cashless policy. The President, ACAMB,…