Business

The Director, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, has urged the Central Bank of Nigeria (CBN) to resist the temptation of further hike in its interest rate also called monetary policy rate (MPR). He stated this while reacting to the National Bureau of Statistics (NBS) report on headline inflation which accelerated to 21.47per cent in…

The newly redesigned naira notes will go into circulation on Thursday with Deposit Money Banks (DMBs) releasing the bills to their customers via over-the-counter payments. This came about three weeks after President Muhammadu Buhari unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa. The President unveiled the redesigned notes across the N200, N500 and…

The equities market of the Nigerian Exchange Limited (NGX) yesterday increased by N73 billion amid renewed bargain-hunting activity. The NGX All Share Index (ASI) rose by 134.50 basis  points or 0.28 per cent to close at 48,988.04 basis points,  while the overall market capitalisation value gained N73 billion to close at N26.682 trillion. The upturn was impacted by gains recorded…

Africa’s foremost conglomerate, the Dangote Group has won the ‘Overall Most Responsible Business’ Award, just as three of its subsidiaries clinched awards at the 16th edition of the Sustainability, Entrepreneurship and Responsibility Awards (SERAS) in Lagos. At the well-attended event, which drew stakeholders across the industrial sector who had earlier submitted a record 151 entries for awards in 26 categories,…

The equities market of the Nigerian Exchange Limited (NGX) on Thursday ended its four-day winning streak with N34 billion loss as investors sold off their shares in MTN Nigeria Communications (MTNN) Plc and nine others. In summary. the All-Share Index (ASI) declined by 61.35 basis points or 0.13 per cent, to closed at 48,365.14 basis points. Similarly, the overall market…

Public and private sector stakeholders across the financial services industry have canvassed support for the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill currently before the National Assembly with a view to strengthening the capacity of the Corporation to contribute more effectively and efficiently to the stability of the financial system. At a public hearing organized 0n Thursday by…

The equities market of the Nigeran Exchange Limited (NGX) ended the strong bullish run by N 33 billion on Wednesday, following bargain-hunting on Nestle Nigeria Plc and 11 others. The All Share Index (ASI) rose by 59.80 basis points or 0.12 per cent to close at 48,426.49 basis points. Accordingly, investors gained N33 billion in value as market capitalisation went…

Finance experts have continued to react over the Central Bank of Nigeria (CBN) new policy limit for individual and corporate entities, starting January 9, 2023. The apex bank in a circular on Tuesday announced a new policy that mandates Deposit Money Banks (DMBs) and other financial institutions to ensure that over-the-counter cash withdrawals by individuals do not exceed N100,000 per…

The equities market of the Nigerian Exchange limited (NGX) on Tuesday maintained the bull run bringing capitalisation up by N53 billion on buying interest in BUA Cement Plc and 15 others. The All Share Index (ASI) rose by 96.46 points or 0.20 per cent to close at 48,366.69 points, while overall market capitalisation value gained N53 billion to close at…

Nigerian equities market opened the week on a positive note on Monday, extending gains from the previous session as the All-Share Index closed 0.24 per cent stronger, driven by gains in Presco Plc and 18 others. The All Share Index (ASI) rose by 115.58 basis points, representing a gain of 0.24 per cent to close at 48,270.23 basis points as…