Business

Investor confidence has been described as one of the key ingredients that will accelerate the growth of the nation’s capital market and increase both domestic and foreign investor participation. This was stated by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed during the launch of the revised Capital Market Master Plan in Lagos on Thursday. Represented by…

The Director-General of the Debt Management Office (DMO), Ms Patience Oniha, will lead other market regulators to discuss the prospects of Nigeria’s public debt at the 2022 annual workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN). The workshop, to be held in Lagos, is being organised by the association as part of its efforts to contribute to the…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday raised its interest rate or Monetary Policy Rate further by 100 basis points to 16.50per cent from 15.50 per cent with other policy parameters unchanged. At the just concluded meeting, a total of nine members voted for a 100 basis points hike in rates and two…

The Central Bank of Nigeria (CBN) has directed that commercial banks in the country remain open on Saturdays until January 31, 2023, to allow bank customers to exchange old naira notes for new ones. This was disclosed by Osita Nwasinobi, the Director of the Corporate Communications Department of the apex bank. He also reiterated that the new and existing currencies…

The African Exchanges Linkage (AELP) has today gone live on integrating the African capital markets by facilitating cross-border trading and free movement of investments in the continent through the AELP Link platform. The go-live happened when the platform was officially switched on at 0000 UTC. The interconnectivity platform enables the trading of exchange-listed securities across 7 participating securities exchanges. The…

The Securities and Exchange Commission (SEC) has urged commodities exchanges in the country to have investor protection at the centre of their operations in a bid to improve investor confidence and attract more investors. Director General of the SEC, Mr. Lamido Yuguda gave the charge during the presentation of Eko Gold Coins to the Management of the Commission by the…

Investors in the equity market of Nigerian Exchange Limited (NGX) saw a N130billion windfall as bellwether stocks like Zenith Bank Plc and Guaranty Trust Holding Company Plc (GTCO) soared amid buying interest. The total market capitalisation of stocks listed on NGX climbed by 0.54 per cent to N23.99trillion from N23.86trillion at the end of trading on Wednesday. Investors traded 159.44…

The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it plays a critical role in contributing to the objectives of the National Financial Inclusion Strategy (NFIS) through the provision of deposit insurance coverage to depositors of licensed banks. Director, Communication & Public Affairs Department, NDIC, Bashir Nuhu in a statement said the Corporation’s activities through the supervision of banks, not only…

Domestic airlines have taken the Federal Government, foreign technical partner and majority shareholders to court over a proposed plan to launch a flag carrier project. The domestic airlines, under the Registered Trustees of the Airline Operators of Nigeria that sued the government are Air Peace, Azman Air, Max Air, Topbrass Aviation, and United Nigeria Airlines. A total of eight local…

The Central Bank of Nigeria (CBN) has directed bank customers across the 36 states to utilize its branches and deposit their current N200, N500, and N1,000 notes. According to the apex bank, new N200, N500, and N1,000 notes will go into circulation from December 15, while the current notes will cease to be legal tender by January 31, 2023. The…