Business

A technology enthusiast, Mrs. Roseline Ilori, has reiterated the need for government at all levels as well as stakeholders to invest massively in technology; not just software development, but in robotics, artificial intelligence, bio-medicine, voice biometrics and a host of other technology spectra to tackle physical and cyber security challenges Ilori, the founder and Chief Executive Officer (CEO) of Bridge57…

After days of consecutive bullish sessions, the equities market of the Nigerian Exchange Limited (NGX) yesterday depreciated by N128billion as bearish proceedings dominated the trading session. The All Share Index (ASI) decreased by 234.60 basis points or 0.52 per cent to close at 44,625.18 points. Similarly, market capitalisation lost N128 billion to close at N24.306 trillion. The downturn was impacted by…

Zenith bank Plc reported N202.55billion profit before tax in the third quarter (Q3) ended September 30, 2022 from N179.8 billion reported in nine months of 2021, amid hike in its operating and interest expenses. Due to inflationary pressure and the rising cost of doing business, operating costs grew at 17 per cent to N255.23billion in Q3 2022 from N218.91billion in…

The Securities and Exchange Commission (SEC) has stated that the Non-Interest segment of the capital market is capable of financing the housing sector which will lead to better well-being of the citizenry as well as general performance of the other sectors of the economy. Director General of the SEC, Mr. Lamido Yuguda who stated this during a Webinar with the…

Bullish sentiments persisted in the equities market of the Nigerian Exchange Limited (NGX) as investors’ interest in BUA Cement Plc and 11 others lifted the All-Share Index by 0.16 per cent. As the NGX All Share Index (ASI) rose by 71.64 basis points or 0.16 per cent to close at 44,859.78 basis points from 44,788.14 basis points, investors gained N39…

The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, said the digital currency, eNaira, has recorded N8billion transactions in its one year of introduction. He disclosed this while delivering his speech at the ‘eNaira 1-year anniversary’ event in Lagos on Tuesday. He said: “Specifically, there has been overwhelming interest and encouraging response from Nigerians and other parties across the world…

Chief Executive Officer, National Petroleum Authority (NPA) of Ghana, Mustapha Abdul-Hamid, said the coming onstream of the 650,000 barrels-per-day (bpd) Dangote Petroleum Refinery will transform the Ghanaian downstream sector through the reduction in the cost of importation of petroleum products. Speaking at the 16th Oil Trading and Logistics Expo in Lagos with the theme: “Regulating Downstream Energy Transition in Dynamic…

Nigerian equities on Tuesday extended gains for the fourth consecutive session as market capitalisation gained N178 billion. The All Share Index (ASI) rose by 326.51 basis  points or 0.73 per cent to close at 44,788.14 basis points. Accordingly, investors gained N178 billion in value as market capitalisation went up to N24.395 trillion. The upturn was impacted by gains recorded in…

Trading activities in the local bourse resumed the week on a positive note with N35 billion gain, as bargain-hunting in MTN Nigerian Communications (MTNN) Plc and seven others supported market performance. The All Share Index (ASI) rose by 64.90 points, representing an increase of 0.15 per cent to close at 44,461.63 points. While the overall market capitalisation value gained N35…

Strategic Capital Investment Limited (SCIL), the company that purchased 100 per cent stake in Polaris Bank on Friday announced the appointment of Alhaji MK Ahmad as Chairman, while Mr. Adekunle Sonola becomes the Chief Executive Officer of the bank. The appointment is on the backdrop of completion of Share Purchase Agreement (SPA) for the acquisition of 100per cent of the…