Business

The equities market of the Nigerian Exchange Limited (NGX) on Thursday depreciated as investors remain cautious in anticipation of the upcoming Monetary Policy Committee (MPC) meeting next week. Thus, the NGX-All Share Index (NGX-ASI) declined by 231.57 basis points or 0.47 per cent to close at 49,190.34 basis points. Similarly, market capitalisation lost N125 billion to close at N26.533 trillion.…

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday closed the trading session weaker as market capitalisation lost N12 billion. The All-Share Index (ASI) decreased by 23.40 basis points or 0.05 per cent to close at 49,421.91 basis points. Similarly, the overall market capitalisation size shed N12 billion to close at N26.658 trillion The downturn was impacted by…

Access Holdings Plc has received a regulatory nod from the Central Bank of Nigeria (CBN) on its wholly owned payment subsidiary, Hydrogen Payment Services Company Limited (Hydrogen) A disclosure signed by the Company Secretary, Sunday Ekwochi, stated that the new payment system is projected to become Africa’s most powerful business network for financial service providers and other stakeholders. According to…

The Debt Management Office (DMO) has stated that Nigeria’s total public debt stock, rose to N42.84 trillion in June 2022 from N41.60 trillion in the previous month. This is according to a statement obtained from DMO’s website. The total debt is the local and foreign debt stocks of the entire country including all the states. The DMO stated that the foreign component…

The introduction of the “Race to $200 billion in FX Repatriation” (RT200 FX) by the Central Bank of Nigeria (CBN) has spurred significant improvement in the country’s export remittances, the apex bank has revealed. Principal Manager, Trade and Exchange Department, CBN, Mrs Anne Nnenna Ezekhennagha, disclosed this at the recently concluded Finance Correspondents Association of Nigeria (FICAN) 2022 annual conference…

Business mogul, Dr. Jimoh Ibrahim has been officially invited by the World Bank and the International Monetary Fund (IMF) to attend and participate in their ancillary meeting in Washington, United States in October. The invitation personally addressed to the billionaire businessman was jointly signed by the two international monetary bodies.  The letter reads in part: “We are pleased to inform…

The Securities and Exchange Commission (SEC) has reiterated its commitment to developing the commodities ecosystem in Nigeria to boost its non-oil sector. Director-General of SEC, Lamido Yuguda, stated this at the 2022 annual conference of the Finance Correspondents Association of Nigeria (FICAN), held in Lagos over the weekend, with the theme; ‘Boosting Domestic Capacity for Sustainable Export Earnings’. Yuguda who…

The Nigeria Deposit Insurance Corporation (NDIC) has been presented with the Federal Government’s Level Five (5) Platinum award for outstanding performance in corporate governance and accountability by the Bureau of Public Service Reforms (BPSR). The award is based on the Corporation’s outstanding score of 93per cent in the BPSR Self-Assessment Tool (SAT) that was deployed to Federal Ministries, Departments and…

The equities market of the Nigerian Exchange Limited (NGX) on Tuesday extended its losing streak as price decline in Airtel Africa Plc and 17 others dragged the market capitalisation downward by N186billion. The NGX All Share Index (ASI) decreased by 346.49 or 0.69 per cent to close at 49,644.92 basis points, while the market capitalisation lost N186 billion  to close at…

Four banks, Stanbic IBTC Holdings Plc, Zenith Bank Plc, Guaranty Trust Holding Company Limited (GTCO) and Fidelity Bank Plc have declared N40.58billion interim dividend payout to shareholders in half year (H1) ended June 30, 2022 results and accounts. Fidelity Bank joined other elite banks in interim dividend payout, on the backdrop of impressive corporate earnings. Westernpost gathered that Stanbic IBTC…