Business

Extending the bullish run for the second consecutive session, equities market of the Nigerian Exchange Limited (NGX) posted strong gains on Thursday as the benchmark Index ended 2.03per cent stronger – the biggest single-day gain since 31 December 2021 – to settle at 49,661.87 basis points, the highest point since 17 August. Investors’ interest in index heavyweights, Airtel Africa (+7.06per…

Nigeria’s leading health care companies earned N44.043 billion as revenue in the half year of 2022, outpacing their earnings in the corresponding period of 2021 of N30.385 billion. According to the information contained from the half year financial statements of the companies,  revenues rose by 44.95per cent compared to half year 2021. The revenue growth recorded by the companies is…

Bears maintained grip as the equities market of the Nigerian Exchange Limited (NGX) extended losses into the second trading of the week, as investors sold off Seplat Energy Plc and 19 other stocks. The All-Share Index (ASI) decreased by 789.91 basis points or 1.60 per cent to close at 48,554.76 basis points. Similarly, the overall market capitalisation size shed N426…

A civil society organisation, Vanguard for Transparency and Accountability, has described the recently launched Whistle-Blower Initiative of the Lagos State Internal Revenue Service(LIRS), as an exemplary boost to the anti-corruption crusade, as it lauded the Ayodele Subair-led management for sustaining its pace-setting records in tax management reforms in Nigeria. The President of the anti-corruption crusade group, Paulycap Nnabuogor, said in…

Naira on Monday depreciated by 0.1per cent to close trading at N429.43 against the dollar from N429.07 it opened for trading at the Investors & Exporters Foreign Exchange (I&E) FX window. The local currency, officially trading at the FMDQ Exchange market recorded N432 against the dollar high and N415.00 low on Monday. However, the overnight lending rate was flat at…

Nigerian equities market on Monday opened the week on negative note as the All-Share Index (ASI) dropped by 0.05 per cent. The ASI decreased by 25.95 basis points or 0.05 per cent to close at 49,344.67 points. Similarly, market capitalisation lost N14 billion to close at N26.615 trillion. The downturn was impacted by losses recorded in medium and large capitalised…

The Zambian Minister of Commerce and Industry, Mr. Chipoka Mulenga, has sought the assistance of the President, Dangote Group, Aliko Dangote in the development of his country’s agricultural sector. Mr. Mulenga, who led a delegation from Zambia on tour of the 3.00 million metric tonnes Dangote Fertiliser plant at the weekend, called for a collaboration between Dangote Group and the…

Ecobank Nigeria and FBN Holdings Plc have reported Non-Performing Loan (NPL) above the Central Bank of Nigeria (CBN)’s five per cent threshold for banks operating in the country. Though both Tier-1 banks for the half year ended June 30, 2022, recorded decline in NPL ratio, yet it is above the CBN requirement, Westernpost can report. According to Westernpost findings, Ecobank…

The International Air Transportation Association (IATA) says foreign airlines’ funds being withheld in Nigeria increased from $450 million in May to $464 million in July. IATA said this in a series of tweets on Thursday. The figure grew by $14 million from the $450 million said to be withheld in May. The international association said Nigeria’s position towards the repatriation…

Ending three consecutive sessions of loss, the equities market of the Nigerian Exchange Limited (NGX) yesterday staged a rebound as the market capitalisation gained N43 billion amid renewed bargain hunting. In summary, the NGX All-Share Index (ASI) grew by 80.03 basis points or 0.16 per cent, to close at 49,709.46 basis points from 49,629.43 basis points it opened for trading,…