Business

The Nigerian equities market on Thursday continued its upward trend, with market capitalisation expanding above N84 trillion. The Nigierian Eexchange Limited All Share Index (NGX ASI) gained by 642.57 basis points or 0.48 per cent to close at 133,200.00 basis points. Similarly, market capitalisation rose by N407 billion to close at N84.263 trillion. The upturn was impacted by gains recorded…

French media powerhouse Canal+ has finalized a $3 billion acquisition of South Africa-based MultiChoice Group, taking full control of leading pay-TV brands DStv and GOtv in a move poised to reshape Africa’s broadcasting landscape. The South African Competition Tribunal approved the deal on Wednesday, July 23, 2025, clearing the final regulatory hurdle for the long-anticipated takeover. With this acquisition, Canal+—which…

The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu, was honoured with the prestigious African Achievers Award at the 15th edition of the ceremony held at the historic House of Lords, UK Parliament, on July 11, 2025. The award, presented during an event that brought together royals, global leaders, policymakers, and innovators,…

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has reaffirmed the Commission’s commitment to fostering innovation in the capital market while ensuring the security of investors’ funds. Speaking during his keynote address at the Comercio Partners H2 2025 Outlook event, Dr. Agama said the SEC is actively engaging with fintech startups, blockchain developers, and quantum…

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Tuesday said that eight commercial banks have fully met their recapitalisation requirements, while others are making progress to meet the deadline. Speaking at a press briefing after the two-day Monetary Policy Committee (MPC) meeting in Abuja, Cardoso, disclosed that several banks had made significant progress in strengthening their capital…

The Economic and Financial Crimes Commission (EFCC) has officially withdrawn a 13-count fraud charge against Honeywell Group Chairman, Dr. Oba Otudeko, following moves by both parties to resolve the matter out of court. A federal high court in Lagos struck out the charges on Wednesday, effectively bringing an end to legal proceedings over an alleged N30 billion loan transaction involving…

The domestic equities market on Tuesday sustained a positive performance as the overall capitalisation rose by N395 billion, following price-uptick in Nestle Nigeria Plc and 35 others. The All Share Index (ASI) gained by 624.96 points, representing a growth of 0.47 per cent to close at 132,451.73 points. Accordingly, market capitalisation rose by N395 billion to close at N83.789 trillion.…

The Board and Management of Access Bank Tanzania, led by Chairman Protase Ishengoma, paid a courtesy visit to the State House to present the Power of 100 Africa Women Award to Her Excellency, President Samia Suluhu Hassan, President of the United Republic of Tanzania. The award was presented in recognition of President Samia’s exceptional leadership, commitment to inclusive governance, and…

The Governor, Central Bank of Nigeria (CBN), Mr. Yemi Cardoso on Tuesday revealed that Nigeria’s foreign reserves have climbed to $40.11 billion as of July 2025. He disclosed this during the Monetary Policy Committee (MPC) briefing held in Abuja. Cardoso noted that the $40.11 billion reserve level represents approximately 9.5 months of import cover, signaling a significant boost to Nigeria’s…

The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) on Tuesday sustained interest rate or Monetary Policy Rate (MPR) at 27.50 per cent amid slowdown in Nigeria’s inflation rate. After the two-day meeting in Abuja, the members also voted to  retain the asymmetric corridor at +500basis points/-100basis points.  Nigeria’s inflation rate dropped to 22.22per cent as of June 2025,…