Business & Finance

Ngx Stock Market Suffers N37bn Decline

Wednesday, February 8, 2023
The stock market suffered N37bn decline on Tuesday following a six-day successive bullish run on the floor of the Nigerian Exchange Limited after profit-taking activity. This bearishness was driven by price depreciation in large and medium capitalised stocks including Geregu Power, Dangote Cement ...

Ardova Plc Is On The Cusp Of Going Private

Wednesday, February 8, 2023
Ardova Plc is on the cusp of going private, a statement by its directors 39; board showed on Monday, roughly forty-five years after the company listed in Lagos. If the transaction goes through, Ardova will be delisted from the Nigerian Exchange. Ignite Investments Commodities Limited, the i ...

Govt To Renovate Abandoned Overseas Properties

Wednesday, February 8, 2023
The Minister of Foreign Affairs, Geoffrey Onyeama, and the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Michael Ohiani, have met in Abuja to fashion out alternative funding sources to uphold the country rsquo;s mission abroad and develop or acquire new properties f ...

Nigeria Set To Make Oil Production, Cargo Data Open

Wednesday, February 8, 2023
After 66 years of oil production, Nigeria government is set to introduce accountability and transparency measures into the production of oil and gas. The Federal Government has revealed plans to introduce accountability and transparency measures into the production of oil and gas amid continuous ...

NGX Bank Index Raised Stock Market By N1.08tn

Tuesday, February 7, 2023
Despite investors rsquo; sentiment trading and uncertainty surrounding the 2023 general elections, the anticipation for dividend payout and sectoral performance of the NGX banking index raises the stock market capitalisation by N1.08tn in January. The market capitalisation of all listed stock on ...

Businesses To Shutdown Over Naira Crisis, NECA

Tuesday, February 7, 2023
Nigeria Employers rsquo; Consultative Association has predicted the shutdown of small businesses if the lingering naira crisis persists. The Director-General, NECA, Mr Wale Oyerinde, said with the rising inflation and reduction in purchasing power of consumers, the nation could witness the death ...

Concerns Raised Over Increase In Illegal Fund Managers, SEC

Tuesday, February 7, 2023
The Securities and Exchange Commission (SEC) expressed concerns regarding the prevalence of illegal fund managers rsquo; activities as well as the proliferation of unlawful investment outfits. Head, Office of the Chief Economist of the SEC, Dr. Okey Umeano, stated that the upsurge in the activiti ...

Interswitch Obtains Holding Company Licence

Tuesday, February 7, 2023
Interswitch Group, one of Africa rsquo;s leading financial technology and integrated payments solution providers, has recently announced receipt of a payments service holding company (PSHC) licence from the Central Bank of Nigeria (CBN). This follows an earlier announcement by the CBN regarding n ...

Experts Urge FG To Adhere To Fiscal Responsibility Provisions

Tuesday, February 7, 2023
With the overwhelming of negative ratings as regards the nation rsquo;s economic outlook in the last few weeks, the nation can record meaningful growth if the Federal Government adheres to fiscal responsibility provisions and desists from funding responsibilities beyond its resources, experts have s ...

NIPC Moves To Improve FDIs, Reduce Nigeria’s Appetite For Loans

Tuesday, February 7, 2023
The Nigerian Investment Promotion Council (NIPC) has initiated steps to curtail future borrowings by boosting the country rsquo;s foreign exchange earnings as Nigeria rsquo;s debt profile continues to rise. Speaking on the direction with the media in Lagos yesterday, the Executive Secretary/Chief ...
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