AIICO, Zenith Bank, 14 Others Lift NSE Index by 0.03%

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has said Nigeria is in dire need of foreign direct investment (FDI) more than ever before, tasking domestic and foreign investors to make Nigeria their investment hub because efforts are being made to formulate business-friendly policies. Mr Shettima, while speaking when he hosted the management of First Surat Group, as well as top management of MTN Nigeria at the presidential villa in Abuja, charged MTN Nigeria to facilitate and spearhead digital mobile money and digital education. He assured that President Bola Tinubu was willing to partner with various stakeholders in the

By Dipo Olowookere The domestic currency had a breather in the peer-to-peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, with its value strengthening against the Dollar at the two windows. This was supported by the ease in the forex demand pressure during the trading session, which had the official market, the Investors and Exporters (I&E) arm of the market, non-operational yesterday due to the public holiday observed in the country for Eid el Maulud. Many customers who may have needed FX for their transactions stayed back to enjoy the work-free day, easing off

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Modupe Gbadeyanka Bad debts worth N400 billion have been sold by the management of Unity Bank in preparation of injection of fresh capital into the financial institution by new investors having talks with the company. Few days ago, the board of Unity Bank confirmed that it was having discussions with new potential investors interested in pumping money into the bank, which has struggled for survival lately. In the statement issued by the lender, the ongoing talks would soon be completed and the shareholders would be informed details of the new deal to be struck with the unnamed “prospective investors.”

By Investors Hub European stocks succumbed to selling pressure on Monday as Germany faced a political crisis over immigration and trade worries persisted ahead of a July 6th deadline when the United States is due to impose tariffs on Chinese exports. Weak manufacturing data from China, Europe and the U.K. has also weighed on the markets. While the German DAX Index has fallen by 0.4 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are both down by 0.8 percent. Nestle shares are marginally lower after U.S. activist investor Daniel Loeb ratcheted up pressure on the Swiss

By Dipo Olowookere Legendary Nigerian footballer and philanthropist, Nwankwo Kanu, is launching the biggest lotto in Africa to raise funds for the Kanu Heart Foundation (KHF) and help build a specialist cardiac hospital in Abuja. The KHF lotto offers a jackpot starting at N1 billion and will be run in conjunction with AfroMillonsLotto. It offers twice-weekly draws with bigger jackpots than all the lotteries in Nigeria combined, as well as being the largest jackpot anywhere in Africa. Twenty percent of every ticket sold will go directly to KHF to help it continue its work ensuring underprivileged children across Africa with

By Modupe Gbadeyanka It was a day of honour for Union Bank of Nigeria Plc at the Nigeria2Equal Gender Leader Awards held in Lagos recently by International Finance Corporation (IFC) in partnership with the Nigerian Exchange (NGX) Limited. The bank went home with two awards for its contribution to advancing gender equality in the workplace in the Gender Equality Champion and Gender Diversity in Supply Chain categories. The recognition highlighted Union Bank’s commitment to advocating for diversity within corporate organisations, cultivating an inclusive culture that values and respects every individual. Expressing her delight at the notable recognition, the Chief Brand

By Dipo Olowookere The Nigerian Stock Exchange (NSE) closed for the week on Friday 0.45 percent higher ahead of the Christmas celebration next Monday. This growth recorded today stretched the upward trend to the third straight trading session with the Year-to-Date (YtD) increasing to 43.34 percent. Business Post reports that the All Share Index (ASI) increased today to 38,522.14 points from 38,350.64 points yesterday, while the market capitalization finished at N13.709 trillion in contrast to N13.648 trillion it ended on Thursday. However, the volume shares traded by investors on Friday fell sharply by 52.38 percent from 429.4 million to 204.5

By Modupe Gbadeyanka A contemporary Turkish-Mediterranean fusion brasserie and lounge, The GALLIARD, has commenced operations in Dubai, United Arab Emirates (UAE). Building on the success of The GALLIARD in Istanbul, founding partner of the firm, Ahmet Uras and his team hosted the official opening party at their Dubai offering at The Address Downtown Hotel. The reveal of the eagerly awaited venue was attended by top media, Dubai’s leading influencers, Hollywood A-listers and VIPs during a glamorous cocktail party featuring a spectacular performance by the multi-platinum American recording artist: Kelis and the musical stylings of the talented violinist Hanine El Alam.

By Aduragbemi Omiyale Not less than $10 billion is lost by Nigeria annually to Illicit Financial Flows (IFFs), the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has disclosed. Speaking recently at a review of the report on IFFs in relation to tax, Mr Owasanoye revealed that this loss represents 20 per cent of the estimated $50 billion Africa loses to IFFs. “The African Union Illicit Financial Flow Report estimated that Africa is losing nearly $50 billion through profit shifting by multinational corporations and about 20 per cent of this figure is from

By Investors Hub Asian stocks plunged on Thursday, mirroring an overnight sell-off on Wall Street as renewed trade tensions between Washington and Beijing dampened the outlook for economic growth and corporate profits. Chinese stocks joined a global rout to hit multi-year lows. The benchmark Shanghai Composite Index plunged over 6 percent before recouping some loss to end the session down 142.38 points or 5.2 percent at 2,583.46, the worst single-day loss since February of 2016. Hong Kong’s Hang Seng Index tumbled 926.70 points or 3.5 percent to 25,266.37. Japanese shares hit a one-month low as a profit forecast cut by