business news,insider business news on Businesspost Nigeria April 25, 2024

Business

Traders Cash Out as El Salvador Adopts Bitcoin

September 7, 2021

By Adedapo Adesanya The central American nation of El Salvador on Tuesday set a world-first record as it became the first country to adopt the popular cryptocurrency, Bitcoin, to pay for goods and services – even taxes. However, profit-takers ran to cash out from earlier gains from expectations with Bitcoin (BTC) as at 4:45 p.m. (Nigerian time) falling more than

NNPC to Sell Shares Via IPO in 2024—Kyari

September 7, 2021

Economy

By Adedapo Adesanya The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, has disclosed that the state-owned oil firm will sell its shares to members of the public through an initial public offering (IPO) in 2024. Mr Kyari made this disclosure in an interview with Bloomberg on Tuesday. He further said the IPO will help Nigeria

African Alliance to Host Insurance Brokers in Port Harcourt

September 7, 2021

Economy

By Dipo Olowookere On Wednesday, September 15, 2021, critical stakeholders in the insurance industry in the country will gather in Port Harcourt, Rivers State, to discuss ways to deepen the sector and make it more attractive to Nigerians, especially in terms of purchasing insurance products. The insurance sector is one that is largely untapped in this part of the world

Nigerian Exchange All-Share Index Closes Flat

September 8, 2021

Economy

By Dipo Olowookere The Nigerian Exchange (NGX) Limited closed flat on Tuesday despite the busy nature of the market during the second trading session of the week. Business Post reports that the activity level improved yesterday as investors bought Access Bank for its interim dividend as well as others, while the others offloaded a few equities like FBN Holdings. This

Oil Market Dips on Stronger US Dollar, Demand Concerns

September 8, 2021

Economy

By Adedapo Adesanya The oil market slipped yet again on Tuesday over a strong US dollar and concerns about weak demand in the United States and Asia. Industry analysts said a strengthening US dollar weighed on crude prices, making oil more expensive for holders of other currencies. This coincides with the world’s largest economy creating the fewest jobs in seven

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Politics

Investors Wealth Shrinks N673bn as MTN, FBN Holdings, Oando Stocks Fall

April 25, 2024

Economy

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further depreciated by 1.20 per cent on Wednesday on persistent profit-taking spurred by low confidence in a few blue-chip stocks. The selling pressure shrank investors wealth by N673 billion during the midweek session to N55.494 trillion from the preceding day’s N56.167 trillion, and the All-Share Index (ASI) went down by 1,190.24 points

FG Mulls BOA, NIRSAL Merger, Fresh Capital Injection

By Adedapo Adesanya The federal government through the National Council on Privatisation

April 25, 2024

Resource-Backed Loans Killing African Economy—Adesina

By Adedapo Adesanya The President of the African Development Bank (AfDB), Mr

April 24, 2024

FG Revokes Additional 924 Dormant Mineral Licences

By Adedapo Adesanya The federal government has revoked an additional 924 dormant

April 24, 2024

Court Blocks First Bank’s Extraordinary General Meeting Again

By Adedapo Adesanya Plans by First Bank of Nigeria to hold an

April 24, 2024

Travel

Minister Orders NCAA to Suspend Dana Air Operations

By Modupe Gbadeyanka Flight operations of Dana Air have been suspended on the directive of the

JUST IN: Dana Air Aircraft Crash-Lands in Lagos

By Modupe Gbadeyanka A slight air mishap involving an aircraft operated by Dana Air has occurred

Eco Travels Buys Transcorp Hotels’ Calabar Subsidiary

By Aduragbemi Omiyale Transcorp Hotels Plc has sold its 100 per cent stake in its Calabar

Bintoo Hotel Considers Legal Redress Over EFCC Night Raid

By Modupe Gbadeyanka A prominent hospitality establishment, Bintoo Hotel Limited, has said it might seek a

Nigeria Gets $1.3bn from CCECC, Others for Kano-Maradi Rail

By Adedapo Adesanya Nigeria has secured $1.3 billion in funding to complete a railway project connecting

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Economy

Lafarge, Guinness Nigeria, Others Gain as NSE Index Rebounds

By Dipo Olowookere The loss recorded by the local stock market on Wednesday was quickly reversed on Thursday after closing 0.33 percent higher as a result of renewed buying interest. It was observed that the volume of equities traded yesterday increased by

September 21, 2018

General

Group Rejects INEC’s Phone Ban, Cost of Party’s Forms

By Modupe Gbadeyanka A group known as the Not Too Young To Perform (NTYTP) has rejected the ban on the use of mobile phones at voting cubicles by the Independent National Electoral Commission (INEC), urging the commission to devise better ways of

September 20, 2018

Banking

Zenith Bank’s Earnings Will Remain Broadly Stable, Upgrade Remote—S&P

By Modupe Gbadeyanka S&P Global Ratings has disclosed that Zenith Bank will continue to display better asset quality indicators than its domestic peers and sound revenue generation over the next 12-18 months despite the generally slow economic recovery in Nigeria. The rating

September 20, 2018

Economy

Asian Shares Decline in Mute Trading Session

By Investors Hub Asian stocks ended Thursday?s session on a muted note despite higher commodity prices and positive cues from Wall Street overnight. Crude oil prices extended gains after climbing to a more than two-month high on Wednesday as investors eyed disruptions

September 20, 2018

Economy

European Stocks Extend Gains Ahead of Next Week’s Fed Meeting

By Investors Hub European stocks have moved mostly higher on Thursday to extend gains for a third straight session as investors brush aside concerns about trade wars and look ahead to next week?s Federal Reserve meeting. Earlier in the day, the Swiss

September 20, 2018

Economy

US Equities Open Higher as Traders Shrug off US-China Trade War

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday, with stocks likely to see further upside after ending the previous session mostly higher. The upward momentum on Wall Street comes as traders continue to shrug

September 20, 2018

Economy

S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings

By Modupe Gbadeyanka Renowned rating agency, S&P Global Ratings, has affirmed its ‘B/B’ long- and short-term sovereign credit ratings on Nigeria with a stable outlook. In a statement issued by the firm last Friday, it also affirmed its long- and short-term Nigeria

September 20, 2018

World

AfDB Secures $1b to Finance Infrastructure in Africa

By Modupe Gbadeyanka The sum of $1 billion has been secured by the African Development Bank (AfDB) to enable investment in infrastructure development across Africa. A statement issued by the continental lender disclosed that the money was obtained in partnership with its

September 20, 2018

Economy

FEC Confirms Ahmed as Finance Minister, Drops Former Portfolio

By Dipo Olowookere Mrs Zainab Ahmed has now been confirmed as the substantive Minister of Finance, Mr Femi Adesina, spokesman of President Muhammadu Buhari, has disclosed. Addressing newsmen yesterday at the close of the weekly Federal Executive Council (FEC) meeting held in

September 20, 2018

Economy

CBN Reviews Sanctions on MTN, 4 Banks to Reach “Equitable Resolution”

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Wednesday said it was having discussions with MTN Nigeria and the four banks recently sanctioned for foreign exchange infractions in order to reach an “equitable resolution.” Last month, the apex bank asked

September 20, 2018

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Economy

Investors Wealth Shrinks N673bn as MTN, FBN Holdings, Oando Stocks Fall

April 25, 2024

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further depreciated by 1.20 per cent on Wednesday on persistent profit-taking spurred by low confidence in

Economy

FG Mulls BOA, NIRSAL Merger, Fresh Capital Injection

April 25, 2024

By Adedapo Adesanya The federal government through the National Council on Privatisation (NCP) is mulling merging the Bank of Agriculture (BOA) with the Central

World

Resource-Backed Loans Killing African Economy—Adesina

April 24, 2024

By Adedapo Adesanya The President of the African Development Bank (AfDB), Mr Akinwumi Adesina, has kicked against resource-backed loans that complicate debt resolution and

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