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Inflation

CBN Strikes Against Inflation Menace

May 26, 2022
By Lukman Otunuga In a move that caught investors completely off guard on Tuesday, the Central Bank of Nigeria (CBN) raised its benchmark interest rates for the first in almost 6 years to tame inflation. Given Nigeria’s fragile economic recovery and steps taken to achieve normality post-Covid-19, this decision from the CBN was unexpected – even as other central banks
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Blockchain adoption

How Blockchain Technology Can Power Stock Market

May 26, 2022
​The value of cryptocurrencies as well as their acceptance by governments and for business transactions is constantly in the news but conversations are gradually shifting away from the legitimacy and regulation of cryptocurrency to the underlying decentralised technology that powers crypto-trading, blockchain technology. Blockchain is a virtual ledger that has the ability to record and verify a high volume of
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tonnes of fertilizer

Russia, Canada to Supply Nigeria 105,000 Tonnes of Fertilizer

May 26, 2022
By Adedapo Adesanya Nigeria is set to receive a supply of 105,000 tonnes of fertilizer (raw material) from Russia and Canada on June 3 and June 6 respectively. This is according to the Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, at the ministerial press briefing at the State House on Thursday. He
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faac allocation

FG, States, LGs Get N656.6bn Allocation for May 2022 from FAAC

May 26, 2022
By Aduragbemi Omiyale The sum of N656.6 billion has been distributed to the three tiers of government as allocation for May 2022, a communiqué from the Director of Information, Press and Public Relations at the Office of the Accountant-General of the Federation, Henshaw Ogubike, has confirmed. In the notice released after the rescheduled monthly Federation Account Allocation Committee (FAAC) meeting
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Politics

local bourse bear market

Airtel Africa, Others Revive Local Bourse by 0.84% Despite Bearish Sentiment

May 17, 2024
By Dipo Olowookere The Nigerian Exchange (NGX) Limited ended in the green territory on Thursday after it gained 0.84 per cent, thanks to Airtel Africa and some insurance equities. However, investor sentiment at the local bourse remained weak as a result of sustained profit-taking in the banking and consumer goods sectors. Data showed that the insurance index was the sole
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Nigerian Stocks

Stocks Bleed Further by 0.49% as Nestle Sheds N70.20k

By Modupe Gbadeyanka Trading activities on the floor of the Nigerian Stock Exchange (NSE) remained bearish on Thursday amid sell-off by investors. For the fourth straight trading session this week, the market closed negative, going down by 0.49 percent at the close
February 8, 2018
AfDB Nigeria Country office

18 African Countries Grew GDP Above 5% in 2017—AfDB

By Modupe Gbadeyanka President of the African Development Bank Group (AfDB), Mr Akinwumi Adesina, has revealed that in 2017, the average GDP growth in Africa was 3.6 percent, up from 2.2 percent in 2016. According to him, last year, 18 African countries
February 8, 2018

Farmers Target N147b From Cashew Exports in 2018

By Modupe Gbadeyanka Cashew farmers in Nigeria are planning to earn about N146.8 billion ($480 million at the CBN exchange rate of N305.80 to a Dollar) from exporting the commodity this year. President of National Cashew Association of Nigeria (NCAN), Mr Tola
February 8, 2018

QNB Group Closes Syndicated $3.5b Loan Facility

By Modupe Gbadeyanka Largest financial institution in the Middle East and Africa, QNB Group, has announced the successful closing of the syndication for its $3.5 billion three year senior unsecured term loan facility. The syndication was well supported by 21 international lenders
February 8, 2018
Treasury Bills CBN Sold

FG to Use $2.5b Eurobond to Refinance N762.5b Maturing Bills

By Modupe Gbadeyanka The planned issuance of $2.5 billion by the Nigerian government would be used to refinance some maturing treasury bills worth N762.5 billion. This disclosure was made by the Minister of Finance, Mrs Kemi Adeosun, on Wednesday after the weekly
February 8, 2018
mtn-sells-shares

MTN to List N153b Shares on NSE Soon

By Modupe Gbadeyanka South African firm, MTN Nigeria, is planning to finally list its shares worth about N153 billion ($500 million) on the Nigerian Stock Exchange (NSE) before the end of first half of this year. The leading telecommunications company in Nigeria
February 8, 2018

Overnight Rate Jumps to 53% on Absence of OMO Sales

By Dipo Olowookere Nigeria’s interbank lending rate on Wednesday slightly rose above 53 percent on a day the Central Bank of Nigeria (CBN) released a ‘No-Sale’ OMO result. Business Post gathered that this was as a result of low bids received by
February 8, 2018
Equities Market bearish bullish

Nigerian Stock Market Still in Red as YtD Gain Drops to 13.85%

By Dipo Olowookere Equities market in Nigeria closed negative again on Wednesday with major market indices finishing in the red zone. Profit-taking by investors dragged the market down by 0.77 percent, while the Year-to-Date (YtD) return dropped to 13.85 percent. The All-Share
February 7, 2018
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