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Nigeria's rating

Moody’s Downgrades Nigeria’s Rating to B3 Over Sharp Fall in Revenue

October 22, 2022
By Aduragbemi Omiyale Nigeria’s rating has been downgraded to B3 from B2 by Moody’s Investors Service due to a “significant deterioration” in the country’s revenue despite an improvement in crude oil prices, the nation’s main source of earnings. In a rating report released on Friday, the agency said the downgrade affects Nigeria’s local currency and foreign currency long-term issuer ratings
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investor Resilience

2022 WIW: SEC Prioritises Investor Resilience, Sustainable Finance

October 24, 2022
By Aduragbemi Omiyale The spotlight will be on Investor Resilience and Sustainable Finance at the 2022 World Investor Week (WIW), being coordinated by the International Organisation of Securities Commissions (IOSCO). There would be weeklong activities between Monday, October 24 and Friday, October 28, for the event in Nigeria packaged by the Securities and Exchange Commission (SEC), in collaboration with the
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nigerian bourse

Nigerian Bourse Shrinks 6.67% as Investors Panic Over Scary Economic Forecast

October 24, 2022
By Dipo Olowookere The Nigerian bourse fell by 6.67 per cent week-on-week last week after 29 equities came under heavy selling pressure caused by macroeconomic uncertainty. Last week, investors were faced with a scary economic forecast from Moody’s, which raised doubts over the ability of Nigerian banks to meet their obligations due to the foreign exchange (forex) crisis in the
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unlisted stock exchange

Unlisted Stock Exchange Appreciates by N2.69bn in 42nd Trading Week

October 24, 2022
By Adedapo Adesanya The 42nd trading week at the NASD Over-the-Counter (OTC) Securities Exchange closed higher by 0.28 per cent as investors saw a reason to mop up shares trading low for gains in the coming weeks. This expanded traders’ portfolios at the unlisted stock exchange by N2.69 billion, leaving the market capitalisation swelling to N960.88 trillion from the preceding
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Virtual Asset Service

Yellow Card Gets Virtual Asset Service Licence in Botswana

October 24, 2022
By Adedapo Adesanya  Pan-African cryptocurrency company, Yellow Card, has made another significant stride in the industry, becoming the first cryptocurrency company on the continent to be granted a Virtual Asset Service (VAS) Provider licence to operate in Botswana. The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority
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Politics

ANOH Gas Plant

Tinubu To Commission Three Critical Gas Projects

May 3, 2024
By Adedapo Adesanya President Bola Tinubu will commission three critical gas infrastructure projects undertaken by the Nigerian National Petroleum Company (NNPC) Limited and its partners as part of efforts to use gas to boost the Nigerian economy. This was disclosed in a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, on Friday, adding
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Travel

Latest

NSE Market Data Workshop Holds October 4 in Lagos

By Modupe Gbadeyanka The second edition of the Nigerian Stock Exchange (NSE) Market Data Workshop has been fixed for Wednesday, October 4, 2017, at the Civic Centre, Victoria Island, Lagos. The event is in partnership with Thomson Reuters and other capital market
September 23, 2017
Real Estate Investment Trust REIT

FG Woos American Investors to Meet $25b FDI Target

By Modupe Gbadeyanka In order to achieve $25 billion Foreign Direct Investment (FDI) by 2020, surpassing the Nigeria’s Economic Recovery and Growth Plan (ERGP) set target, Federal Government has assured American investors that they would get highest returns on investments if they
September 23, 2017

AfDB Names Headquarters Auditorium After Babacar Ndiaye

By Modupe Gbadeyanka President of the African Development Bank (AfDB), Mr Adesina Akinwumi, has announced that the AfDB headquarters auditorium will from now on be named Babacar Ndiaye Auditorium. Mr Adesina made this announcement at a ceremony honouring Babacar Ndiaye at the
September 23, 2017
naira and dollar

Naira Grows At Most Market Segments on CBN $545m Boost

By Cowry Asset In the just concluded week, the Central Bank of Nigeria (CBN) injected $545 million into various segments of the interbank foreign exchange market. The Retail Secondary Market Intervention Sales (SMIS) received $285 million, the Wholesale SMIS was boosted with
September 23, 2017

NSE Index Grows 1.38% as GTBank Emerges Most Active Stock

By Modupe Gbadeyanka In the just concluded at the Nigerian Stock Exchange (NSE), the All-Share Index (ASI) and market capitalization appreciated by 1.38 percent and 1.37 percent to close the week at 35,488.81 points and N12.234 trillion respectively. Similarly, all other Indices
September 23, 2017
naira depreciate

Naira Shortage Threatens Nigerian Businesses—Report

By Modupe Gbadeyanka A report published by Bloomberg has revealed that Nigerian businesses are now battling with shortage of Naira, after overcoming the worry of getting Dollar to carry out their operations. The article titled ‘Unintended Result of Nigerian Dollar Hunt Is
September 23, 2017

Agriculture Will Solve Africa’s Rising Youth Unemployment—FAO

By Dipo Olowookere The Food and Agriculture Organization (FAO) has disclosed that farming and rural non-farm-based activities still have untapped potential to generate employment opportunities for Africa’s rising youth population. At a high level forum tagged ‘Harnessing Skills for Rural Transformation and
September 23, 2017
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