BREAKING: CBN restricts forex for milk import to Nestle, Chi, Friesland, 3 others
The Central Bank of Nigeria (CBN) has restricted foreign exchange for milk importation to six companies in Nigeria to boost…
Month: February 2020
FG says ‘extension’ needed on West Africa currency launch
West African powerhouse Nigeria on Monday called for a delay to the launch of a region-wide currency tentatively scheduled to…
Access Bank seeks listing of N15bn green bond
Access Bank Plc has announced its intention to list its N15 billion 15.50 percent fixed rate unsecured climate-credential green bond…
Stock market down N154bn on sale pressure
The equities market closed on Monday on a negative note, declining by 1.05 per cent as investors sold off shares…
How underwriters’ earnings renew investors’ hopes
Determined to increase the shareholders’ confidence in the nation’s insurance industry, the 2019 underwriting performance of the sector operators, particularly…
Pressure on equities defy earning season, index slumps by 2.69 per centp
Despite improved numbers in 2019 full year result churned out by quoted companies, sentiments remained weak in the equities market,…
Maersk, Safmarine deny dumping Lagos, as port challenges affect operations
Despite challenges affecting their operations in Lagos port, Maersk, the world’s largest container carrier, and Safmarine, a subsidiary of Maersk,…
Toyota suspends operations in China over Coronavirus outbreak
Toyota, the world’s second-largest automaker, has announced that its auto plants located in China would remain shut due to the…
Aella Credit raises $10 million debt financing round from Singapore
Aella Credit said it has secured a $10 million debt financing round from Singaporean company – HQ Financial Group. This…
Leveraging capital market potential to accelerate growth
Capital market, globally, is one of the most important platforms for financial deals, particularly, in raising capital for economic activities…
How N7.5 billion GPW will boost policy holders’ confidence
As insurers express commitment to the ongoing industry recapitalisation exercise, they have explained that a process is a form of…
Investors still wary despite Finance Act’s facelift
Until the numbers begin to fall in place and infrastructure investments that are needed to facilitate businesses are clearly seen,…
3 Reasons Why the Stock Market is Headed for a Devastating Crash
The Wuhan coronavirus outbreak is getting worse by the day, but thanks to massive central bank intervention, stock markets shrugged…
Tesla surges 9% after reopening its Shanghai factory following coronavirus shutdown (TSLA)
Tesla’s Shanghai Gigafactory is expected to reopen Monday following a closure related to the coronavirus outbreak, and will receive government…
Jeff Bezos Is Selling Because Amazon Stock Is In Serious Trouble
Jeff Bezos has been on an Amazon stock (NASDAQ:AMZN) selling spree. In the last week, he dumped $4 billion worth…
IMF moves to replace first Deputy MD, David Lipton
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva has announced that the institution’s first Deputy Managing Director,…
Ecobank holds digital skills training for female entrepreneurs
ECOBANK Nigeria has trained over 140 female business owners on digital marketing skills as part of its initiative to continuously…
Mixed earning reports, rebound in T-bills stop rate to pressure equities
AS quoted companies continue to release their 2019 full year earnings reports, investment analysts have indicated the possibility of negative…
Tony Elumelu Foundation disburses first tranche of $5million partnership commitment from African Development Bank
Tony O. Elumelu, CON, has congratulated the African Development Bank (AfDB), and its President, Akinwumi Adesina, on their commitment to…
Flour Mills finance cost drops by 20% to N4.3 bn in Q3
FLOUR Mills Nigeria Plc has recorded 20 percent, year-on-year decline in its finance cost to N4.3 billion, in the third…
Nigeria to receive first tranche of World Bank’s $3 billion loan soon
Nigeria is expected to receive the first tranche of its $3 billion loan request from World Bank as soon as…
Recapitalisation: Insurance stocks dormant despite deadline extension
THE shift in the deadline for insurance firms to beef up their capital in compliance with the new minimum capital…
New VAT regime, upward inflationary pressures are key economic headwinds – Cordros Research
Cordros Research has declared that the new Value Added Tax, VAT regime and persistent upward inflationary pressure are key economic…
100 tonnes of mutilated naira notes destroyed weekly—CBN
THE Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and…
Investors lose N153.6 bn amid sell-offs in blue-chip companies
Investors in the nation’s stock market on Monday (today) lost over N153.6 billion of their investment following the sell-offs of…
Amazon’s Jeff Bezos sells stock worth of $3.5bn
Jeff Bezos is on a selling spree. Stock disposals by Amazon.com’s founder and CEO over the past week have reached…
US, Nigeria hold talk on commercial & investment in Washington D.C
No doubt, this week was loaded, especially in Washington D.C, where representatives from the United States of American and Nigerian…
Lagos state turns to Bolt, Uber; tackles them on operation permit
These are not good times for ride-hailing companies and their patrons in Lagos, as Governor Babajide Sanwo-Olu led administration has…
Credit Suisse chief Tidjane Thiam ousted after spying scandal
The Credit Suisse chief executive, Tidjane Thiam, has been ousted in the wake of a saga involving corporate espionage, an…
EFCC to probe $8m intercepted by Customs
The Nigeria Customs Service has said it will hand over the $8,065,612m intercepted at the Murtala Muhammed International Airport, Lagos…