Coronavirus: Ethiopian undertaking all China flights, Nigeria issues advisory
The air travel impact of the raging corona virus is hitting home here in Africa with two major developments from…
Year: 2020
How some experts are explaining Tesla’s insane stock
Tesla (TSLA) shares continued their mind-bending rally on Tuesday. After gaining almost 20% on Monday, the stock rallied another 13.73%…
Wall Street recovery continues on China stimulus measures
The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six…
Dangote tomato company resumes production in Kano
The Dangote Tomato Processing Company, Kadawa, says it has recruited no fewer than 100 skilled and casual workers ahead of…
Nigerian Breweries to raise N45bn from commercial papers
Nigerian Breweries has revealed plans to raise N45bn from its commercial paper issuance. The company announced the launch of Series…
Nasdaq cuts gains as Tesla shares plunge
A plunge in Tesla shares spoiled some of the market’s comeback rally on Wednesday, pushing the Nasdaq Composite well off…
Fund of funds, missing link in Nigeria’s mutual fund industry
The Nigerian mutual fund industry has come a long way. From one fund with less than N20 million in 1991…
NAHCO reacts to $8.06 million intercepted by Customs at Lagos Airport
The Nigeria Customs Service disclosed on Tuesday that it intercepted $8.06 million at the Murtala Muhammed International Airport, Lagos from…
Currency in circulation increases by N240 billion in one month
The currency in circulation increased by N240 billion between November and December 2019. This was stated in the Central Bank…
SON destroys N480m substandard goods, raises concerns about importation
Notwithstanding the closure of the land borders by the Federal Government, the Standards Organisation of Nigeria (SON), has said many…
Siemens licenses Tranos to manufacture power boards locally
Nigeria’s leading engineering and manufacturing company – Tranosis pleased to announce a new partnership with Siemens for the manufacturing of…
Challenges loom for Nigeria as OPEC may cut 500,000bpd
There are indications that Organisation of Petroleum Exporting Countries (OPEC), and its allies, especially Russia, will further cut oil supply…
FG approaches China for $17bn loans
The Federal Government on Tuesday explained why it decided to approach the China-Exim Bank for a $17bn loan request. It…
Banks recover N39.4bn non-performing loans from ICT sector
Nigerian banks recovered N39.4bn non-performing loans from its debtors in the Information and Communications Technology sector in one year. As…
Customs investigate $8.07m seized at Lagos airport
The Nigeria Customs Service on Tuesday said it intercepted $8,065,612m (N2.92bn) at the Murtala Muhammed International Airport, Lagos. The Comptroller…
FAAN terminates firm’s contract on Lagos airport tollgate
The Federal Airports Authority of Nigeria has terminated the concession of the tollgate of the Murtala Muhammed International Airport, Lagos…
Alphabet shares tumble as Google underwhelms
Alphabet reported quarterly revenue that missed analysts’ estimates on waning search advertising growth, while new sales numbers on YouTube also…
Stock investors lose N207bn in 2 days
The equities market went down for two straight days yesterday following losses in some blue chip companies with investors losing…
Consolidated Hallmark Insurance Applies to Raise N1.057bn Capital
Consolidated Hallmark Insurance Plc (CHI) has applied to raise about N1.057 billion from shareholders via a rights issue, as part…
BREAKING: Police, Air Force take over MMIA toll gate
Policemen and Nigeria Air Force personnel were on Tuesday drafted to the Murtala Muhammed International Airport ( MMIA ) Access…
Markets Wrap
U.S. equity futures jumped with European stocks after a brutal sell-off in Chinese equities halted on Tuesday and as investors…
Stock market opens week with N160bn loss
The nation’s stock market opened the week with N160bn loss as sell pressures in BUA Cement Plc, Zenith Bank Plc…
Brexit: Buhari, UK Prime Minister agree on new trade relationship
President Muhammadu Buhari has called for a review of trade relations with the United Kingdom (UK) following the country’s exit…
GTBank, Dangote Cement, Zenith Bank, make ARM’s hot stocks list
The stocks of Dangote Cement Plc, Zenith Bank Plc, Nestle Plc, Nigerian Breweries Plc, and Seplat Plc are shares of…
Federal Govt to pay N272.9bn maturing bonds
The Federal Government allocated 2.6 per cent of its total expenditure totalling N272.9bn to settle pending contract obligations in the…
Demurrage: Price increase looms, importers besiege SON
The inability of importers to upload the Standards Organisation of Nigeria’s Conformity Assessment Certificate on the Nigeria Customs Service trade…
Gaming companies short-change FG by N591bn in 14 years — Burunji Kashamu
Lottery and sports-betting companies operating in the country have defaulted in tax payment and other remittances to the federal government…
Budget under threat as oil sinks to $54
The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below…
Dow Futures Spike 165 Points Despite Dangerous Warning from Bond Markets
Dow futures rally triple-digits overnight, as U.S. stocks appear poised to extend Monday’s gains. The rally shrugs off a frightful,…
Exxon Mobil Stock Could Bottom Out in 2020
Dow component Exxon Mobil Corporation (XOM) sold off to a nine-year low on Friday after missing modest fourth quarter 2019…