Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning infrastructure gap. But…
Day: July 8, 2022
External Reserves Gain $679.12M In One Month
NIGERIA’S external reserves returned to a growth path after gaining $679.12m. However, Figures obtained from the Central Bank of Nigeria…
NatWest Hands Staff Pay Rise To Ease Impact Of Soaring Inflation
British bank NatWest has joined rivals in handing out an unscheduled pay boost; to staff to help shield them from…
Half Of Britons Buy Less Food As Prices Surge
Almost half of British people have cut back on food purchases as prices surge; while others are having to spend…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded…
DeFi Ecosystem Lost $156 Billion In Total Value Locked In Q2 2022
Currently, the cryptocurrency space has lost a great deal; especially with Bitcoin posting its worst quarterly performance in 11 years.…
Airtel Reduces Debt To Parent Company By $450 Million
Airtel Africa announced that it has redeemed up to $450 million out of the $1 billion loan it owes to…
Naira Falls At I&E Window Despite Massive Improvement In Dollar Supply
The exchange rate between the naira and the US dollar closed at N428.16/$1: which at the Investors and Exporters (I&E)…
Ardova Plc Blames Subsidiaries For N3.8 Billion Full Year Loss
Oil and gas retail giant, Ardova Plc reported a loss of N3.8 billion for the year ended December 2021. This…
Debt Management Office Lists $1.25 Billion Eurobond On NGX, FMDQ
The Debt Management Office (DMO) has announced plans to list the 8.375%, $1.25 billion; March 2029 Eurobond on the Nigerian…
Neimeth To Commence N3.67Billion Right Issue In August 2022
Neimeth International Pharmaceuticals Plc has concluded arrangements to commence its N3.67 billion right issue; to the existing shareholders of the…
Stock Market Closes Flat, Valuation Up By N12 Billion
The NGX closed on a flat note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 1…
Ghanaian Cedi Drops By A Whopping 30% Against The US Dollar In 6 Months
The Ghanaian cedi has lost 30.56% against the US dollar in 6months. The drop in the Cedi comes despite Ghana’s…
China Tightens Rules On $1.3 Trln Credit Card Business
China unveiled tighter rules to better regulate its $1.3 trillion credit card industry; further urging lenders to adopt a “prudent”…