UK Lenders Expect Biggest Fall In Mortgage Demand Since Q2 2020
British lenders expect the biggest fall in demand for mortgages since mid-2020 during the three months to the end of…
Month: July 2022
More Than 500 Women Sued Uber Over Sexual Assault Claims
Uber is being sued by more than 500 women who claim they were assaulted by drivers who use the ride-hailing platform.…
Telecom Giant MTN, BOI Offers Training And Grants Worth N2 Million To Female Entrepreneurs
Nigeria’s Bank of Industry and telecoms company, MTN, have announced a business initiative that will train female entrepreneurs and provide them…
CBN To Introduce USSD Code To Improve E-Naira
The Central Bank of Nigeria says it is set to introduce the USSD code as part of steps to improve the…
Nigerian Stocks In Seventh Day Of Flat Trade Despite Improved Transaction Volume
Nigerian stocks inched up 0.02 percent on Wednesday, marking one week of flat trade that has seen the benchmark index recording little…
Banks’ Borrowings From CBN Hits N595.34bn In Two Months
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total…
41 Million Get NINs To Escape SIM Ban.
Over 41.59 million Nigerians have obtained their National Identification Numbers; since the Federal Government first banned the sales of SIM…
Neimeth Moves To Float N3.67bn Rights Issue
Neimeth International Pharmaceuticals Plc held a completion board meeting in Lagos; to float a rights issue of N3.67bn through the…
Why 100 Basis Point Interest Rate Hike Spells Doom For Bitcoin And Crypto Market.
The Federal Reserve is to raise interest rates by 100 basis points. Which would be the biggest rise since it…
NNPC Blocks Exxon Mobil’s Asset Sale To Seplat-Nigeria.
THE Nigerian National Petroleum Company Limited has won a court decision temporarily blocking Exxon Mobil Corporation; from selling assets in…
Anambra Traders Lament New Tax Regime.
TRADERS at various markets in Anambra State, particularly Eke Awka market in Awka South Local Government Area; are lamenting the…
Bear Curve Flattening Underway, Public Debt Rises In Q1 2022 And Corporate Tax Collections Accelerate To 7-Year Highs.
Mixed trends along the curve as short-term rates rise while long-dated bonds recline; The divergent trends along the Naira yield curve…
Shareholders Of Nestle Nigeria Lose N124.05 billion Year-To-Date On Sell Pressure
Sell pressure witnessed on the shares of Nestle Nigeria Plc since the beginning of the year has resulted in investors…
US Inflation Rate Jumps To 9.1% — Highest In Almost 41 Years.
The annual inflation rate of the United States reached 9.1% in June, the highest rate in almost 41 years.The Bureau…
Naira Falls To N620/$1 At Peer-To-Peer Market As FX Scarcity Persists.
The exchange rate between the naira and the US dollar closed at N424.58/$1 at the Investors. And Exporters (I&E) window,…
Directors Of 10 Banks Pocket N6.96bn Allowance, Compensation
Directors of 10 banks collected N6.96bn sitting allowance and compensation in 2021; according to an analysis of the lenders’ financial…
African Airlines’ Cargo Volumes Drop By 1.5% In One Year.
African airlines saw cargo volumes decrease by 1.5% in May 2022 compared to May 2021. This was disclose by the…
Nigeria Crude Oil Production Increases To 1.238 Million Barrels Per Day In June
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production; increased to an average of 1.238 million…
Microfinance Bank Launches Digital Banking Platform.
One of the fastest growing financial institutions in Nigeria , PatrickGold Micro Finance Bank; has launched a digital banking platform,…
Stakefair Launches, Raises $670,000 In Pre-Seed Funding
Stakefair, a Decentralized Finance (DeFi) company that is poised to disrupt the Real-Money Gaming industry, has launched. Stakefair allows users…
Oil Falls Below $100, Nigeria’s Production Hit 1.158mb/d
Brent, the international benchmark for crude; fell below $100 per barrel as the latest figures released by the Organisation of…
Global Startup Funding Fell 23% In Q2 2022, Largest Drop In About A Decade.
Venture capitalists are reckoning with their worst quarter in almost a decade as economic uncertainty. And lackluster returns have prompted…
Tizeti Declares First Dividend Of N2.00 Per Share For Year Ended December 2021.
Pioneer solar-based internet service provider in West Africa, Tizeti Network Limited; is set to pay its shareholders its first dividend…
Euro At Parity And Talks Of A 100 Bps U.S. Rate Hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face…
Bears Maintain Dominance As Stock Market Valuation Dips By N90 Billion.
The Nigerian Exchange Group closed negative amidst buy-interests and sell-offs as bears dominated proceedings. Weighing down the broad market by…
Crypto Lender Celsius Files For Bankruptcy
U.S. crypto lender Celsius Network said it has filed for bankruptcy; becoming the latest victim in the cryptocurrency sector to…
Court Grants N10 Million Bail To Forex Trader Charged With N20 Million Exchange Fraud.
Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court has granted bail in the sum of N10 million to one…
Building Collapses In Lagos Nigeria.
A building collapsed in the early hours of Wednesday, July 2022 in Onipanu area of Lagos State. The affected building…
Kadmos, a salary payments platform for migrant workers, raises $29.5M
Companies from across the industrial spectrum often rely on a migrant workforce employment. But being away from their domestic jurisdiction…
Russia’s Sberbank Executes First Digital Asset Issue On Its Platform.
Russia’s dominant lender Sberbank (SBER.MM) said it had carried out the first digital financial asset transaction on its own platform.…