U.S. Crypto Firm Nomad Hit By $190 Million Theft.
U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said; the latest such heist to hit the digital asset sector this year. Nomad said in…
China Leaders Say 5.5% GDP Growth Is Guidance, Not Hard Target.
Chinese leaders told the government that this year’s economic growth of about 5.5% is a guidance; and not a hard target in a meeting. At the meeting, the top leaders…
China Raises Hope For Emerging Market Debt.
China’s commitment to restructure the $6 billion it is owed by Zambia is a good sign for Sri Lanka and others that have borrowed heavily from Beijing. In April, the…
Ether Overtakes Bitcoin In Options Market For The First Time Ever.
Ether, the native token of Ethereum’s blockchain, currently on the verge of switching its consensus mechanism; from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS), has overtaken the industry leader, bitcoin.…
Nigeria, Other African Countries Need 20,000 Pilots –Report.
Aircraft giant, Boeing has raised concern over the dearth of pilots, technicians, and cabin brew as the plane maker; In its 2022-2041 Pilot and Technician Outlook says Africa is to…
Government On Brink Of Bankruptcy- Nigeria.
Economic and financial experts at Nigeria-based economic think tank, the Centre for the Promotion of Private Enterprise, have said that the figures released by the Minister of Finance, Mrs. Zainab…
Naira crash: Peter Obi Urges Nigerians To Stop Using Dollars For Local Transactions.
Peter Obi, the presidential candidate of the Labour Party has urged the government and Nigerians to stop using foreign currencies like the US dollars for local transactions. He disclosed this…
Top Stockbroking Firms In Nigeria Trade N59.8 Billion Worth Of Stocks In July 2022.
Stanbic IBTC, FBN Quest, EFG Hermes led the list of top-performing stockbroking firms in the month of July 2022; jointly accounting for 31.6% of the total value of shares traded…
Dangote Cement Deploys Grinding Plants In Ghana, Cote D’Ivoire.
The Chief Executive Officer, Dangote Cement, Michel Puchercos, has said the company is boosting production in its Okpella plant, Nigeria, and progressing to deploy grinding plants in Ghana and Cote…
We Didn’t Increase Petrol Price, Marketers Did – Nigeria FG.
The Federal Government insisted that it had not raised the pump price of Premium Motor Spirit; popularly called petrol, above the regulated cost of N165/litre. It said the hike in…
Art Hotel Will Promote Nigerian Arts, Crafts
Minister of Information and Culture, Lai Mohammed, has said that the newly inaugurated Art Hotel in Lagos; will promote indigenous arts and crafts. Mohammed said this during the unveiling of…
Transcorp Records N13.36bn Profit.
Transnational Corporation Plc has said it recorded N13.36bn profit before tax in the first six months of 2022. A statement from the conglomerate with investments in hospitality, power, and oil…
FG Failed To Provide N100bn Electricity Subsidy – Nigeria Discos.
Electricity distribution companies on Sunday reacted officially to the takeover/restructuring of five Discos; by the Federal Government through the Bureau of Public, describing the move as a backdoor renationalisation of…
BDC Operators Urge Central Bank To Abandon Offical Rate As Naira Continues To Fall.
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN); to abandon the official exchange rate and float the Naira amid the…
NESTLE, MTN Drive SWOOTs Capitalization Down By N724 Billion.
The combined market capitalization of stocks worth over one trillion (SWOOTs) depreciated by 3.49% to close at N20.01 trillion; from N20.74 trillion the previous week, reflecting a decline of N723.86…
FUGAZ Investors Lose N42.21 Billion.
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ, depreciated by 1.89%; to close at N2.19 trillion as at 29th of July, 2022,…
Guinness Nigeria Boosts Revenue From Sales of Malta, ‘Ready to Drink’ Brands.
Guinness Nigeria Plc, a subsidiary of Diageo Plc, has announced its audited results for the period ended 30 June 2022; revealing 1147% increase in profit after tax to N15.561 billion…
UK Inflation Expectations Fall Again As BoE Nears Rates Decision.
The British public’s expectations for inflation fell again in July, a survey showed, potentially adding to the case; for the Bank of England (BoE) to increase interest rates by only…
CBN Vows To Stop Naira Fall- Nigeria.
The Central Bank of Nigeria has advised Nigerians to resist the urge of succumbing to speculative activities of some players in the foreign exchange market in the face of rising…
Nigerian Exchange Lifts Suspension On Trading In The Shares C&I Leasing.
Nigerian Exchange Limited (NGX) has lifted the suspension placed on trading in the shares of C&I Leasing Plc. The Exchange had suspended nine companies from the facilities of Nigerian Exchange…
NGX’s Top 3 Gainers For The Month Of July 2022- Nigeria.
The Nigerian equity market is now on its second consecutive month of decline as it posted a negative performance; in the month of July 2022. This is as the Central…
FG May Increase Gas Flaring Penalties- Nigeria.
There are indications that the Federal Government may increase gas flaring penalties as Nigeria races; towards achieving its commitment to the United Nations’s net-zero goal by 2060. The Chairman, Society…
2022 Half Year: MTN Reports N181 Billion Profit In 6 Months.
Nigerian telecommunication company, MTN Nigeria has reported a total profit of N181 billion for the first half of the year 2022. The amount is 28% more than what was recorded…
Telecom Italia’s Network Boss Expected To Leave Company.
The head of Telecom Italia’s (TIM) (TLIT.MI) network is expected to leave after the summer; in a move that may further complicate the phone group’s plan to split its fixed…