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…
Year: 2022
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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;…
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…
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…
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…
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…
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…
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…
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…
US Slips Into Recession After GDP Contracts By 0.9% In Q2 2022.
The United States of America recorded a 0.9% contraction in its gross domestic product in the second quarter of 2022.…
Exxon Posts Record-Breaking Second-Quarter Profit.
Exxon Mobil Corp (XOM.N) posted its biggest quarterly profit ever on the back of soaring energy prices; and as it kept a…
Global Equity Funds Record Fifth Weekly Outflow In A Row.
Global equity funds witnessed weekly outflows for a fifth week in July on caution ahead of the U.S. Federal Reserve’s…
Oil Rally To Stall As Recession Risks Counter Tight Supplies.
A rally in oil prices could stall as recession fears and COVID flare-ups in China slow demand and counter supply…
Bears Maintain Dominance In The Stock Market, NGX Lose N281 Billion.
The Nigerian stock market closed negative amidst buy-interests and sell-offs as bears dominated proceedings; weighing down the broad market by…
Bitcoin, Ethereum Break The Roof, Over 90K Short-Sellers Lose All.
The price of bitcoin is currently hovering above $24,000, up more than 4% on the day as markets embraced the…
Ether Rallies Above $1,700 As Developers Announce Date For “Goerli Testnet Merger”
Looks like Ether, the native token of the Ethereum blockchain is leading the end-of-month rally in the cryptocurrency space; as…
Debt Management Office Lists Triple-Tranche Bonds On Nigerian Exchange
The Debt Management Office (DMO) has listed a triple-tranche of $4 billion Eurobonds, $1.25 billion Eurobonds; and N250 billion Sukuk…
German Inflation Rises Unexpectedly After Fall In Russian Gas Supply.
German inflation edged up unexpectedly in July after a further reduction in gas flows from Russia prompted concerns of even…
Prada’s mid-term targets look closer after strong first half
Luxury fashion group Prada beat first-half sales and profit forecasts and said it could reach its mid-term targets earlier than…
Exchange Rate Falls Further To N718/$1 At Black Market.
Naira has depreciated to a record low at the black market after the local currency closed trading at N718/$1. This…
The Global Recession Drum Beat Is Getting Louder.
Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction; that the world economy is…