The Nigerian Exchange Limited Recorded N2bn Gain for Investors.
The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors. The All-Share Index also appreciated by 11.54 base…
Month: April 2023
Nigeria Fails to Settle its Debt to China.
Nigeria’s debt to China, which has risen to N110.31 billion over the past two years, has not been paid off.…
Kyari: NNPC Deepens Investments in AKK, OB3, Others.
The Ajaokuta-Abuja-Kano-Kaduna (AKK) gas pipeline and the OB3 gas interconnector will accommodate five billion standard cubic feet of domestic gas…
Nigeria Produces 75% of Budget Target in Q1 Despite Low Oil Production.
Despite its difficulties, Nigeria was still able to produce 115 million barrels of crude oil in the first quarter of…
Exxon Announces a Force Majeure for Lifting Crude.
Following a strike by the company’s internal workers union, Exxon Mobil has declared force majeure on oil lifting from various…
External Reserves Slide Further to $35bn.
According to data received from the Central Bank of Nigeria, the nation’s foreign reserves decreased by $112.78 million in just…
NRC Generates N12 billion, Spends N111 billion to Service Debt.
The Federal Government has spent $247.98m (or N111.23bn at the Central Bank of Nigeria’s official currency rate of N448.55 as…
According to Buhari, Marginal Oilfield Sales Brought in N203 billion.
The sale of petroleum prospecting licenses to 161 companies in its most recent marginal fields bid round brought in over…
Strike: Aviation Workers Threaten Total Shutdown.
As the second day of their strike begins, aviation workers have threatened to close the nation’s airports if the federal…
FG: 40% Salary Increase for Workers in April.
By the end of this month (April), the Federal Government will start paying the anticipated wage raise for government personnel.…
Subsidy Removal: FG Seeks Legislative Approval before Distributing $800 million to Needy Nigerians.
Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, has stated that legislative approval is pending and that…
States with the Highest Inflation Rates are Lagos, Ondo, and Bayelsa.
The three states of Ondo, Bayelsa, and Lagos had the highest rates of inflation in March 2023. NBS reports that…
NECA Rejects Tax Increases and Cautions the FG Against IMF Demands.
The International Monetary Fund’s recommendation that the Federal Government raise taxes in order to reduce borrowing will have an adverse…
GTCO Generates a N214 billion Profit.
According to Guaranty Trust Holding Company Plc, it reported a profit before tax of N214.2 billion, a 3.3% decrease from…
Employees Moved N663 billion to Other PFAs – PenCom
Since the National Pension Commission opened the transfer window, 168,768 employees have switched Pension Fund Administrators and shifted N663.761bn in…
Custodian Investment’s Dividend Payment has Received Shareholder Approval.
The board of directors and management of Custodian Investment Plc have received praise from the company’s shareholders for maintaining strong…
Amethis Collaborates with Diot-Siaci in a Deal for a Moroccan Insurance Broker.
Amethis, one of the top investment funds focused on the African continent that was established in collaboration with the Edmond…
Dangote Sugar Pays a Dividend of N18 billion.
Despite the economic difficulties that characterized the 2022 financial quarter, Dangote Sugar Refinery Plc said it will pay N18.22bn in…
Ryse Energy’s Capital Raise Funds to Support Africa Energy Expansion Plans.
Ryse Energy, a market leader in decentralized renewable energy systems with more than 4,000 units supplied or installed for customers…
Aviation Workers to Delay Flights, Airports Today.
As aviation unions promised on Sunday to start a two-day warning strike on Monday, chaos may erupt at airports around…
World Bank: 96% of Nigeria’s Revenue Utilized to Repay Debt in 2022.
Nigeria is in a more precarious position now than it was before the late 2021 global oil price boom. In…
Banks are being Investigated for Dollar Price Fixing.
The Competition Authority of Kenya (CAK) is looking into several unnamed banks over allegations that they fixed foreign exchange trades,…
Kenyan Economic Growth will Surpass Angola as Ethiopia’s Lead Grows.
The International Monetary Fund (IMF) forecasts that this year, despite Ethiopia extending its lead, Kenya’s GDP will surpass that of…
IMF: Ghana will Shortly Receive a Bailout Package.
At the ongoing World Bank/IMF Spring Meetings in Washington, D.C., Ms. Georgieva expressed hope about the future of the nation,…
Aviation Workers Plan Strike Over Minimum Wage.
Due to the Federal Government’s unwillingness to release the reviewed condition of service that was negotiated more than seven years…
Dangote Guarantees Greater Profits for Shareholders.
Aliko Dangote, the chairman of Dangote Cement Plc, has pledged to shareholders and other stakeholders that the company will increase…
Five Fintech Companies Received SEC Approval to Operate as Capital Market Operators.
The Securities and Exchange Commission has recognized five financial technology companies as legitimate capital market operators. This information was made…
NSIA Assets Reach $1 trillion and Draw $500 million in FDI.
The Nigeria Sovereign Investment Authority increased its net assets from N919.73 billion in 2021 to N1.02 trillion in 2022, a…
World Bank: Africans in diaspora remitted $95.6bn in 2021.
The managing director of Shelter Afrique, Mr. Thierno-Habib Hann, stated at the 25th Annual Harvard Africa Business Conference 2023 –…
NBCC Seeks Trade Cooperation with the UK.
When the Nigerian British Chamber of Commerce leaves on its trade mission to the UK next month, a commercial cooperation…