NiMet’s air quality monitoring network in deplorable state
A recent audit conducted by the Nigerian Meteorological Agency (NiMet) has found its air quality monitoring stations in a dire…
Month: August 2024
Retail investors still buyers of US equities through rollercoaster markets – research
Despite a recent sharp drop in U.S. stock markets, retail investors continued buying shares, particularly in tech stocks like Nvidia,…
Wall St Week Ahead Rollercoaster week in US stocks leaves investors braced for bumps ahead
U.S. stock markets have experienced significant volatility recently, spurred by alarming economic data and the unwinding of yen-fueled trades. The…
Futures rise on dovish Fed comments after jobs data
U.S. stock futures advanced on Friday, buoyed by dovish comments from Federal Reserve officials and robust labor market data. Nvidia…
Global oil demand needs to rise faster to absorb OPEC+ hike
Global oil demand growth needs to accelerate in the coming months to absorb the increased supply that OPEC+ plans to…
New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign investment divestments and…
FG To Pay Julius Berger N280bn To Complete Abuja- Kano Highway
The Federal Government has allocated N20 billion each month to Julius Berger Plc for the dualization of an 82-kilometre section…
Egbin Power Gets 3 ISO Certifications
Egbin Power Plc, Nigeria’s largest power generation company, has been awarded three ISO certifications: ISO 45001:2018 for Occupational Health &…
NGX’s Boss Backs FCMB’s N110.9bn Capital Raise
Temi Popoola, Group CEO of the Nigerian Exchange Group (NGX), has commended FCMB Group for its successful capital raise of…
Union Bank Graduates Management Trainees
Union Bank of Nigeria has celebrated the graduation of its 2024 management trainees at a ceremony held at The Stable,…
Dangote refinery insists crude supply woes persist, blames NUPRC
Dangote Refinery, Africa’s largest oil refinery, has reiterated its struggle to secure sufficient crude oil supplies, despite Nigerian National Petroleum…
Naira gains further at official market
The naira strengthened against the dollar at both official and foreign exchange markets following the Central Bank of Nigeria’s (CBN)…
Cooking gas at N1,250/kg stokes hunger in Nigerian homes
Nigerians are grappling with a severe economic strain as the price of Liquefied Petroleum Gas (LPG), commonly known as cooking…
Top mineral resources by African country – EIU
In recent years, the Gulf Cooperation Council (GCC) has increasingly turned its attention to Africa, recognizing the continent’s vast potential…
New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign investment divestments and…
Futures waver on anxiety ahead of jobs data
U.S. stock index futures showed mixed results on Thursday as investors awaited a key jobs report that could offer insights…
Siemens profit beats market view on software but outlook remains guarded
Siemens reported better-than-expected quarterly earnings on Thursday, driven by strong demand for electricity infrastructure and production software. The company achieved…
Who is Tan Su Shan, Singapore bank DBS’s incoming CEO?
Tan Su Shan will take over as CEO of DBS Group from March, succeeding Piyush Gupta, who has led the…
US tops China as Germany’s biggest trading partner
In the first half of 2024, the United States became Germany’s largest trading partner, surpassing China. Trade between Germany and…
Net FX flows increase by 55% to $25.4 billion in six months – CBN
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase compared…
Five-day internet disruption frustrates work from home
On August 1, 2024, Nigerians faced significant network downtime, which impacted internet speed and accessibility. Many people struggled with slow…
Senate probes $1.5bn spent on rehabilitation of Port Harcourt refinery in 2021
The Nigerian Senate has raised concerns about the $1.5 billion allocated in 2021 for the maintenance of the Port Harcourt…
Naira strengthens to 1596 as CBN sells most dollars under Cardoso
On August 7, 2024, the naira gained slightly in official trading due to a $876.26 million sale by the Central…
Don’t register police insurance company — Kyari, former NAICOM CEO
Mohammed Kari, a former Commissioner for Insurance, has opposed the licensing of Nigeria Police Force (NPF) Insurance Company Limited by…
Why CBN Injected N700bn Bailout In Unity Bank-Providus Bank Merger
The Central Bank of Nigeria (CBN) has approved a N700 billion financial package to support the merger between Unity Bank…
Axxela, NNPC Gas Company Commission 5km Gas Pipeline
Axxela Limited, in collaboration with NNPC Gas Marketing Limited (NGML), has commissioned a 5km natural gas pipeline network in Victoria…
CBN eases FX pressure, sells $876.26m to end-users at N1,495/$
The Central Bank of Nigeria (CBN) has sold $876.26 million at a rate of N1,495 per dollar through a Retail…
MeCure reports 38% rise in revenues as cost mute profit growth
MeCure Industries PLC announced its financial results for the second quarter of 2024, revealing a slight increase in pre-tax profit…
IHS Towers, MTN renew lease
IHS Towers and MTN Nigeria have renewed their tower lease agreements for another eight years. The new deal extends all…
Investors Rethink Japanese Multinationals Amid Yen Strength
The strengthening yen is prompting investors to reassess the prospects of Japanese multinational companies, which had previously benefited from a…