The U.S. May Already Be in a Recession
Let’s just say it: The longest economic expansion in U.S. history may already be over, killed by Covid-19. It might seem crazy to talk about a recession when jobs are…
Traders Dust Off Old Disaster Hedge With Virus Fear Escalating
When markets are in turmoil, traders turn to their favourite hedges. They’re going for a classic form of protection against recession — buying short-dated German bonds versus interest-rate swaps —…
US markets in sharp drop amid rollercoaster over coronavirus
US stock markets closed sharply lower again on Thursday as fears about fallout from the virus outbreak sent more shudders through the financial world. The Dow Jones sank 968 points,…
Nigeria Senate Approves President’s $23 Billion Loan Request
Nigeria’s Senate approved President Muhammadu Buhari’s plan to borrow $22.7 billion from external creditors to finance infrastructure projects. Lawmakers gave their endorsement to the government during Thursday’s proceedings in the…
Unity Bank seeks more investment in creative industry
Unity Bank Plc has advocated more investments in the creative industry to drive its contribution to the Nigerian economy. Its Head, Personal SME, Mr. Opeyemi Ojesina, made the call in…
No more reward for bogus investors – Ahmed, Finance Minister
For bogus investors, the honeymoon is over! It is not going to be business as usual in Nigeria as the Minister of Finance, Budget & National Planning, Dr. (Mrs.) Zainab…
Sanwo-Olu lauds Afriland’s Investment in Infrastructure
LAGOS State Governor, Babajde Sanwo-Olu has praised Afriland Properties Plc for the renovation and inauguration of the world-class eight-floor office complex – Afriland Towers in Lagos. The ceremony marked the…
Investment Alert: The FGN Savings Bond is now open for subscription
The Federal Government of Nigeria, through the Debt Management Office (DMO), yesterday announced the opening of the March Savings Bond Offers. According to a circular that was published on the…
Total Is Said to Bid for Stake in $7.4 Billion U.K. Wind Farm
French oil company Total SA is among the final bidders for a stake in an offshore wind farm that may cost more than $7 billion to develop and operate, according…
Citadel, BlackRock, and D1 Capital are racking up hundreds of millions in gains as coronavirus fears tank airlines, cruises, and movie-theater stocks
What might end up being the worst week for stocks in over a decade hurt a little less for some asset managers. BlackRock, Citadel, D1 Capital, and Adelphi Capital were…
Warren Buffett discussed Apple, bitcoin, coronavirus, and Bernie Sanders in an interview this week.
Warren Buffett is renowned for making witty and insightful comments that many investors turn to for guidance. The 89-year-old investor and Berkshire Hathaway CEO offered several gems about Apple, bitcoin,…
FG facilitates $20m tech fund, N90bn agripreneur loan
To further drive its support for micro, small and medium enterprises (MSMEs), the federal government has facilitated a $20 million technology fund for young innovators through Bank of Industry (BoI),…
Dangote Fertiliser starts pre-testing of $2bn plant before inauguration
Dangote Fertiliser Limited has started the pre-testing of its $2 billion Granulated Urea Fertiliser plant located in the Dangote Free Zone, Lagos. In a statement obtained by Vanguard, the company…
Twitter founder, Jack Dorsey donates N2.3 million to Nigerian startup, DevCareer
Twitter founder, Jack Dorsey, has donated £5,000 ($6,437) in Nigeria’s nonprofit software startup, DevCareer. The fund from Dorsey, who was in Nigeria last year, formed part of the £16,800 ($20,599)…
FG plans more incentives to boost capital market
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has promised that the federal government would introduce more tax incentives to boost investment in the Nigerian capital market. She…
Foreign Portfolio Investors inject $1.7bn into I&E window
FOREIGN Portfolio Investors (FPIs) injected $1.7 billion into the Investors and Exporters (I&E) window in January 2020 raising hope of sufficient dollar inflow and stability in the foreign exchange market.…
Dangote invests N63bn in Enugu-based automaker, buys 3,500 trucks
Dangote Group has entered into a long-term agreement with an Enugu-based automaker, Transit Support Services Limited, for the supply of Shacman trucks being assembled at the Anambra Motor Manufacturing Company…
‘Infrastructure development in Lagos will boost diaspora investment’
Governor Babajide Sanwo-Olu has said the ongoing infrastructural development programme of the Lagos State Government, is a deliberate effort to make the State attractive to Diaspora investment. Sanwo-Olu said there…
How underwriters’ earnings renew investors’ hopes
Determined to increase the shareholders’ confidence in the nation’s insurance industry, the 2019 underwriting performance of the sector operators, particularly Profit Before Tax (PBT) are taking upswing. The insurance industry,…
Aella Credit raises $10 million debt financing round from Singapore
Aella Credit said it has secured a $10 million debt financing round from Singaporean company – HQ Financial Group. This information is contained in a press statement that was released…
How N7.5 billion GPW will boost policy holders’ confidence
As insurers express commitment to the ongoing industry recapitalisation exercise, they have explained that a process is a form of a corporate reorganisation, which involves making substantial changes to a…
Investors still wary despite Finance Act’s facelift
Until the numbers begin to fall in place and infrastructure investments that are needed to facilitate businesses are clearly seen, the fiscal turnaround contained in the Finance Act 2020 would…
Tony Elumelu Foundation disburses first tranche of $5million partnership commitment from African Development Bank
Tony O. Elumelu, CON, has congratulated the African Development Bank (AfDB), and its President, Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of $2.5 million seed capital…
Recapitalisation: Insurance stocks dormant despite deadline extension
THE shift in the deadline for insurance firms to beef up their capital in compliance with the new minimum capital requirement of the National Insurance Commission, NAICOM, has worsened the…
Finance Act will boost securities lending, REITs investment on capital market — Onyema
The Nigerian Stock Exchange (NSE) says securities lending will witness exponential growth with the elimination of tax on manufactured dividend arising from securities loan transaction by the Finance Act. Mr…
How Nigeria gained $1 billion investments in Auto industry within a year
Nigeria’s automobile industry received a boost with over $1billion investments from renowned auto manufacturers in 2019, thereby lifting capacity to at least 408,870 vehicles yearly. The manufacturers, which include Honda,…
AfDB approves $22 million loan to boost SMEs operations
The board of the African Development Bank (AfDB) has approved the sum of $22 million as loan to help support SMEs across agribusiness and food industries, tourism, Information Communication Technology…
FG offers $1.1billion Agric mechanisation scheme
No less than 100,000 youths are to benefit directly from the Federal Government’s $1.1bn agriculture mechanisation scheme known as the Green Imperative Programme. This was disclosed by the Minister of…
NSE Employees Donate Funds To Support WARIF Foundation
As part of its Employee Give-Back initiative, employees of The Nigerian Stock Exchange (“NSE” or “Exchange”) have donated funds to support the initiatives of the Women at Risk International Foundation…