Oil Rises On Prospects Of Less Aggressive U.S. Rate Hike
Oil prices rose amid prospects of a less aggressive U.S. rate hike; although worries about a recovery in demand capped…
Category: Local
TomTom’s Quarterly Loss Widens As Inflation, Supply Chain Issues Weigh.
Dutch navigation and digital mapping company TomTom (TOM2.AS) reported worse-than-expected loss for the second quarter, citing high inflation and strained…
S&P 500, Dow Close Lower After Bank Earnings, Inflation Data.
The S&P 500 (.SPX) pared early losses to close modestly lower, after investors digested disappointing quarterly results from two large…
Lagos To Launch New Electronic ID Card for Residents
Lagos State Government is set to roll out smart i.d cards for residents of the State through the LSRRA The…
Fidson Plans N1 Billion Dividend Bonus Shares For Shareholders
Fidson Healthcare sets to pay shareholders over N1 billion in dividends and also issue them one new share for every…
Telecom Giant MTN, BOI Offers Training And Grants Worth N2 Million To Female Entrepreneurs
Nigeria’s Bank of Industry and telecoms company, MTN, have announced a business initiative that will train female entrepreneurs and provide them…
CBN To Introduce USSD Code To Improve E-Naira
The Central Bank of Nigeria says it is set to introduce the USSD code as part of steps to improve the…
41 Million Get NINs To Escape SIM Ban.
Over 41.59 million Nigerians have obtained their National Identification Numbers; since the Federal Government first banned the sales of SIM…
Neimeth Moves To Float N3.67bn Rights Issue
Neimeth International Pharmaceuticals Plc held a completion board meeting in Lagos; to float a rights issue of N3.67bn through the…
Why 100 Basis Point Interest Rate Hike Spells Doom For Bitcoin And Crypto Market.
The Federal Reserve is to raise interest rates by 100 basis points. Which would be the biggest rise since it…
NNPC Blocks Exxon Mobil’s Asset Sale To Seplat-Nigeria.
THE Nigerian National Petroleum Company Limited has won a court decision temporarily blocking Exxon Mobil Corporation; from selling assets in…
Anambra Traders Lament New Tax Regime.
TRADERS at various markets in Anambra State, particularly Eke Awka market in Awka South Local Government Area; are lamenting the…
Bear Curve Flattening Underway, Public Debt Rises In Q1 2022 And Corporate Tax Collections Accelerate To 7-Year Highs.
Mixed trends along the curve as short-term rates rise while long-dated bonds recline; The divergent trends along the Naira yield curve…
Naira Falls To N620/$1 At Peer-To-Peer Market As FX Scarcity Persists.
The exchange rate between the naira and the US dollar closed at N424.58/$1 at the Investors. And Exporters (I&E) window,…
Directors Of 10 Banks Pocket N6.96bn Allowance, Compensation
Directors of 10 banks collected N6.96bn sitting allowance and compensation in 2021; according to an analysis of the lenders’ financial…
Nigeria Crude Oil Production Increases To 1.238 Million Barrels Per Day In June
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production; increased to an average of 1.238 million…
Microfinance Bank Launches Digital Banking Platform.
One of the fastest growing financial institutions in Nigeria , PatrickGold Micro Finance Bank; has launched a digital banking platform,…
Oil Falls Below $100, Nigeria’s Production Hit 1.158mb/d
Brent, the international benchmark for crude; fell below $100 per barrel as the latest figures released by the Organisation of…
Euro At Parity And Talks Of A 100 Bps U.S. Rate Hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face…
Court Grants N10 Million Bail To Forex Trader Charged With N20 Million Exchange Fraud.
Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court has granted bail in the sum of N10 million to one…
Building Collapses In Lagos Nigeria.
A building collapsed in the early hours of Wednesday, July 2022 in Onipanu area of Lagos State. The affected building…
Forex Flow To Nigeria Rise By $10.75bn.
Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of Nigeria have revealed.…
Danske Cuts Profit Outlook Due To Challenging Financial Market Conditions.
Danske Bank (DANSKE.CO) reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions.…
Oil Companies Oppose FG- Nigeria.
Oil and gas companies have committed to gas flare reduction in Nigeria. Some of them opposed the enforcement of penalties…
Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning infrastructure gap. But…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded…
Naira Falls At I&E Window Despite Massive Improvement In Dollar Supply
The exchange rate between the naira and the US dollar closed at N428.16/$1: which at the Investors and Exporters (I&E)…
Concerns As 121 Firms Delisted From Nigeria’s Stock Exchange In 20 Years
According to data got from the Exchange; they has delisted 121 quoted companies from the official list of Nigerian Exchange…
FG Approves N22.45bn For Petroleum, Environment Ministries- Nigeria.
The Federal Government, approved of N22.45bn for projects in the Ministries of Petroleum Resources and Environment. The Minister of Environment,…
Senate Vows To Support AMCON’s Debt Recovery Drive
The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani; has reiterated the willingness of the…