Mutual Funds’ Assets Rise To N1.6tr Stock Market Begins New Trading Week With Upswing
The year 2020 appeared to be the year with the highest growth in the value of mutual fund assets in Nigeria…
Category: Local
Stock Market Gains N16bn After First Weekly Loss
The equity market, on Monday, returned to positive territory as the Nigerian Stock Exchange All-Share Index and market capitalisation rose…
Paternity Scandal: FCMB Adam Nuru Proceeds on Voluntary Leave to Allow Independent Investigation
The embattled Managing Director of First City Monument Bank (FCMB), Mr. Adam Nuru has reportedly volunteered to proceed on leave…
LCCI: Nigeria May Remain In Recession Beyond 2021
Amid the resurgence of COVID-19, the Lagos Chambers of Commerce and Industry (LCCI) has predicted that Nigeria risks a further…
Can Oil Stocks Bounce Back In 2021
There’s no way to sugar coat things; 2020 was an abysmal year for the oil market. Crude oil prices are…
NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
Nigeria’s Duty-Free Export To US Shrinks To $351.73m
Nigeria’s export to the United States under a duty-free policy declined in the first nine months of 2020, recording $351.73m…
Nigerians Now Taking Centre-Stage In Downstream Sector, Says DPR
Director, Department of Petroleum Resources (DPR), Sarki Auwalu, has said Nigerian indigenous oil companies are now taking the centre stage,…
Will Economy Be Better In 2021?
As 2020 draws to a close, many Nigerians look towards 2021 uninspired by the catatonic state of the economy. The…
Economic Crisis: Naira To Fall Further In January, Says CBN Report
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey…
CBN Revokes Licences Of Seven Payment Service Providers
The Central Bank of Nigeria (CBN) has announced the revocation of operating licences of seven payment service providers (PSP), and…
Oil Edges Higher After Brexit Deal, Gains Capped By Pandemic
Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The…
Mobile Payments Operators Request CBN To Reconsider Position On Diaspora Remittances
The Association of Licensed Mobile Payments Operators (ALMPO) has appealed to the Central Bank of Nigeria (CBN) to reconsider its…
Nigeria’s Stock Market Closes For Christmas With N2bn Loss
Trading reverses on NSE, closes for Christmas with N2bn loss Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping…
Dangote Refinery, A Potential Game-Changer, Says Platts
The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Platts…
Naira Gains N10 On Dollar At Black Market, Trades N465/$1
The Naira continued to wax stronger against the United States Dollar as it gained N10 at the black market on…
NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
Nigeria’s Forex Inflow Hits $21bn In Q3
The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion,…
Another New Coronavirus Variant Found In Nigeria, Says Africa CDC
Another new variant of the novel coronavirus seems to have emerged in Nigeria, the head of Africa’s disease control body…
CBN Directs Banks To Close Naira Remittances Ledgers
THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by…
Low Production Pushes Up Cement Price By 35%
The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have…
Oil Climbs As U.S. Inventory Draw, Brexit Deal Hopes Boost Risk Appetite
Oil extended gains on Thursday in light holiday trade as a drop in U.S. stockpiles spurred demand hopes, while hints…
NIN: Telecom Operators Get NIMC Enrolment Licences
Mobile network operators (MNOs) on Wednesday said they have enrollment and verification licences from the Federal Government. The development followed…
NSE Market Capitalisation Hits N20 Trillion On Sustained Rally
The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities, hit a…
Govt – Border Reopening: Poultry, Rice Importation Remain Banned
Osogbo — The Minister of Interior, Mr. Rauf Aregbesola, has said that despite the reopening of borders, the importation of…
Large Crowd Gathers At NIMC Office In Lagos For NIN Registration Amid COVID-19 Second Wave
The Nigerian government had last week issued an ultimatum to all telecommunications operators in the country to block all Subscriber…
Nigeria Is Facing Worst Security Challenge In History – Gombe Gov
Gombe State Governor, Muhammadu Inuwa Yahaya, has declared that Nigeria is facing the worst security challenge in its history. The…
Nigeria’s Parliament Passes $35.66 Bln Budget For 2021
Nigeria’s parliament approved on Monday the government’s 2021 budget of 13.6 trillion naira ($35.66 billion), assuming 3% annual economic growth,…
NDIC Verifies Depositors In 42 Liquidated MFBs For Payment
The Nigeria Deposit Insurance Corporation (NDIC) is in the process of closing 42 Microfinance Banks (MFBs) which operating licenses were…
Foreign Investments In Nigerian Shares Rise By 80.6%
FOREIGN portfolio investments in the Nigerian stock market rose by 80.6 per cent to its highest level in 11 months…