Flour Mills, Honeywell’s Market Capitalisation Jumps By 34%
Two of Nigeria’s largest flour milling companies, Flour Mills of Nigeria Plc and Honeywell Flour Mills Plc, have recorded a…
Category: Market
Fuel Worth N12.87bn Lost In Seven Months, Says NNPC
Petroleum products valued at N12.87bn were lost in seven months as oil theft and pipeline vandalism continued to plague the…
CBN Bars BVN Violators From Opening Bank Accounts
The Apex Bank in Nigeria, Central Bank of Nigeria (CBN) has barred BVN Violators from from opening a new bank…
Dow Futures Plunge 400 Points Amid Fears Of New Covid Variant Found In South Africa
U.S. stock futures dropped in overnight trading on Thursday as investors geared up for a shortened trading day amid renewed…
Shares Of Chinese Real Estate Developer Kaisa Pop 20% After Debt Restructuring Plan
Chinese real estate developer Kaisa announced Thursday plans for paying back investors, temporarily alleviating concerns about a default as China’s…
FG Suspends Aiteo’s Operation Over Oil Spill In Bayelsa
The federal government has directed Aiteo Eastern Exploration and Production Company (AEEPCO) to stop operation in affected oilfield spewing oil…
No Court Order Restraining Acquisition, Say Flour Mills, Honeywell
Flour Mills Nigeria Plc and Honeywell Flour Mills Plc have said the proposed acquisition of significant interest in HFMP by…
Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W’Bank
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage,…
CBN Disburses N41.2bn To Cut Wheat Imports
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the bank has disbursed N41.2bn under its intervention…
SEC Approves MTN Offer For Sale Of 575 Million Shares
MTN Nigeria Communications Plc has obtained the approval of the Securities and Exchange Commission for the offer for sale of…
US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices
The US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring…
Stock Trading Volume Drops, Market Cap Stalls At N22.58tn
The market capitalisation of stocks listed on the Nigerian Exchange Limited remained unchanged at the end of trading on Tuesday…
Asia Stocks Fall, Dollar Firm On U.S. Rate Hike Bets After Powell’s Renomination
Asia stocks faltered on Tuesday, tracking a retreat on Wall Street as traders bolstered their bets on U.S. rate hikes…
Zoom Shares Fall After Results As Wall Street Turns Cautious On Growth
Zoom Video Communications Inc’s third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the…
Dismantle Trade Barriers To Grow Africa’s Economy, Dangote Urges Leaders
African leaders have been urged to dismantle trade barriers stifling their individual countries, in a bid to ensure smooth flow…
Capital Inflow Crashes By 80%, Foreign Investors Shun Nigerian Market
Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria reports have…
Naira Loses Steam, Sides To 555/Dollar In Parallel Market
The naira lost steam at the parallel market on Monday, sliding to 555 per dollar. The local currency had crashed…
Powell Tapped For Second Term As Fed Chair
Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a…
FMN, Honeywell Flour Mills Merge Under N80billion Shares Transfer Deal
Flour Mills of Nigeria Plc (FMN) and Honeywell Group Limited On Monday announced that they have signed an agreement for…
Illiquidity: BMBs, Merchant Banks Borrow N215.7bn From CBN In One Week
Following scarcity of liquidity in the interbank money market, banks and merchant banks borrowed N215.7billion from Central Bank of Nigeria…
Forex Row Threatens Fuel Supply, Price Stability
The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set…
OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
KKR Buyout Offer Sends Telecom Italia Shares Surging 27%
Telecom Italia shares jumped more than 27% on Monday morning after U.S. private equity giant KKR launched a 10.8 billion…
Naira Falls By 2.8% To N545/$1 At Parallel Market
The naira, on Friday, depreciated against the dollar at the parallel section of the foreign exchange market. Bureaux De Change…
Trade Deficit Declined To $340m In July – CBN
Nigeria’s trade deficit declined to $340m in July from $2.4bn in June, figures obtained from the Central Bank of Nigeria…
Analysts See Nigeria’s Inflation Rate Rising In Nov, Dec
Amid the steady decline in headline inflation rates over the past few months, analysts have predicted an uptrend for the…
Drug Dealer Behind Cocaine Hidden In Lagos Airport Toilet Arrested – NDLEA
The National Drug Law Enforcement Agency (NDLEA) says it has arrested a Brazil based drug dealer, Okafor Moses in connection…
Remittances To Nigeria, Others Grow 7.3% To $589b
Remittances to low- and middle-income countries are projected to have grown a strong 7.3 per cent to reach $589 billion…
Seven Banks Rake In N403.6bn From Fees, Commissions
Seven deposit money banks in Nigeria generated the sum of N403.6bn in nine months from fees and commissions, 24.7 per cent…
The Apple Car Is Coming And Tesla Had Better Watch Out
Apple Inc. venturing into cars might shake up the electric vehicles market in the same way the iPhone revolutionized the…