Business

The Nigerian Communications Commission (NCC) on Monday ordered MTN Nigeria and other mobile telecommunications companies to reactivate blocked Subscriber Identification Modules (SIMs) based on the National Identification Number (NIN). MTN has in recent days blocked over 100,000 lines because their owners failed to link them to NIN. Details later… NCC orders MTN, others to reactivate blocked SIMs first appeared on …

As July draws to a close, investors had a tough week last week in the equity markets. Nigerian equity markets lost in four of the five trading sessions as the benchmark All Share Index (ASI) plunged -2.33% to close at 98,201.49 from 100,539.40 points in the previous week. Similarly, investors lost N1.32 trillion as market capitalization fell to N55.61 trillion …

The International Bank Liberia Limited is regarded as one of the top-performing banks in the Liberian economy. News of it being put up for sale amid a huge loan portfolio questions the management of the bank. Monrovia, July 29, 2024 -Despite its booming transactional activities, the situation at the International Bank Liberia Limited (IBLL), formerly known as International Trust Company …

The Central Bank of Nigeria (CBN) has launched plans to create a special office to manage dormant accounts and unclaimed balances. This is stated in a recently published document, “FAQ – Guidelines on Dormant Accounts and Unclaimed Balances – issued by the central bank. It is worth recalling that the CBN had earlier disclosed that it could invest funds from …

The Nigerian National Petroleum Company Limited (NNPCL) has blamed the recent crisis in fuel supply and distribution across the country on problems associated with the unloading of some vessels at seaports. NNPCL Head of Corporate Communications, Olufemi Soneye, disclosed this in a statement on Saturday in Abuja. He was reacting to the recent queues seen in some parts of Lagos …

Oando Plc has categorically denied claims circulating on social and digital media platforms that it has a blending plant in Malta. The energy conglomerate also denied allegations that it imported substandard fuel into Nigeria through a Maltese company called Raz Hansir Oil Terminal Limited. In a statement issued by the company secretary, Ayotola Jagun, Oando categorically denied the allegations, stating …

Investors in the Nigerian equity market enjoyed a poor trading week on the NGX floor after suffering a loss of N1.32 trillion in the just-ended trading week. The stock exchange posted losses on four of the five trading days and rose on only one trading day as the market suffered its second-worst loss of 2024 yesterday. Market capitalization fell by …

The Central Bank of Nigeria (CBN) has intervened in the foreign exchange market, injecting $148 million into the system. The move comes amid increasing pressure on the naira, which has been steadily depreciating in recent times. The central bank in a statement released on Friday disclosed that the funds were disbursed to 29 authorized dealers on Monday, July 22 and …

Have you ever thought about buying a house or apartment that has not been built yet? This is called buying an “off-plan” property. In Nigeria, more and more people are choosing this option when they want to own a home. Let’s discuss the 10 major advantages of buying an off-plan property in Nigeria. 1. Lower Prices One of the best …

Investors in the Nigerian equity market lost N1.1 trillion at the close of trading on Friday. This follows the decline in stock prices of stocks such as ETERNA, DANGOTE CEMENT, and DAAR COMMUNICATION among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N55.6 trillion from N56.7 trillion posted by …