Business

The Government of Liberia is optimistic about moving national growth to 5.8% by next year. Monrovia, Liberia, July 19, 2024 –The Ministry of Finance and Development Planning is projecting Liberia’s economic growth to accelerate from 5.2% in 2024 to 5.8% in 2025. Acting Minister of Finance and Development Planning, Anthony G. Myers, provides a mid-year update on Liberia’s economy, forecasting …

The Central Bank of Nigeria (CBN) has issued new directives to banks and financial institutions operating in Nigeria on dormant accounts. Under the new directive, the central bank will take over funds in these dormant accounts and invest them in treasury bills and other securities. This is contained in a circular FPR|DIR|PUB|CIR|002|011 issued on Friday by John S. Onojah, Acting …

Nigeria’s equity market recovered from earlier losses on Thursday with investors gaining N262 billion at the close of trade. This follows the increase in share prices such as UCAP, OANDO, and AFRIPRUD among others on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N56.9 trillion from N56.6 trillion posted by the …

The Nigerian Exchange Limited (NGX) has delisted shares of Niger Insurance Plc and two other companies from its platform for failing to comply with standards. Other companies affected are – Resort Savings and Loans Plc, and RAK Unity Petroleum Plc. NGX Head of Issuer Regulation, Godstime Iwenekhai, confirmed the development in a statement on Thursday. The companies, according to NGX, …

Dangote Industries Limited (DIL) management has refused to back down over claims that International Oil Companies (IOCs) thwarted its efforts to purchase crude oil feedstock for the Dangote refinery. The operator of the 650,000 barrel-per-day refinery insists the IOC is thwarting its efforts to buy crude because prices are too high. The company was reacting to claims by the Nigerian …

Investors in the Nigerian equity market lost N24 billion at the close of trading on Wednesday. This follows the decline in share prices of RT BRISCOE, FTN COCOA, and TANTALIZER, among others, on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.64 trillion from N56.67 trillion posted by the exchange on …

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The International Monetary Fund (IMF) has revised down its projection for Nigeria’s economic growth by 0.2 percentage points amid weaker-than-expected activity in the first quarter of this year. Nigeria’s growth forecast was revised down by 0.2 from the previous projection in April. This in turn led to a downward revision of economic growth in sub-Saharan Africa. The IMF announced these …

Investors in the Nigerian capital market made a profit of N62 billion at the close of trading on Tuesday. This follows the increase in stock prices such as UCAP, CUTIX and SUNU ASSURANCE among others on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N56.67 trillion from N56.60 trillion posted by …

The Financial Reporting Council (FRC) and the Ministry of Finance (MOFI) identify how President Bola Tinubu can achieve his $1 trillion economic projection. They identified corporate governance in public and private institutions as a catalyst for achieving this goal. Therefore, the FRC and MOFI launched a draft corporate governance code for the public sector that provides rules on how board …