Business

The Federal Government is targeting at least N450 billion through its latest bond offering for June 2024. The Debt Management Office (DMO) disclosed this in a statement on Thursday in Abuja. The agency has announced a new date for the auction. The bond offering will be conducted via auction and consist of three different reopenings, each with different maturity dates …

Investors in the Nigerian equity market made N1 billion at the end of trading on Thursday. This follows the increase in share prices, including CHAMPION, VERITASKAP, and ROYALEX on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization rose to N56.479 trillion from N56.478 trillion recorded by the exchange on Wednesday. The All-Share …

Amid the ongoing trial with the Nigerian government, cryptocurrency exchange platform Binance Holdings Limited has been fined 188.2 million rupees ($2.25 million) by India’s Financial Intelligence Unit (FIU) for non-compliance with local anti-money . money laundering (AML) regulations. A document entitled ‘Original Order No. 10/DIR/FIU-IND/2024 regarding Binance u/s Section 13 dated 19.06.2024’ by the Indian Financial Intelligence Unit (FIU), stating …

The equity market restarted from the Eid al-Fitr holiday with investors losing N47 billion by the end of the trading session on Wednesday. This follows the fall in share prices, including CAVERTON, ABC TRANSPORT, and NB on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization fell to N56.4 trillion from N56.5 trillion …

French integrated multinational energy and petroleum company, TotalEnergies will invest $550 million to develop gas processing facilities in Rivers State to increase exports and domestic supply. A source at the Nigerian National Petroleum Corporation NNPC Limited (NNPCL) told Reuters on Wednesday. He said the investment would include gas processing plants and pipelines. The source added that the announcement of the …

Guaranty Trust Bank now (GTCO) has dragged 60 top executives of 13 commercial banks to court over N17 billion Anchor Borrowers Program (ABP) debt. The people affected include the chairman, CEO, directors and company secretaries of the 13 banks. They are facing contempt proceedings for allegedly failing to implement a No Debit Order reportedly placed on Afex Commodity Exchange accounts …

Zenith Bank, United Bank for Africa (UBA), AccessCorp and Total Plc top the list of stocks to watch when markets open after Eid on Wednesday. This follows their impressive performance last week with the Nigerian stock market closing the week on a positive note, recording three gains in four trading sessions. During the period, investors earned N398.4 billion as market …

By: Babajide Okeowo The rising debt profile of Nigeria and other African countries has forced the African Development Bank (AfDB) to launch the African Debt Managers Initiative Network (ADMIN) to spur domestic solutions to the continent’s debt challenges. The inaugural and first peer learning event recently took place in Addis Ababa with the theme: Developing and Deepening Domestic Debt Markets …

Lagos, Nigeria’s economic center, is divided into two distinct regions: Lagos Island and Lagos Mainland. Each region offers unique qualities, economic opportunities, amenities and investment prospects, which shape the city’s lifestyle and real estate landscape. While Lagos Island is known for its upscale neighborhoods, commercial hubs and cosmopolitan appeal, Lagos Mainland provides a more diverse and affordable environment with a …

The Global Tracking Maritime Solutions Management at the Freeport of Monrovia defends its operations before the Senate. By Lewis S. Teh Monrovia, Liberia, June 14, 2024 – Following the Liberian Senate’s recent decision to summon the management of the Global Tracking Maritime Solutions, the Liberia Revenue Authority, Public Procurement and Concession Commission, Ministry of Finance and Development Planning, and the …