Business

Zenith Bank, Access Holdings, GTCO, UBA and eight other banks listed on the floor of the Nigerian Exchange raked in a whopping N72.723 billion from account maintenance charges in the first half of 2023. According to data extracted from the half-year financial statements of these banks, the amount represented a 7.44 per cent increase compared to the N67.690 billion recorded …

For this week’s stocks to watch, MTN Nigeria Airtel and Ellah Lakes should be on your list, as the Nigerian exchange return for another week of trading activities. Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken …

The Lagos State Internal Revenue Service (LIRS) has closed down Excellent Hotel in Ogba, Lagos and 33 other companies operating in the state for failing to remit Personal Income Taxes of their employees and for non-remittance of Consumption Taxes by operators in the hospitality sector to the Lagos State Government. Some of these companies include NTS Nigeria Ltd., Med-In Hospital …

The value of investments in the Nigerian capital market rose by 0.24 percent at close of trading on Friday. This represented a N85.7 billion growth in the market capitalization from N35.79 trillion to N35.88 trillion at the close of business today. The All-Share Index rose by 157.09 basis points to close at 65,558.91, up from 65,401.82 posted by the bourse …

The Nigeria Bureau of Statistics (NBS) on Friday revealed that the country’s Gross Domestic Product (GDP) slowed to 2.51 per cent in the second quarter of 2023. This growth rate is lower than the 3.54 per cent recorded in the second quarter of 2022 More to come… Join the conversation Opinions Support Ripples Nigeria, hold up solutions journalism Balanced, fearless …

Access Holdings has reported that its group gross earnings for the first half of 2023 rose by 58.89 per cent to N940.31 billion, compared to the N591.80 billion turnover generated in the same period in 2022. This was disclosed in Access Holdings’ consolidated and separate interim financial statements for the period ended June 30, 2023, obtained on Sunday. READ ALSO: …

The Central Bank of Nigeria (CBN) has rubbished a report by JP Morgan on the status of Nigeria’s foreign reserves which sparked concerns over forex liquidity in the country. Ripples Nigeria reported on Wednesday that JP Morgan reported Nigeria’s foreign reserves stood at $3.7 billion as of December 2022 and not $35.08 billion as disclosed by the CBN. Following the …

The Poultry Association of Nigeria (PAN) has called on the federal government to retain import restrictions on poultry products, saying lifting of restrictions may lead to the collapse of the industry in Nigeria. The Central Bank of Nigeria (CBN) pronounced removal of restriction on FOREX allocation for Poultry products and other items. PAN in a press release signed by National …

The Nigerian Electricity Regulatory Commission (NERC) has raised the alarm, saying unless customers update their pr-paid meters, they will not be able to recharge with their cards from next year. The Nigerian Electricity Regulatory Commission (NERC) that advised Electricity Distribution Companies (DisCos) to assist customers update their meters. In a message on its Twitter/X handle the Commission explained the process …

The naira exchanged at N771.69 for a dollar at the Investors and Exporters window on Thursday. The Nigerian currency rebounded by 0.22 percent compared to the N773.42 it traded for the dollar on Wednesday. The open indicative rate closed at N777.82 to the dollar on Thursday. READ ALSO: Naira depreciates, closes N773/$ at I&E window A spot exchange rate of …