Business

Justice Emeka Nwite of the Federal High Court, Abuja, has set October 11 for judgment in the trial of popular cryptocurrency platform, Binance Holdings Limited, for alleged tax evasion. The Federal Government charged the platform and its two directors with four counts of tax evasion after failing to register with the Federal Inland Revenue Service (FIRS) for tax purposes. The …

The Central Bank of Nigeria (CBN) has sold $122.67 million to 46 authorized Bureau De Change (BDC) dealers in the country. This is in line with the central bank’s determination to promote stability and reduce market volatility in the foreign exchange market. CBN Director in charge of Financial Markets, Dr. Omolara Duke, disclosed this in a statement in Abuja on …

The equity market reversed four consecutive days of losses this week, with investors booking profits of N172 billion at the close of trading on Friday. This follows the growth in share prices of CUTIX, LEARN AFRICA, and CAVERTON, among others, on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion …

The Boakai administration has faced weeks of criticism for allegedly violating public procurement procedures and showing no regard for the Legislature in allegedly entering agreements that could have large financial implications. Monrovia, July 12, 2024: President Joseph Nyuma Boakai has told legislators that the government has made no financial commitment to acquire 285 earth-moving equipment, commonly referred to here as yellow …

Investors in the Nigerian equity market lost N188 billion at the end of trading on Thursday. This follows the fall in the value of shares of IKEJA HOTEL, HONEYWELL FLOUR, and SEPLAT among others on the trading floor today. After five hours of trading in the capital market, equity capitalization declined to N56.2 trillion from N56.4 trillion posted by the …

The National Oil Company of Liberia and Liberia Petroleum Regulatory Authority will co-sponsor the Technical Presentation and Networking Cocktail at the African Energy Week: Invest in African Energy Conference. CAPE TOWN, South Africa, July 11, 2024/ — As frontier exploration continues to drive upstream investment in Africa, Liberia offers extensive offshore territory to interested investors and established exploration and production …

The Nigerian equity market continued its negative trend on Wednesday with investors losing N2.18 billion at the close of trading for the day. This follows a decline in the value of THOMASWY, DAARCOMM and CWG shares among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.456 trillion from N56.459 …

Nigeria’s average daily crude oil production rose to 1.27 million barrels per day (mbpd) in June 2024, the latest data from the Organization of the Petroleum Exporting Countries (OPEC) showed. According to the Monthly Oil Market Report (MOMR) released on Wednesday, July 10, 2024, the oil cartel said the production data was based on direct communication with Nigerian authorities. This …

In the wake of the COVID-19 pandemic, there has been a marked increase in international trade and a greater reliance on digital commodities and e-commerce around the world. The importance of cross-border payments—financial transactions in which the payer and recipient are located in different countries—has been highlighted by this shift. This blog post explores the ins and outs of cross-border …

Nigeria’s equity market continued its negative trend on Tuesday as investors lost N113 billion at the close of trading for the day. This follows the suspension of trading in some shares by the Nigerian Xchange Group (NGX) for failing to file its 2023 audit results. NGX Issuer Regulatory Department Head Godstime Iwenekhai, in a statement on Monday, announced the suspension …