Business

The Securities and Exchange Commission (SEC) has identified regulatory uncertainty, security concerns, and financial literacy as serious threats to the use of cryptocurrencies in the country. This was disclosed by the Director-General of the institution, Emomotimi Agama, at the 2024 Annual Conference of the Association of Capital Market Academics of Nigeria (ACMAN) on Thursday in Abuja. He said the Nigerian …

The Nigerian equity market maintained its positive performance with investors making a profit of N374 billion at the close of trading on Friday. This follows the growth in share prices of UCAP, LASACO, and CWG, among others, on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization rose to N56.6 trillion from N56.2 …

In an effort to deepen the foreign exchange market, increase liquidity and achieve convergence in exchange rates, the Central Bank of Nigeria (CBN) has given the green light to Money Deposit Banks (DMB) to deposit their excess foreign currency notes in its branches in Lagos and Abuja . This approval follows increasing demand for DMBs to deposit their foreign exchange …

The National Bureau of Statistics (NBS) said on Friday that the average cost of a healthy diet per day in the country stood at N1,041 in May. The NBS disclosed this in its Cost of a Healthy Diet (CoHD) report last month released in Abuja. The bureau said CoHD in May increased by one per cent compared to N1,035 recorded …

MRS Nigeria Limited shareholders have approved the voluntary delisting of the company’s shares from the Nigerian Exchange Limited (NGX). Following the delisting, the company whose market capitalization currently stands at N46.3 billion withdrew its shares from the equity market. MRS Oil disclosed this in a recent notice to NGX and the investment community and signed by its Corporate Secretary, Mrs …

PricewaterhouseCoopers (PwC), a multinational consulting firm, says various reforms initiated by President Bola Tinubu’s government have hurt businesses and households due to shocks such as inflation, naira devaluation and rising interest rates. The company stated this in its recently released Economic Outlook for June 2024. However, they project the economy will grow by 2.9% this year. President Tinubu has initiated …

Last week’s protest by aggrieved workers of the Salala Rubber Corporation turns violence here, with arson attack and looting of company’s assets. By Ramsey N. Singbeh, Jr. in Margibi Margibi County, Friday, June 28, 2024- Protesting workers, mainly tappers of the Salala Rubber Corporation or SRC, have resulted to violence against the company, characterized by an arson attack and looting …

The latest Treasury Bill (TBI) auction held on Wednesday raised N284.26 billion from the Federal Government from investors hungry for returns. The Debt Management Office (DMO) announced the auction results on Thursday. The auction attracted significant investor interest with total subscription of N773.98 billion exceeding the total bid of N228.72 billion. As an instrument for implementing monetary policy, the Central …

For the second straight day, the Nigerian equity market maintained its positive movement as investors made profits of N6.2 billion at the close of trading on Thursday. This follows the growth in share prices of SEPLAT, CUTIX, and LASACO among others on the trading floor today. After five hours of trading on the capital market, equity capitalization rose to N56.2 …

The Nigerian equity market recovered from its negative move with investors earning N94 billion at the close of trading on Wednesday. This follows the growth in share prices of FTN COCOA, OANDO, CWG, and others on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization increased to N56.2 trillion from N56.1 trillion recorded …