Business

Investors in the Nigerian capital market gained N140 billion at the close of trading on Friday. This follows a surge in the prices of shares such as Fidson, Meyer and Caverton among others on the trading floor. After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion from N56.3 trillion recorded by the bourse on …

Former Chairman of the Nigeria Economic Summit Group (NESG), Kyari Bukar, on Friday lamented that the inefficiency and bureaucracy of the Nigeria Customs Service and other agencies such as the Nigerian Ports Authority (NPA) were costing Nigeria trade volumes to the ports of neighboring Benin Republic. He noted that a large volume of international shipments now enter Nigeria through ports …

The Central Bank of Nigeria (CBN) has denied it will reintroduce a controversial cybersecurity levy that was previously suspended. The denial was contained in a statement entitled “Clarification Regarding the Guidelines for Monetary Policy, Credit, Foreign Trade, and Foreign Exchange for the 2024-2025 Fiscal Year (Monetary Policy Circular No. 45) released by Bank Indonesia on Friday, September 20, 2024. On …

Finance Minister and Coordinating Minister for Economic Affairs, Wale Edun, said on Thursday that Nigeria’s foreign exchange reserves recorded a net inflow of $2.35 billion each month in the first seven months of this year. Cumulatively, the amount reached $16.45 billion in seven months. The minister disclosed this at an Access Bank Plc corporate forum in Lagos. He said the …

Liberia’s premier GSM Company, Lonestar Cell MTN, launches the 4th Edition of MTN Y’ello Star musical competition, a talent-hunt exercise.   Monrovia, Liberia, September 19, 2024—Liberia’s leading mobile GSM company, Lonestar Cell MTN, launches the 4th edition of the MTN Y’ello Star musical competition here. This annual event has become a platform for discovering and showcasing the best musical talents across Liberia.  …

Investors in the Nigerian equity market experienced sluggish trading on Thursday, recording a loss of N130 billion at the close of trading for the day. This follows the decline in share prices of shares such as HONYFLOUR (Honeywell Flour Mill), FBNH (First Bank of Nigeria Holdings), and UPDC Plc (formerly UACN Property Development Company) among others on the trading floor. …

PZ Cussons Nigeria Plc (PZCN) was left in the dark after PZ Cussons Plc, its parent company, announced plans to sell its African subsidiary. PZ Cussons said in its financial report for the year ending May 31, 2024, released on Wednesday, that it plans to sell some or all of PCZN and other African subsidiaries. This, the personal healthcare product …

In a bid to bridge the 2024 budget deficit, the federal government is targeting N150 billion from the bond market by September 2024. The auction by the Debt Management Office (DMO) is scheduled for September 23, 2024 and will be settled on September 25, 2024 and is one of the smallest bond offerings in 2024 as it is about 21% …

Investors in the Nigerian equity market went home with N444 billion at the close of trading on Wednesday. This follows the growth in stock prices of stocks such as SFSREIT (Skye Shelter Fund), HONEY FLOUR (Honeywell Flour Mill), and MEYER (Meyer Plc) among others on the trading floor. After five hours of trading in the capital market, equity capitalization increased …

Nigeria’s equity market returned from the Eid-el-Mauldah holiday on Tuesday with a gain of N131 billion for investors. This follows a surge in the prices of shares such as FLOUR MILL, FBNH (First Bank of Nigerians Holdings), and VITAFOAM among others on the trading floor. After five hours of trading in the capital market, equity capitalization increased to N56.1 trillion …