Business

Meaning of FGN Bonds FGN (Federal Government of Nigeria) Bonds are debt securities issued by the Nigerian government to raise funds from the public. These bonds are considered low-risk investments because they are backed by government credit. Investors buy FGN Bonds with the expectation of receiving periodic interest payments (coupons) and the return of the principal (face value) at maturity. …

Private law firm Henries, Kruah & Associates trashed the report of its alleged involvement in a conflict of interest for legitimate services rendered to the National Port of Authority here. Monrovia, Liberia, June 28, 2024 – The Management of the Henries, Kruah & Associates Law Firm rejects media reports of a conflict of interest scandal involving its retainers with the …

The LTA has fined the two GSM companies because they allegedly violated and refused to submit critical data with significant revenue implications. Monrovia, June 28, 2024: The Liberia Telecommunications Authority (LTA) has taken decisive action against the two major GSM companies here, Lonestar Cell MTN and Orange, levying fines of US$300,000 each.  The fines were imposed due to what the LTA …

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 …