Business

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 …

Despite the recent depreciation of the Naira against the dollar, Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN) has expressed optimism that the excessive volatility of the naira may be behind us. He even revealed that the apex bank was “relatively happy” with the progress made in stabilizing the naira. Ripples Nigeria reports that the naira for the …

Investors in the Nigerian equity market lost N250 billion at the close of trading on Tuesday. This follows the plunge in the value of shares of OANDO, UPL, ACADEMY, and others on the stock exchange today. After five hours of trading on the capital market, equity capitalization plummeted to N56.1 trillion from N56.3 trillion posted by the exchange on Monday. …

Following a recent go-slow by aggrieved workers of the Salala Rubber Corporation (SRC) in Margibi County, who lamented bad labor practices and poor living conditions, among other things, NEW DAWN’s investigation into the plantation uncovers dilapidated houses and an inhabitable environment for tappers.     By Ramsey N. Singbeh, Jr., in Margibi Margibi County, Liberia, June 25, 2024 – Nearly a week …

Days after Femi Otedola acquired 863 million shares of FBN Holdings to become the largest single shareholder in the financial services giant, the billionaire businessman has consolidated his position with an additional 797 million shares to increase his stake in the company to 11.64%. This development was contained in a notice to the Nigerian Xchange Group (NGX) by Adewale Arogundade, …

As Nigerians battle rising inflation and economic hardship, loans Nigerians took from banks increased to N3.82 trillion in January. This amount is 11.9 percent higher than the N2.64 trillion recorded in December 2023. The Central Bank of Nigeria (CBN) disclosed this in its monthly Economic report posted on its official website on Monday. On a year-on-year basis, the figure shows …

Equity markets again started the week on a negative note as investors recorded losses of N51.70nbn at the end of the trading session on Monday, 24 June 2024. This follows the fall in share prices, including INTBREW, DEAPCAP, and DAARCOMM on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization fell to N56.371 …

Shoprite Mall announced that it will close its branch located at Novare Central Mall in Wuse Zone 5, Abuja, effective June 30, 2024. This decision was taken after a thorough evaluation of the store’s financial situation and current business climate, according to a circular signed by CEO Dr. Folakemi Fadahunsi on Monday. The circular read: “We regret to inform you …