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It has been a forgettable week for investors in the Nigerian equity market after suffering a cumulative loss of N2.75 billion in the just ended trading week. The exchange recorded losses on three of the five trading days and made profits on two trading days. Market capitalization dropped to N56.58 trillion from N56.60 trillion the previous week as the All …

Nigeria’s Finance Minister, Wale Edun, has reiterated his country’s commitment to implementing the Economic Community of West African States (ECOWAS) single currency, ECO. This is despite recent setbacks, with the convergence rate among member states falling to 29.2% in 2023, well below the adoption target. Edun’s remarks, delivered during a virtual high-level committee meeting on Friday, signaled a renewed push …

Nigeria’s Minister of Innovation, Science and Technology, Uche Nnaji, on Friday, announced plans to develop domestic ethanol production using cassava as a feedstock. The initiative, marked by a Memorandum of Understanding between Montserrado Investments and the Federal Institute of Industrial Research Oshodi (FIIRO), aims to establish a cassava-based ethanol plant in Ekiti State. The project promises two benefits: economic and …

  Carlos Alcaraz has been compared to the “Big Three” Roger Federer, Rafael Nadal and Novak Djokovic when they were his age. Djokovic, Nadal and Federer At just 21 years old, the Spaniard has already won three Grand Slam titles and earned the number one spot in the world rankings. He has almost every shot in the game and is …

Here are the top 10 stories making headlines across the country. 1. Court orders final seizure of property of convicted retired thief Maina Justice Joyce Abdulmalik of the Federal High Court, Abuja, on Friday, ordered the final seizure of at least 20 properties linked to the former Chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina. Read more …

Spain advanced to the semi-finals of the European Championship after beating hosts Germany in the last eight on Friday night. The Spanish team performed spectacularly in the tournament, having achieved three wins from the group stage against Italy, Croatia and Albania. They beat giant killers Georgia in the last 16, and now beat hosts and giants Germany in extra time. …

Operatives of the Federal Capital Territory Police Command and troops of the Nigerian Army Guards Brigade have arrested six suspects during joint clearance operations at a bandit camp. The command spokesperson, SP Josephine Adeh, who disclosed the incident in a statement issued on Friday, July 5, 2024, said the bandits confessed to being involved in a series of kidnappings in …

Justice Joyce Abdulmalik of the Federal High Court, Abuja, on Friday, ordered the final forfeiture of at least 20 properties linked to the convicted former Chairman of the Pension Reform Task Team (PRTT), Abdulrasheed Maina. The judge in his ruling stated that the Commission for the Eradication of Economic and Financial Crimes (KPK) had proven its case beyond a reasonable …

Suspected armed robbers shot and killed an unidentified man shortly after he left a bank where he had gone to make a transaction. The robbers reportedly followed the man from the bank to Phase II, Lokongoma, just opposite the market, where they hijacked his car, dragged him out and fired several shots at him. The attackers then took away a …

Nigerian equity markets closed the week on a negative note as investors lost N23 billion at the close of trading on Friday. This follows the decline in stock prices such as UPDCREDIT, JULIUS BERGER, and IKEJA HOTEL, among others on the trading floor today. After five hours of trading in the capital market, equity capitalization plunged to N56.5 trillion from …