The Nigerian stock market saw a windfall on the year as the twenty largest companies on the Nigerian Exchange Limited added N2.47tn ($6.24bn) with the market outperforming inflation. Data from the NGX available to our correspondent revealed that twenty companies listed on the exchange controlled 91.54 per cent of the...
The nation’s bourse opened trading for the week on Monday on a bearish mood with the market indices dropping by 0.02 per cent. Specifically, the market capitalisation, which opened at N20.455 trillion, shed N4 billion or 0.02 per cent to close at N20.451 trillion. Also, the All-Share Index lost 8.12 per...
The President/Chief Executive, Dangote Industries Limited, Aliko Dangote has disclosed plans to increase the human capacity at the Dangote Refinery Project site from 40,000 to 57,000 personnel in the coming months. According to him, the project currently employs 29,000 Nigerians and 11,000 foreigners at the 650,000 barrels-per-day world's largest single...
The Central Bank of Nigeria (CBN) on Monday announced immediate discontinuation of sale of Foreign Exchange (forex) to Bureau de Change (BDC) operators in the country. Mr Godwin Emefiele, the CBN Governor , made this announcement on Tuesday, while presenting a communique from the apex bank’s Monetary Policy Committee (MPC)...
Dubai, United Arab Emirates, May 27, 2021 : New World Group (NWG) is a London headquartered, global diversified investment company with more than $2.5 billion in assets under management. The company continues to play a leading role of investing in technology companies seeking to re-invent their industry ecosystems -...
LONDON- 23 May 2021: Schlumberger announced today a collaboration with Amazon Web Services (AWS) to deploy domain centric digital solutions, enabled by the DELFI* cognitive E&P environment, on the cloud with AWS. This collaboration will bring AWS customers to the DELFI Petrotechnical Suite, which provides access to AI-enhanced applications...
The Niger Delta Development Commission, NDDC, field forensic auditors should now carry out their activities of identifying and verifying projects across the Niger Delta region with extra confidence. This is after the Minister of Niger Delta Affairs, Senator Godswill Akpabio, handed over 33 Ford Ranger utility vehicles to the Security...
Nigeria’s healthcare sector in the last five years has attracted the highest healthcare Private Equity and Venture Capital investment deals in Africa, Ripples Nigeria reports. This is according to data obtained from Africa Private Equity and Venture Capital Association (AVCA) April report on PE and VC deals. Out of the 97...
The Central Bank of Nigeria (CBN) has removed the exchange rate of N379/$1 from its website homepage conforming with the bank’s policy that the NAFEX rate is now the default reference exchange rate for official and legitimate transactions. Since the Central Bank last adjusted the exchange rate in August 2020,...
Zenith Bank and Access Bank are among the list of financial institutions from Africa and the Middle East to indicate interest in the acquisition of Union Bank and other African assets of Atlas Mara Group, a Pan-African banking group. Atlas Mara has been working with Rothschild & Co. to consider...
Streaming giant, Netflix has revealed plans to spend $17 billion on content this year, as revealed in its first-quarter earnings report. The news is contained in a recent Variety report and the company, speaking via its letter to shareholders, said: "As we have noted previously, the production delays from COVID-19...
Super Eagles captain, Ahmed Musa has on Friday donated N2 million to Army Day Secondary School, Bukavu Barrack, Kano. Mr. Rilwan Malikawa, Media Officer, Kano Pillars Football Club, said in a statement in Kano, that the donation was for the construction of a mosque in the school premises. According to the...
Unity Bank Plc on Tuesday announced an asset base of N492.02 billion for the financial year ended Dec. 31, 2020. The bank in its audited result released by the Nigerian Exchange Ltd., said its total assets rose by 67.90 per cent when compared with N293.05 billion achieved in the comparative...
United Bank for Africa (UBA) Plc has released its unaudited results for the first quarter ended March 31st, 2021, showing impressive double-digit growth across most of its major income lines. The bank leveraged on modest growth in both interest and non-interest income as well as increased efficiency to deliver an...
Alleged N60 billion Money Printing: Emefiele says CBN will insist States pay back Budget support loans given to them in 2016
Hope of an intermodal integrated transport system in Lagos was rekindled yesterday as Governor Babajide Sanwo-Olu flagged the commencement of civil works for the first phase of the Lagos Rail Mass Transit (LRMT) Red Line project, anticipated to move half a million passengers daily when it goes into operation...
Minister of Information and Culture, Lai Mohammed, on Thursday said that unfair criticism of the Nigerian government by Nigerians caused Twitter to locate its headquarters in Ghana instead of Nigeria. Co-founder of the social networking service, Jack Dorsey, on Monday announced that Twitter had finally decided to set up an...