Oyo State Government to invest N691 million in Wema Bank’s rights issuance
In anticipation of a potential forthcoming rights issue by Wema Bank Plc, the Oyo State Government has allocated a sum of N691.3 million for investment in such an endeavour by the bank. The post Oyo...
View ArticleNaira continues its rebound against the dollar at parallel market, now below...
The naira has continued its recovery against the US dollar at the parallel market as it appreciated to N1280/$1 on Saturday The post Naira continues its rebound against the dollar at parallel market,...
View ArticleCustoms FX rate for cargo clearance drops below official, parallel market prices
The exchange rate for cargo clearance has dropped below the prevailing official and parallel market rate to N1,164.84 to the dollar according to the latest update on the Nigeria Customs Service’s (NCS)...
View ArticleNigerian Breweries looks to convert parts of N254 billion debt to equity
Nigerian Breweries is seeking to convert part of its liabilities into equities. This is according to the resolutions from the group’s Annual General Meeting (AGM) held on April 26, 2024. The post...
View ArticleAnalysts warn Bitcoin could drop as low as $59,000, say coin has reached...
An experienced market analyst has sounded a note of warning that Bitcoin could soon drop to as low as $59,000 as the crypto reaches its cycle peak. The post Analysts warn Bitcoin could drop as low as...
View ArticleBitcoin miners face financial squeeze as earnings continue to fall...
Bitcoin Miners are currently facing a financial squeeze as their earnings from mining have fallen below pre-halving levels. The post Bitcoin miners face financial squeeze as earnings continue to fall...
View ArticleNigerian Breweries posts N52.1 billion net loss in Q1 2024
Nigerian Breweries Plc has released its unaudited financial statements for the first quarter (Q1) 2024, posting a loss after tax of N52.1 billion. The post Nigerian Breweries posts N52.1 billion net...
View ArticleDMO sells treasury bills worth N2.669 trillion in March – Report
The amount represents 3.07% % (N79.54 billion) Month-on-month (MoM) increase on the value of T-bills sold across its auctions in February 2024 (N2.589 trillion). The post DMO sells treasury bills worth...
View ArticleNaira picks up 10% gain as EFCC fights speculators
The new rate represents a 10% increase when compared to N1,400 to a dollar it traded at the close of trading activity on Friday. The post Naira picks up 10% gain as EFCC fights speculators appeared...
View ArticleHere are 15 firms that delisted from the NGX between 2021 and 2023
Between 2021 and 2023, about 13 firms delisted from the Nigerian Exchange (NGX), due to varying reasons, from breach of regulatory requirements to voluntary delisting. With the cumulative market cap of...
View ArticleAnalysis: 2023 Premium Pension Corporate and Pension Fund Accounts for the...
Premium Pension ended the 2023 financial year with 794,946 RSA holders in the 7 publicly available pension funds it manages. The post Analysis: 2023 Premium Pension Corporate and Pension Fund Accounts...
View ArticleBREAKING: Exchange rate opens week at N1,380 at parallel market
The exchange rate between the Naira and the Dollar is being quoted as high as N1,380/$1 at the parallel market, a weakening from the N1,280/$1 recorded over the weekend. The post BREAKING: Exchange...
View ArticleSeplat Energy posts pre-tax profit of $69.3 million in Q1 2024
Seplat Energy Plc has released its unaudited financial statements for Q1 2024. The company posted a net loss of $1.93 million, representing a 103.3% year-on-year decline from the $57.5 million net...
View ArticleForex crisis: EFCC receives Court’s approval to freeze 1,146 accounts...
A Federal High Court in Abuja has approved an interim order requested by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts owned by various individuals and...
View ArticleForex deals: CBN stops 4 fintechs from onboarding new customers
Some of the fintechs pointed out that the directive may have been misdirected given that most of the accounts involved were commercial bank accounts. The post Forex deals: CBN stops 4 fintechs from...
View ArticleOkomu Oil reports N23.033 billion pre-tax profit in Q1 2024
Okomu Oil Palm Plc has reported a pre-tax profit of N23.033 billion for the Q1 ended March 31, 2024, representing a 54.77% year-on-year (YoY) increase. The post Okomu Oil reports N23.033 billion...
View ArticleWaltersmith refinery pays interim dividend to NCDMB after N23.6 billion PAT...
The Nigerian Content Development and Monitoring Board (NCDMB) has announced that it has received an interim dividend of N450 million from the N1.5 billion declared by Waltersmith Refinery and...
View ArticleStock market Investors lose N3.57 trillion in April amid CBN policies
The NGX All-Share Index experienced a significant decline in April, losing N3.57 trillion in market value. This downturn represents the first monthly decline for the NGX this year, contrasting with...
View ArticleBUA Foods hits pre-tax profit of N62.4 billion in Q1 2024, as FX losses hit...
BUA Foods has posted a profit before tax of N62.4 billion in Q1 2024, representing a 36% year-on-year increase from the N45.9 billion pre-tax profit posted in Q1 2023. The post BUA Foods hits pre-tax...
View ArticleAfter raising hopes, Naira depreciates against the dollar by 5.8% in April
The Nigerian Naira closed the month of April in a steep decline, closing at N1,390.96/$1 in the NAFEM, where the exchange rate trades officially. This rate represents a 5.8% depreciation from the...
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