SEC director tells court Binance P2P feature was used to devalue Naira
The Security and Exchange Commission (SEC) director, Abdulkadir Abbas, told the Federal High Court, Abuja, that the cryptocurrency exchange platform, Binance Limited, used its Naira peer-to-peer(P2P)...
View ArticleStanbic IBTC seeks to raise N550 billion through rights issue and debt...
Stanbic IBTC Holdings Plc is looking to raise N150 billion through a rights issue programme and N400 billion through a debt issuance programme, amounting to a total of N550 billion. The post Stanbic...
View ArticleOil and gas stocks decline by 6.5% in one week
Oil and gas as well as banking stocks were some of the biggest losers in the Nigerian Exchange (NGX) during the week ending May 18, 2024. The post Oil and gas stocks decline by 6.5% in one week...
View ArticleNGX lists 402 million shares of Cadbury Nigeria worth N7.036 billion
The Nigerian Exchange Limited (NGX) has admitted additional 402,082,657 ordinary shares of 50 Kobo each per share of Cadbury Nigeria Plc on its platform. The post NGX lists 402 million shares of...
View ArticleTen stocks with best dividend payouts in Nigeria for FY 2023
Companies listed on the Nigerian Exchange (NGX) have declared total dividend payouts exceeding N1.5 trillion for the fiscal year 2023. The post Ten stocks with best dividend payouts in Nigeria for FY...
View ArticleBitcoin hits highest point since halving
Bitcoin's price shot up to its highest point since the much-discussed halving event on April 19, reaching a recent high of $67,000 The post Bitcoin hits highest point since halving appeared first on...
View ArticleJaiz Bank posts pre-tax profit of N11billion for FY 2023
Jaiz Bank Plc has announced its audited financial results for 2023, reporting a profit before tax of N11.1 billion. This is a 67% increase from the N6.6 billion profit recorded in 2022. The post Jaiz...
View ArticleUBA: N100 Share Price Achievable – Oliver Alawuba
United Bank for Africa’s share price can hit the N100 per share mark, according to Oliver Alawuba, the Group Managing Director of the bank. He made this statement in response to a question from the...
View ArticleNigeria’s FX reserves gain $535 million in 28 days as official market...
Nigeria's foreign exchange (FX) reserves have increased by approximately $535 million over the past 28 days, as the official market continues to grapple with a scarcity of dollars. The post Nigeria’s...
View ArticleNotcoin token value drops by over 85% in first week of listing
Notcoin (NOT) just concluded a very successful airdrop campaign has lost over 85% of its value in the first week of its listing. The post Notcoin token value drops by over 85% in first week of listing...
View ArticleForex crunch pushes Berger Paints, CAP’s input costs to N17.2 billion in 2023
Rising costs of key raw materials due to escalating foreign Exchange have also continued to affect the operations of the companies with a negative effect on their profit margins. The post Forex crunch...
View ArticleWhat is Tapswap mining and how can you earn from it
The Nigerian internet space has been set agog by a new telegram-based crypto mining project with a huge promise of financial returns like the lately successful Notcoin. The post What is Tapswap mining...
View ArticleNaira appreciates marginally on 93% higher FX supply on official market
The exchange rate between the naira and dollar in the official NAFEM Window has appreciated to N1,468.99/$1 on Monday, May 20, 2024. The post Naira appreciates marginally on 93% higher FX supply on...
View ArticleExchange rate for Customs duty collections drops by N19, higher than official...
The exchange rate for duties collection by the Nigerian Customs Service (NCS) has dropped from N1,500/$ to N1,481 representing a decline of N19 following the appreciation of the naira on the official...
View ArticleCrypto industry received $2.4 billion in venture capital funding in Q1 2024...
The crypto industry witnessed a remarkable revival in the first quarter (Q1) of 2024 as venture capital investments grew to $2.4 billion within the quarter. The post Crypto industry received $2.4...
View ArticleMTN adds N126 billion in market boost as N3.4 billion Access Bank shares...
MTN Nigeria’s market value increased by N126 billion on May 20 as its market cap moved from N4.70 trillion to N4.83 trillion. MTN was a significant contributor to the NGX’s bullish run during the...
View ArticleNaira breaks below 1500/$ as CBN decides on interest rates today
The naira stayed around a key support line in the country's unofficial market as analysts expect Nigeria’s apex bank to increase interest rates later today. The post Naira breaks below 1500/$ as CBN...
View ArticleRecent Naira depreciation reflects absence of efforts to secure large forex...
A recent report from Agora policy has opined that the recent depreciation of the naira in May reflects the lack of efforts on the part of the Central Bank of Nigeria (CBN) at securing large forex...
View ArticleDangote Sugar issues N100 billion commercial papers at 20.65%, 21.17% rates
Dangote Sugar Refinery plans to borrow N50 billion each in Series 4 and 5 of its N150 billion Commercial Paper Issuance, amounting to N100 billion to be raised from the Series 4 and 5 CP issuances. The...
View ArticleNigerian REITs earn N2.16 billion in rents for 2023
Nigerian Real Estate Investment Trusts (REITs), including UH REIT, SFS REIT, and UPDC REIT, recorded a rental income of N2.16 billion for 2023. This marks a 12% increase from the N1.93 billion recorded...
View Article