Forex crisis: FG slams $10 billion fine on Binance
The Federal Government has slammed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis. The post Forex crisis: FG slams $10 billion fine...
View ArticleTranscorp Power to list on the NGX at a N1.8 trillion market cap
Transcorp power is set to list on the Nigerian Exchange Limited (NGX) with a market cap of N1.8 trillion. The post Transcorp Power to list on the NGX at a N1.8 trillion market cap appeared first on...
View ArticleCBN revokes operational licenses of 4,173 BDCs
The Central Bank of Nigeria (CBN) has revoked the operational licenses of more than 4,000 Bureau De Change (BDC) operators registered under its oversight. The post CBN revokes operational licenses of...
View ArticleNGX loses N672 billion as MTN, BUA lead selloffs
At the close of the first trading day of the month, the NGX market capitalization took a hit, dropping by N672 billion to settle at N54.04 trillion. The post NGX loses N672 billion as MTN, BUA lead...
View ArticleMoney Supply: CBN sells N1 trillion OMO Bills at record high 21.5%
The Central Bank of Nigeria has intensified its efforts to manage the money supply by conducting Open Market Operations (OMO) auctions, through which it sold N1.06 trillion in bills. The post Money...
View ArticleOfficial exchange rate closes week at N1,548.25/$1 as CBN takes action...
The Naira exhibited a positive trend against the US Dollar in the official market, concluding the week at N1,548.25/$1. The post Official exchange rate closes week at N1,548.25/$1 as CBN takes action...
View ArticleNGX Group reports N5.2 billion profit after tax amidst headwinds
NGX Group Plc has released its full year 2023 financial result posting a profit after tax of N5.250 billion amidst economic headwinds. The post NGX Group reports N5.2 billion profit after tax amidst...
View ArticleDangote Sugar incurs N172 billion in forex losses, ends 2023 with N108.9...
Dangote Sugar Refinery Plc has reported a loss before tax of N108.92 billion compared to a pre-tax profit of N82.3 billion a year earlier. The post Dangote Sugar incurs N172 billion in forex losses,...
View ArticleKey reasons why Bitcoin is trading near its all-time high
Bitcoin surpassed $65,300 on Monday morning, bringing it one step closer to its all-time high of $69K, which was reached in November 2021. The post Key reasons why Bitcoin is trading near its all-time...
View ArticleAirtel Africa buys 491,861 shares from Citigroup Global as part of share...
Airtel Africa plc today has announced that it has bought 491,861 from Citigroup Global Markets Limited as part of its proposed share buyback program announced last week. The post Airtel Africa buys...
View ArticleTranscorp Power starts first day of trading gaining 10%
Transcorp Power Plc was listed on the Nigeria Exchange on Monday, March 4th gaining 10% and closing at a share price of N264 per share. The post Transcorp Power starts first day of trading gaining...
View ArticleNascon Allied plc declares 151.28% increase in profit-after-tax for FY 2023
Nascon Allied Industries Plc has reported an increase in its profit after tax from N5.46 billion reported in 2022 to N13.72 billion for 2023. The post Nascon Allied plc declares 151.28% increase in...
View ArticleMarket Rally: TRANSPOWER’s SWOOT group entry spurs N1.85 trillion market rebound
The NGX market capitalization witnessed a significant increase, soaring by an impressive N1.85 trillion to settle at N55.89 trillion, by the end of the first trading day of the week. The post Market...
View ArticleMTN Nigeria loses N982 billion to top weekly losers
NGX reported a significant loss of approximately N982 billion by the close of weekly trading, positioning it as the top loser for the week. The post MTN Nigeria loses N982 billion to top weekly...
View ArticleExchange rate gains for third straight day on official market
The exchange rate between the naira and the dollar strengthened for the third consecutive day, closing at N1,534.9/$1 on the official market. This marks the strongest level the naira has reached in 7...
View ArticleGold prices hit an all-time high amid high geopolitical uncertainty
The price of the precious metal settled at an all-time high on Monday, supported by continuing geopolitical tensions and bets on a Fed rate cut. The post Gold prices hit an all-time high amid high...
View ArticleThese are the shareholders of newly listed Transcorp Power Plc
As of December 31, 2023, a detailed analysis of the company's register of members provides an insightful glimpse into its shareholding structure, revealing a total of 7.5 billion outstanding shares....
View ArticleTranscorp Power says 18% of income from West African countries, lists 7.5...
Transcorp Power Plc has revealed that 18% of its revenue comes from sales of electricity to some West African countries, which helps it generate the much-needed foreign exchange for its operations. The...
View ArticleTranscorp Power market cap hits N2.2 trillion as demand skyrockets
Newly listed Transcorp Power shares opened trading a day after its debut on the board of the NGX with over 16.9 million shares on full bid with zero offers. The post Transcorp Power market cap hits...
View ArticleNaira depreciates by 7.32% to N2,050 against Great British Pound at the black...
The parallel market exchange rate has experienced a substantial decline, reaching a low point of N2050 per Great Britain Pound (GBP), reflecting persistent demand pressures that have contributed to the...
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