Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher

6 hrs

Bargain hunters feast on Airtel, MTN, Lafarge as Nigeria bourse swings higher

By Charles Abuede   Market analysts anticipate the trend to linger through the week, outweighing the trickles of selloffs     Nigeria’s equities market’s performance was majorly driven Tuesday by unrelenting bargain hunting activities across top stocks with sound fundamentals as the benchmark index rose 1.21 per cent to close at 41,584.94 points, following strong […]

SDG: Covid-19 magnifies financing gap in developing countries by 70%, says OECD

Ben Eguzozie7 hrs

  Citizens don’t benefit from social safety net Providing access to clean energy crucial for post-pandemic recovery Africa’s infrastructure financing gap to hit $170bn in 2025 – AfDB   The absence of carefully crafted pandemic policy responses such as COVID-19 by governments of developing countries could reverse decades of progress in sustainable development and the […]

CBN’s MPC keeps MPR at 11.50% in line with analysts’ expectations

8 hrs

CBN’s MPC keeps MPR at 11.50% in line with analysts’ expectations

By Charles Abuede   Says aggressive policy stance will worsen inflation in the economy   The 277th meeting of the CBN’s Monetary Policy Committee (MPC) held on Tuesday in Abuja in the light of lingering uncertainties associated with the COVID-19 pandemic, economic recession, saw the committee retain the policy rate at 11.50 per cent for […]

Africa startups received $2.44bn investment with marginal drop in 2020

Ben Eguzozie19 hrs

Africa startups received $2.44bn investment with marginal drop in 2020

  Fintech most funded sector at 33%; cleantech, 22% Investment report says 1,075 deals recorded against 1119 in 2019 Nigeria’s Paystack’s $200m among high-profile acquisitions       Tech startups in Africa received continuous flow of investment in 2020, despite grave fears that pressures from the Covid-19 pandemic would ravage the continent’s sector investment, states […]

Analysts downplay rates tweak as CBN’s MPC meets

January 25, 2021

Analysts downplay rates tweak as CBN’s MPC meets

By Charles Abuede   With inflation knee on its neck‭, ‬MPC can’t breathe a rates cut Apex bank caught between pandemic and spiralling inflation‭, ‬despite recession   The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will hold its first meeting for 2021 on Monday and Tuesday, during which it is expected […]

Appeal Court suspends order against shutting of SEPLAT headoffice

Ben EguzozieJanuary 23, 2021

Appeal Court suspends order against shutting of SEPLAT headoffice

Seplat Petroleum company has announced that the Court of Appeal sitting in Lagos on Friday suspended the order of interlocutory injunctions made by the Lagos Federal High Court that led to the sealing of the oil company’s corporate head office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is […]

Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

January 22, 2021

Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

By Charles Abuede   Says 86 of Nigeria’s SMEs spend a whopping $14bn annually on diesel for generators Nigerian companies lose an average 10% of their sales due to inaccessible, unaffordable and reliable electricity   The president of the African Development Bank (AfDB), Akinwumi Adesina, has stated that profit shifting, base erosion and tax avoidance by […]

Nigeria equities go bearish on selloffs in DangCem, AXA Mansard, UBA

January 21, 2021

By Charles Abuede   The Nigerian equities market went bearish at the close of trading on Thursday losing 0.12 per cent to close at 41,099.15 points, something some market analysts believe to be indicative of a temporary correction from the bullish trend experienced following the release of inflation figures that printed 15.75 per cent in […]