Sell-offs in Zenith, GTBank, Wapco drags market into red on the back of rising inflation
Charles Abuede
April 15, 2021
Charles Abuede The local equities market still in the bear territory as it could not sustain the positive gain of Wednesday due to the recently released inflation rate of 18.17 per cent by the National Bureau of Statistics (NBS) on Thursday. Consequently, the local bourse was dragged into the south due to sell-offs in Wapco Plc […]
Swiss Axa partners Bitcoin Suisse, becomes first insurer to accept BTC payment
Zainab IwayemiApril 15, 2021
Zainab Iwayemi The second-largest insurance company in Europe, AXA Group has partnered with Bitcoin Suisse, a Swiss crypto-finance and technology firm to accept bitcoin as means of payment following the demand of clients for an alternative method of payment. The Insurance group revealed in a blog post on its website. The recent integration came following […]
End current monetary rascality – Obaseki replies FG
Arakunle KayodeApril 15, 2021
Arakunle Kayode Godwin Obaseki, Edo State governor has reacted to the Finance Ministry’s stance that no cash was printed to augment the FAAC allocation as maintained by the Minister of Finance, Budget and National Planning, Zainab Ahmed. The governor in a statement obtained by Business a.m. on Thursday adviced the Federal Ministry of Finance […]
BREAKING! Truce in Nigeria sugar war as Ganduje brokers Dangote, Rabiu meeting
Onome AmugeApril 15, 2021
Both parties issue joint statement on cordial sugar supply, pricing Onome Amuge Leading Nigerian business entrepreneurs and top sugar producers in Africa, Aliko Dangote, Chairman Dangote Group of Company and Abdul Rabiu, Chairman BUA Group have quelled disputes relating to control over sugar pricing, demand and supply in the Nigerian market. The two […]
CBN prints money for FG to cover for its fiscal shortfalls, analysts say as they justify Obaseki’s claims
Charles AbuedeApril 15, 2021
Charles Abuede The response from the federal government over the comments of Godwin Obaseki, the Edo state governor over the printing of currency notes to augment the amount distributed to states by the federation account allocation committee (FAAC) for the month of March 2021 has led some economic analysts to point few loopholes as […]
FEC approves N1.59trn for patrol boats, UI library, and FIRS building extension
Online EditorApril 15, 2021
Arakunle kayode The Federal Executive Council (FEC) has approved contracts worth N1.59 trillion for the Nigerian Customs Service (NCS) to purchase 16 patrol boats and 427 operating vehicles, as well as the expansion of the University of Ibadan (UI) Library and construction of a new Federal Inland Revenue Service (FIRS) office complex at Ilupeju, […]
BREAKING: Nigeria’s headline inflation reaches 18.17% in March 2021; the highest in over four years
Charles AbuedeApril 15, 2021
Charles Abuede Recent inflation numbers published by the National Bureau of Statistics (NBS) has revealed that Nigeria’s headline inflation has climbed year on year for the nineteenth consecutive month to 18.17 per cent in March 2021, from 17.33 per cent since Nigeria last recorded a fall in inflation numbers at 11.02 per cent in […]
Positivity breathes on the equities as buying interests in MTN, FBN, Guinness pushed in ASI northward
Online EditorApril 14, 2021
Investors made N18bn from intense profiteering in midweek; Naira gained N1.50 in the FX segment Charles Abuede Positive reactions returned to the local equities market on Wednesday despite the sustained weakness of investor sentiment as the market all share index advanced 0.09 per cent to give investors profit of N18 billion due to […]
Nigeria’s oil-rich Rivers set to inaugurate cassava processing factory
BEN EGUZOZIEApril 14, 2021
…3,000 farmers to be immediate off-takers …Shell part owner of plant …Nigeria, though crop’s global leader, still records low yields per hectare Ben Eguzozie, in Port Harcourt Nigerian oil-rich sub-national, Rivers State, is set to inaugurate a cassava processing plant in May, which will have 3,000 farmers as immediate off-takers. The company […]
Nigerian Exchange Group (NGX) Plc shares to be sold at N25 on the NASD OTC Securities Exchange
Charles AbuedeApril 14, 2021
Trades to be carried out by NASD’s 152 licensed and registered dealers Charles Abuede The shares of the Nigerian Exchange Group (NGX) Plc formerly known as the Nigerian Stock Exchange has now been admitted for trading on the NASD over-the-counter (OTC) Securities Exchange market. This was made public on Wednesday by NASD plc, […]