BY TEMITOPE ADEBAYO Investors in the Nigerian equities market are projected to gain N25.4 trillion in 2025, driven by a forecasted 40.4 per cent return, according to analysts. This optimism follows the market’s impressive performance in 2024, which saw the All-Share Index (ASI) rise by 37.72
Money
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has issued a directive requiring all publicly listed companies to publish their financial statements on their websites effective from January 2025. The Commission while issuing the directive in a Circular Thursday, warned that failure to comply with this directive would attract sanctions. According to the
The Central Bank of Nigeria’s (CBN) recent directive imposing a N100,000 daily withdrawal limit for individuals has elicited strong reactions from Point-of-Sale (POS) operators nationwide. While the policy aims to drive a cashless economy and combat illicit financial activities, many operators view it as a threat to their businesses, especially during the bustling Yuletide
BY MOTOLANI OSENI Leadway Group has donated N117 million worth of relief packages to the Borno State flood victims in response to the recent unprecedented flooding that has devastated communities across the state. This disaster has affected over a million residents, displaced thousands, and caused significant damage to infrastructure and properties across the state.
A new report from global technology leader, Ericsson, highlighted that 35 per cent of 5G users are willing to pay for premium services that exceed standard 5G offerings, driven largely by the demand for seamless performance in high-traffic areas and GenAI applications. Ericsson’s findings revealed that consumer expectations are shifting; 5G users are not only […]
BY TEMITOPE ADEBAYO The Lagos State Government has kicked off the implementation and enforcement of the newly deployed e-call-up system in Lekki Free Trade Zone to effectively manage the influx of trucks within the axis. The Special Adviser to the Governor on Transportation, Hon. Sola Giwa stressed that the initiative is crucial in preventing chaotic […]
BY MOTOLANI OSENI The Chairman, Heirs Holdings Group and the Chairman, United Bank for Africa (UBA), Tony Elumelu, has called for strong collaboration between International Oil Companies (IOCs) and indigenous operators towards achieving sustainable development of the oil and gas sector. Speaking during the 3rd anniversary of Nigerian Upstream Petroleum Regulatory
China and Nigeria have taken a significant step to enhance their long-standing partnership, advancing their relationship to a comprehensive strategic level. This new phase of cooperation was announced at the 2024 Forum on China-Africa Cooperation (FOCAC), where both nations pledged to deepen economic ties. As China’s second-largest trading partner in Africa, Nigeria stands
BY MOTOLANI OSENI The Africa Center and the African Export-Import Bank (Afreximbank) are set to launch the Afreximbank Africa Diaspora Center (AADC), a pioneering initiative aimed at strengthening the connection between Africans on the continent and those in the Diaspora. The AADC will serve as an institutional platform to bridge the gap, facilitating the exchange […]
Egbin Power Plc has launched an internship programme tagged Egbin PowerUp as part of commitment to further advance technology in Nigeria and strengthen the power sector, The programme is a six-month immersive internship designed to deepen students’ understanding of the industry, while fostering innovation and excellence. According to the Genco, the initiative
BY MOTOLANI OSENI The Centre for the Promotion of Private Enterprise (CPPE) said, it is worried about the growing incidents of regulatory irritations, distractions, and frustrations inflicted on the Nigerian manufacturing sector and other investors in the Nigerian economy. The director/CEO of CPPE, Dr. Muda Yusuf stated that, there are disturbing tendencies of overbearing
BY MOTOLANI OSENI Five Nigerian startups who have been selected to be part of the cohort 8 of Google for Startups Accelerator, will leverage Artificial Intelligence (AI) to solve significant challenges across various sectors, including fintech, climate, health, and other services. The startups from Nigeria include CDIAL AI, a startup that is transforming multilingual
By Motolani Oseni To cushion the effect of challenges currently faced by Nigerians, the Federal Ministry of Industry, Trade and Investment has unveiled the Bank of Industry’s (BoI’s) palliative food programme. The Honourable Minister, Dr Doris Nkiruka Uzoka-Anite, at the launch of the programme at BoI’s head office in Lagos, said the move is coming […]
By Motolani Oseni The equities market of the Nigerian Exchange Limited on Wednesday edged higher as the market capitalization gained N1.62trillion to close at N55.58trillion. At the close trading activities yesterday, the Lagos bourse benchmark index ended 3.00 per cent stronger to settle at 101,517.11 points. This was due to continued buy interests in industrial […]
By Motolani Oseni Chairman and CEO of TotalEnergies, Patrick Pouyanné, has reaffirmed the company’s long-term commitment to Nigeria and supports the country in reducing methane emissions. Pouyanné stated this at the meeting with President Bola Tinubu, President in Abuja. The Company said over the past decade, it has been the largest private energy investor in […]
By Motolani Oseni A specialised infrastructure credit guarantee institution, InfraCredit said, it has admitted equity investment of AIICO Insurance Plc, representing five percent of total share capital of InfraCredit and joining Leadway Assurance Plc as the second private domestic institutional investor. Further to this new equity investment, InfraCredit’s paid-in capital
By Motolani Oseni The equities market of the Nigerian Exchange Limited (NGX) at the end of mid week trading activities relapsed as market capitalisation declined by N5.17billion. Specifically, the domestic bourse slipped as the benchmark index closed 0.01 per cent weaker to settle at 63,757.23 points, while market capitalisation shed N5.17bn to close at N34.72trillion.
By Temitope Adebayo First Bank of Nigeria Limited has reiterated its commitment towards financial inclusion in the country as it joined the rest of the world to participate in the 2023 edition of the Global Money Week (GMW) held recently. Global Money Week is an annual global awareness-raising campaign on the importance of ensuring that […]
By Temitope Adebayo At end of yesterday’s trading activity on the equities market of the Nigerian Exchange Limited (NGX), the market benchmark index closed flat, as the benchmark index settled at 51,953.41 points, while the market capitalization gained N230.80million to close at N28.30trillion. Specifically, the All Share Index (ASI) closed at 51,953.41 points, slightly
The International Monetary Fund’s (IMF) Executive Board has approved immediate debt service relief to 25 of its member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT). Ms Kristalina Georgieva, the Managing Director, said this in a statement issued in Washington, D.C. on Tuesday. According to her, the relief was part of the […]