Business

Foreign flight from NGX in April sparks N633bn market decline

DailyTimesNGR DailyTimesNGR 28 May 2025 0

BY MOTOLANI OSENI Foreign and domestic portfolio investment in Nigeria’s equities market experienced a decline of N633.47 billion in April 2025 as domestic investors showed resilience amid a shift in foreign investment. The total portfolio investment dropped by N633.47 billion, reflecting a

Business

Interswitch champions African innovation, economic sovereignty at Soft Power Summit

DailyTimesNGR DailyTimesNGR 28 May 2025 0

BY MOTOLANI OSENI Interswitch Group has called for a renewed focus on homegrown innovation and economic autonomy, urging African nations to reduce dependence on foreign capital and prioritise locally developed technology solutions. The fintech giant made this appeal at the 2025 Africa Soft Power Summit in Nairobi, Kenya, where leaders, policymakers, and innovators gathered

Business

Equities market sustains upward momentum as investors gain N188bn

DailyTimesNGR DailyTimesNGR 28 May 2025 0

BY TEMITOPE ADEBAYO The Nigerian Exchange maintained its bullish run on Tuesday as investors gained approximately N188 billion, with the All-Share Index rising by 0.27 per cent to close at 111,902.61 points, while market capitalisation hit N70.56 trillion. This positive close pushed the year-to-date return to 8.72 per cent, up from 8.43 per cent in […]

Business

Foreign investor plans multi-billion-dollar investments in Nigeria

DailyTimesNGR DailyTimesNGR 28 May 2025 0

BY MOTOLANI OSENI Chairman of Allen Le & Partners, International Investment Consulting Joint Stock Company, Mr Allen Le Nam, has unveiled plans to mobilise multi-billion-dollar investments in Nigeria across various sectors. Mr Nam, who is based in Hanoi, Vietnam, disclosed the plan during his official visit to Nigeria, where he pledged to bring in other […]

Business

X-raying All-Share Volatility Index (ASI) In Nigerian Equities Market

DailyTimesNGR DailyTimesNGR 26 May 2025 0

BY (EDITORIAL) There is no gain saying that the Stock Market is increasingly becoming one of the most viable popular investment channels globally. This is because of its high rate of returns on Investment. The Nigerian Stock Market is no exception as it constitutes an integral part of the global economy to the extent that […]

Economy

How Tinubu’s reforms drive customs revenue to record N1.3trn in Q1 2025–Adeniyi

DailyTimesNGR DailyTimesNGR 25 May 2025 0

BY  MOTOLANI OSENI Comptroller-General of Customs, Mr Bashir Adeniyi, says reforms introduced under President Bola Tinubu’s Renewed Hope Agenda have driven the Nigeria Customs Service (NCS) to a record revenue of N1.3 trillion in the first quarter of 2025, more than double the N600 billion generated during the same period in 2023. Adeniyi, who disclosed […]

Economy

Market eyes Dangote Cement as N7.4trn valuation holds ahead of N30 dividend

DailyTimesNGR DailyTimesNGR 25 May 2025 0

BY MOTOLANI OSENI Investors are closely watching Dangote Cement Plc as its market valuation steadies at N7.424 trillion on the Nigerian Exchange ahead of a proposed N30 per share dividend, which is set for distribution on June 23, 2025, pending shareholder approval. The company’s board has recommended the payout based on its strong 2024 earnings, […]

Economy

Wema Bank secures shareholder backing for N50bn private placement

DailyTimesNGR DailyTimesNGR 25 May 2025 0

BY  TEMITOPE ADEBAYO Wema Bank Plc has received shareholder approval to raise N50 billion through a private placement, reinforcing its capital base ahead of the Central Bank of Nigeria’s recapitalisation deadline for banks. The approval, granted at the bank’s annual general meeting, follows the completion of a N150 billion rights issue and signals Wema Bank’s […]

Economy

Oil prices fall on rising supply fears, US-Iran talks

Ihesiulo Grace 25 May 2025 0

Oil prices ended the week lower as concerns over increased global supply, rising US crude inventories, and renewed US-Iran nuclear negotiations weighed on market sentiment. Brent crude dropped to $63.85 per barrel on Friday, down 1.7 per cent from last week’s close of $64.93, while West Texas Intermediate (WTI) slipped 1.5 per cent to $60.92 […]

Economy

CIoD boss commends NDIC’s commitment to good governance

DailyTimesNGR DailyTimesNGR 16 May 2025 0

By Tunde Opalana The Nigeria Deposit Insurance Corporation’s (NDIC) has been commended by the Charted Institute of Directors (CIoD) Nigeria for its commitment to advancing corporate governance im the country. The President and Chairman of Council of the Institute , Alhaji Tijjani Borodo, made these remarks during a courtesy visit by the CIoD Governing Council […]

Business

Airtel Nigeria doubles investment to boost connectivity, digital inclusion

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY MOTOLANI OSENI Airtel Nigeria, a leading telecommunications provider and subsidiary of Airtel Africa, has announced the doubling of its capital investment in Nigeria, a bold move that reinforces its commitment to expanding connectivity, enhancing customer experience, and accelerating digital inclusion nationwide. This increased investment will power major upgrades in

Business

Afreximbank launches $1bn fund to transform African film industry

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY MOTOLANI OSENI Afreximbank has launched a $1 billion Africa Film Fund to catalyse the continent’s creative economy, aiming to overcome persistent infrastructure and financing gaps that have long hindered the growth of Africa’s film and television industries. The fund, established through the bank’s impact investment arm, the Fund for Export Development in Africa (FEDA),

Business

MTN tops 90 million users as mobile subscriptions hit 172 million

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY MOTOLANI OSENI MTN Nigeria surpassed 90 million active subscriptions in March 2025, further consolidating its dominance in the country’s telecommunications market as total mobile subscriptions rose to 172.4 million, according to new data from the Nigerian Communications Commission (NCC). The growth reflects a continued recovery from the impact of the nationwide NIN-SIM

Business

NCSP, NIPC deepen ties to boost Chinese investment in Nigeria

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY MOTOLANI OSENI As part of efforts to bolster foreign investment under the Nigeria-China Strategic Partnership (NCSP), Director-General Joseph Tegbe recently hosted Ms. Aisha Rimi, the Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC). This meeting underscored the ongoing collaboration between the NCSP and the NIPC,

Business

FirstBank deepens NDLEA partnership, pledges stronger fight against drug abuse

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY TEMITOPE ADEBAYO First Bank of Nigeria Limited (FirstBank), the premier West African financial institution and financial inclusion bank, has partnered with the National Drug Law Enforcement Agency (NDLEA) to strengthen the fight against drug trafficking and abuse in Nigeria. At the recent courtesy visit of the management of NDLEA to FirstBank, Mr. Olusegun Alebiosu,

Business

SEC intensifies fight against Ponzi schemes with market outreach

DailyTimesNGR DailyTimesNGR 9 May 2025 0

BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has ramped up its fight against Ponzi schemes in Nigeria, vowing to take decisive action against illegal fund operators while educating the public to prevent further victimisation. At an awareness campaign held at the Dei-Dei Building Materials Market in Abuja, the SEC emphasised its commitment to […]

Business

Stanbic IBTC Bank restates commitment to regional trade innovation

DailyTimesNGR DailyTimesNGR 5 May 2025 0

Stanbic IBTC Bank has reaffirmed its commitment to advancing regional trade innovation. The bank successfully concluded its participation at GTR West Africa 2025, reinforcing its dedication to enhancing trade finance solutions and digital innovation across the region. The two-day conference, held in Lagos, gathered over 400 delegates from more than 200 companies to address

Business

Nigeria-China partnership strengthens amid global trade shifts

DailyTimesNGR DailyTimesNGR 5 May 2025 0

BY TEMITOPE ADEBAYO The Director General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, has emphasized Nigeria’s growing interest in the ongoing global tariff dispute, noting its implications for global trade dynamics. Tegbe made this statement during a recent meeting with the Chinese Ambassador to Nigeria, Amb. Yu Dunhai, at the Chinese Embassy in Abuja.

Business

Tax reforms to ease hardship, lift income for over 90% of workers

DailyTimesNGR DailyTimesNGR 5 May 2025 0

BY TUNDE OPALANA Nigeria’s tax reform bills, currently awaiting Senate approval, are poised to significantly boost disposable income, lower living costs, and protect low-income earners, according to the Presidential Committee on Fiscal Policy and Tax Reforms. Chairman of the Committee, Dr. Taiwo Oyedele, said the bills—already passed by the House of Representatives—include

Business

Nigerian crude slumps below $65 as OPEC boosts output despite market weakness

DailyTimesNGR DailyTimesNGR 5 May 2025 0

BY MOTOLANI OSENI Nigerian crude oil prices have slipped below $65 per barrel—well under the Federal Government’s budget benchmark—amid growing concerns over global oversupply and weakening demand, as the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) forge ahead with increased output. Cargoes scheduled to load from Nigeria on May 10 remain