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Reps Stop Disbursement of $700m Cabotage Vessel’s Fund The House of Representatives has ordered the suspension of planned disbursement of 700 million dollars in cabotage vessel financing fund to Nigerians and companies by the Nigerian Maritime Administration and Safety Agency (NIMASA). This followed the adoption of a motion of urgent public importance by Rep. Henry […]

Sterling Bank Posts N19.3 Billion Profit in 2022 Nigeria’s tier-2 lender, Sterling Bank Plc, posted N19.298 billion annual profit for the financial year 2022, representing a 28.5% increase above N15.022 billion recorded in 2021; its audited financial statement show. In the report, the bank’s board of directors propose 15k as a final dividend for its […]Read More

Oil Rises as US Crude Inventories Drop Crude oil prices edge upward after United States (US) data showed a larger-than-anticipated drop in crude inventories, indicating a rebound in the country’s demand outlook, while expectations of rate hikes by major central banks are limiting price increases. International benchmark Brent crude traded at $75.47 per barrel, a […]

The NBA-SPIDEL (Section on Public Interest and Development Law) section has announced call for its 2023 annual conference on Tuesday 3rd May, 2023 which is to be held from 20th – 23rd June, 2023 with the theme: “POST-ELECTION NIGERIA: THE JUDICIARY IN THE EYE OF THE STORM” It alongside unveil the conference logo as well […]

…We Can’t Sit Today, New Date Would Be Communicated – Secretary Ongoing Strike action by Judiciary Staff Union, JUSUN, Cross River branch has disrupted the activities of the National and State House of Assembly Election Petition Tribunal Panel 1, sitting in Calabar. Our correspondent gathered that the halting of proceedings followed the Tribunals inability to […]

The Attorney General of the Federation and Minister of Justice Abubakar Malami (SAN) says the effective implementation of the Criminal Justice Act (ACJA) 2015 remains one of the priorities of the Federal Government in the area of Justice delivery. Malami said this on Wednesday at a two-day workshop on ACJA 2015 for Police Prosecutors In […]

The National Agency for Food and Drug Administration and Control (NAFDAC) has refuted reports making the rounds online that it has banned Indomie Instant Noodles. The regulatory body said Monday through its Director-General, Prof Mrs Mojisola Adeyeye, that: “NAFDAC did not ban Indomie Instant Noodles produced in Nigeria. NAFDAC has registered several local manufacturers and […]

Federal High Court Stops Seplat Energy from Holding AGM A Federal High Court, Abuja has restrained Seplat Energy Plc from holding its Annual General Meeting (AGM) fixed for May 10 pending the hearing and determination of the substantive matter. The company shares have been flattish at N1115.30 in the last seven days. Some market analysts […]

Treasury Bills Yield Steadies as Banks Halt Selling The average yield on Nigerian Treasury bills (NTB) traded on a quiet note, albeit, with a bullish tilt following a thin transaction in the secondary market. With unimpressive return on naira assets, sustain rise in Nigeria’s headline inflation rate expose investment in treasury market to downsides. The […]

Foreign Investors Increase Position in Nigerian Bonds With less than a 3.5% yield on US 10-year Treasury bills, foreign investors consummated some transactions around the Nigerian curve in the Eurobond capital market amidst a 25 basis points interest rate hike in the United States. Nigeria’s Eurobond price rose across maturities as foreign investors increase their […]

Equities Market Loses N50bn to Selling Rallies The ongoing selling festival in the equities segment of the Nigerian Exchange (NGX) extended Wednesday as sell-side investors pull out funds from the local bourse. Bearish proceedings in the market were due to sell-offs on medium and heavy-weight stocks. Based on market data from the Nigerian Exchange, equities […]

Naira Reverses Trend over Tight Supply Side The Nigerian naira reverses uptrend against the United States dollar across the foreign exchange (FX) market. Higher demand for foreign currencies spooked the depreciation of the local currency amidst foreign investors’ apathy in the economy. Analysts are expressing worry that the exchange rate will worsen in 2023 following […]