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Naira Clears at N1470 at Official Window, Parallel Market Nigeria achieved a rare occurrence in the foreign exchange (FX) markets with zero gap between official and parallel market rates, according to market data. The Naira was sold at N1469.97 at the Nigeria autonomous foreign exchange window and the parallel market as Nigeria continues to seek […]

Analysts Applaud Increase Loans to Private Sector Analysts have lauded credit growth in the private sector of the economy, noting that costs of lending however remain downside to the year 2024 outlook. The Central Bank’s money and credit statistics revealed a notable improvement in the total credit to the private sector, which stood at N62.52 […]

Fitch Keeps Mozambique Ratings at CCC+ Fitch Ratings kept Mozambique’s sovereign credit rating at ‘CCC+’, reflecting elevated government debt levels, weak public financial management, low GDP per capita, weak external finances, weak governance indicators and a challenging security situation. According to the rating note, the country’s robust medium-term growth prospects supported by the development of […]

Meyer Plc Records 61% Increase in Market Value Premium paint and allies products manufacturer, Meyer Plc, registered a sharp gain due to exceedingly stable positive price movement despite a slowdown in market performance. The steep repricing of the company’s market value which printed at N3.67 billion came even though the board of directors had no […]

Geregu Power Grows Investors Funds Six Folds in 17-Month Risk-taking is billionaire Femi Otedola’s secret sauce. For his kind, a simple way to build and maintain wealth is investing. You don’t envy him if you are risk-shy despite tough economic conditions. In 2022, if you had spread N10 million on Geregu Power Plc share at […]

Nigerian Exchange Loses N1.4trn as GSK Delists The equities segment of the Nigerian Exchange (NGX) shed N1.4 trillion as investors took bets to the fixed income market. The monetary policy authority repriced spot rates on Treasury bills to 7 7-year high of 19%, reducing the gap between investment return and inflation rate. For four days […]

Treasury Rates- Income Hunters Take Bets to Debt Market Nigeria’s debt market has seen a flood of funds parked on several government borrowing instruments to reduce inflation bites on investors’ wealth. Risk-conscious income hunters took large bets into the fixed income market as higher rates reduced negative returns on investment. The rate on one short-tenor […]

Tesla Reduces Prices of Model Y Cars Electric Vehicle (EV) automaker, Tesla Inc., has cut prices of some of its Model Y cars in the U.S. until Feb. 29, less than a month after the carmaker cut Model Y prices in Germany. Tesla reduced prices for its Model Y rear-wheel drive and Model Y Long […]

*Urges Him To Be Broadminded, Magnanimous In Victory The Ogbosu-Umulokpa Community in Enugu State, Nigeria has elected Mr. Linus Eze as its new President-General in a keenly contested elections held on February 10, 2024. Mr. Eze emerged victorious after a hard fight against other contenders for the prestigious position. In his congratulatory message, Mr. Sylvester […]

Dana Air is facing backlash from angry passengers stranded at Lagos airport on Saturday after the airline failed to properly communicate flight delays and cancellations. Over a hundred ticketed flyers bound for Owerri and Port Harcourt waited hours past departure times with no updates until their flights were abruptly cancelled due to aircraft issues. The […]

*Says Fixed Legal Fees Contradict Anti-Regulation Arguments Prominent human rights lawyer Femi Falana SAN has stirred controversy within the legal community this week by accusing fellow legal practitioners of hypocrisy for their opposition to the Federal Government’s court-ordered regulation of certain commodity prices. Falana argues that such opposition contradicts existing legislation that extensively regulates lawyer […]

Jude Oguejiofor, a lawyer based in Nnewi, was assassinated last week by unknown gunmen shortly after being abducted alongside his brother. Chief Oguejiofor was the principal partner at Jude Oguejiofor & Co law firm in Nnewi. He and his brother, a medical doctor, were both kidnapped by armed criminals. While his brother was later released […]