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Mobile internet services have been temporarily cut in Senegal following protests over the indefinite postponement of presidential election announced by President Macky Sall. Elections earlier scheduled for February 25, 2024 were shifted by Sall, citing a dispute with the candidates list. Sall said he signed a decree abolishing a November 2023 measure that had the […]

Uncertainties Threaten Survival of Companies in Nigeria As foreign exchange losses continue to impact earnings performance negatively, companies operating in fast fast-moving consumer goods (FMCG) sector are facing multiple unpriced risks. According to results churned out on the Nigerian Exchange, most of the companies posted losses as a result of foreign currency liabilities. Cadbury Nigeria […]

US Dollar Inflows to FX Market Slumps 39% Foreign currency inflows into the Nigeria FX market declined by more than 39% in January 2024 amidst US dollar shortage that has forced the monetary authority to devalued the naira. Weak sentiment in the financial market has reduce foreign investors’ appetite in sovereign fixed income instruments and […]

Tripple Gee & Company Inks 42% Market Valuation Growth Tripple Gee and Company Plc led the gainer chart on the Nigerian Exchange (NGX) as its share price increased by 42%.  The packaging and container company’s popularity has taken a new dimension in the stock market, a signal that something is cooking. In its 9 months […]

Nigerian Exchange Rises by N1.12Trn to N57Trn Year-to-date return inched near 40% as the equities market capitalisation of the Nigerian Exchange (NGX) hit N57 trillion following buying interest on value, growth stocks. The trading activities ended positive in the just concluded week with the all-share index advancing by 1.97% week-on-week to close at 104,421.23 points. […]

Geregu Power Hits N1.42trn on Earnings Beat –MarketNews The market value of Geregu Power Plc jerked up to N1.42 trillion after the company’s 2023 earnings beat. Its profit climbed by about 58% year on year to N16.052 billion. Details from its financial scorecards showed that Nigeria’s first power company to be listed on the local […]Read More

Devaluation after Undervalue Naira Tantrum Confused FX Speculators Currency speculators have rough days in the foreign exchange market following exchange rate unannounced exchange rate swings at the official market. The new FX regime eliminated gap between official and parallel market as monetary policy authority accused banks for sharp practices. Nigeria government re-devalued the naira further […]

The Federal Government has suspended the posting of National Youth Service Corps members to states considered unsafe due to the security challenges in the country. The Minister of Youths Jamila Bio-Ibrahim, said this on Sunday while featuring on Channels Television’s Sunday Politics. She said, “As an immediate intervention of the government and the NYSC as […]

The Economic Community of West African States, ECOWAS has urged the Senegalese authorities to urgently schedule a new date for the country’s presidential elections that was earlier postponed. The ECOWAS Commission made the appeal in a statement issued on its website on Sunday. Recall that the Senegalese President Macky Sall had on Saturday announced the […]

The Ekiti State Police Command on Sunday, at its headquarters in Ado-Ekiti, paraded one Baboga Alhaji suspected of his involvement in the killing of the two traditional rulers in the Ikole area of Ekiti State last week Monday. Briefing journalists, the AIG in charge of Ekiti, Dare Ogundare, said the suspect was arrested in the […]

The former governor of Yobe State, Bukar Abba Ibrahim, died at 73 on Sunday. He died in Saudi Arabia after a protracted illness, a source who preferred anonymity claimed. Ibrahim was the governor of Yobe State from May 1999 to May 2007. During his first term, on August 5, 1993, he split the state’s four […]

Over 500 workers at the National Hospital, Abuja (NHA), left the facility searching for greener pastures in the last two years, its chief medical director, Mahmud Raji, has disclosed. Mr Raji told journalists on Sunday in Abuja that most of them went abroad in search of better working conditions. “The way they leave is a […]