admin

The 7th elected governor of Imo State, Sen. Hope Uzodimma, has been sworn in along with the Deputy Governor of Imo State, Mrs Chinyere Ekomaru. The Governor elected under the APC political platform was sworn in around 3.23 pm, while the Deputy Governor took the oath of office around 3.08 pm on Monday Both the […]

President Bola Tinubu, on Monday, assured Nigerians not to be bothered about the mass exodus of skilled workers from the country, assuring the citizens that the Federal Government in collaboration with sub-nationals will train more persons to fill the professional gap now conspicuous in health, tech and other sectors. The President spoke in Owerri, the […]

By Lasisi Olagunju A gentleman strolled into my office sometime ago and gave his surname as Adamasingba. In my almost thirty years in Ibadan, I had identified the name ‘Adamasingba’ solely with a stadium in the city. I never knew there was a family in Ibadan – or anywhere in Yoruba land – with that […]

A Federal High Court in Abuja has ordered the remand of Suleiman Dabo, immediate-past member of Kaduna State House of Assembly (Zaria Constituency) in Kuje prison pending a ruling on his bail application. Justice James Omotosho issued the order on Monday, January 15, after Dabo was arraigned on a seven-count charge brought against him by […]

Despite the abundant human resources and huge potential the nation’s business space offers individuals and investors, only 23 businesses doing business in Nigeria are said to be crossing the $1 billion revenue mark, annually. Special Adviser to the President on Presidential Enabling Business Environment Council (PEBEC), Dr. Jumoke Oduwole, made the disclosure at the First […]

Transcorp Hotels Records Significant Valuation Surge, Hits N1.022Trn Transcorp Hotels is booming as the hospitality company’s 10 billion shares outstanding have increased in value, crossing N1 trillion on Friday. MarketForces Africa reported on Sept 24 that the hospitality giant was valued at N470.132 billion over its 10.242 billion outstanding shares at a unit price of […]

DMO, CBN Raise N7.5Trn from Bonds, Treasury Bills Sales in 2023 In 2023, borrowing activities gained traction in the local debt capital market as interest costs on Eurobond borrowings became steep due to sustained interest rate hikes by foreign central bankers in developed economies. Local borrowing activities then gained traction as the Nigerian government recorded […]

Naira Skids as FX Market Sees 4% Decline in USD Supply The naira exchange rate depreciated by 1.80% to close at N890.54 per US dollar at the Nigeria Autonomous Foreign Exchange Market, data from the FMDQ platform revealed. This is coming after the FMDQ report revealed the forex market inflow dropped by 4% in December […]

Tier-1 Banks Shrink to N5.8Trn as Investors Rebalance Portfolios The combined market value of Nigerian Tier-1 banks declined as equities investors’ mood shifted ahead of the fourth quarter 2023 earnings festival. Access, Zenith, UBA, FBNH and GTCO share prices declined week on week, market data tracked by MarketForces Africa revealed. From more than N6.132 trillion […]

Economic Cracks to Restrict Banks from Growing Loans -Analysts Nigerian deposit money banks (DMBs) are expected to record a slowdown in loan growth in the financial year 2024 due to sustained performance-threatening macroeconomic issues facing the economy.   This expectation is in contrast to market development in the financial year 2023, details from CardinalStone Partners’ banking […]

Cadbury Nigeria Jumps 42% after Debt for Equity Notice Market Wrap: Fast moving consumer goods giant Cadbury Nigeria Plc’s market valuation increased by about 42% due to strong buying interest following management’s decision to convert debt owed to its parent company to equity. At the end of the trading session on Friday, the market placed […]

Jaiz Bank Soars By 52% in 9-Day Jaiz Bank Plc (Ticker: JAIZBANK) shares rallied by about 52% from the beginning of the year to date (YTD) which is 9 days as a result of positive price movement in the non-interest lender’s stock. The positive movement was attributable to notable volume with a higher number of […]