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Stock Market Value Declines as Banking Index Dip The Nigerian stock market value declined by about N28 billion midweek as selloffs in Tier-1 Banks shares pushed the banking index down by 3% amidst corporate earnings releases, halting the previous day’s rally. Stockbrokers told MarketForces Africa that the negative outing was driven by investors’ huge profit-taking […]

Oil Jumps Over Big Drawdown in U.S. Inventories The global oil market rallied midweek over a massive drawdown in US crude inventories and tighter supply from producers. According to trading records, U.S. crude futures finished higher for a fifth consecutive session. Its price surged by 0.6% at $81.63 a barrel following an EIA report that […]

Lagos NUJ Honours Dangote as Highest Private Employer in Nigeria It was a night of accolades for Africa’s foremost business conglomerate, Dangote Industries Limited, (DIL), as journalists in Lagos State conferred an award of excellence on the Group for its outstanding contributions to the economic development of Nigeria and Africa in general. The award, according […]

Companies Hire for Roles to Lead Digital Initiatives Companies were seen posting a significant number of jobs with roles to drive their digital initiatives such as digital ultrasound services, artificial intelligence (AI)-enabled digital products, and remote software management in Q2 2023, according to Job Analytics Database of GlobalData, a leading data and analytics company. GlobalData’s […]

Akwa Ibom Shuts Down Illegal Chinese Mining Company The Akwa Ibom Government has closed down a Chinese mining firm, Ruitai Mining Company, for failing to produce an operation licence. Chief Uno Etim Eno, the state’s Commissioner for Environment and Mineral Resources, Chief Uno Eno, said this when he briefed newsmen in Uyo. Eno said that […]

CardinalStone Sets N1,988.64 Target Price for Seplat Energy Nigeria’s top investment firm, CardinalStone Securities Limited, has set N1,988.64 12-month target price for Seplat Energy, saying this price expectation does not consider the impact of the Mobil Producing Nigeria Unlimited (MPNU) acquisition. The investment firm estimate was anchored on the energy company reference price of N1,670.80. […]Read More

Gabonese Military Officers Depose President Ali Bongo Gabonese military officers have cancelled election results and dissolved state institutions, claiming they have taken power, local media reported on Wednesday. The African country’s borders are closed until further notice, said the reports, adding gunfire was heard in the capital Libreville. The officers said that the general election […]

Transcorp Hotels Rises to N428bn over Demand for Shares Transcorp Hotels Plc rose to N428 billion on Tuesday in the equities market due to increased demand for its shares. Transcorp Hotels Plc stocks have become not just popular but expensive as the hospitality company continue to gather earnings momentum. Inside dealing in the company stock […]

The Minister of the Federal Capital Territory, Nyesom Wike, addressed the ongoing controversy surrounding his political allegiance during an exclusive interview on Channels Television’s Politics Today program on Wednesday. He clarified that his focus lies with President Bola Tinubu and not the All Progressives Congress (APC). Wike firmly stated, “I am not working for APC. […]

Chief Patrick Eholor and Thomas Markus, represented by the Incorporated Trustee of Concerned Nigerians, have taken legal action against President Bola Tinubu and the Federal Government in the Abuja Federal High Court. The lawsuit pertains to the alleged illegal appointment of Ms. Hannatu Musawa as a Federal Minister while still performing her mandatory one-year National […]

Clement Ugo Chukwuemeka Shares Insights on Period Leading to AGC In a comprehensive report presented during the AGC – PRE-NEC 2023, Clement Ugo Chukwuemeka, the 2nd Vice President of the Nigerian Bar Association (NBA), shed light on the activities and observations during the period leading to the event. Chukwuemeka outlined his experiences and insights, highlighting […]

The New Nigeria People’s Party (NNPP) has said that the alleged suspension of its national leader, Rabiu Kwankwanso, was a joke taken too far. The party said that those who met in Lagos and announced the suspension of Kwankwanso for three months were persons who were no longer members of the party, having been expelled […]