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NGX Slumps as FX Losses Dent Corporate Earnings The equities segment of the Nigerian Exchange (NGX) declined further on Tuesday as investors continue to pull back amidst unimpressive, FX losses dented earnings performance. Equities investors have been rushing for the door as huge fx losses dent corporate earnings. Stock market movers saw their earnings impacted […]

AMCON, NFIU Crucial Agencies for Nigeria’s Financial System Stability – Justice Tsoho The Asset Management Corporation of Nigeria (AMCON) and the Nigerian Financial Intelligence Unit (NFIU) have again been described as some of the two most important and indispensable agencies of the federal government of Nigeria especially as it relates to the stability of the […]

Bond Yield Mixed as Market Weighs Inflation Concern Amidst concerns about continuous inflation rate jumps, the Nigerian local bond market traded on mixed sentiments. Yesterday, investment analysts and fixed income traders saw demand at the head of the curve and offer at the tail of the curve. The market recorded buying interest, particularly in the […]

Ecobank Diversified Business Model, Customers Service Drive Balance Sheet Resilience –CEO The CEO of Ecobank Group, Jeremy Awori, has attributed the group’s profitability in the second quarter of 2023 to its strategic roadmap which demonstrated the benefits of its diversified business model, resilient balance sheet and commitment to serving its customers. Awori stated this while […]

Analysts Queue Behind Fidelity Bank After Earnings Beat Equities analysts have recommended Fidelity Bank Plc as a stock to buy following its latest earnings beat. The bank’s performance rode on interest rate hikes, and liberalisation of the naira to boost its bottom line. There was pressure from impairment charges, but this was washed off by […]

Nigerian T-Bills Yield Hits 7.12% after Rate Hike The average yield on Nigerian Treasury bills rose marginally on Monday due to early exit trade by some fund/asset managers seeking to optimise their portfolio returns. Even with the bearish tilt, local deposit money banks held back as they maintained balanced liquidity pressures. At the beginning of […]

Business Confidence Slumps as Price Pressures Rise–PMI The removal of the fuel subsidy in Nigeria caused a sharp strengthening of price pressures in June, the S&P Stanbic IBTC purchasing manager index said, causing private sector business confidence to hit yet another bump.  As a result, rates of expansion in output and new orders softened but […]

The Secretary-General of the Federation Internationale de Football Association (FIFA), Ms Fatma Samoura has told Super Falcons of Nigeria that it is because of players like them that FIFA decided to pay prize money directly to players. The FIFA secretary general who addressed the Super Falcons after their 0-0 draw with the Republic of Ireland […]

Senate President Godswill Akpabio on Tuesday highlighted the need for the National Assembly to revisit the legislation behind the Central Bank of Nigeria (CBN). Akpabio made the assertion during ministerial screening at the Senate following nominee Adebayo Adelabu’s request for new laws instilling oversight of the apex bank amid recent “controversial” decisions that appeared to […]

Several senior military officers have been arrested in Sierra Leone, after weeks of political instability following the conclusion of presidential and general elections held on 24th of June 2023. According to a statement published by the police yesterday, the senior military officers were among several people arrested and detained by the police, suspected of plotting […]

Access to justice at the grassroots has been strengthened following the swearing in of 182 customary court members to serve in the 31 local government areas of Akwa Ibom State. Administering the oath of office, the state Chief Judge, Ekaette Obot urged the customary court members to exhibit a high level of integrity and fairness […]

A Federal High Court sitting in Lagos has granted permission to the Speaker of the Ogun State House of Assembly, Hon. Olakunle Oluomo, and two others, to travel abroad for medical checkups. Justice Nicholas Oweibo granted the order following a Motion Exparte application dated and filed on July 26, 2023, seeking the permission of the […]