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NGX Gains N144bn as FBNH Sees Large Trade Volume Starting the week with bullish sentiment, equities market capitalisation of the Nigerian Exchange (NGX) ballooned Monday as banking, and industries stocks rallied.  The year-to-date was pushed higher to 27.4% as investors gained N144.23 billion. Using the ratio of gainers to decliners, market sentiment was mixed as […]

FCCPC to Prosecute PoS Operators for Price Fixing The Federal Competition and Consumer Protection Commission (FCCPC), has vowed to prosecute members of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) over collaborative service price fixing. In a statement, Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, was reacting to what appeared […]

Nigeria’s Imports Spending to Decline – Report Nigeria’s total imports would decline by 6.7% in 2023 following the devaluation of the naira devaluation and an expectation that Dangote Cement would begin to release output to the market in the latter part of the year. In its macroeconomic report on Nigeria, Fitch Solutions said when the […]

Vice Chancellors Hail Dangote’s Impact on Nigeria’s Agricultural Revolution President of Dangote Group, Aliko Dangote has been hailed as a foremost entrepreneur whose laudable interventions in the agricultural sector in Nigeria should be applauded and emulated by others. Many Nigerian University Vice Chancellors, under the auspices of the Committee of Vice-Chancellors at the Dangote Fertiliser […]

GCR Affirms Dangote Cement AA+ Rating GCR Ratings (GCR) has affirmed the national scale long-term and short-term Issuer ratings of AA+(NG) and A1+(NG) respectively accorded to Dangote Cement Plc (DCP). The top-notch ratings surface as Dangote Plc announced the successful completion of its share buyback tranche, Concurrently, GCR has affirmed the national scale long-term Issue […]

Big Banks Combine Market Valuation Jumps to N4.11Trn The Nigerian big balance sheets deposit money banks’ combined market value has inched higher to N4.11 trillion, according to data from the local exchange tracked by MarketForces Africa.  Consequent to improved market sentiment, the banking index has jumped by 68.46% from the beginning of the year to […]

NGX Return Nears 27% as Investors Gain N1.33trn The Nigerian Exchange (NGX) stayed in the green with about N1.33 trillion gain over the last five trading sessions due to increased value hunting in the market. The local bourse year-to-date return has inched near 27% as a result of positive price movements across bellwether in the […]

The Central Bank of Nigeria (CBN) has updated the number of Bureau De Changes (BDCs) operating there, confirming 5,687 operating licenses. The CBN website has a list of BDCs in a publication titled, ‘Approved BDCs’, seen on the CBN website. The CBN on Wednesday said it would come up with a complete list of licensed […]

Amnesty International Nigeria has demanded a transparent coroner’s inquest on 103 slain EndSARS protesters for whom the Lagos State Government is planning a mass burial, saying the plans should be put on hold. This follows the emergence of a leaked memo addressed to the Lagos State Ministry of Health indicating that the State Government approved […]

Lawyers in the country including Senior Advocates of Nigeria (SANs) on Monday took turn to shower praises on former President Muhammadu Buhari for signing the Arbitration and Mediation Act, 2023. The singular act, according to them, is not only worth celebrating but also compelling to forgive the former president of any “sins” he might have […]

The National Agency for Food and Drug Administration and Control (NAFDAC) has warned on the sale of an unwholesome Mayonnaise brand called Whippy. It stated that following the receipt of a complaint by a consumer, it took random samples of the product for laboratory analysis, which showed unsatisfactory outcomes. The agency further stated that the […]

The Enugu State Magistrate court presided over by Magistrate Mrs N. Esso has remanded the embattled Councillor representing Umualor Ward in Isi-Uzo LGA of Enugu State, Hon. Maxwell Aluagbo for alleged embezzlement of One million, one hundred thousand naira, (N1,1m) meant for Internally Displaced Persons (IDPs) in his constituency. The Councilor was recently accused and […]