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FBNH Halts Uptrend, Loses 22% to Market Correction Reversing the previous trend, FBN Holdings plc saw a significant market valuation loss of 22% in a week after the group announced large shares purchase by Honeywell Group Plc.   Betting large on the Holdco, Oba Otudeko, who was a former chairman of FBN Holdings, and chairman […]

Fidelity Bank Loses 25% of Its Market Value Fidelity Bank Plc lost a quarter of its market value in a week due to investors’ weak sentiment. At the close of the trading session for the week, the Tier 2 bank was priced down to N194 billion ahead of its second quarter of 2023 earnings release. […]

Putin Threatens to Retaliate with Cluster Bombs if Ukraine Uses U.S. Munitions Russian President Vladimir Putin threatened to retaliate with cluster bombs if Ukraine uses U.S.-supplied munitions against his forces, according to a television clip released by Russian state television on Sunday. Putin issued a warning to Ukraine not to deploy the largely internationally outlawed cluster munitions […]Read More

Naira Loses N27 in Organised Market, BDCs Sell Dollar N815 The Nigerian naira crossed another fresh red line in 2023 as foreign currency demand outpaced the United States (U.S.) dollar supplied to the organised market or the investors, and exporters window amidst a sustained FX shortage in the local economy. Down by N27 on each […]

Geregu Power Jumps to N825bn After Earnings Release After staying quiet over a long period, Geregu Power Plc has resumed a fresh uptrend as its market valuation hits N825 billion on Friday despite a bearish outing in the local bourse. In a regulatory filing, the company announced it made more than N8 billion in profit […]

Access Bank Plc Loses 20.3% After Acquisition Notice Access Holdings Plc lost more than 20% of its market value to selloffs in the local bourse following a move to acquire Standard Chartered Bank shares in some banking subsidiaries across African markets. After a record loss in the week, at the close of the trading session […]

Liquidity: CBN Crashes Treasury Bills Rates Further The Central Bank of Nigeria (CBN) sold Treasury bills instruments to fixed income investors at lower rates as the financial system maintains a relatively healthy liquidity. The decline in spot rates on rollover bills has been consistent in the past auction conducted by the apex due to a […]

Nigerian Exchange Struggles to Keep Uptrend, Loses N256bn The equities segment of the Nigerian Exchange (NGX) declined by more than N256 billion due to profit-taking activities that spread over trading sessions in the local bourse last week. For three days out of the five trading days, the stock market witnessed strong selling rallies, resulting in […]

CBN Sets Fresh Limits on Shareholdings, Insider Loans in Banks The Central Bank of Nigeria (CBN) has raised the bar on banking regulation in reaction to an apparent breakdown in corporate governance in some large balance sheet financial institutions in the country, including smaller ones. The apex bank’s move to implement the code of corporate […]

*Ask Him To Perish Idea To Give N8,000 To Poor Bishops of the Methodist Church Nigeria have asked President Bola Tinubu to ensure his governance style is a clear departure from that of former president, Muhammadu Buhari, if he intends to succeed. They also want him to consider formation of state police to deal with […]

*Seeks Judicial Intervention, Proper Scrutiny Of Presidential Election Results Bishop Emeritus of the Catholic Archdiocese of Abuja, Cardinal John Onaiyekan, has described the 2023 elections, particularly the presidential polls, as the worst in Nigeria’s history. According to Onaiyekan, “There have been previous instances of flawed elections, but what we witnessed in the last election is […]

The Labour Party and its governorship candidate in the March 18 governorship election in Enugu State, Chijioke Edeoga have officially closed their case against the election that produced Peter Mbah of the Peoples Democratic Party the governor. Edeoga and his party are challenging the election of Mbah of the Peoples Democratic Party insisting that it […]