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NNPC Reiterates Plan to Sell Shares The Nigerian National Petroleum Company Limited (NNPC Ltd) has restated plans to issue its Initial Public Offer (IPO) to investors very soon. The Group Chief Executive Officer (GCEO) of NNPC Ltd, Mele Kyari said this at the 22nd edition of the 2023 Nigeria Oil and Gas (NOG) Energy Conference […]

Meta Launches Avatar Video Calls on Instagram, Messenger Following successful of Threads, Meta Platforms said Tuesday people can now use their Meta Avatar in real-time video calling in Messenger and Instagram using Android or iOS. Competition among micro social blogging platforms has intensified with the successful launch of Threads, attracting more than 100 million users […]

Brent Jumps as Oil Market Rallies Ahead of U.S. Supply Data Global benchmark Brent oil settled at its highest level since late April following several supply cut announcements by OPEC+ members, including Saudi Arabia in recent weeks. Some analysts believe the recent rise could be a sign that prices are heading even higher, with Brent […]

Nigeria Sells Bonny Light, Qua Iboe Crude at Premium Offers for light sweet Nigerian crude continued to climb Tuesday as fuel demand in Europe and the United States rose on the back of the summer driving season. Traders said that Bonny Light and Qua Iboe crude were offered for around dated Brent plus $2.40, with […]

Ecobank Asks FBN Holdings to Reject Otudeko’s Shares Purchase Ecobank Nigeria Limited has written FBN Holdings Plc, the parent company of First Bank of Nigeria Limited, to stay action on 4.77 billion shares purchased by the Chairman of Honeywell Group, Dr. Oba Otudeko. The Nigerian subsidiary of Ecobank Transnational Incorporated told FBN Holdings it will […]

Futureview Analysts Place Banking Stocks on Sell Radar Despite the fact banking stocks have become popular among alpha seekers in the stock market, equities research analysts at Futureview Financial Services Limited have taken a rather bearish position with sell, or at best hold ratings for some of the Nigerian lenders. Yesterday, the Nigerian Exchange (NGX) […]

Naira Gains 4.4% over Strong Non-Bank Corporates Inflow After significant downward pricing, the Nigerian naira saw a sharp appreciation on Monday against the dominant US dollar as demand for imports was met with sizeable foreign currency supply in the market. Data from FMDQ Exchange indicated that the naira appreciated by 4.4% to N744.07 per US […]

CardinalStone Sees 47% Upside in Ecobank Equities research analysts at CardinalStone Partners Limited have estimated a 47% upside potential in Ecobank Transnational Incorporated (ETI) on an expected spike in earnings per share and steady dividend payment in 2023. Following a rally in the stock market on Monday, the Pan African lender (Ticker: ETI) crossed N310 […]

The Acting Comptroller General, Wale Adeniyi of the Nigeria Customs Service, has clarified that not all borders in the country have been reopened, and a thorough review process is currently underway. He disclosed this to State House correspondent on Tuesday after meeting with President Bola Tinubu at the Presidential Villa. According to him, while selected […]

*Says 70% of Population Without Access To Clean Cooking Oil, 50% With Access To Electricity The Group Chief Executive Officer (GCEO), NNPC Limited, Mallam Mele Kyari, on Tuesday, declared that energy is not available in Nigeria as over 70 percent of the population do not have access to clean cooking oil, while over 50 percent […]

Former Minister of State for Labour and Employment, Festus Keyamo said the reason South-East elites are not speaking up against killing of their own people in the East is the fear of reprisal attacks against their own properties and family members back ‘unknown gunmen.’ Keyamo stated this in a statement via his verified Twitter handle […]

The ECOWAS Court has awarded N60 million damages against the Federal Government of Nigeria to Sunday Ayodeji whose leg was amputated following a gunshot by a police officer in Kaduna State. The Nigerian government was also ordered by the Court to internally investigate the human rights breach of Ayodeji. The ECOWAS Court in the judgement […]