The Nigerian Exchange Group Plc (NGX Group) has reported N1.6 billion gross earnings for the first quarter (Q1) 2023, representing a 14.2% year-on-year (Y-o-Y) decline from N1.8 billion it posted in Q1 2022. The Group, in a statement issued on audited financial performance in the quarter under review, indicated that the decline in gross earnings […]
Following the failure of Michael Ukiye Diongoli and UK Dion Investment Limited to appear in court, the prosecution has applied to Justice Zainab Abubakar to issue a criminal summon to ensure the accused appears in court on June 19th for commencement of trial. When the matter came up for arraignment Tuesday, the defendant was not available in […]
The Nigerian Communications Commission (NCC) on Tuesday disclosed that it was aware of a fake LinkedIn account being attributed to its Executive Vice Chairman and Chief Executive Officer, Prof Umar Garba Danbatta, and warned the public not to use it as a communication channel for any reason. The commission, in a statement issued by its […]
Nigeria’s currency, the Naira slightly depreciated in its exchange rate for the US dollar by 0.14% on Tuesday at the parallel market to trade at an average of N741/$1, compared to its N740/$1 exchange value last Friday’s trading session. Available information from foreign exchange (FX) dealers at Wuse Zone 2 of the Federal Capital Territory […]
….Says BVN Enrolment Surges To 57Mn The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday disclosed that sundry initiatives by the apex bank to promote digital payment system in the country were achieving the desired results with ATM transactions volume surging by 99.76% between 2021 and this year. Emefiele, who made […]
The International Monetary Fund (IMF) has projected that Nigeria and other countries could lose an estimated $10 billion of foreign direct investment and official development assistance inflows to geo-political tensions. The IMF made this projection in its Country Focus on Sub-Saharan Africa (SSA) report published on Monday, indicating that the figure represented about a half […]
The Manufacturing Association of Nigeria (MAN) has reported that the capacity utilization in the real sector declined to 54.9% in the second half of 2022 from 59.0% recorded in the corresponding half of 2021 indicating 4.1 percentage points decline over the period. This disclosure was contained in a summary of the survey findings by the manufacturers’ […]
….. says MfBs’ licence revocation rumour is mischievous The National Association of Microfinance Banks (NAMB), the umbrella body for all licensed Microfinance banks (MfBs) in the country, has restated the commitment of the micro lenders to intensify their efforts to deepen financial inclusion as a strategic step to improve their contributions to the Nation’s […]
The Securities and Exchange Commission (SEC) Nigeria has opened the Regulatory Incubation (RI) programme for fintechs operating or seeking to operate in the Nigerian Capital Market. The capital market regulator, in a circular issued on April 28, 2023, stated that the RI portal would be opened from the date to 26th May this year and encouraged all […]
Trading on the Nigerian Exchange Limited closed positive on Friday amid buy and sell-off session dominated by the bulls thereby swinging the broad market’s indices up at the end of the session. Data from the Nigerian Exchange Group (NGX) on the day’s trading reflected that All Share Index (NGX ASI) and the Market Capitalization increased […]