Trading activities on the Nigerian equities market ended bearish on Tuesday as sell-off persists in major blue chip stocks. Consequently, The Nigerian Exchange Limited (NGX) All Share Index (NGX ASI) and the market capitalization decreased by 0.69%, while the Year-to-Date (YTD) return stood at 16.22%. According to information provided by the market regulators, the All Share Index […]
European Investment Bank (EIB) has expressed its readiness to collaborate with African governments on accelerating climate adaptation in the continent. The EIB President, Werner Hoyer, made the promise at the Africa Adaptation Summit, the first-ever global summit to focus solely on accelerating climate adaptation in Africa organized by the Global Center on Adaptation (GCA), in […]
The President of African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has projected that Africa would require between $100 billion to $127 billion yearly between now and year 2030 to bridge climate change financing gap in the continent. The AfDB President, who gave these figures on Monday in his paper delivered at the Africa Climate […]
The Nigeria Export Processing Zones Authority (NEPZA) on Monday disclosed that it had opened discussions with crypto exchange, FX Binance, for the purposes of creating a virtual free zone for blockchain development in the country. The authority’s Managing Director, Prof. Adesoji Adesugba, was quoted as confirming that already preliminary meetings with the cryptocurrency exchange team […]
Researchers at Bancorp Securities Limited, one of Nigeria’s economic research and consulting firms, have projected continued doused momentum in the nation’s equities market but then expect investors to marginally gain driven following the release of some of the major banks’ H1’ 2022 earnings. The experts, in the firm’s ‘Weekly Strong Recommendations: Sept 5th –Sept 9th […]
The The World Bank Group (WBG) has expressed its readiness to help in increasing assistance to Nigeria’s poor and vulnerable. Nigeria’s Vice President, Prof. Yemi Osinbajo, in a tweet on Friday, said he met with WBG President, David Malpass, and discussed a wide range of issues relating to climate, energy, investment, exchange rate, and poverty […]
The Central Bank of Nigeria (CBN) has granted Flutterwave, one of Africa’s fastest growing digital payment services company, a Switching and Processing Licence for offering transaction switching and card processing services to customers. With the apex bank’s approval, the company can also provide non-bank acquiring, agency banking and payment gateway services to customers in the […]
Lagos State and the Federal Capital Territory (FCT) accounted for about 92.23% of capital importation into the Nigerian economy totaling US$1.535.35 billion in the second quarter of 2022, the National Bureau of Statistics (NBS) has reported. From the total value of imported capital in Q2, analysis on state-by-state basis showed that Lagos State topped the […]
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has disclosed that Nigeria will end importation of Premium Motor Spirit (petrol) by the middle of 2023. The NNPC boss hinged the projection on the gradually improving crude oil refining capacity of the nation’s refineries as well as […]
A member of the Central Bank of Nigeria (CBN) Monetary Policy Committee, Dr. Mo’ Omamegbe, has projected that Nigeria’s surging inflation will further devalue the exchange rate of the Naira as cost of producing import-dependent products continues to rise month-on-month in the country. Omamegbe, who is a former Head of Strategy Securities and Exchange Commission […]