The Nigeria Deposit Insurance Corporation (NDIC), has alerted depositors and ex-staff (deposits) of defunct Peak Merchant Bank of its preparations to pay their first liquidation dividend. A press statement signed by the corporation’s Director, Communication and Public Affairs, Bashir Nuhu, indicated all affected depositors of the bank and former employees with deposits in the bank […]
Investment researchers at Bancorp Securities Limited, one of the leading investment research and consulting services providers in Nigeria, on Monday forecasted a flattish return on Nigerian Exchange broad performance this week as investors begin to position early in anticipation of the outcome of the Central Bank of Nigeria (CBN) Monetary Policy Committee’s meeting scheduled for […]
….Highlights Achievements So Far In Kano The national target to achieve 70% broadband penetration by 2025 is receiving renewed attention from the Nigerian Communications Commission (NCC), which promises 50 per cent before the end of 2023, the commission’s Executive Vice Chairman (EVC), Prof. Umar Danbatta, has assured. The promise was one of the highlights […]
The Nigerian National Petroleum Company Limited (NNPCL) weekend sealed an agreement with Indorama Petrochemicals Company Limited to deepen the implementation of Nigeria’s Nigasification strategy. According to the Group Chief Executive of the NNPCL, Mallam Mele Kyari, the initiative will help to unlock about $18bn revenue for Nigeria and also enable the parties to the deal […]
The Securities and Exchange Commission (SEC) Nigeria has reiterated its commitment to achieve 50 listing of Shari’ah-compliant products in the capital market with a combined market capitalisation of at least N5 trillion by 2025. The commission’s Director-General, Mr. Lamido Yuguda, who restated the commitment at a “Capacity Building Workshop for local Shariah Talent for Non-interest […]
The Nigerian Exchange (NGX) closed bullish at the end of Friday’s trading session as investors reversed the volatility that had characterized most of the day’s trading session with positive sentiments. As a result, the All-Share Index (ASI), the benchmark index for traded equtieis, rose by 0.09% to close at 67,395.74 index points as against 67,335.30 […]
The Nigerian equities market closed bearish at the end of Thursday’s trading session as investors sustain their profit taking sentiment based on the preceding day’s gain recorded in the bourse.. Consequently, the All-Share Index (ASI) depreciated –0.06% lower to close at 67,335.30 index points as against 67,378.88 index points recorded in the previous day’s trading […]
The African Export-Import Bank (Afreximbank) has released its consolidated financial statements and its subsidiaries’ for the half year ended 30 June this year, which reflected that the Group’s total balance sheet assets grew by 8% from US$27.9 billion as of 31 December 2022 (FY-2022) to approximately US$30.1 billion. A news report on the financial statements […]
The Nigerian Communications Commission (NCC) has approved the transfer of a 10MHz spectrum in the 2.6GHz spectrum band from OPENSKYS Services Limited (OS) to MTN Nigeria. It stated that approval of the 2.6GHz, which is designated for the deployment of terrestrial mobile broadband services, was conveyed to it by the regulatory commission on September 7, […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued letters of award to 42 companies/entities that were successful in the bid for 49 Flare Sites enlisted during the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) Auction process. The petroleum regulatory body confirmed the issuance of the letters of award via a press statement issued on […]