Nigerian stock market dips 0.57% as investors part with N117 billion The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 3 basis points. The NGX ASI closed at 51,817.59 points to reflect a growth of 0.03% from the previous trading day and a Year-to-Date (YTD) return of 21.31%. Meanwhile, the ...

The lower legislative house, the House of Representatives said it would  investigate the petroleum products subsidy regime of the Federal Government from 2017 to 2021. The house came to the resolution following a motion moved by Rep. Ose-Ogun during Wednesday’s plenary in Abuja. In his motion, Rep Ose-Ogun revealed that as at 2021, over $7b in over 120m barrels of ...

Wema Bank Plc has concluded arrangement to commence its N40 billion rights issue to the existing shareholders of the bank in August. Wema Bank got shareholders nod at an Extraordinary General Meeting (EGM) to raise capital of up to N40 billion by way of a rights issue to the existing shareholders of the bank by issuing two new shares for ...

Anchor Insurance Company Limited has unveiled a cover for air travellers. It is known as Local Passengers’ Flight Welfare Scheme. Its Managing Director/Chief Executive Officer, Ebose Augustine Osegha, said the product also compensates lost wages during temporary or permanent disability. Ebose maintained that this insurance protection would be run in accordance with the stipulated regulations on obligatory personal accidents insurance ...

Top conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022, reporting a profit of N758.37 million, representing an 11.71% increase year on year. The company’s performance comes after a year of high inflation, during which consumers and businesses both had to contend with the rising cost of products and services. As ...

The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 50 basis points. The NGX ASI closed at 51,962.85 points to reflect a growth of 0.50% from the previous trading day and a Year-to-Date (YTD) return of 21.65%. Meanwhile, the market capitalization grew by N138.68 billion. At the close of the ...

The Federal Government has revealed that it has started the implementation of a N10 per litre sugar tax on carbonated sugar drinks and beverages which they say will help combat Non-communicable Diseases. The policy was introduced in the Finance Act which was signed into law by President Muhammadu Buhari on December 31, 2021, alongside the 2022 Appropriation Bill. This was ...

The trial of three former workers with the First Bank of Nigeria facing attempted fraud charges before a Lagos State Special Offences Court, Ikeja, continued on Wednesday. The defendants, Ozioma Ugorji, 35; Ugwu Emeka, 32; and Obike Chukwuka, 38, were arraigned by the Economic and Financial Crime Commission for allegedly attempting to steal N20bn from the bank. It was learnt ...

The Governor, Central Bank of Nigeria (CBN) Godwin Emefiele has said the introduction of e-Naira to Nigeria’s payment space will boost trade, investments and other economic activities in the country. Speaking yesterday on innovation in Nigeria’s payments system ecosystem, he said the registration for the eNaira hackathon, geared towards ideating innovative solutions for the newly launched digital currency, organised by ...

The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 56 basis points. The NGX ASI closed at 51,377.21 points to reflect a growth of 0.56% from the previous trading day and a Year-to-Date (YTD) return of 20.28%. Meanwhile, the market capitalization grew by N153.90 billion. At the close of the ...