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Standard Bank Rating Slides to Speculative with Negative Outlook Fitch Ratings has affirmed Standard Bank Group Limited’s (SBG) and its main operating subsidiary the Standard Bank of South Africa Limited’s…
Nigerian States’ Ratings Challenged by Own Revenue Generation Nigerian states’ framework of fiscal rules is evolving, due to their limited own revenue-generation capacity and developing debt and liquidity-management regulations and…
Stock Market Lost N49 Billion as Investors Reactivate Selling Mood The Nigerian stock market lost more than N49 billion as investors reactivate selling mood midweek, which consequently pullback yesterday’s gains…
Ardova Raised N25.3 Billion from Debt Capital Market Ardova Plc (AP) has announced the successful completion of the N25.3 billion Series 1 Fixed Rate Senior Unsecured Bond issue under its…
Price of Cooking Gas Spikes in October, Says NBS The average price for the refilling of a five kilogram (5kg) cylinder for Liquefied Petroleum Gas otherwise known as Cooking Gas…
Federal, States and Local Govts. Share N671.9 Billion in October On Wednesday, the Federal Government, States and Local Government Councils (LGCs) shared N671.910 billion as Federation Accounts Allocation Committee (FAAC)…
Orjiako to Step Down as Chairman of Seplat Energy Dr. A.B.C Orjiako has informed Seplat Energy Plc of his decision to step down as Chairman and from the company board…
IHS Signs Telecom Tower Acquisition Sale/Lease Back Contract with MTN IHS Holding Limited, one of the largest independent owners, operators, and developers of shared telecommunications infrastructure in the world by…
Fidelity Bank Credit Ratings Improve as Outlook Upgraded to Stable • Two Largest Exposures Breach 20% Single Obligor Limit • Top 20 Obligors Account for 47.2% of Gross Loans GCR…
Afreximbank Signs $1.04bn Petroleum Exploration Deal with NNPC The African Export-Import Bank (Afreximbank) has signed a $1.04 billion dollar facility with the Nigerian National Petroleum Corporation (NNPC) to finance oil…
Lawmakers Query Securities and Exchange Commission over Spending The Nigerian lawmakers have queried the capital market regulators, the Securities and Exchange Commission (SEC) for spending N6 billion out of its…
Dark Clouds Gather over Nigeria’s Bloated Debt despite Fiscal Slippage Uncertainties lie ahead as some analysts continue to express discomfort at the spate of borrowings in Nigeria. Nigeria’s rising debt…
Shell Plans Share Structure Change to Boost Competitiveness, Payouts Royal Dutch Shell unveiled on Monday a proposal to strengthen competitiveness and accelerate shareholder distributions, with the move coming less than…
AIICO, Fidelity, Honeywell and MTNN Drive Mid-day Loss The equity market is currently trading on a bearish note following contractions in FIDELITYBK (-0.37%), UCAP (-0.52%), AIICO (-0.78%), WEMABANKN (-2.33%), HONYFLOUR…
Headline Inflation Rate Slides to 10-Month Low Nigeria’s headline inflation rate slowdown 64 basis points to a 10-month low, the lowest since January 2021 according to the latest data released…
CBN Grants Airtel Africa Approval for Super Agent Licence The Central Bank of Nigeria (CBN) has granted Airtel Mobile Commerce Nigeria Ltd., a subsidiary of Airtel Africa, approval in principle…
U.S Dollar Modestly Lower on Monday Ahead of Economic Data The U.S dollar was slightly lower against its major trading partners early Monday ahead of a busy week of top-tier…
Iranian Hackers Infiltrating Telecoms, ISPs, NCC Alerts Nigerians The Nigerian Communications Commission (NCC) has alerted the public of the existence of another hacking group orchestrating cyber-espionage in the African telecoms…
Yields on Fixed Income Instruments Slowdown as Inflation Drops Yields on fixed income instruments slowdown on Monday as Nigeria’s headline inflation drops for the seventh consecutive months. According to analysts…
NGX Trades Negative as Investors Pullout from Banking Stocks The Nigerian Exchange (NGX) records a negative start to the week as equity investors dumped banking stocks, thus driving market capitalisation…
