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Wednesday, February 1, 2023

Nigeria’s Bond Return Slumps after DMO Raised N662.6bn

The average yield on the Federal Government of Nigeria (FGN) bond slumps by 11 basis points to 13.2%

Dangote, Sinoma Sign Agreement On new 6Mta Cement Plant

Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering t.

Oil Prices Steady Ahead of OPEC+, Fed Meetings

Oil prices were little changed on Wednesday, rebounding from the previous session's lows over signs..

Reps Approve Additional N1trn Loan for FG from CBN

Nigeria's house of representatives has approved President Muhammadu Buhari's request to borrow

Fresh stories

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Nigeria’s Bond Return Slumps after DMO Raised N662.6bn

The average yield on the Federal Government of Nigeria (FGN) bond slumps by 11 basis points to 13.2%

Dangote, Sinoma Sign Agreement On new 6Mta Cement Plant

Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering t.

Oil Prices Steady Ahead of OPEC+, Fed Meetings

Oil prices were little changed on Wednesday, rebounding from the previous session's lows over signs..

Reps Approve Additional N1trn Loan for FG from CBN

Nigeria's house of representatives has approved President Muhammadu Buhari's request to borrow

AfDB Approves $50m, €50m Credit for ECOWAS Bank

The Board of Directors of the African Development Bank Group, has approved a dual-currency Trade Finance

IMF Pegs Sub-Saharan Africa Economic Growth at 3.8%

The International Monetary Fund (IMF) says economic growth in Sub-Saharan Africa (SSA) is projected ...

Analysis

Flour Mills of Nigeria Sales Revenue Crosses N1 Trillion

Following its acquisition of Honeywell, Flour Mills of Nigeria (FMN Plc) has joined the trillion naira revenue gang

FCMB Boosts Profit by 56% to N32.6 Billion

It is a good start to the year as FCMB Group Plc bolstered its earnings performance in the financial year 2022

Jaiz Bank Grows Profit by 42% in 2022

Nigeria’s premier Islamic lender, Jaiz Bank Plc, grew its distributable profit by 41.56% in the financial year 2022

Ronchess Global Resources Posts N1.56bn Profit, Revenue Slumps

Ronchess Global Resources Plc, a Nigerian construction and real estate company, posted about N1.56 billion

Latest Business

ECONOMY

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Inside Africa

AfDB Approves $50m, €50m Credit for ECOWAS Bank

AfDB Approves $50m, €50m Credit for ECOWAS Bank

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The Board of Directors of the African Development Bank Group, has approved a dual-currency Trade Finance
IMF Pegs Sub-Saharan Africa Economic Growth at 3.8%

IMF Pegs Sub-Saharan Africa Economic Growth at 3.8%

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The International Monetary Fund (IMF) says economic growth in Sub-Saharan Africa (SSA) is projected ...
ECA, Afreximbank Develop Digital Platform to Secure Trade in Africa

ECA, Afreximbank Develop Digital Platform to Secure Trade in Africa

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The Economic Commission for Africa (ECA) and Afreximbank have developed a digital business-to-business ...

Investment

Yield Falls to 3.27% as Demand for Treasury Bills Rises

The average yield on Nigerian Treasury bills falls again as local investors continue to channel available funds

Nigerian Companies with Market Valuation Below N1bn

RT Briscoe, a holding company, is one of the small-cap stocks listed on the Nigerian Exchange worth N341.144 million ...

Oil Prices Steady Ahead of OPEC+, Fed Meetings

Oil prices were little changed on Wednesday, rebounding from the previous session's lows over signs..

Reps Approve Additional N1trn Loan for FG from CBN

Nigeria's house of representatives has approved President Muhammadu Buhari's request to borrow

NAMA Augments, Test runs Satellite Navigation System

In a bid to improve the accuracy, integrity, and availability of signal through augmentation of satellite ...

Private Sector Growth Momentum Declines, Employment Rises–PMI

The Nigerian private sector registered a slight loss of growth momentum in January, according to Stanbic IBTC

Financial Products

Yield Rises as Fund Managers Unpack Nigeria’s Bonds

The average yield on Federal Government of Nigeria (FGN) bonds spike on Thursday as fund managers

Nigerian Treasury Bills Yield Tumbles as CBN Rates Fall Rapidly

The average yield on Nigerian Treasury Bills continues to fall rapidly amidst a sustained rally ...

Nigerian Treasury Bills Yield Falls Sharply to 1.47%

With strong funds allocation into Nigerian Treasury Bills by investors, the average yield on instruments ...

Demand for T-Bills, FGN Bonds Rise amidst Rate Hike

The Nigerian local debt market was bullish following an increase in benchmark interest rate ...

Bonds Yield Jumps as Nigeria Seeks to Raise N1.2trn

In the secondary market, the average yield on Federal Government of Nigeria bonds spiked by 64 basis points as investors sold

FX Market Sees Sharp Decline in Dollar Inflows

With a bleak outlook in 2023, it has been tough getting an adequate supply of foreign currencies to conduct ...

Return on Nigeria’s 20-Year Bonds Jumps to 15.05%

Trading activities in the secondary market ended on a mixed note, albeit, with a bearish tilt as local

Nigeria’s Bond Yield Rises to 12.81% as Inflation Falls

Following selloff pressures in the secondary market, the average yield on Nigerian government bonds rises

NG-CARES: BOI Partners States on Disbursement of MSMEs Grants

The Bank of Industry says it has so far received over one million applications for the Nigeria COVID-19 Action...

NGX Rises by N174bn as MTNN, Zenith Bank Rally

The equities segment of the Nigerian Exchange (NGX) limited appreciates by about N174 billion on Thursday

FIN MARKET

Dangote, Sinoma Sign Agreement On new 6Mta Cement Plant

Dangote Industries Limited (DIL) has signed an agreement with China Sinoma International Engineering t.

Oil Prices Steady Ahead of OPEC+, Fed Meetings

Oil prices were little changed on Wednesday, rebounding from the previous session's lows over signs..

Reps Approve Additional N1trn Loan for FG from CBN

Nigeria's house of representatives has approved President Muhammadu Buhari's request to borrow

NAMA Augments, Test runs Satellite Navigation System

In a bid to improve the accuracy, integrity, and availability of signal through augmentation of satellite ...

Private Sector Growth Momentum Declines, Employment Rises–PMI

The Nigerian private sector registered a slight loss of growth momentum in January, according to Stanbic IBTC

NGX Rises as Investors Demand More Insurance, Industrial Stocks

The Nigerian Exchange appreciated on Tuesday following a sustained rally in the local bourse ...

NNPC Takes Over Addax’s Production Sharing Contract Assets

The Nigeria National Petroleum Company Limited (NNPCL) says it has taken over the operation of Production

BLOCKCHAIN

Bitcoin Tests $23,000 in Fresh Bull Run

There have been price uptrend in the cyrptocurrency market in the past few hours and the largest crypto asset...

Why Has Crypto Caught The Attention Of The Gaming Industry?

The gaming sector has long recognized the enormous potential of cryptocurrencies.

Bitcoin Hits $19,000 in Fresh Cryptocurrencies Rally

Bitcoin price spiked near $19,000 in the latest cryptocurrency assets rally after a long time of staying at the back

Coinbase Announces Plan to Dismiss 950 Workers

A cryptocurrency exchange, Coinbase Global said in a regulatory filing Tuesday that it plans to cut about 950...

Bitcoin, Ethereum Rally Ahead of US Inflation Data

Cryptocurrency traders will be looking carefully at inflation data this week after the soft jobs report ...

Cryptocurrencies Prices Drop after US Fed Minutes

Most major digital assets eased from their intraday highs late Wednesday afternoon, along with US equity...

Sam Bankman Fried in Court to Defend FTX Fraud Case

Ex-chief of bankrupted FTX cryptocurrency exchange, Sam Bankman-Fried will be in court ...

Bitcoin Climbs Near $16,800 in Dull Market

The price of Bitcoin (BTCUSD) inches higher moderately amidst tight trading activities in the cryptocurrency market

Fresh Controversy Rocks Jittery Crypto Market

As fresh controversy grips the cryptocurrency market, the scrutiny will ultimately help to shore up the sector

Bitcoin Drops Below $17K in Fresh Price Action

Bitcoin, (BTC:USD) the largest digital currency, have been making an uptrend in the latest rally ...

Japanese-Backed Crypto Exchange Bitfront Shuts Down

Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit...

Bitcoin Trades at $16,200 in Tight Crypto Market

Trading at the $16,000 -$16,500 range, the largest crypto asset by market capitalisation, bitcoin ...

Fintech

Alleged $9.6bn P&ID Scam: Court Orders Arrest of Another Foreigner Corrado Fantoli

A Federal High Court, Abuja, on Thursday, ordered the arrest of one of the alleged brains behind the Process ...

FairMoney Partners Oradian to Accelerate Growth

 FairMoney, the leading credit-led digital financial institution in Nigeria, engages cloud banking solution

Flutterwave Enables eNaira as Payment Option for Businesses

Fintech company, Flutterwave, has added Nigeria's eNaira as a payment option for merchants

Ecobank Opens Application for Fintech Challenge with $50,000 Grant

Pan-African banking group, Ecobank Group, has launched the fifth edition of the Ecobank Fintech Challenge...

Koolboks Raises $2.5m to Scale Solar Refrigeration in Africa

Koolboks, a renewable energy company providing accessible cold storage solutions to businesses