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Wednesday, February 21, 2024

Senate to Investigate Cement Producers Sudden Price Hikes 

The Senate has resolved to investigate the sudden hike in the price of cement by its producers in Nigeria. This followed the adoption of a point of order by the

Nigerian Bourse Rises by N165bn as FBNH, BUA Rally

The Nigerian Exchange (NGX) equities market capitalisation climbed again on Wednesday as investors increased their interest in FBN Holdings and BUA cement stock

Sanlam General Insurance Surpasses 2023 Revenue by 131% – MD

Sanlam General Insurance, on Wednesday, said it surpassed its 2023 revenue budget of N13.5 billion by 131 per cent and income by almost 100 per cent.

Senate Urges FG to Stop Planned Increase in Electricity Tariff via Subsidy Withdrawal

Senate has urged the Federal Government to stop its planned increase of electricity tariff via the planned withdrawal of electricity subsidy.

Fresh stories

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Senate to Investigate Cement Producers Sudden Price Hikes 

The Senate has resolved to investigate the sudden hike in the price of cement by its producers in Nigeria. This followed the adoption of a point of order by the

Nigerian Bourse Rises by N165bn as FBNH, BUA Rally

The Nigerian Exchange (NGX) equities market capitalisation climbed again on Wednesday as investors increased their interest in FBN Holdings and BUA cement stock

Sanlam General Insurance Surpasses 2023 Revenue by 131% – MD

Sanlam General Insurance, on Wednesday, said it surpassed its 2023 revenue budget of N13.5 billion by 131 per cent and income by almost 100 per cent.

Senate Urges FG to Stop Planned Increase in Electricity Tariff via Subsidy Withdrawal

Senate has urged the Federal Government to stop its planned increase of electricity tariff via the planned withdrawal of electricity subsidy.

Fitch Affirms Kenya at ‘B’ with Negative Outlook

Fitch Ratings has Kenya's credit ratings at 'B' with an outlook accorded as negative, reflecting the sovereign's large funding needs, ongoing risks to external

Namibia Keeps Interest Rate at 7.75%

Namibia's central bank left its key lending rate steady at 7.75% on February 14th 2024, holding borrowing costs at the highest level since April 2019 for the

Analysis

Fitch Keeps FCMB on Rating Watch Negative Again

Fitch Ratings said it has again kept First City Monument Bank's (FCMB) credit rating under rating watch negative

Jumia Reduces Pretax Loss by 52% to $99m

The leading pan-African e-commerce platform. Jumia, posted a 52% year-on-year decline in pretax loss to $99 million

Geregu Power Grows Investors Funds Six Folds in 17-Month

Risk-taking is billionaire Femi Otedola's secret sauce. For his kind, a simple way to build and maintain wealth is investing. You don’t envy him if you are risk

Meyer Plc Records 61% Increase in Market Value

Premium paint and allies products manufacturer, Meyer Plc, registered a sharp gain due to exceedingly stable positive price movement despite a slowdown in marke

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ECONOMY

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Inside Africa

Fitch Affirms Kenya at 'B' with Negative Outlook

Fitch Affirms Kenya at ‘B’ with Negative Outlook

0
Fitch Ratings has Kenya's credit ratings at 'B' with an outlook accorded as negative, reflecting the sovereign's large funding needs, ongoing risks to external
Namibia Keeps Interest Rate at 7.75%

Namibia Keeps Interest Rate at 7.75%

0
Namibia's central bank left its key lending rate steady at 7.75% on February 14th 2024, holding borrowing costs at the highest level since April 2019 for the
Fitch Keeps Mozambique Ratings at CCC+

Fitch Keeps Mozambique Ratings at CCC+

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Fitch Ratings kept Mozambique's sovereign credit rating at 'CCC+', reflecting elevated government debt levels, weak public financial management, low GDP per

Investment

Odu’a Investment Plans to List on Nigerian Exchange

Odu’a Investment Plans to List on Nigerian Exchange Odu’a Investment...

Equities Market Cap Jumps by N313bn to N45.20Trn

Equities market capitalisation inched higher by more than N313 billion on Thursday to N45.2 trillion ...

Sanlam General Insurance Surpasses 2023 Revenue by 131% – MD

Sanlam General Insurance, on Wednesday, said it surpassed its 2023 revenue budget of N13.5 billion by 131 per cent and income by almost 100 per cent.

Senate Urges FG to Stop Planned Increase in Electricity Tariff via Subsidy Withdrawal

Senate has urged the Federal Government to stop its planned increase of electricity tariff via the planned withdrawal of electricity subsidy.

Adeleke Launches N3.4bn Revolving Cooperative Loan Scheme

Gov. Ademola Adeleke of Osun on Wednesday launched the “State Special Ward Level Cooperative Loan Programme”, with the aim of providing N3.436 billion revolving

EFCC Arrests ‘Pilot’ Over Alleged N1bn Fraud

EFCC has arrested a suspect who claimed to be a pilot for allegedly collecting N1.02 billion in Kaduna under false pretence.

Financial Products

Ecobank SuperSavers Account Holders Get Up to 9% Interest Rate

Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African banking group ...

Nigerian Bourse Rebounds with N902bn Daily Gain

Bulls stage comeback into the Nigerian Exchange (NGX), gaining N902 billion after two days bloodbath ....

Yield Climbs as CBN Increases Rates on Treasury Bills

The average yield climbed as the Central Bank of Nigeria (CBN) increased spot rates on Nigerian Treasury Bills auctioned ...

Selloffs Provoke Spike in Nigerian Treasury Bills Yield

The average yield on Nigerian Treasury bills increased by 11 basis points to 3.4% following selloffs ....

Odu’a Investment Plans to List on Nigerian Exchange

Odu’a Investment Plans to List on Nigerian Exchange Odu’a Investment...

Nigeria’s Sovereign Eurobond Yield Dips Below 10%

Due to strong buying interest, Nigeria’s sovereign Eurobond yield has dipped below 10%, according to an investment

Benchmark Yield Shrinks as Bonds Market Rallies

The average yield on Federal Government of Nigeria (FGN) bonds shrank in the secondary market as

Equities Investors Combine Wealth Grows to N44Trn -NGX

The Nigerian Exchange (NGX) All-share index hit an all-time high as a result of sustained bargain hunting ...

Sanwo-Olu Inaugurates N750m Market Transfer Money in Lagos

Sanwo-Olu Inaugurates N750m Market Transfer Money in Lagos Gov. Babajide...

NGX Gains N85bn as Investors Park Cash in Banking Stocks

As equities investors continue to grow, the equities market capitalisation of the Nigerian Exchange

FIN MARKET

Nigerian Bourse Rises by N165bn as FBNH, BUA Rally

The Nigerian Exchange (NGX) equities market capitalisation climbed again on Wednesday as investors increased their interest in FBN Holdings and BUA cement stock

Sanlam General Insurance Surpasses 2023 Revenue by 131% – MD

Sanlam General Insurance, on Wednesday, said it surpassed its 2023 revenue budget of N13.5 billion by 131 per cent and income by almost 100 per cent.

Senate Urges FG to Stop Planned Increase in Electricity Tariff via Subsidy Withdrawal

Senate has urged the Federal Government to stop its planned increase of electricity tariff via the planned withdrawal of electricity subsidy.

Adeleke Launches N3.4bn Revolving Cooperative Loan Scheme

Gov. Ademola Adeleke of Osun on Wednesday launched the “State Special Ward Level Cooperative Loan Programme”, with the aim of providing N3.436 billion revolving

EFCC Arrests ‘Pilot’ Over Alleged N1bn Fraud

EFCC has arrested a suspect who claimed to be a pilot for allegedly collecting N1.02 billion in Kaduna under false pretence.

16 Vessels Waiting to Berth at Lagos Ports – NPA

The Nigerian Ports Authority (NPA) on Wednesday said 16 ships were waiting to berth at the Lagos ports. NPA in its Daily Shipping Position said seven of th

US Dollar Rises Ahead of FOMC Minutes

The US dollar rose against its major trading partners early Wednesday ahead of the release of weekly Redbook same store sales ....

Cryptocurrency

Bitcoin Rises to $51,800 as ETF Inflows Hit $4bn

The cryptocurrency market continues to inch higher as the price of the largest digital asset is getting close to $52,000

Tether USDT Swings on Volatile Price Movements in Crypto Market

Tether USDT Swings on Volatile Price Movements in Crypto Market

Bitcoin ETF Approval Acknowledges Cryptocurrency as Viable Asset Class

Cryptocurrency: The recent approval of the Bitcoin Exchange Traded Fund (ETF) has become a testament ...

Bitcoin Declines on Liquidated Short Positions

Bitcoin Declines on Liquidated Short Positions The world's largest crypto...

Bitcoin Price Jump Fuelled by Scandal Crackdowns, Central Bank Expectations

Bitcoin topping $40,000 is because - not despite - the recent scandals are clearing out the bad actors from the market, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organizations.

Bitcoin Spikes to $41, 700 as Crypto Assets Rally

The largest crypto asset, Bitcoin and other cryptocurrencies recorded significant gains early on Monday.

Bitcoin Moves Closer to $39,000 in Latest Bullish Run

Bitcoin price moved closer to $39,000 for the first time in over a year in a latest bullish in

Forex: US Dollar Lost Against Trading Peers

The US dollar fell against its major trading partners early Friday. The dollar bear was sustained after

Fintech

Flutterwave to Shutdown Creator Platform Disha on March 31

Disha, the no-code platform for creator platform acquired by Flutterwave in 2021

AfDB to Invest $10.5m in Seedstars Africa Ventures

The Board of Directors of the African Development Bank (AfDB) agreed on Wednesday that the Bank ...

Patricia Technologies Announces Plan to Repay Customers

Patricia Technologies Announces Plan to Repay Customers After a corporate...

RMB Invests in Climate Tech Company KOKO

Rand Merchant Bank (RMB) announced today a strategic partnership with climate technology

Foreign Investment in Nigeria Tech Startups Falls by 66% – Report

Foreign investments in Nigerian startups fell by 65.83% year on year to US$410 million in 2023 from