Author: Julius Alagbe

Innovation Key to Commodities Development – SEC The Securities and Exchange Commission (SEC) says it is committed to promoting innovation and collaboration to position commodities exchanges as vital drivers of economic growth. This is contained in a notice by the Director-General of SEC, Dr Emomotimi Agama, said on Sunday in Abuja. Agama said the commission would innovate in capacity building, infrastructure development and partnership with stakeholders to improve and sustain commodities markets. “Our role in sustaining commodities exchanges in Nigeria cannot be overlooked because at the heart of these exchanges’ functionality is the SEC whose regulatory oversight plays a pivotal…

Stanbic IBTC Bank has solidified its position as the leading Bank for capital importation in Nigeria, capturing an impressive 28.30% of total foreign capital inflows worth about $2 billion in the first nine months of 2024.

The naira strengthened to N1,537 per US dollar in the official window on Tuesday after the Central Bank of Nigeria’s (CBN) forex market intervention sales to authrosied dealer banks.

An International Monetary Fund mission led by Ivanna Vladkova Hollar and the Egyptian authorities have reached staff-level agreement on the fourth review under the Extended Fund Facility (EFF) arrangement.

Tax Reform Here to Stay, Tinubu Says President Bola Tinubu said, in his maiden media chat on Monday, that the tax reform bill before the National Assembly had come to stay. The president said his administration must retool the economy and that he had the capacity to focus on what the country needed. “We cannot continue to do what we were doing yesteryears in today’s economy; we cannot retool this economy with the old groping bolts. “I believe I have that capacity; I am focused on what Nigeria needs and what I must do for Nigerians. “It will not be…

Global cryptocurrencies market value jerked down as bitcoin and ether exchange-traded funds saw some

MTN Nigeria Seeks to Raise ‘More Money’ from Debt Market The telecommunications company, MTN Nigeria Plc, has moved to raise additional funds of up to N50 billion from the debt market to boost working capital through Series 15 and 16 commercial papers. The telecom company has shown preference for short-term funding via commercial paper offerings to reduce pressures from negative capital position. In a regulatory filing, the telecom company told the Nigerian Exchange it plans to issue commercial paper worth about N50 billion. This will be the third commercial paper issuance made by the company after FX pressure broke its…

Airtel Africa has announced the commencement of a second share buyback programme that will return up to $100 million to shareholders.

Transcorp Hotels Hits 52-Week High Ahead of CEO Exit Transcorp Hotels Plc market value hit a new 52-week high in the equities segment of the Nigerian Exchange (NGX) in the just concluded week ahead of its leadership change. The hospitality company’s share price inched higher to N116 in the equities market on Friday, gaining 9.4% over the last five trading sessions from the opening price of N106. Its share price has been flattish over the recent past weeks ahead of the fourth quarter of the financial year 2024 earnings announcements. For some alpha seekers, the right time to make strategic…

Bitcoin, Ethereum, and some other cryptocurrencies prices rebounded in the cryptocurrencies markets after massive sell pressure caused by retail investors profit-taking. However, the renewed interest in major cryptocurrencies assets lifted market capitalisation of all digital coins higher, weekend data showed.