Author: Ogochukwu Ndubuisi

Post election trading pattern saw the US dollar strengthening against its major trading partners in the forex markets early Tuesday ahead of the release of consumer sentiment reading, the first for November, and New York Federal Reserve’s inflation expectations report for October.

Africa Finance Corporation (AFC) said it has facilitated a landmark US$200 million corporate finance facility for the BUA Group,

FCMB, OANDO Drive Intraday Loss in Equities Market Investors in the equities market of the Nigerian Exchange (NGX) are selling their respective interest in some banking, oil stocks during early trading hours on Tuesday. Oando and FCMB are major decliners, though there are other stocks tracking downward. The sell sentiment has pervade trading session with stock analysts now expecting the local bourse to close negative due to current trading pattern, The market opened the week with expectation that lifted market capitalisation above N59 billion yesterday. However, it appears buying appetite has slowed with some sell side actors taking profit in…

Nigeria Signs $1.2bn Deal to Revamp ALSCON Gas Plant BFI Group, the core investor in Aluminum Smelter Company of Nigeria (ALSCON), has signed $1.2 billion deal with China National Chemical Engineering International Corporation Ltd. to revamp the 135MMscfd Gas Processing plant. The contract signed between CNCEC and BFI Group – the core investor in the Aluminum Smelter Company of Nigeria – is the first step towards reviving the dormant smelter, which has been plagued by years of inactivity due to legal disputes and financial issues. CNCEC is the biggest petrochemical engineering company in China and it is a technical partner…

Ndume, Shehu Sani Differ on Tax Reform Bills Sen. Mohammed Ndume (APC-Borno) and Sen. Shehu Sani have differed on the President Bola Tinubu’s proposed Tax Reform Bills before the National Assembly. Ndume, a former Senate Chief Whip, in a statement in Abuja on Monday, described the bills as ‘ill-timed’, given the economic challenges Nigerians are currently facing. “The general thing is that Nigerians are not willing to talk, hear or pay any tax now considering the situation we have faced because this is the government of the people. “Right now, people can’t even afford what to eat. People are struggling…

Delta Government has approved the transmission of the N936 billion proposed budget for the 2025 fiscal year to the State House of Assembly for further deliberation.

The Economic and Financial Crimes Commission (EFCC) has urged a Federal High Court in Abuja not to grant the reliefs sought by Gov. Babajide Sanwo-Olu of Lagos State in his fundamental right enforcement suit, describing it as speculative.

The Central Bank of Nigeria (CBN) raised a little more than N627 billion from its oversubscribed Treasury bills…

Prices of crude oil declined on Wednesday as markets await the official results of the United States (U.S) election. 

Banking Names Drive Intraday Gain in Equities Market Banking names are trending positively in the equities market at noon. With strong buying momentum, the banking index is trending positively during intraday trading on the Nigerian Exchange (NGX) platform. Data from the local bourse showed there is an ongoing positioning in Tier-1 banks stock, with some mild buys in smaller names. The market has been on a downward trend for the past six trading sessions due to weak investors sentiments amidst earnings releases. At midday, the NGX All Share Index witnessed a positive trajectory, reflecting a gain of 0.03%, Alpha Morgan…