Author: Ogochukwu Ndubuisi

Equities investors on the Nigerian Exchange (NGX) recorded more than N65 billion as gain over fresh bargain hunting in value stocks.

Ahead of merger deal, GCR Ratings has affirmed Providus Bank Limited’s national scale long and short-term issuer ratings of BBB-(NG) and A3 (NG) respectively,

The yield on the 10-year US Treasury note steadied around 3.88% on Tuesday as investors avoided making big bets ahead of Federal Reserve Chair Jerome Powell’s

Gold Hits All-Time High, Gains 22% in 2024 Gold reached $2,520 per ounce on Tuesday in the global commodities market, a new record high, as bets of less-restrictive monetary policy by major central banks magnified the support for safe-haven assets amid lingering geopolitical concerns. Signs of continued disinflation in the US, lastly evidenced by headline and core price gauges slowing more than expected in July, raised expectations that the Fed is due to start lowering rates and attend to a slowing labor market. Markets currently favor 100bps in rate cuts by the US central bank in their three remaining decisions…

The Central Bank of Nigeria (CBN), says it recorded a significant increase in remittance inflows of 553 million dollars in July.

The Minister of Power, Chief Adebayo Adelabu yesterday disclosed that the Federal Government has paid N205 billion to electricity generation companies

Oil Prices Fall as Hope of Ceasefire in Middle East Increases Trading below $80 per barrel apiece on Tuesday, prices of crude oil in the global commodity market have come under renewed pressure following progress towards a ceasefire between Israel and Hamas. This has the potential to reduce pressure on energy costs, as oil prices have been trading on the high side since the Russia-Ukraine war began. Brent crude dropped to $77.05 per, representing a 0.79% decline from the previous session’s close of $77.66. US benchmark West Texas Intermediate (WTI) decreased by 0.81% to $73.06 per barrel, after closing at…

NNPCL is Not Paying Fuel Subsidy, CFO Says The Nigerian National Petroleum Company Limited (NNPC Ltd.), says it has not paid fuel subsidy to anybody in the last nine years. The Chief Financial Officer (CFO) of the company, Alhaji Umar Ajiya made the clarifications on Monday in Abuja. Ajiya said the NNPC Ltd. was only taking care of Premium Motor Spirit (PMS) importation shortfalls between the company and the federation. “In the last eight to nine years the NNPC Ltd., has not paid anybody a dime as subsidy, no one has been paid kobo by the NNPC Ltd. in the…

MTN Nigeria Announces Ratings from GCR, Agusto & Co MTN Nigeria Communications Plc has said that GCR Ratings and Agusto & Co. have affirmed their respective ratings for the telecommunications company. In a regulatory filing, the telecom company told the Nigerian Exchange that GCR affirmed the national scale long and short-term issuer ratings of AAA and Al1+, respectively as well as the national scale long-term issue rating of AAA accorded to each of the Company’s existing senior unsecured bond issues. In addition, Agusto & Co affirmed the Aa+ issuer rating. The ratings reflect MTN Nigeria’s strong competitive position, earnings generation…

SUNU Assurances Nigeria Plc says it paid N2.08 billion as claims in the 2023 financial year.