Author: Ogochukwu Ndubuisi

Analysts at CardinalStone Securities Limited have jerked up their target price for Transnational Corporation to N69.71 per share, citing the TransAfam turnaround as the reason for their buy recommendation.

UK manufacturing continues to recover in May despite rising consumer price inflation and supply chain pressures, S&P Global said in its monthly purchasing manager index (PMI)

Equities investors lost N2.28 trillion as the stock market continues to reprice overbought stocks, and sentiment deteriorated for the third trading session in June 2026.

Equity investors lost N478 billion on the Nigerian Exchange (NGX) due to sustained bearish activity. The stock market closed on a negative note, with key performance indicators mixed due to new shares being listed.  The All-Share Index (ASI) declined by -0.35%, while the market capitalisation plunged by -0.30%.

Nigeria Can Leverage Pension, Sovereign Wealth Funds for Growth — AfDB An Economic Expert, Prof. Kevin Urama, says Nigeria can unlock substantial resources for development by leveraging pension funds, sovereign wealth assets and other domestic institutional investors. Urama, the African Development Bank (AfDB) Chief Economist and Vice President for Economic Governance and Knowledge Management, said this in an interview with the News Agency of Nigeria on Tuesday The chief economist, while outlining strategies for mobilising long-term capital to support economic growth, said institutional investors across Africa currently managed about four trillion dollars in assets.. He, however, added that only a…

Equities investors lost N181 trillion in a swoop on Monday over risk-off sentiment spotted across key sectoral indices.  The Nigerian Exchange (NGX) opened trading for the month in negative territory, with key market performance indicators declining by 1.3%. 

Fitch Ratings has upgraded Wema Bank PLC’s Long-Term Issuer Default Rating (IDR) to ‘B’ from ‘B-‘ and its Viability Rating (VR) to ‘b’ from ‘b-‘.  With stable outlooks, Fitch also upgraded Wema’s National Long-Term Rating to ‘A(nga)’ from ‘A-‘(nga)’.

Kidnapping: NUT Directs Oyo Teachers to Begin Indefinite Strike June 1 The Nigeria Union of Teachers (NUT) has directed all public primary and secondary school teachers in Oyo State to embark on an indefinite strike beginning on Monday. The body, in a statement made available to newsmen on Sunday in Ibadan, said that the decision was necessitated by the continued captivity of abducted teachers and pupils in the state. Some teachers and studets/pupils of Community Grammar School, Ahoro-Esinele, L.A. Primary School Ahoro-Esinele and Baptist Nursery and Primary School, Yawota, near Ogbomoso, in Oriire Local Government Area of Oyo State, were…

Oil prices edge higher during early hours on Monday as renewed tensions in the Middle East between the US and Iran heightened concerns over potential supply disruptions.

Federal Workers Reject N100,000 Minimum Wage Proposal The Federal Workers Forum (FWF) has rejected the proposed N100,000 national minimum wage, describing it as inadequate and incapable of addressing prevailing economic realities facing Nigerian workers. This is contained in a communiqué issued on Sunday at the end of a meeting and opinion poll held on Saturday to deliberate on hardship and insecurity across the country. The communiqué was jointly signed by Mr Andrew Emelieze, National Coordinator of FWF, Mr Ayo Ogundele, National Secretary, and Mr Aminu Yerima, National Mobilisation Officer of the forum. The forum said federal workers were grappling with…