- AI, Tech Stocks Drive Wall St. to Record High, European Markets Rally
- Nascon Grows Profit by 26% to N19.6 Billion in H1-2026
- US Retail Broker, Wealth Managers Post Record Earnings, Assets 1H2026
- Biodiversity Loss Hitting Africa Hardest, Threatens Food Security – UN
- Oil Prices Slide Below $80 as Markets Price in US-Iran Talks
- Overnight Rate Dips as Financial System Liquidity Rises to N5.33trn
- XRP Steadies as Holders Can Now Borrow from Ripple Stablecoin
- CBN Declares Forex Market Stable as Reserves Hit $52.5bn
Economy
Global equity markets advanced, with Wall Street closing higher after buying interest in major technology companies following earnings releases.
The Federation Account Allocation Committee (FAAC), on Wednesday, shared the sum of N906.955 billion among the three tiers of government as federation allocation for the month of October.
Gov. Nasir Idris of Kebbi, on Wednesday, presented a budget proposal of N250.1 billion for the 2024 fiscal year to the state House of Assembly.
Gov. Umo Eno of Akwa Ibom has presented an Appropriation Bill of N845.63 billion for the 2024 fiscal year to the state House of Assembly for consideration and approval.
Fitch Ratings has downgraded Nigeria-based Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) to ‘CC’ from ‘B-‘ and its Viability Rating (VR) to ‘cc’ from ‘b-‘.
Equities analysts at Afrinvest Limited have kept shares of Fidelity Bank, FBNH and Stanbic IBTC on sell recommendation due to weak upside potential, detail from its week stock recommendation shows.
President Bola Tinubu has called for German investment in critical sectors of Nigerian economy such as power and rail transportation.