News & Insights

The International Monetary Fund has said the global economy will slide into a recession that is “at least as bad as during the global financial crisis or worse” this year on the back of the coronavirus pandemic. The Managing Director, IMF, Kristalina Georgieva, in a statement on Monday, said many […]

Agency Reporter Following the raging effect of COVID-19 in country, the Nigerian Stock Exchange (NSE) will effective March 25 temporarily close its trading floors and engage in remote trading.   Mr Oscar Onyema, NSE Chief Executive Officer, said in a statement on Monday in Lagos that the decision became imperative […]

Nigeria has cut the official selling prices for its crude oil to record lows to clear a glut of unsold April-loading cargoes before releasing the May programme on Monday. The country has had to grapple with an unprecedented excess of oil triggered by the coronavirus outbreak and a price war […]

Nume Ekeghe with agency report The devaluation of the naira will put pressure on assets of banks struggling to raise asset quality to the regulatory threshold, according to Moody’s Investors Services. The Central Bank of Nigeria (CBN) last week adjusted the naira exchange rate against the dollar, a move that […]

By Emmanuel Addeh and Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) yesterday announced an increase in trading surplus of N5.28 billion in its December 2019 operations compared to the N3.95 billion posted in November last year, an increase of about 34 per cent. The corporation noted that its downstream […]

•Opportunity widens for investors as stock prices decline 40% By Obinna Chima and Goddy Egene Financial market analysts are anticipating a reduction in the benchmark Monetary Policy Rate (MPR) by the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) whose two-day meeting commences today in Abuja.   Analysts based […]

The Nigerian Ports Authority (NPA) has refuted misgivings about tariff charges on vessels berthing in Nigerian ports, saying charges on such vessels remain among the lowest in the West African coast. The General Manager, Corporate and Strategic Communications of NPA, Jatto Adams, in a statement, disclosed that while $94,567.63 was […]

The Securities and Exchange Commission (SEC) has expressed optimism that Collective Investment Scheme (CIS) or mutual funds in the capital market will hit N1.5 trillion before the end of the year. CIS is an arranged pool of funds managed on behalf of investors by a professional money manager, which may […]

Omololu Ogunmade in Abuja The Nigerian National Petroleum Corporation (NNPC) has called for patience on the part of fuel consumers over the implementation of the new fuel pump price, which from Wednesday dropped from N145 per litre to N125. NNPC Group Managing Director, Mr. Mele Kyari, told State House reporters […]

The Executive Secretary of the Petroleum Products Pricing and Regulatory Agency (PPPRA), Mr. Abdulkadir Saidu, thursday disclosed that the pump price of petrol, will henceforth be determined by market forces. He said with PPPRA’s current projection, the current price of N125 will likely stay till the end of this month. […]