If indications from two separate but related events that were held last December are anything to go by, then one of Nigeria’s most vulnerable groups may be on the verge of experiencing better times. The events, hosted in two separate…
Ukraine: US bans transactions with Russian central bank
The United States on Monday banned all US transactions with Russia’s central bank effective immediately, the Treasury Department said as it unveiled an unprecedented sanction to further punish Moscow for invading Ukraine. “This action effectively immobilizes any assets of the Central…
Seplat’s full-year profit leaps 253% amid post-Covid oil boom
Seplat’s revenue, 84.3 per cent of which came from crude oil sales, grew by over a half to N293.6 billion. Nigeria’s biggest oil and gas company by market value Seplat Energy saw its net profit accelerate by 252.8 per cent in 2021…
Kyari: IOCs divesting from Nigeria because of net-zero commitments
Mele Kyari, group managing director, Nigerian National Petroleum Company (NNPC) Limited, says international oil companies (IOCs) are not withdrawing investments from Nigeria’s oil industry because of a lack of opportunities. Kyari said they are divesting to meet net-zero commitment as…
In a show of tenacity, Zenith Bank surpasses market expectations with double-digit growth in gross earnings
Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience and sound financial indices. Zenith Bank plc has announced an impressive result for the year ended December 31, 2021, recording a…
raises $40M Series A to Scale Up the Super App for Africa’s Informal Merchants
Today, MarketForce (MarketForce360.com), the Nairobi-headquartered B2B platform for retail distribution of consumer goods and digital financial services in Africa, announces the closing of a $40 million Series A round, the largest Series A round of it’s kind in East and Central…
United Capital, R.T. Briscoe others lead NGX N51 billion gain
The Nigerian equities market reopened in an upbeat yesterday, as market capitalisation increased by N51 billion, following gains recorded by many blue-chip stocks. At the close of trading yesterday, the All-Share Index (ASI) increased by 93.43 absolute points, representing a…
Telecom sector’s challenges cut-off five million users from networks in 2021
•Tele density, broadband penetration dip by 2% and 5% respectively By the end of 2021, some 4.75 million telecommunications users were cut-off from the networks in the country. This appeared to be a carryover from the year 2020, where over…
Sell-off in 23 stocks drags capitalisation by N75 billion
Transactions on the Nigerian Exchange Limited (NGX) reopened on a downturn, yesterday, occasioned by sell-off in 23 stocks, as market capitalisation depreciated by N75 billion. Specifically, at the close of transactions the All-Share Index (ASI) declined by 139.02 per cent,…
FIRSTBANK FELICITATES WITH JUNIOR ACHIEVEMENT NIGERIA ON NOBEL PEACE PRIZE NOMINATION
In recognition of the giant strides and efforts by Junior Achievement Worldwide – the parent body of Junior Achievement Nigeria and other Junior Achievement across 119 countries – in equipping young people to solve societal issues, whilst building an entrepreneurship…