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Business - Page 523

Stock Market Rally Halted As Demand For Ecobank, PZ Cussons Shares Dropped

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

At the end of trading in the Nigerian stock market on Monday, December 22, the capitalisation of the Nigerian Exchange (NGX) Limited closed at N97.19 trillion. Also, the all-share index (ASI) of the NGX stood at 152,459.07 ASI. Equity traders exchanged 451,52

December 22, 2025

Business

Fidelity Bank Sells N13.97 billion Controlling Shares To 2 Investors

Fidelity Bank has sold a 10.4 per cent controlling stake in the financial institution to two unnamed investors after conducting a private placement. According to a statement released on Friday, 15 April 2023, the share acquisition was made in late February after Fidelity

April 14, 2023

Business

Femi Otedola Spends N3.14 billion To Acquire Shares In Elumelu’s TransCorp

Nigerian billionaire (in Naira), Femi Otedola, has reportedly acquired 5.52 per cent ownership of diversified investment firm, Transnational Corporation (TransCorp). The acquisition cost Otedola N3.14 billion (based on the share price of Tuesday, April 11, 2023) and made him one of the

April 14, 2023

Savannah Energy Records 20% Increase In Nigerian Operations In 2022, Continues Shift to Renewables

Business·Oil & Gas

Savannah Energy’s Q1 Financial Update Records 29% Hike In Nigerian Operations

The Q1 2023 Unaudited financial results showed that the company posted a total revenue of US$147.6m, comprising US$71.0m from its Nigerian operations Chad upstream revenues hit US$76.6m Report Shows the Group’s cash balance stood at US$217.3m, with a net debt of US$412.2m

April 14, 2023

Business

CBN Denies Discriminating Against People With Physical Disabilities Seeking Job

The Central Bank of Nigeria (CBN) has denied discriminating against persons with physical disabilities following a report that the apex bank is not accepting job applications from them. A recruitment portal stated that the central bank is conducting a general recruitment exercise,

April 14, 2023

FG Reopens Six Land Borders, To Probe Reasons Buhari Closed Borders

Business·Oil & Gas

Plan By Buhari, Tinubu To Remove Fuel Subsidy Faces NUPENG Setback

The plan of the Federal Government to remove subsidy on fuel might suffer a setback as the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) revealed they won’t be supporting the move. NUPENG said FG hasn’t met the condition set by

April 13, 2023

Business

T-Bills: CBN To Use N500bn Funds In Dormant Naira, Domiciliary Accounts

The Central Bank of Nigeria (CBN) has informed commercial banks that it will use the money in dormant accounts for investment purposes. CBN said it will favour the financial regulator and the account holders, as the funds in the dormant accounts will

April 13, 2023

Seplat Shareholders Demand Sack Of CEO, Board Amid Legal Fees Controversy

Business·Oil & Gas

FG Sues Seplat CEO, Roger Brown, Chairman, Basil Omiyi, Over Oil Job Conspiracy

The Chief Executive Officer of Seplat Energy, Roger Brown, the firm’s Chairman, Basil Omiyi, and six big shots in the oil and gas company have been slammed with a lawsuit by the Federal Government. Prime Business Africa understands that the lawsuit originates

April 13, 2023

Business

Air Peace Resumes Makurdi Flight, Eyes Second Destination In India

Air Peace has announced that the airline will resume its flight operation in Makurdi, Benue State, two years after suspending the operation. The international airline had began air travel to Makurdi airport from Lagos and Abuja on December 7 2020, but a

April 13, 2023

GTCO, First Bank Fail To Make Top Five Performing Nigerian Bank Stocks In H1

Business·Insights

Why FCMB, GTBank, Access, Stanbic IBTC CEOs Seek HoldCo Structure, To Stay More

The Nigerian banking industry is in the season of transition from a core banking operation to a Holding Company (HoldCo) structure. Out of 15 commercial banks operating in Nigeria, at least seven lenders; Sterling Bank, Access Holding, FBN Holdings, FCMB Group, Guaranty

April 13, 2023

Business·Markets

Skyway Aviation Top Gainers’ List, Royal Exchange Lead Losers

Nigerian bourse recorded sluggish growth on Wednesday, 12 April 2023, closing with N28.30 trillion market capitalisation, as shareholders in NGX Group and Royal Exchange, amongst others saw a decline in their investment value. The All-Share Index shed 0.42 basis points to rise slightly from

April 12, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 523

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

Fidelity Bank Sells N13.97 billion Controlling Shares To 2 Investors

Femi Otedola Spends N3.14 billion To Acquire Shares In Elumelu’s TransCorp

Savannah Energy’s Q1 Financial Update Records 29% Hike In Nigerian Operations

CBN Denies Discriminating Against People With Physical Disabilities Seeking Job

Plan By Buhari, Tinubu To Remove Fuel Subsidy Faces NUPENG Setback

T-Bills: CBN To Use N500bn Funds In Dormant Naira, Domiciliary Accounts

FG Sues Seplat CEO, Roger Brown, Chairman, Basil Omiyi, Over Oil Job Conspiracy

Air Peace Resumes Makurdi Flight, Eyes Second Destination In India

Why FCMB, GTBank, Access, Stanbic IBTC CEOs Seek HoldCo Structure, To Stay More

Skyway Aviation Top Gainers’ List, Royal Exchange Lead Losers

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ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

ALEX Leads NGX Gainers’ List, Guinea Insurance Among Losers

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