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The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria’s stock market opens week with N55 billion loss

The nation’s bourse resumed transactions for the week on Monday with a loss of N55 billion following sell pressure in some blue chips.
A pedestrian walks past a stock indicator board for the Tokyo Stock Exchange being displayed in a window of a securities company in Tokyo on October 1, 2018. - Japanese shares powered to a new 27-year high on October 1 after the US and Canada clinched a long-awaited trade deal, but other Asian equity markets struggled in subdued holiday trading. (Photo by Martin BUREAU / AFP)

Asian markets rise on fresh vaccine hopes, eyes on earnings

Asian markets rose Monday, recovering some of the losses at the end of last week, as investors followed a strong performance on Wall Street fuelled by hopes for a coronavirus vaccine, though a spike in infections around the world capped gains.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

MAN welcomes CBN’s unification of exchange rates

The Manufacturers Association of Nigeria (MAN) says the unification of the country’s exchange rate is a welcome development that will engender increased investment inflow in the real sector of the economy.
Asisat Oshoala has given an untimely injury scare for Nigeria after the striker picked up a knock in Barcelona's 1-0 win over Montpelier on Sunday.

Women’s football in Africa needs re-branding to attract investors – Falcons skipper

Super Falcons of Nigeria Captain Asisat Oshoala says women’s football in Africa needs a lot of investment from cooperating bodies and serious attention from football governing bodies if they are to compete with the rest of the world.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Equities market decline marginally by 0.01 per cent

Sentiments in the local bourse weakened leaving the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) at 24,276.56 basis points on Thursday, having declined marginally by 0.01per cent.
South African Rand coins are seen in this photo illustration. REUTERS-Mike Hutchings

South Africa’s rand edges lower ahead of manufacturing data

South Africa’s rand backtracked early on Thursday after gaining ground in the previous session as investors opted to take profits ahead of local manufacturing data expected to highlight the weakness of the real economy.
An employee shows US dollar banknotes at a foreign currency brokerage office in Khartoum on October 7, 2018. - Sudan slashed the official value of its currency against the US dollar by more than half on October 7, the third devaluation this year in the face of a mounting economic crisis. (Photo by ASHRAF SHAZLY / AFP)

Dollar falls as yuan leads charge in risk-on trades

The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the United States currency.
The Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, has stated that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond.

New SEC chief Lamido Yuguda assumes office

The Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, has stated that the capital market has a lot of potentials for growth and development of Nigeria post COVID-19 and beyond.
Ogun Governor, Prince Dapo Abiodun, has inaugurated the State Business Environment Council, with a charge to members to come up with sustainable reforms that would bring about improved and practical approaches towards Ease of Doing Business in the State.

Ogun governor inaugurates council on business environment

Ogun Governor, Prince Dapo Abiodun, has inaugurated the State Business Environment Council, with a charge to members to come up with sustainable reforms that would bring about improved and practical approaches towards Ease of Doing Business in the State.

NITDA rolls out policies to retain 100,000 jobs, creates 30,000 jobs

National Information Technology Development Agency (NITDA) has put numerous efforts in creating an enabling environment for the purpose of cushioning the effect of the pandemic and creating more jobs, the director-general of NITDA, Mallam Kashifu Inuwa has said.
The Government of Abia State on Monday issued the Economic and Financial Crimes Commission (EFCC) a seven-day ultimatum to remove what it described as ‘offensive’ notices placed on some of its property, saying they are assets of the government.

Abia gives EFCC seven days to issue apology for sealing state property

The Government of Abia State on Monday issued the Economic and Financial Crimes Commission (EFCC) a seven-day ultimatum to remove what it described as ‘offensive’ notices placed on some of its property, saying they are assets of the state government.

Meter manufacturer urges Nigerian government to grant sector ‘special’ forex regime

Sabrud Consortium, an indigenous electricity prepaid metre manufacturing firm, has urged the Federal Government to grant special forex regime to the sector.

Coalition tasks Nigerian government to create transport trust fund

The Nigerian Road Transport and Trade Sector Coalition has urged the Federal Government to create a Transport Trust Fund to make low interest funds available to assist road transportation sub-sector in the country.

NBC assures profit for foreign, local investors

The National Broadcasting Commission (NBC) says the Sixth edition of the Broadcasting Code Amendment guarantees maximun profits for foreign and local investors in the industry.

US Supreme Court sets limits on SEC’s power to recover ill-gotten gains

The U.S. Supreme Court on Monday placed limits on the Securities and Exchange Commission’s practice of forcing defendants to surrender profits obtained through fraud as part of its enforcement of investor-protection laws in federal courts, but stopped short of disallowing such action.
Scandal-hit Wirecard lost 72 per cent in market valuate over the past week.

European shares fall as fears of new virus wave grip investors

European shares fell on Monday as signs of resurgence in coronavirus cases in Germany and elsewhere unnerved investors who were hoping for a swift economic recovery from the crisis.

Russian firm signs MoU on nuclear power plant

Russia’s Rosatom State Corporation says it has signed a Memoranda of Understanding (MoU) with Framatome SAS, France and General Electric on investors’ selection for the Belene Nuclear Power Plant (NPP) in Bulgaria.
Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS-Thomas White-Illustration

South Africa’s rand falls, focus on Donald Trump’s Hong Kong response

South Africa’s rand weakened against the dollar early on Friday as investors monitored the latest U.S. response to China tightening its control over the city of Hong Kong.

Recent Stories

Court dismisses fraud charges against Tompolo, others

A Lagos Division of the Federal High Court Wednesday dismissed all the 40 counts bordering on alleged N34 billion fraud filed by the Federal Government against Global West Vessel Specialist Limited, a company linked to a former Niger Delta militant leader, Government Ekpemupolo, popularly known as Tompolo.
Ibrahim Magu

Suspended EFCC chief Ibrahim Magu released from detention

He was arrested last week Monday and has been detained by the police since then. He has been appearing before a presidential panel investigating allegations of corruption and insubordination levelled against him by Abubakar Malami,

IPOB threatens payback on Anambra youths who attacked female members

The Indigenous People of Biafra (IPOB) has threatened to retaliate on youths of Oba, in Idemili South Local Government Area of Anambra State over alleged attack on some of their female members during a showcase of Igbo delicacy by the women on Sunday.
The Senate has described as “erroneous” report that it approved fresh loan of N850 billion at the plenary on Tuesday.

Senate approves N168.8 billion 2020 budget for FIRS

The Senate on Wednesday at plenary, approved the sum of N168,809,476,220 to fund the proposed 2020 budget of the Federal Inland Revenue Services (FIRS).
Inspector-General of Police Mohammed Adamu

IGP: Suspended EFCC chief not detained by Police

The Inspector-General of Police, Mohammed Adamu, says the police are not involved in the detention and investigation of the embattled former acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.