CBN Directs Banks to Dispense Old Naira Notes –Soludo

Chukwuma Soludo, the executive governor of Anambra state, has revealed that the apex bank has directed Nigerians to begin to use old N200, N500, and N1,000 bills for their transactions …Read more

Dangote Cement Gains 3.6% after Share Repurchase Notice

Dangote Cement Plc’s share price spiked 3.6% to N288 on Friday’s close following an approval granted by regulators that allow the company to repurchase its own shares. Read more

Naira: Unstable FX Rates Threaten Eurobond Repayment

Ahead of Eurobond repayment, the Nigerian naira continues to face market pressures following tight foreign currency inflows into the country. The Naira…Read more

South African Banks Face Asset Quality Risks from Load Shedding

South African banks face near-term asset quality pressures due to record load shedding on economic activity, Fitch Ratings says. Load shedding or power blackouts…Read more

Silicon Valley Bank: Bank of London Submit Proposal for UK Arm

Bank of London has submitted a proposal to Silicon Valley Bank UK, the company said in a statement on Sunday.  It added that the proposals have been sent to British authorities…Read more

Dollar Falls as SVB Pressures Dampen Rate Hike

While policymakers move to swiftly restore confidence, the dollar falls as U.S. banking crisis fears reduce the prospect of the Federal Reserve stepping up the pace…Read more

Naira Scarcity: Earnings Dilutive for Nigerian Banks – Analysts

Naira scarcity in Africa’s largest economy by size of gross domestic product (GDP) will impact Nigerian deposit money banks’ earnings target negatively in the first quarter of 2023…Read more

FMN Plc.’s Bloated Finance Costs, Declining Profit Prompt Sell Rating

Preceded by a weak financial scorecard, Flour Mills of Nigeria’s (FMN Plc) profit before tax expenses is expected to decline by 55% in the financial year 2023, equity analysts’ estimates … Read more

Market Index Jumps as Nigerian Exchange Gains N145bn

With a total sum of N145 billion record gain in a week, the equities segment of the Nigerian Exchange (NGX) continues its gaining streak and is more likely to remain … Read more

Nigerian Treasury Bills Rates Spike, 364-Day Hits 10%

The average yield on Treasury bills increased as the market began to see higher spot rates at the Central Bank of Nigeria’s primary market auctions following investors’ apathy … Read more

Saudi Aramco’s Profit Rises 46.5% to $161.1bn

Saudi Arabian state-owned oil company, Aramco, has reported a record annual net profit of GBP134 billion or $161.1 billion for 2022, up 46.5% from the previous year …Read more

Court Order: Seplat Energy CEO Roger Brown Steps Aside

Amidst racists slur, Seplat Energy Plc says its Chief Executive Officer, Mr Roger Brown, has stepped aside from running the company for a period of seven days… Read more