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Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45...

Nigeria’s Telecomms Sector Still in Growth Mode Led by Data

Nigerians telecommunications sector was in growth mode in the third quarter of 2020, led by data and internet subscriptions which rose by 23 percent...

Listed Insurers Record Premium Growth Despite Covid-19 Headwinds

Nigerian listed insurers have continued to expand their underwriting portfolios even amid the coronavirus crisis and a difficult business environment as premium growth accelerated...

Pension Assets Hit N11.56trn as Fund Managers Buy Money Market Securities, REITs

The total Pension assets under management (AuM) in Nigeria hit a high of N11.56 trillion as at September 2020 as fund managers continued to...

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Notore Chemical Commences Turn Around Maintenance on Fertiliser Plant

Notore Chemical Industries Plc’s has shut down its Fertiliser Plant to commence its Turn Around Maintenance (TAM). The objective of...

Sovereign Trust Insurance Maintains A- Rating with GCR

For over a decade now, Sovereign Trust Insurance Plc has consistently maintained a confident A- rating with the international...

First Bank Begins The Year With Innovative, Convenient Virtual Payment Card

First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has launched the Virtual Payment card, a Naira...

Nigeria Inflation Rises to 15.75% in December 2020

Nigeria's headline inflation rose to 15.75 percent in December 2020, the highest since November 2017. Food inflation rose to 19.56...

Stanbic IBTC Discontinues Bureau De Change Business

Stanbic IBTC Holdings PLC has announced that its Bureau De Change Subsidiary, Stanbic IBTC Bureau De Change Limited (‘Stanbic...

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Dangote, Elumelu, Ovia Wealth Surge by N1.79 trillion Since March 2020

Nigerian billionaires haven't been beaten down by the pandemic, they have actually thrived in it, collectively increasing their wealth by N1.79 trillion, since the...

Nigeria Banks N389bn Fee Income No Relief From Falling Yields

Nigeria’s biggest lenders have generated N389.87 billion in fee income so far this year, but the amount is not enough to add impetus to...

FACT CHECK: The Dangote Cement Buyback is NOT Nigeria’s First

Notwithstanding the euphoria that greeted the announcement that Dangote Cement will begin a buyback of the company’s shares next week to boost shareholder value,...

Nigerian Bitcoin Investors in the Money While Sidestepping Emefiele, Inflation

One Bitcoin now fetches about N10.25 million in the local Nigerian currency, after the world’s largest cryptocurrency surged as much as 10 percent to...

Technicals Point to a Pause in Nigeria Stock Rally

Nigerian stocks which have rallied an eye-popping 30.2 percent so far this year, could be in for some profit taking as technical indicators signal...
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Energy

Heirs Holdings Acquires 45% of OML 17 from Shell, Total and ENI

Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the...

Oil Prices Jump To 10-Month High On Weak Dollar

Oil prices shot up to a 10-month high, posting further gains in the wake of the OPEC+ cuts, and edged a bit higher by...

Exxon Signals Historic Fourth Consecutive Loss on Oil Demand Hit

Exxon Mobil Corporation which is struggling to maintain a $15 billion-a-year dividend program, indicated it incurred a fourth straight quarterly loss. Exxon confirmed in a...

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Nigeria Inflation Rises to 15.75% in December 2020

Nigeria's headline inflation rose to 15.75 percent in December 2020, the highest since November 2017. Food inflation rose to 19.56...

High Court Upholds Illegality of Stamp Duty Deductions Prior to Amendment of Act

The Federal High Court (FHC or “the Court”) Asaba Division, last month held that collection of stamp duties on...

India, Spain, Netherlands are Top Export Markets for Nigeria Goods

India, Spain and the Netherlands were the three (3) largest export markets of Nigeria in the third quarter (Q3)...

Nigeria Seeking to Keep Debt Costs Lower for Longer While It Can

Nigeria is seizing on historically low domestic bond yields to keep debt payments costs as low as possible even...

Nigeria Ranks 3rd on Intra-African Trade as total Africa Trade Down to $1.049trn

Despite reasonable economic growth, the volume of African trade actually fell by 0.13 percent last year from $1.051 trillion...

7 Key Takeaways as IMF Completes 2020 Article IV Mission to Nigeria

An International Monetary Fund (IMF) staff team led by Jesmin Rahman conducted a virtual mission from October 30 to...

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