The Central Bank of Nigeria has recorded an oversubscription of N112.15bn on its last Treasury Bills auction. The CBN offered a total of N34.38bn worth of T-bills across the 91-day, 182-day and 364-day tenors. The 91-day tenor saw an oversubscription of N10.68bn as it received a total subscription of N15.06bn, compared to the N4.38bn offered. […]

The Nigerian Content Development and Monitoring Board is providing equity investment for the establishment of two modular refineries in Imo and Bayelsa states that will produce a total of 17,000 barrels of crude oil per day. The Executive Secretary of the board, Simbi Wabote, told journalists in Abuja on Monday that the modular refineries were […]

Guaranty Trust Bank Plc has proposed an interim dividend of 30 kobo per share, which translates to N8.8bn, for the first half of the year. In its half-year financial statement, which was made available to the Nigerian and London Stock Exchanges on Friday, the bank reported a 3.72 per cent growth in profit after tax, […]

The board of Zenith Bank International Plc yesterday said it would be distributing N9.42 billion to shareholders as interim dividend as the bank sustained steady growths across key performance indices in the first half of this year. Shareholders on the register of the bank as at August 29, 2019 will receive an interim dividend per […]

The Nigerian Stock Exchange (NSE) on Monday listed Greenwich Alpha ETF (Greenwich Alpha), an exchange traded fund (ETF) promoted by Greenwich Asset Management Limited.  The Greenwich Alpha ETF was listed at N100 per unit following the success of the fund’s initial public offering (IPO). Greenwich Alpha is an open-ended ETF that tracks the NSE 30 […]

The Manufacturers Association of Nigeria (MAN) on Monday withdrew its participation in the 2020 Annual Nigeria Manufacturing Expo/Manufacturing Partnership for African Development (NME/mPAD) events organised by Clarion Events West Africa. The group said its decision was based on the decision of its partner, Clarion Events West Africa, to withdrew its business interest from Nigeria, and […]

The Central Bank of Nigeria (CBN) on Monday it will strive to protect the country’s currency reserves after a British court ruling granted a small natural gas firm the right to seize $9 billion in assets from the Federal Government. The huge cash would be one of the largest financial liabilities imposed on Nigeria in […]

Oil prices rose on Monday after weekend attack on a Saudi oil facility by Yemen’s Houthi forces. Traders also looked for signs that top economies would take measures to counteract a global slowdown. The prices were, however,  limited by a downbeat report by the Organisation of the Petroleum Exporting Countries (OPEC) that stoked concerns about […]

The nation’s stock market witnessed a rebound on Monday after two consecutive weeks of losses, gaining N93bn. The market capitalisation of equities increased from N13.121tn on Friday to N13.214tn on Monday as the All Share Index appreciated by 0.71 per cent to settle at 27,177.22 basis points. Strong earnings reported by banks in their half-year […]