Capital market

Showing: 41 - 50 of 290 Articles
Capital market Money market

Fidelity Bank: Improved share price as growth indicator

Lagos, April 26, 2024 – When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer than ever imagined. In full year 2022, Fidelity Bank briefly fell into the Tier 1 category and saw the highest gross earnings of N337.10 billion and profit before tax of N53.68 billion. The bank’s higher interest income relative to interest expense led to a …

Business Planning Foreign Investment

Netherlands commits $250m in fresh investments in Nigeria

The Hague, April 25, 2024 – Netherlands has committed $250 million in fresh investments in various sectors Nigeria. Its Prime Minister, Mark Rutte, announced this on Thursday during a meeting with Nigeria’s President Bola Tinubu.  Part of the investments is a $100 million waste-to-wealth project in Lagos State Tinubu is currently on a three-day visit to the Netherlands where he participated in the Nigeria-Dutch Business Forum. Rutte commended President Tinubu for his economic reforms, which he said, had bolstered international investors’ confidence in Nigeria. (GBN)

Business Planning Manufacturing/Industry

FG announces take-off of N200b Presidential Intervention Fund

Abuja, April 22, 2024 – The Federal Government on Monday announced the take-off of the N200 billion Presidential Intervention Fund. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, announced this at the operational launch of the MSME and Manufacturers segment of the Fund. “The Federal Government of Nigeria is proud to announce the operational launch of the MSME and Manufacturing segment under the prestigious Presidential 200 Billion Naira Intervention Fund. “With applications for the Presidential Conditional Grant Scheme now closed, we are excited to move forward with the loan …

Business Planning General News

Nigeria will become economic force under Tinubu – VP

Abuja, April, 18, 2024 – Vice-President Kashim Shettima has expressed optimism that Nigeria will become a major economic force in the world under President Bola Tinubu. Shettima stated this at the Presidential Villa, Abuja when he hosted a delegation from the Commonwealth Enterprise Investment Council (CWEIC) led by its Chief Executive Officer (CEO), Rosie Glazerbrook. According to him, the Tinubu’s administration is committed to creating an unprecedented enabling environment for both local and foreign investors to thrive. “This is being done through harnessing resources of the country’s youth population in digital …

Business Solutions

Consumer commission to check arbitrary price fixing

Abuja, April 15, 2024 – The Federal Competition and Consumer Protection Commission (FCCPC) says it will not hesitate to take action against businesses engaging in arbitrary price fixing. The FCCPC made the promise in a statement posted on its official X handle on Sunday. It said it was concerned about recent complaints about rising prices of goods in spite of the appreciation of the naira, adding that the rising cost of essential goods impacted consumers’ well-being and economic stability. “While we recognise that the commission cannot directly control prices, we …

Business Planning Commodities

Ivory Coast to increase cocoa price by 50%

Abidjan, April 1, 2024 – Ivory Coast’s President Alassane Ouattara will increase the official cocoa farmgate price to 1,500 CFA francs ($2.47) per kg from Tuesday from the current 1,000 CFA, sources at five different export companies said. The sources, who requested anonymity because of the sensitivity of the issue, said they were citing a decision at a government meeting on Saturday. Earlier in the day, Ouattara had validated a proposal for a price of between 1,100 and 1,200 CFA francs per kg before reversing his decision and asking that …

Business Planning Capital market Money market

Tinubu, CBN done well to stabilise the Naira – IMP

Abuja, March 28, 2024 – The Independent Media and Policy Initiative (IMPI), a private Think-tank, has described the rate with which the Naira is appreciating as a reflection of the bouquet of positive policies introduced by the Nigerian authorities and the Central Bank of Nigeria (CBN). In a policy statement on Wednesday in Abuja by the Chairman of IMPI, Mr Niyi Akinsiju, the Think-tank argued that the government and the CBN deserved commendation for the policies that were addressing the supply and demand sides of the foreign exchange market. IMPI …

Business Planning

FEC approves creation of Renewed Hope Infrastructure Fund

Abuja, March 25, 2025 – The Federal Executive Council has approved the creation of the Renewed Hope Infrastructure Fund to enhance infrastructure development across the country. Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, disclosed this on Monday after the Federal Executive Council (FEC) meeting. He said the fund was designed as a special purpose vehicle to drive the crucial investment needed for the country’s infrastructure development demands.  Adedeji said the plan of the Federal Government had been to bridge the infrastructure gap of over $858 billion that …

Business Planning Investment Money market

Diaspora investments can galvanise Nigeria’s economic prosperity – Dabiri-Erewa

Abuja, March, 22, 2024 – Abike Dabiri-Erewa, the Chairman of Nigerians in Diaspora Commission (NIDCOM), says  structured Diaspora investment can galvanise Nigeria’s economic prosperity. Dabiri-Erewa said this in Abuja on Thursday during a strategic meeting with a wealth management company, Optiva Capital Partners. She said the collaboration between Optiva Capital Partners and NiDCOM would be as a pivotal step toward harnessing the potential of Nigeria’s Diaspora community in fostering sustainable economic growth and strengthening ties between the Diaspora and their homeland. Dabiri-Erewa said that NiDCOM was willing to partner with …

Business Planning Foreign General News Investment

Access Banks acquires National Bank of Kenya 

Lagos, March 21, 2024 – Access Holdings Plc has entered into a binding agreement with Kenyan-based KCB Group Plc to acquire 100 percent stake in National Bank of Kenya Limited. According to a statement filed with the Nigerian Exchange Limited on Wednesday, Sunday Ekwochi, the Secretary of Access Holdings, said the transaction was in furtherance of the Bank’s expansion strategy in Africa. He said the acquisition would reposition it as a stronger and significant player in the Kenyan market whilst serving as a regional hub for East Africa. Roosevelt Ogbonna, …