TOP STORIES

MTN issues statement in reaction to EFCC’s purported raid on its head office

@MTNNG has released a statement denying any wrongdoings hours after @officialEFCC and some officials of the @PoliceNG purportedly laid siege on its head office in Falomo, Victoria Island.

Purported EFCC raid on MTN Nigeria head office might be false

There were wild media reports, late Friday night, purporting that the Economic and Financial Crimes Commission (@officialEFCC) raided the head office of @MTNNG. This might be wrong.

NSE ends the week on a negative note as MTN loses for the first time

The Nigerian Stock Exchange ended Friday's trading session in negative territory. The All Share Index closed at 30, 881.29 basis points, down 1.89%.

Household Survey: Prices of tomatoes jump, as local rice stock piles up

As the Ramadan season gradually comes to an end, some households in Lagos and elsewhere may find it difficult to celebrate because the prices of some food items keep increasing.

New report casts doubt over future funding for small businesses in Nigeria

Over $1 billion has been lost to Micro, Small, and Medium Enterprises-related corruption in the last five years, a new report has shown. Some of the corruption-prone schemes include constituency projects and @cenbank development fund.

ATTENTION: DV Balanced Fund to become a Money Market Fund

Vetiva Asset Management Company has requuested unitholders of DV Balanced Fund to attend a meeting in Lagos on May 28th by 11:00 am.

Press Releases

FCMB empowers more SME customers in Season 2 of “Race to China Promo”

First City Monument Bank (FCMB) has rewarded another set of its Small and Medium Scale Enterprises (SMEs) customers in Season 2 of the Bank’s reward scheme tagged “FCMB SME Race to China Promo”.

Outsource Global Extends its BPO Service to Japan

The Africa Business Process Outsourcing industry got another boost as the leading player in that space, Outsource Global, recently announced their expansion into Japan.

Meristem Green Fest: Masterclass speakers and organic vendors unveiled

Meristem Green Fest (@meristemnigeria) announces the facilitators for the masterclasses set to hold at the event.

UBA partners Mastercard, Rewards Customers with All-Expense Paid Trip to UEFA Champions League Finals

United Bank for Africa Plc and Mastercard have announced they are giving away all-expenses paid trips to the Semi-Finals and Finals of the 2019 UEFA Champions League to 12 lucky UBA Mastercard holders and their plus ones. 

FirstBank hits N1tn in transactions processed through its Firstmonie Network

First Bank of Nigeria Limited has announced that its Firstmonie network has processed a cumulative transaction value of N1 trillion from its relaunch in January 2018.

Abdoul Aziz Dia Joins the Group Board of Directors of UBA

 The United Bank for Africa Plc (UBA) announced today that Mr Abdoul-Aziz Dia will join the bank’s Board of Directors subject to the approval of the Central Bank of Nigeria.

Latest Posts

One year on, Gokada raises $5.3 million in first ever Series A funding

On-demand motorbike hailing service, Gokada, has raised a $5.3 million Series A capital funding to expand its operations and increase daily rides by 1000%.

A total of $70 billion has so far been invested in Nigeria’s telecom industry

Investments in the Nigerian telecoms sector have reached $70 billion (about N25.2 trillion), the Nigerian Communications Commission has confirmed.

MTN issues statement in reaction to EFCC’s purported raid on its head office

@MTNNG has released a statement denying any wrongdoings hours after @officialEFCC and some officials of the @PoliceNG purportedly laid siege on its head office in Falomo, Victoria Island.

How regulatory changes and tempered yield environment impacted Stanbic IBTC’s earnings

Stanbic IBTC grew its revenue by 2.27% to NGN58.69bn, supported by the 5.47% growth in interest income while non-interest income remained relatively flat at N27.00 billion.

Amaechi explains why Nigeria Air was suspended after 2 months of unveiling

Amaechi has explained that Nigeria Air was suspended because FEC members were divided on the modalities for its establishment.

CBN injected $11.81 billion in 3months to Stabilise naira

The Central Bank of Nigeria (CBN) injected the sum of US$11.81 billion in the first quarter (Q1) of 2019. This was revealed in the CBN Quarterly Economic Report.

Purported EFCC raid on MTN Nigeria head office might be false

There were wild media reports, late Friday night, purporting that the Economic and Financial Crimes Commission (@officialEFCC) raided the head office of @MTNNG. This might be wrong.

NSE ends the week on a negative note as MTN loses for the first time

The Nigerian Stock Exchange ended Friday's trading session in negative territory. The All Share Index closed at 30, 881.29 basis points, down 1.89%.

CBN’s Emefiele charges private sector operators to improve economy

Governor Godwin Emefiele of the Central Bank of Nigeria (CBN), has charged private sector operators to look inwards and figure out how best to develop the country's economy.

FCMB empowers more SME customers in Season 2 of “Race to China Promo”

First City Monument Bank (FCMB) has rewarded another set of its Small and Medium Scale Enterprises (SMEs) customers in Season 2 of the Bank’s reward scheme tagged “FCMB SME Race to China Promo”.

Old Mutual suspends CEO with immediate effect, as CEO reacts

@OldMutualLtd, the parent company of @OldMutual_NG, has suspended its Chief Executive Officer, Peter Moyo (@Mtheera) with immediate effect.

Transportation receives fresh boost as FG okays $2.3 billion coastal rail project

The Federal Government has approved $2.3 billion for the construction of a rail line that will run across Nigeria's coastal states.

Financial Literacy

How to get the Central Bank of Nigeria to credit your account

Doesn’t it feel good to be a lender of money? Yes, it does, especially if you know the borrower is creditworthy and would repay you with interest as at when due. The Central Bank of Nigeria could always borrow money from you and repay you when the time is due.

Understanding Mutual Fund Fees: Miscellaneous Fees

In my first article on the issue of understanding mutual fund fees, I expounded on what management fee is, how to calculate it and how to reduce the burden by negotiating better rates if you are in a position to do so.

How to calculate interest on a money market fund investment

I recently received an email from one Stephen A (last name withheld), who asked if I can shed more light on how investors can calculate interest on their money market fund investment.

Understanding Investment Bias: What influences investors’ decisions?

The benefit of behavioural finance is that investors are able to recognize these behavioural biases and take corrective actions to avoid financial losses.

STOCK IDEAS

How regulatory changes and tempered yield environment impacted Stanbic IBTC’s earnings

Stanbic IBTC grew its revenue by 2.27% to NGN58.69bn, supported by the 5.47% growth in interest income while non-interest income remained relatively flat at N27.00 billion.

MTN Nigeria gets a wildcard entry in this week’s watchlist

@MTNNG leads this week's watchlist due to record demand for the stock by investors, following its listing.

MTN’s listing by introduction: Should you buy, sell or wait and see?

MTN Nigeria has listed its shares on the Nigerian Stock market (NSE) as the telco-giant received regulatory approval from SEC and NSE to list 20.3bn units of shares at a price of N90 per share.

Guinness Nigeria is a SELL

@guinnessngr is a SELL in Nairametrics opinion due to the poor fundamentals of the brewery industry.

Mutual Funds

Daily Update: T-Bills Market turns bearish as CBN resumes OMO sales

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.

ATTENTION: DV Balanced Fund to become a Money Market Fund

Vetiva Asset Management Company has requuested unitholders of DV Balanced Fund to attend a meeting in Lagos on May 28th by 11:00 am.

Daily Update: Bond auction rates clear c.34bps lower following 271% over subscription

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills. This is brought to you by Zedcrest.

What You need to know about Stanbic IBTC’s Shari’ah Fixed Income Fund (“SFIF”)

Stanbic IBTC Asset Management Limited is offering 10 million units of the Stanbic IBTC Shari’ah Fixed Income Fund (SFIF) through an Initial Public Offer (“IPO”) at a par value of N100 per unit.
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SME Zone

14 ways to turn your small business into an asset of value

As an entrepreneur, there’s only one goal you should be aiming at – "To turn your business into a wealth-creating asset of value.’’ This perspective is according to renowned Venture Capitalist and Business Growth Accelerator, Pavlo Phitidis. 

6 easy ways to market your new business on the internet

Internet marketing is a necessity for every business that wants to go far. Having an online presence will help you establish your expertise.

Why you need emotional intelligence to successfully run a business

Basically, emotional intelligence (EQ) is the ability to recognise, understand, and manage one’s feelings and emotions, as well as those of others.

Building a side business as a 9-5 worker? Here are the things you should know

In a world where everyone is looking for extra income through numerous side hustles, it is a great idea to know how best to balance one's regular day job so that it does not conflict with the hustle.

Corporate Stories

Cement Wars: The battle for Cement dominance between Ibeto vs Dangote

A story of the battle for Cement dominance in Africa's largest economy, Nigeria.

Corporate Story: The rise and fall of HiTV

In this latest installment of Corporate Stories, we are going to tell the story of a young man, who dared to take on a...

Corporate Stories: The back story behind the UBA & STB Merger

In this month's episode, we tell the story of how one of the biggest deals in Nigeria's corporate history was executed with the heart...

#CorporateStories: Tiger Brands’ misadventure into Dangote Flourmills

This is a short account of the activities that underpinned Dangote Flour Mills’ remarkable 288% share price rally in 2016. The precursor to this,...
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Corporate Profiles

Notable businessmen who changed the political game in 2019

In retrospect, we look back at the 2019 election, with special focus on some of the business executives who ventured into politics by running for various elective positions.

On this day, we celebrate top Nigerian women in business

Today is International Women’s day, a global, annual event specially dedicated to celebrate women and their many accomplishments.

Fidson’s plan to dominate the pharmaceutical space in the next 10 years

Fidson Healthcare Plc held a breakfast meeting with shareholders to provide details of a N3 billion rights issue. Nairametrics had an exclusive interview with the Founder/Managing...

CEOs of some NSE companies that may declare losses for 2018 – Part 2

Last week, we brought you the first part of a list of some Chief Executive Officers of NSE-listed companies that may end up declaring losses for full-year 2018.

Podcast

BHH Podcast: Peace Obule has advice for entrepreneurs with dreams of venturing into Fintech

On this episode of the #BHHPodcast, Bukola and @Taioyewole had StrateCore Dynamics' @peaceobule gives tips on venturing into the world of fintech.

EMM Podcast: Ugodre analyses the “Uber-for-portable-toilets” business idea

On this episode of the #EMMPodcast, @Ugodre explains the "Uber-for-portable-toilets" business idea, where can one invest N1 million, and borrowing from Microfinance banks.

BHH Podcast: How technology can provide opportunities for Small business in the healthcare sector Part 2

On this episode of the #BHHPodcast, The co-founder of @SwiftMedispark, @ugopreneur joins @Taioyewole and Bukola to discuss how technology can provide opportunities for small businesses in healthcare.

BSJ Podcast: Do you love me or do you love my stock picks?

A Financial Analyst wonders if her boyfriend really cares for her or just her knowledge of the stock market. This is #BSJPodcast