Rams sell as low as N21,000 in major markets as sellers witness mixed turnouts

Rams sell for as low as N21,000 in major markets as sellers witness mixed turnouts   

Eid-El-Kabir celebration is here and Nigerians are already enjoying the fanfare that comes with the season. Findings from major markets visited by the Research Team show that the prices of rams dropped.
Business half hour BHH Podcast, Weprototype

BHH Podcast: Mayowa Okegbenle on how WePrototype Technologies is bridging the mobile app development...

On this episode of the #BHHPodcast, @bukola23 and @taioyewole had the CEO of @weprototype_app talk about how they are bridging the mobile app development gap.
Oil revenue, Trouble as crude oil price drops

Trouble as crude oil price drops to a 7-month low, hits $57 a barrel

The price of crude oil has posted a 7-month low, declining by 4% to $57 a barrel in two days. This is the first time oil price would post a huge fall since January 2019.
Foreign reserves, Nigeria’s External reserves

Nigeria’s external reserves slip below $45 billion in just two months

Nigeria’s external reserves have continued to drop in recent weeks and officially slipped below $45 billion, the height it climbed just barely two months ago
ABCON shakes the table, Nigeria imported

Nigeria imported 5.6 billion litres of Petrol in Q2 2019, up by 5%

Nigeria imported 5.61 billion litres of premium motor spirit (petrol) in the second quarter of 2019. According to the NBS [@nigerianstat] report, the volume of petrol imported in Q2 2019 is 5% higher than the 4.87 litres in Q1 2019. 

Court freezes Lagos government’s accounts over alleged fraud

Three bank accounts belonging to the Lagos State Government (@followlasg) have been frozen by a Lagos Federal High Court today, placing a restriction on any transaction by the State government. The affected accounts are domiciled in @MyFCMB, @myaccessbank, and @ZenithBank.
President Muhammadu Buhari, loans, Oil price

Critical times loom for Nigeria as oil price dips below $60 budget benchmark

Oil price dropped to below $60 a barrel in the early hours of Tuesday. This is the first time crude oil price would fall below $60 since January 2019.

Diageo to invest $219 million in renewable energy in Nigeria, six others

Diageo, the owner of Guinness Nigeria, has on Monday, announced that it would pump $219 million into sustainability projects (renewable energy and water recycling systems) in 7 of its African breweries.
FAAN Recruitment scandal, Nigerians hit with over 60% delayed and cancelled domestic flights in 2018, Nigerian Airlines

Nigerian airlines record 54% delayed domestic flights in two months

The latest report on domestic and international flight operations released by the Nigerian Civil Aviation Authority shows that 54% of domestic flights were delayed between May and June 2019.
Nigeria’s Pension Fund Asset Value

Nigeria’s pension contributors add N186.43 billion to pension asset

Pension fund assets in Nigeria increased by N186.43 billion in the first quarter of 2019 to push the total pension assets to N9.03 trillion. This is according to the latest report released by PenCom [@PensionNigeria]
Food Items, Prices of imported rice

Prices of imported rice and other items fall as Irish potatoes fluctuate 

As Eid-el Kabir celebrations draw close, Nairametrics Research visited major markets in Lagos State to obtain the prices of major food items and insights for our readers. Survey shows that prices of imported rice declined

N3.6 billion Debt: AMCON takes over Bao Yao Firms in Abuja and Calabar

The Hon. Justice B.F.M. Nyako of the Federal High Court has ordered AMCON to take over all the assets of two steel companies over a staggering indebtedness of over N3.6billion.
Insurance Firms

See the “score card” as insurance firms hurriedly release H1 2019 results

As July was drawing to a close, many listed companies on the NSE were in a rush to file their H1 2019 unaudited financial statements. Among them were about eighteen insurance firms.

Fine: MTN wants tribunal to overule FIRS on tax deduction

The telecommunication giants, MTN Nigeria, has asked a tax tribunal to quash the decision to pay corporate tax on the N330 billion fine for...
Contract staffing in Nigeria Banks, Nigerian Banks

‘Banks lost N15billion to fraud, cyber-crime in 2018’

The Nigerian banking industry lost N15.15 billion to cyber-crime and forgeries in 2018. This amount was 539% higher than the N2.37 billion recorded in 2017. This...
Standing Deposit Facility, 12 states

12 states received $15 billion investment in H1 2019 – NIPC

The latest report released by the Nigerian Investment Promotion Commission revealed that twelve (12) states in Nigeria received investment worth US$15 billion in the first half of 2019.

NDIC: 153 Micro-finance Banks’ licenses revoked in 2018

NDIC has revealed that the licenses of 153 Micro-Finance Banks (MFBs) were revoked in 2018 with cumulative ₦116.2 billion paid to depositors, creditors and shareholders.
Skye Bank, NDIC

‘NDIC safeguarded N949.6 billion depositors’ funds from Skye Bank’

The Nigeria Deposit Insurance Corporation (NDIC) has revealed it safeguarded N949.6 billion depositors' funds during the resolution of the failed Sky Bank Plc. The development was disclosed by the NDIC in its latest annual report covering 2018.

Nigerian Eurobonds Dip Following Less Dovish US FED Stance

This is the summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and FGN Bonds.

NNPC to extend trade relations with Turkey

The Nigerian National Petroleum Corporation (@NNPCgroup) has stated its desires to extend the trade dealings between Nigeria and the Republic of Turkey.
Nigerian Stock Exchange, NSE lifts suspension on Lasaco Assurance, NSE suspend companies, NSE lift suspension, NSE lift suspension on Conoil, Conoil and SEC, Ellah Lakes appoints new Managing Director, Ellah Lakes appoints Chuka Mordi, Ellah Lakes acquires Telluria Limited, Nigerian Stock Exchange NSE, NSE X Compliance report, Great Nigeria Insurance, Nigeria Stock Exchange, Delisting, VAT

Fidson, Berger Paints end trading as best stocks

@nsenigeria ended Thursday’s trading session in positive territory. The All Share Index closed at 27,748.46 basis points, up 0.11%. Year to date, the index is down by 11.71%.

Manufacturing Index shows 11 ‘performing’ businesses in Nigeria

The Central Bank of Nigeria [@cenbank] has released the latest Purchasing Managers’ Index (PMI) for July 2019 and it shows that Nigeria’s manufacturing sector keeps expanding with 11 thriving manufacturing businesses.
FIRS demands tax payment from MTN Nigeria

MTN loses 178,000 internet subscribers over ‘data concerns’

[@MTNNG] total internet subscribers dropped by 178 thousand in June. Meanwhile, [@9MobileNGCare] continued its free fall as the company recorded another decline in total subscribers for over 2 years consecutively.
Unity Bank Plc

Unity Bank’s H1 2019 results indicate 96% growth in profit

Unity Bank Plc recently joined the list of companies on the Nigerian Stock Exchange that have released their financial statements for the half-year period ended June 2019.
FCMB, NSE, Nigerian stocks, Nigerian stock exchange

Dangote Sugar joins losers’ bandwagon as NSE closes bearish

@nsenigeria ended Wednesday’s trading session in negative territory with @Dangote_Sugar among the top losers.
GlaxoSmithKline Consumer Nigeria Plc

GlaxoSmithKline releases consolidated half-year report, revenue rises by 15.9%

Drug manufacturer, GlaxoSmithKline Consumer Nigeria Plc, has released its consolidated financial statements for half-year 2019.

Canada invites 49,000 potential immigrants in seven months, scores drop again

The latest draw by the Canada Government has taken the number of candidates invited to apply for the Canadian Permanent Residency to 49,000. It was further revealed that the Comprehensive Ranking Score cut-off dropped to 459
Dangote Sugar Refinery

Dangote Sugar Refinery’s profit declines in H1 2019

Dangote Sugar Refinery Plc recorded a generally unimpressive financial performance in the first half of 2019, according to its consolidated Q2 financial statements. 
Seplat Petroleum

Seplat Petroleum’s H1 profit increases by 152.6%

Seplat Petroleum Development Company Plc has released its half-year 2019 result. According to the result, the company recorded a 152.6% increase in its Profit After Tax (PAT).
sound, C & I Leasing Plc, NSE launches factbook, Top 10 stockbroking firms

Mutual Benefits, Unity Bank make best stocks list, NSE ends trading in negative

@nsenigeria ended Tuesday’s trading session in negative territory. The All Share Index closed at 27,820.57 basis points, down 0.46%. Year to date, the index is down 11.49%.
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GTBank, acquisition

GTBank in acquisition talks

Chief Executive Officer of GTBank Segun Agbaje has said that the bank is making plans to expand its market base beyond its present locations.
Frus, FBI, 80 Nigerians

FRAUD: FBI releases names of 80 Nigerians

Not less than 80 Nigerians have been put in the public domain by the United States Government over fraudulent activities, the FBI termed to be one of the massive frauds that have gone down in history.
FBI, Jenna

FBI’s list of 80 Nigerians indicted for fraud : Nigerians react

Following the FBI’s release of a list containing about 80 Nigerians who were involved in a money laundering case, Nigerians have taken to social media platform, Twitter to react and express their views on the matter.