Category: Business

Dangote blames retailers for high cost of cement
Business

Dangote blames retailers for high cost of cement

Kunle Adeleye- April 15, 2021

Dangote’s Group Executive Director, Strategy, Portfolio Development & Capital Projects, Devakumar Edwin, has expressed surprise that its cement products are sold at an higher price ... Read More

BUA receives active refinery license to compete with Dangote
Business

BUA receives active refinery license to compete with Dangote

Kunle Adeleye- April 15, 2021

The Department of Petroleum Resources has revealed that BUA group received a license renewal with 27 other investors. The agency had posted the names of ... Read More

NSE ROUNDUP: Easter holiday affect stock market activities, drag capital investment down
Business

NSE ROUNDUP: Easter holiday affect stock market activities, drag capital investment down

Kunle Adeleye- April 4, 2021

The stock market closed for the week on Thursday due to the Easter break announced for Friday, April 2, 2021 and Monday, April 5, 2021. ... Read More

CBN Suspends All Loans To NIRSAL As Corruption Scandal Rocks Anchor Borrowers,
Business

CBN Suspends All Loans To NIRSAL As Corruption Scandal Rocks Anchor Borrowers,

Paul Fakayejo- April 3, 2021

The Central Bank of Nigeria has halted all further disbursements to the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Peoples Gazette can report, ... Read More

Access Bank Acquires Grobank, South African Bank
Business

Access Bank Acquires Grobank, South African Bank

Paul Fakayejo- March 31, 2021

Access Bank paid about $60 million to purchase a controlling interest in South Africa’s 74-year-old Grobank, its CEO said Tuesday, signalling the culmination of the ... Read More

Here are figures that prove bitcoin is investor’s best asset, as Gold loses value
Business

Here are figures that prove bitcoin is investor’s best asset, as Gold loses value

Kunle Adeleye- March 31, 2021

The most popular cryptocurrency, bitcoin, is now sitting comfortably above gold as the most valuable asset despite lacking a global recognition as an investment vehicle ... Read More

FCMB non-performing loan increases by over N800m to N28.56bn
Business

FCMB non-performing loan increases by over N800m to N28.56bn

Kunle Adeleye- March 30, 2021

First City Monument Bank (FCMB) non-performing loans rose in 2020 when compared to what the lender recorded during the corresponding period of 2019. The creditor’s ... Read More

NSE ROUNDUP: Financial services most active, as Japaul Gold, MRS Oil close week as losers
Business

NSE ROUNDUP: Financial services most active, as Japaul Gold, MRS Oil close week as losers

Kunle Adeleye- March 28, 2021

This week at the stock exchange, investors traded a total turnover of 1.530 billion shares worth N21.311 billion in 20,016 deals, against the previous week’s ... Read More

Dangote Cement offers N16 to shareholders after posting N1.03tr revenue in 2020
Business

Dangote Cement offers N16 to shareholders after posting N1.03tr revenue in 2020

Kunle Adeleye- March 25, 2021

Dangote Cement has offered N16 dividend to its shareholders after recording N1.03 trillion revenue last year. The company disclosed this in 2020 financial statements released ... Read More

Questions as Segun Agbaje remains GTBank MD 3 months after promised replacement
Business

Questions as Segun Agbaje remains GTBank MD 3 months after promised replacement

Kunle Adeleye- March 22, 2021

Guaranty Trust Bank (GTBank) is in the process of transforming into a Holding Company, but before the end of the restructuring, GTBank’s Chief Executive Officer, ... Read More

NSE ROUNDUP: Nigeria’s stock market performance in the last five days
Business

NSE ROUNDUP: Nigeria’s stock market performance in the last five days

Kunle Adeleye- March 21, 2021

At the end of stock market this week, investors traded 2.342 billion shares worth N19.272 billion in 20,173 deals. This shows market participation was low ... Read More

Cryptocurrency: Nigerians Are Free To Use Bitcoin – CBN
Business

Cryptocurrency: Nigerians Are Free To Use Bitcoin – CBN

Paul Fakayejo- March 20, 2021

The Central Bank of Nigeria (CBN) said there was no time the bank banned the activities of Cryptocurrencies in the country. Read Also: Ben Murray-Bruce ... Read More

Nigeria’s economic growth prospects remain weak —CBN
Business

Nigeria’s economic growth prospects remain weak —CBN

Kunle Adeleye- March 19, 2021

The Central Bank of Nigeria (CBN) has stated that the growth projection for the country’s economy remain weak. This is despite the reopening of the ... Read More

Crude oil price slumps in favour of Nigerians, but fuel hike lingers
Business

Crude oil price slumps in favour of Nigerians, but fuel hike lingers

Kunle Adeleye- March 19, 2021

Crude oil price fell below $64 following weeks of surge in market price. The Brent crude price, which is also used as a price indicator ... Read More

Nigeria spends N2.88bn daily to keep fuel price at N162-N171. Here is why
Business

Nigeria spends N2.88bn daily to keep fuel price at N162-N171. Here is why

Kunle Adeleye- March 15, 2021

On Friday, Nigerians woke up to the news that the price of petrol in the country has been increased to N212.61 per litre. The increment ... Read More

DPR approved 14 refineries in 2020 – Report
Business

DPR approved 14 refineries in 2020 – Report

Kunle Adeleye- March 15, 2021

The Department of Petroleum Resources (DPR) granted licences to 14 private investors to build refineries in the country last year. The agency disclosed this in ... Read More

Bitcoin investors lose close to $2,000 as gold pushes crypto aside
Business

Bitcoin investors lose close to $2,000 as gold pushes crypto aside

Kunle Adeleye- March 11, 2021

The last 24hours have been one hell of a battle between cryptocurrency Bitcoin and Gold, as both assets struggled to be the most valuable asset ... Read More

Lasaco, Access Bank, GTBank, Morison, Champions Brew make Wotzup Nigeria Stocks-to-watch list
Business

Lasaco, Access Bank, GTBank, Morison, Champions Brew make Wotzup Nigeria Stocks-to-watch list

Kunle Adeleye- March 9, 2021

Amid several trade activities last week, few companies in the Nigerian stock market caught the eyes of Wotzup Nigeria Stocks Watchlist through their capital market ... Read More

ICYMI: What should Nigeria expect from CBN Naira 4 Dollar Scheme? Bangladesh, Pakistan give clues
Business

ICYMI: What should Nigeria expect from CBN Naira 4 Dollar Scheme? Bangladesh, Pakistan give clues

Kunle Adeleye- March 8, 2021

On Saturday, the Central Bank of Nigeria (CBN) took to its website to announce the introduction of the CBN’s “Naira 4 Dollar Scheme” for Diaspora ... Read More

NSE ROUNDUP: Too losers, gainers  for last week
Business

NSE ROUNDUP: Too losers, gainers for last week

Kunle Adeleye- March 6, 2021

Investors traded more shares during trading last week, as the Nigerian Stock Exchange (NSE) reported a total turnover of 2.092 billion shares worth N29.744 billion ... Read More