The market capitalisation of the Nigerian Exchange Limited dropped below N30tn last week, weeks after it crossed the mark, leading to a loss of N476bn for investors.
This bearish trend started on Monday with investors losing N3bn to close at N 30.391 tn. On Tuesday, the market cap lost N36bn to close the day at N30.355tn. On Wednesday, the pattern was sustained as investors lost N127 billion and…
Fast Moving Consumer Goods, Unilever Nigeria, has said that it will be exiting the home care and skin cleansing markets to reposition its business for sustained profitability.
This was revealed in a corporate notice to the Nigerian Exchange Limited and signed by its Company…
The federal government has announced plans to award subsidies to mini-grid developers for the deployment of solar power mini-grids to 150 underserved and unserved electricity sites across seven states.
The government announced this in a statement issued by the Rural…
Real estate development activities in Lagos, the country’s commercial hub, plunged by 14 per cent in 2022 as a result of heightened election uncertainty, currency challenges and inflation, an Intel report said.
The report titled “Lagos Real Estate Development Pipeline Report” disclosed that despite its volatility, the real estate market has remained resilient with bright spots emerging…
Telecommunications company, MTN Nigeria, has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited.
This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold…
New Zealand will ban Chinese-owned social media app TikTok from lawmakers’ devices, officials told AFP Friday, becoming the latest Western nation to act on security fears about the platform.
TikTok will be banned on all devices with access to the parliamentary network…
Less than a month after hitting N30 trillion in market capitalization, the Nigerian Exchange Limited has suffered N313bn loss to dip to N29.915 trillion.
The market cap dropped by 1.04 in percentage terms, the same percentage as the All Share Index, which dropped 574.59 basis points to settle at 54. 915.61.
In terms of exchanges, a total of 137,286,570 volume of shares worth N1.509bn were traded…
The Federal Government has commenced steps to install $8m (about N3bn) 1x60MVA, 132/33KV transmission sub-station in Oro in the Irepodun Local Government Area of Kwara State.
The project is expected to transform the lives of the people of Oro in particular and the entire…
Microsoft on Thursday announced a new Artificial Intelligence-powered Copilot for its Microsoft 365 apps and services. The AI-powered Copilot is designed to assist users with generating documents, emails, presentations, and much more.
Today, we are bringing the power of…
The Lagos State Police Command has arraigned a fraud syndicate comprising eight men before the Federal High Court in Lagos for allegedly hacking into the server of an electronic platform, ITEX Integrated Services Limited, and stealing N435.3m.
The defendants including Aderuku Adedayo, Adigun Benjamin, Awopetu Tosin, Ajibade Ayomide, Ojo Olwaseun, Miller Oluwafemi, Olaleye Samuel and Ajibade…