Nigerian stock market rebounded on Wednesday after a two-day loss, with investors gaining N1.184 trillion. The market capitalisation rose by N1.184 trillion, or 1.63%, to close at N73.681 trillion. The All-Share Index (ASI) also rose by 1,876.71 points, or 1.63%, settling at 116,786.87. According to the market report, “This...
investment
By MBAFAN ADE, Abuja- The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under ST Technologies International Ltd., remains banned in Nigeria. In a public notice, the commission warned Nigerians to refrain from patronizing or transacting with CBEX, citing unauthorized investment activities. “We unequivocally...
By EMMANUEL KUJE, Abuja- The Economic and Financial Crimes Commission (EFCC) has filed a three-count charge against Avwerosuo Otorudo and Chukwuebuka Ehirim, promoters of Crypto Bridge Exchange (CBEX), over alleged investment fraud totaling over $1 billion. The EFCC accuses the duo of: Operating an unregistered company and administering a...
Federal High Court in Abuja has ordered the remand of Mr. Jesam Michael, CEO of Afriq Arbitrage System (AAS) Limited, in Kuje Correctional Centre over alleged investment fraud. Justice Obiora Egwuatu refused Michael’s bail plea, citing the gravity of the offence and weight of evidence against him. The Economic...
Stock market began the week on a positive note on Monday as investors gained N173 billion and performance indices soared by 0.25per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation climbed by N173 billion, rising to N70.635 trillion from N70.462 trillion on Friday. The All-Share Index also increased...
The Presidential Compressed Natural Gas Initiative (P-CNGI) has said the CNG sector has attracted over 500 million dollars investments and created over 10,000 direct jobs. The P-CNGI said that 255 new conversion centers that did not exist in 2024 and 53 daughter stations existed currently. Programme Director/Chief Executive Officer,...
The stock market on Friday closed the week on a bearish note, as key performance indicators dipped by 0.07 per cent. Specifically, the market capitalisation declined by N48 billion, or 0.07 per cent, to N70.462 trillion from N70.510 trillion recorded on Thursday. The All-Share Index also dropped by 0.07...
By DAVID IORJA, Abuja – Nigeria’s solid minerals sector, driven by the Tinubu administration’s new policy of local value addition and a tightened licensing regime, attracted over $800 million in processing projects last year. The sector also generated over ₦38 billion in revenue in 2024, up from just ₦6 billion...
President, Dangote Group Alhaji Aliko Dangote, on Wednesday advised governments at all levels to encourage domestic investors, nothing that only local investors can attract foreign investors in Nigeria. Dangote gave the advice at the Taraba International Investment Summit (TARAVEST) 2025 held in Jalingo. The News Agency of Nigeria reports...
TMinister of Information and National Orientation, Alhaji Mohammed Idris, has said the President Bola Tinubu-led administration has attracted over $450 million into the development of Nigeria’s Compressed Natural Gas (CNG) value chain. Idris stated this during his remarks at the Nigeria Public Relations Week (NPRW 2025) on Tuesday in...
The Presidency has said Nigeria attracts over 8 billion Dollar (about N12.8 trillion) investments in deepwater projects and gas Final Investment Decisions (FIDs) in one year. Olu Verheijen, Special Adviser on Energy to President Bola Tinubu disclosed this on Wednesday, at the 2025 Africa CEO Forum holding in Abidjan,...
Vice-President Kashim Shettima said with critical reforms in key sectors of the economy, Nigeria is ripe for investments. Shettima stated this on Tuesday when he hosted a delegation from the Islamic Development Bank (IsDB), at the Presidential Villa, Abuja. The News Agency of Nigeria (NAN) reports that the delegation...
President Bola Tinubu has said Nigeria is ready to partner Qatar to explore opportunities in the agricultural sector. The President said this while receiving Dr Mohammed bin Abdulaziz Al-Khulaifi, a special envoy from the Amir of the State of Qatar, at the State House on Friday. Al-Khulaifi, Qatar’s Minister...
The Nigerian stock market opened the week on a bullish note on Monday, gaining N228 billion on the Nigerian Exchange Ltd. Market capitalisation rose by N228 billion or 0.34 per cent and closed at N66.693 trillion compared to Friday’s figure of N66.465 trillion. Similarly, the All-Share Index (ASI) climbed...
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured investors that Nigeria is safe for investment. Edun said this at the Nigeria Investment Forum, at the ongoing World Bank/International Monetary Fund (IMF) Meetings in Washington D.C. on Wednesday. According to the Minister, efforts are geared...
Kano State Government has said it will attract over 10 billion dollars investment in renewable energy and solid minerals development from its partnership with prestigious Moroccan companies in the next five years. The state government also said the stage was set for the signing of a series of investment...
A Coalition of Civil Society Organisations has called for investigation into the $1.5 billion investment in Port Harcourt Refinery by the immediate past Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari. The coalition, Situation Room on Transparency and Accountability, led by its Convener,...
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has advised African countries to overhaul their development models, embrace investment-led strategies instead of continuing to rely on aid for economic growth. Adesina gave the advice while delivering a keynote at the 14th Convocation Ceremony of the National...
By AMOS MATHEW, Kaduna – The Ambassador of Italy to Nigeria, His Excellency, Lacopo Foti, has expressed his country’s readiness to support Kaduna State Government’s investment drive, by encouraging Italian companies to invest in the State. Mr Foti who made the pledge when he paid a courtesy call on...
Vice-President Kashim Shettima has said Nigeria is on a new growth trajectory, welcoming investments across different sectors. Shettima said this on Tuesday at the Presidential Villa, Abuja, during an update meeting with some Ministers and Heads of agencies ahead of the forthcoming Nigeria-Brazil Strategic Dialogue Mechanism. According to Shettima,...