Month: July 2024

Zenith Bank Slumps as Investors Trade Huge Volume Following the announcement of the group rights issue and public offer, negative trading on the lender’s stock caused Zenith Bank Plc’s market…

Huge Loss Damages Nestle Nigeria Earnings, Equity Capital Nestle Nigeria Plc’s earnings performance was damaged by a significant increase in foreign exchange losses in the first half of 2024; the…

Nigerian Eurobond Yield Climbs to 10.14% over Selloffs – Traders The average yield on Nigeria’s sovereign Eurobonds faced selling pressure in the international market on Tuesday ahead of the national…

International Breweries Net Loss Grows by 352% to N106.78bn A huge foreign exchange loss that emanated from International Breweries Plc’s foreign currency liabilities has damaged the company’s earnings, according to…

Naira Disappoints as FX Market Crisis Gets Messy The naira traded negatively against the US dollar in the official and informal currency market due to sustained foreign currency liquidity challenges.…

NMDPRA Reviews Midstream, Downstream Petroleum Fees Regulations The Nigerian Midstream and Downstream Petroleum Regulations Authority (NDMPRA) says its proposed Midstream and Downstream Petroleum Fees Regulations will consolidate fees prescribed for…

Zenith, Nestle Selloffs Drag NGX Down by N171bn Selloffs in Zenith Bank and Nestle Nigeria plc dragged the Nigerian Exchange (NGX) downward by more than N171 billion on Tuesday, according…

16 Vessels to Berth at Lagos Ports With Petroleum, Other Goods The Nigerian Ports Authority (NPA) says 16 ships are awaiting to berth at the Lagos ports. This is disclosed…

COVID-19 Looms Over Olympics With Several Athletes Testing Positive Three years after the Tokyo Olympics were held amid strict precautions and with no fans because of the global COVID-19 pandemic,…

Africa Air Cargo Increases by 11.8% The International Air Transport Association (IATA) says cargo volumes for African airlines increased by 11.8 per cent Year-on-Year (YoY) in June. In a report…