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United Capital acquires 5% equity stake in NGX
Investment firm, United Capital Group has announced the acquisition of a 5 per cent equity stake in the Nigerian Exchange Group (NGX) Plc. The acquisition which was disclosed in a statement issued on Monday, June 15 and signed by the…
NGX’s ASI climbs by 0.27%, as PMI rises to 54.1% in May
Nigerian Exchange (NGX) All-Share index edged up 0.27 per cent amid decreasing liquidity, just as the Purchasing Managers’ Index (PMI) jumped to 54.1 all in May 2026, according to the Exchange and StanbicIBTC reports. According to the NGX report covering up…
Elon Musk becomes world’s first trillionaire, as successful SpaceX IPO shoots net worth above $1.1trn
South African-born tech magnate, Mr Elin Musk has (on paper) become the world’s first trillionaire. The feat follows the businessman’s initial public offering (IPO) of his company, SpaceX’s shares soaring his net worth when it hit the stock market. The…
DMO revises Q2, 2026 NTBs, raising offer by 22% to N4.8trn
Debt Management Office (DMO) has increased its Nigerian Treasury Bills (NTBs) issuance programme for the second quarter of 2026 by approximately N850 billion, raising the total planned offer amount from N3.95 trillion to N4.8 trillion, according to an analysis of…
AIICO tops industry rankings, voted 2026 best insurance firm at prestigious Capital Market Awards
AIICO has been voted Insurance Company of the Year 2026 at the Nairametrics Capital Market Awards, emerging as the top performer among its peers in a category designed to recognise excellence across Nigeria’s insurance landscape. The Nairametrics Capital Market…
Foreign portfolio investment drives Nigeria’s capital inflow, despite FDI slump by 80% — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year, even as capital from foreign portfolio investment surged. The regulatory bank,…
FDI drops by 80%, as portfolio investment drives increased capital inflow — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest release, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year. The regulatory bank attributed the drop to foreign investors increasingly…
FirstHoldCo shareholders approve capital raise to N253.099, as group targets N1tn
Shareholders of First HoldCo Plc have approved plans by the Board to shore up the capital base of the group to N253.099 billion as it aims to hit a paid-up capital of N1 trillion, comprising share capital and share premium….
Stock market losses N1.62trn, as CBN retains interest rate at 26.50%
Central Bank of Nigeria (CBN) has retained the country’s Monetary Policy Rate (MPR) at 26.50 per cent. The CBN Governor, Mr Olayemi Cardoso, who disclosed this during a press briefing at the end of the 305th Monetary Policy Committee (MPC) meeting…
CBN opens N650bn offer for NTBs auction
Central Bank of Nigeria (CBN) has opened for offer N650 billion worth of Nigerian Treasury Bills (NTBs) at its scheduled auction, Wednesday in what marks the second issuance for the month under the Federal Government’s second-quarter borrowing programme. The auction,…
