MICDEE, a leading provider of innovative workspace solutions, proudly announces the successful completion of a high-profile project for MTN. This milestone marks a significant achievement in our ongoing commitment to delivering exceptional workspace solutions tailored to the unique needs of our clients. Our recent project for MTN underscores MICDEE’s dedication[Read More…]
Author: Godwin Anyebe
Analysts warn of naira depreciation amid N311bn equity sell-off
Financial analysts have expressed concerns over the recent trend of high foreign liquidation in the Nigerian Exchange with N311.41bn worth of investments withdrawn in the first half of this year. This has sparked fears of naira devaluation and its potential impact on the Nigerian economy. According to the NGX, in[Read More…]
Investors gain N263bn as equity market rebounds
The Nigerian Exchange Limited reversed the previous trading session’s loss driven by investors’ demand for some of the small and mid-cap stocks leading to a gain of N263bn. Consequently, the All-Share Index rose by 0.47 per cent to close at 100,503.21 points, reflecting robust buying interest across various counters. Similarly,[Read More…]
Honeywell, Seplat drag equity market to N188bn loss
Investors lost N188 bn on the Nigerian Exchange Limited recently due to declines in the share prices of Ikeja Hotel, Honeywell Flour, and Seplat Energy. Ikeja Hotel shed 9.29 per cent to close at N6.35 PZ, Honeywell flour lost 8.41per cent to N3.16 and Seplat Energy declined by 8.30 per[Read More…]
Zenith Bank seeks NGX approval to sell 5bn shares through rights issue
Zenith Bank Plc has sought approval from the Nigerian Exchange (NGX) Limited to sell 5.23 billion shares through rights issue to raise N188.37 billion. According to a statement recently signed by Godstime Iwenekhai, head of the issuer regulation department at NGX, the qualification date for the rights issue is July[Read More…]
Exciting Prizes to be Won with FirstBank Visa Gold and Visa Infinite Cards in the 2024 Summer Campaign
FirstBank, the West African premier financial institution and financial inclusion services provider announces its continuous VISA Cross Border and Summer campaign in partnership with VISA. The campaign, which commenced on 1 April 2024, is set to run until 31 August 2024 as a rewarding initiative for existing VISA Gold and[Read More…]
OPay Gets Court Order to Restrict Customer Accounts over ₦714m System Glitch
OPay, Chinese-backed fintech giant has received approval from a Federal High Court in Lagos to freeze customer bank accounts in thirty listed banks as part of a process to recover ₦714 million received by customers during a system glitch. A TechCabal exclusive has that the system glitch occurred from December[Read More…]
Hope PSB hit by ₦6.5 billion cyberattack, seeks legal recourse for recovery
Hope Payment Service Bank, the self-described “premier digital-first bank in Nigeria,” has begun a legal process to recover ₦6.5 billion fraudulently obtained from its banking platform by unknown persons. “On about July 15, 2024, there was unauthorised access to the Plaintiff’s banking platform, following which huge sums of money were[Read More…]
Fitch Revises Outlooks on FBN Holdings, First Bank of Nigeria
Fitch Ratings has revised the Outlooks on FBN Holdings Plc’s (FBNH) and its main operating subsidiary First Bank of Nigeria Ltd.’s (FBN) Long-Term Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at ‘B-‘. The revision of the Outlooks mirrors the recent sovereign outlook revision and reflects[Read More…]
Cordros Asset Management Announces Date for Second Annual Wealth Summit
Cordros Asset Management, a subsidiary of Cordros Capital, one of Nigeria’s leading financial services firms is thrilled to announce the second edition of its Annual Cordros Wealth Summit, themed “The Wealth Revolution.” According to a statement made available to newsmen recently in Lagos, the exclusive, invitation-only event will take place[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]