Business News Report

Nigerian Stock Market sustains gain… ASI Advances 0.7%

The local bourse closed in the green as the All-Share Index rose 71bps to 21,073.26 points due to gains in WAPCO (+9.8%), DANGSUGAR (+9.6%) and ZENITH (+2.3%). Consequently, YTD loss eased to -21.5%...

Afreximbank income hits $1bn mark: 2019 Financial Results show strong performance

The African Export-Import Bank (Afreximbank) today in Cairo released its audited financial statements for the year ended 31 December 2019, showingstrong and consistent growth, with total...

COVID-19: NIMASA presents ventilators, response vessels, ambulance to Lagos state

The Director General, of Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Bashir Jamoh has presented a number of medical equipment and items including ventilators, Ambulance,...

Bargain hunting buoys performance… ASI up 1.2%

Today, the All-Share index gained 124bps to 20,925.19 points following bargain hunting in MTNN (+3.0%), ZENITH (+7.5%) and UBA (+9.0%). Accordingly, YTD return moderated to -22.0% while investors gained ₦133.3bn as market capitalisation...

IMF confirms Nigeria’s request for assistance under rapid financing instrument

International Monetary Fund IMF, has confirmed that Nigeria has asked for financial assistance from the multilateral institution to fight covid-19 under the rapid financing instrument. IMF...

BPE distributes food items to less privileged in Abuja on COVID-19 lockdown

Bureau of Public Enterprises (BPE), Director General Mr. Alex A. Okoh has donated  300 bags of assorted food items to the less-privileged on behalf of BPE...

COVID – 19: FIRS offers palliative measures to cushion effects on taxpayers

The Federal Inland Revenue Service (FIRS), in its response to the impact of the Coronavirus on its operations, has launched business continuity plan and measures to...

COVID-19 Lockdown: NNPC commends tanker drivers for hitch-free distribution of products

The Nigerian National Petroleum Corporation (NNPC) has commended Petroleum Tanker Drivers (PTD) for their sacrifice ferrying petroleum products across the nook and cranny of the Country,...

Russia, Saudi ‘very close’ to oil deal, Moscow negotiator tells CNBC

Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts, Kirill Dmitriev, head of Russia’s sovereign wealth fund, told CNBC on...

FG requests $6.9bn from IMF, World Bank to fund covid-19 fight, Buhari approves N500bn crisis intervention fund

Federal Government has requested $6.9 billion from World Bank, International Monetary Fund and Africa Development Bank to combat the social economic impact of the coronavirus pandemic...

Apple donates 20 million masks, working to make 1 million face shields a week—Tim Cook

Amid a shortage of protective equipment for health-care workers treating coronavirus patients, Apple Inc. has donated more than 20 million face masks worldwide and has started...

List of Contributors to the CACOVID Relief Fund As At April 3, 2020

COVID-19 Response: LCCI donates food, medical supplies to Lagos state

The Lagos Chamber of Commerce and Industry (LCCI), has donated food and medical supplies to the Lagos State Government. The donation, according to The Lagos Chamber...

Prudential Zenith Life Insurance unveils additional benefits for customers affected by COVID-19 Pandemic.

Following the launch of its Coronavirus (COVID-19) initiative, Prudential Zenith Life Insurance has announced some additional benefits designed to address the negative impact of the Coronavirus...

 NNPC announces additional N10bn Petroleum Industry donation to fight COVID-19

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has handed over five ambulances to Secretary to Government of the Federation, cum Chairman of the...