When SpaceX debuted on the Nasdaq in June, the historic listing did more than make Elon Musk the world's first trillionaire on paper. It instantly added more than $2 trillion to the value of companies traded on the Nasdaq exchange and demonstrated how a single corporate giant can reshape a stock market. For Nigeria, the …
Jaiz Bank Plc has reported a 28 per cent growth in profit before tax to ₦31.24 billion for the year ended December 31, 2025, up from ₦24.44 billion in 2024, as the non-interest bank posted across-the-board growth in earnings, deposits and assets despite a tough macroeconomic environment. Disclosing the bank's audited results at a press …
The Nigerian Exchange Limited (NGX) has introduced a major change to the way share prices move on the stock market. The rules have, however, sparked concerns among market participants. Under the revised pricing framework, stocks will now require a minimum volume of shares to be traded before their market prices can change. According to the …
The Securities and Exchange Commission (SEC) has ordered an immediate halt to all marketing and promotional activities relating to a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE, warning that no such offer has been filed with or approved by the regulator. In a public notice issued on Tuesday, the Commission …
The Nigerian Electricity Regulatory Commission (NERC) has commended the Edo State Judiciary for adopting the Edo State High Court (Nigerian Electricity Supply Industry) Practice Directions, 2026. In a statement, the national electricity regulator said the move marks a significant milestone in strengthening the legal framework governing the power sector. The new legal framework, which officially …
Nigeria's latest Company Income Tax (CIT) figures have exposed a growing imbalance in the economy, with foreign-linked entities contributing significantly more tax revenue than domestic businesses. This worry comes at a time when key productive sectors are showing signs of distress. Data released recently by the National Bureau of Statistics (NBS) showed that total CIT …
The Nigeria Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding with the Capital Market Authority of Rwanda to deepen cooperation and support the development of capital markets in both countries. The agreement was signed in Abuja on Monday and provides a framework for collaboration on investor education, capital market development, information sharing, …
Investors on the Nigerian Exchange lost about ₦5.64 trillion in one week as a sharp sell-off in banking and insurance stocks dragged the market lower. The NGX All-Share Index fell by 3.59 per cent to close at 235,941.27 points for the week ended June 19, 2026, while market capitalisation dropped by the same margin to …
The Federal Government’s latest Treasury Bills (T-Bills) auction witnessed overwhelming investor interest, attracting subscriptions worth N1.86 trillion against an initial offer of N1 trillion, signaling growing confidence in Nigeria’s economic reforms and macroeconomic stability. The auction, conducted by the Central Bank of Nigeria (CBN) on behalf of the Federal Government, was oversubscribed by approximately N860 …
The President and Chief Executive Officer of MTN Group, Ralph Mupita, has warned that growing Afrophobic sentiments across Africa pose a serious threat to youth empowerment, economic integration and the continent’s long-term development goals. Mupita issued the warning ahead of the Kgalema Motlanthe Foundation dialogues, amid growing social media campaigns targeting multinational companies following recent …
