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The Maritime Workers Union of Nigeria (MWUN) has threatened to embark on a nationwide strike at seaports over the arrest of its members on essential service by the Governor of Rivers State, Nyesom Wike. Already, the union has given 48 hours ultimatum, starting from Monday to the Rivers State...

The Office of the Accountant-General of the Federation on Sunday said the Integrated Payroll and Personnel Information System had saved over N361bn for the Federal Government despite opposition and sabotage from some quarters. Created in 2007, the IPPIS secretariat is a department under the...

The management of Dangote Industries Limited recently announced the completion of one of the biggest fertiliser plants in the world. The company is also on the verge of completing the world’s biggest single train refinery in Nigeria. How would the coming on stream of the two plants help in the...

At least 17 out of the 20 airports owned and managed by the Federal Government have turned out to be unviable and have operated at a loss for three years. Except the trio of the Murtala Muhammed International Airport (MMIA), Lagos; Nnamdi Azikiwe International Airport (NAIA), Abuja; and Port...

Leading telecommunications company in the country, MTN Nigeria Communications Plc, will hold its Annual General Meeting (AGM) this week. The firm will organise the shareholders’ gathering precisely on Friday, May 15, 2020, at the Rooftop Event Hall of MTN Plaza at Falomo, Ikoyi, Lagos by 11am...

No drop of petrol or kerosene was produced by any of the refineries under the management of the Nigerian National Petroleum Corporation for eight straight months. Latest figures released by the NNPC on refined white products (petrol and kerosene) from local refineries showed that from June 2019...

A member on the board of Fidelity Bank Plc, Mr Charles Umolu, has mopped up some equities of the company at the stock market. Mr Umolu is a non-executive director of the financial institution and was in the past the Managing Director/Chief Executive Officer of Comet Merchant Bank Ltd. A...

In the month of April 2020, Morgan Capital Securities Limited traded the highest number of stocks at the equity market. According to data obtained by Business Post from the Nigerian Stock Exchange (NSE), the brokerage firm headed by Mr Muyiwa Adeyemi, contributed to 15.56 percent of the total...

After 10 months of consistent decline, the country’s foreign reserves returned to a growth path, gaining $449.5m in one week, figures from the Central Bank of Nigeria have revealed. According to the CBN, the reserves rose from $33.44bn in April ending to $33.89bn on May 5, 2020. The reserves...

Lets hope our business and investment will not be among. But in view of these possibility lets see what happens. The Lagos Chamber of Commerce and Industry (LCCI) has said that up to 83 percent of businesses are at risk and will need to slash salaries and layoff workers in order to stay afloat...

Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has advised investors to look into the capital market as an avenue to create wealth. She said in Abuja on Tuesday that the space has the potential to minimise the drastic effects of the coronavirus pandemic...

Underwriting company, ARM Life Plc, completed the first quarter of the year in a loss, recording a loss after tax of N588.6 million. According to the interim returns of the company for the period ended March 31, 2020, the loss posted in the period was in contrast to the profit after tax of N1.1...

A substantial shareholder of UAC Nigeria Plc, Blakeney LLP, has sold about 10 million units of the company’s stocks at the exchange. The sale of the conglomerate shares by the institutional investor was carried at two different trading sessions last month. According to the notification of...

Last week, the new President/GCEO of Transcorp Plc, Mrs Owen Omogiafo, presided over her first Annual General Meeting (AGM) in the new position. The AGM, which was held virtually, offered Mrs Omogiafo, whose appointment took effect from March 25, 2020, after succeeding Mr Valentine Ozigbo, the...

Since the Mr Muhammadu Buhari-led federal government introduced an excise duty for the alcohol sector in the Nigeria few years ago, operators have been struggling to remain profitable. Also, the low purchasing power of consumers in the country has compounded the woes of beer makers, recording...

As some important economic activities resumed in the country on Monday, following the ease of the lockdown directive, the Naira appreciated against the American Dollar at both the black market and the Investors and Exporters (I&E) segment of the foreign exchange market. At the black market, the...

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has said the exchange will continue to operate remotely despite the gradual easing of lockdown in Lagos State. https://businesspost.ng/economy/lockdown-nse-to-continue-remote-trading-as-businesses-resume/amp/

Last week the relaxation of nigeria lockdown was announced and godspower made some post saying that the markeks and stocks will heal this week as business/bank activities open and he was right. Things are recovering slowly in Nigeria economy. Lets hope it gets better from here. The full...

I would change my money to $ or Btc soon.

According to its Q1’2020 unaudited financial report released to the investing public on Monday 20th April 2020, Nigeria Breweries Plc., a foremost brewer and the leader in the Nigeria brewing sector (with about 57% of total market share) reported a dip in Revenue and Profit After Tax (PAT) in Q1...