In search for operational efficiency and profitability, the Nigerian Stock Exchange (NSE) has been upgraded from a member-owned company to a public limited liability company. This development followed the final approvals from Nigeria’s Securities and Exchange Commission (SEC) Corporate Affairs Commission (CAC)  to convert from a mutual to a public …

Brent crude futures rose above the $70 per barrel level on Monday for the first time since January 2020, following reports of attacks on oil facilities in eastern Saudi Arabia, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Oil prices were up for a fourth consecutive …

The Standards Organisation of Nigeria (SON) Governing Council has approved ninety-six (96) new Nigerian Industrial Standards for national use which cut across Chemical Technology, Electrical/Electronics, Food/Agriculture, Textile/Leather and Services. The approval which was given at the first meeting of the Council following the appointment of Mallam Farouk Salim as the …

African Gold Acquisition Corp, a Special Purpose Acquisition Company, has mobilized a total of $360 million as part of an IPO on the New York Stock Exchange. The company will use the resources to buy gold assets in Africa. It is the first SPAC focused on African mining assets. Rob Hersov, …

The UN High Commissioner for Refugees (UNHCR) and the World Food Program (WFP) launched a joint tender to raise $266 million to provide food aid to refugees in East Africa. In a statement, the United Nations said the initiative aims to increase the food rations granted to more than 3 million …

Oil prices rose on Wednesday, amid hopes for improving global demand after President Joe Biden said that America will have enough COVID-19 vaccine doses by the end of May, two months earlier than the target. The leader also mentioned that drugmaker Merck will help produce rival Johnson & Johnson’s newly …

The Federal Government has approved for the Mobile Network Operators (MNOs) to establish dedicated SIM Swap Centres across the Local Government Areas (LGAs) in Nigeria The approval was given at the meeting of the Ministerial Task Force on the NIN-SIM registration held February 26, 2021 and chaired by the Minister …

Since January 2021, Africa has mobilized a total of $895 million in private equity investment, we learned. The largest PE transaction was carried out by SPE Capital Partners for its first fund targeting Africa and the Middle East. The company raised $258 million for an initial target of $200 million. “This is an …

Contrary to speculations of imminent increase in the price of Premium Motor Spirit (petrol) in the country, the Nigerian National Petroleum Corporation (NNPC) has ruled out any increment in the ex-depot price of petrol in March, 2021. A press release by the Group General Manager, Group Public Affairs Division, Dr. …

Guaranty Trust Bank Plc said interest rates for lending would continue to increase in 2021 amid increase in the Federal Government’s debt profile. The Bank made the disclosure in a report titled ‘Nigeria and Banking Sector Themes for 2021’ released on Monday. According to the report, experts expect the CBN …