The Nigerian Exchange Limited (NGX) has disclosed that a total of N2.60 trillion worth of domestic and foreign investments were recorded between January and June 2024. This development was disclosed in a report titled ‘Domestic & Foreign Portfolio Investment’ published by the Exchange on Wednesday. It disclosed that N540.48 billion worth of foreign investments were The post NGX records domestic, foreign transactions worth N2.60tr in H1’24 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

For the second day running, investors in the Nigerian equities market lost N68 billion at the close of trading on Wednesday. This followed the dip in the share prices of stocks like NSLTECH, RT BRISCOE, and UBA amongst others on the trading floor today. After five hours of trading at the capital market, the equity The post NGX: Again, investors shed N68bn as NSLTECH, RT BRISCOE, UBA top losers appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Investors in the Nigerian equities market lost N46 billion at the close of trading on Tuesday. This followed the dip in the share prices of stocks like UPL, JOHN HOLT and OMATEK amongst others on the trading floor today. After five hours of trading at the capital market, the equity capitalization crashed to N56.8 trillion The post NGX: UPL, John Holt among top losers as investors shed N46bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Federal Competition and Consumer Protection Commission (FCCPC) has fined the United States-based social media platforms, Meta and WhatsApp $220 million for discriminatory practices and other offences. The acting Executive Vice Chairman of the Commission, Adamu Abdullahi disclosed this at a press conference on Tuesday in Abuja. He said it took FCCPC three years of The post Nigerian govt fines Meta, WhatsApp $220m for discriminatory practices appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

In a move aimed at curbing rising inflation, the Central Bank of Nigeria (CBN) has raised its benchmark interest rate, the Monetary Policy Rate (MPR), to a record high of 26.75%. This represents a 150 basis point increase from the previous rate of 24.75%, marking the third consecutive hike this year. CBN Governor, Olayemi Cardoso, The post CBN hikes interest rates to record 26.75% to fight inflation appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Federal Government has reiterated its tough stance on financial institutions failing to comply with the windfall tax on foreign exchange profits made in 2023. This comes as the Minister of Finance, Wale Edun, and the Chairman of the Federal Inland Revenue Service (FIRS), Zack Adediji, met with the National Assembly’s finance committees to discuss The post Nigerian govt stands firm on sanctions for banks defaulting on windfall tax appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The Minister of State Petroleum Resources [Oil] Heineken Lokpobiri has waded into the ongoing face-off between the Chairman and CEO of Dangote Group, Aliko Dangote and regulatory authorities in the oil and gas sector over issues surrounding the Dangote Refinery and Petro Chemical Plant. Dangote and Nigeria’s oil industry regulatory authorities like Nigerian Midstream and The post Oil minister, Lokpobiri, wades into face-off between Dangote, regulatory agencies, IOCs appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The equities market began the week on a positive note on Monday, July 22, 2024 as investors gained N16bn at the end of trading session. This follows an increase in the share prices of stocks like TANTALIZER, LIVESTOCK and NEIMETH amongst others on the trading floor. After five hours of trading at the capital market, The post NGX: Equities market begin week on positive note, investors gain N16bn appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

The House of Representatives joint committee on petroleum resources (downstream and midstream) has placed a gag order on Alhaji Aliko Dangote, the Chairman of Dangote Refinery and Petrochemical Plant, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), International Oil Companies (IOCs) and other stakeholders. The gag order prevents the relevant parties from further commenting The post Substandard petroleum products claim: Reps panel places gag order on Dangote, NMDPRA, others, launches probe appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

Ahead of Tuesday’s Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN), the Centre for the Promotion of Private Enterprise (CPPE) has asked the apex bank to suspend the planned increase in banks’ interest rate. The Chief Executive Officer of the think-tank, Dr. Muda Yusuf, the call in an interview with journalists The post CPPE urges CBN to suspend increase in interest rate appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.