Breaking News Archives - Nairametrics https://nairametrics.com/category/breaking-news/ Destination for Business news and analysis from Africa's largest economy Sun, 18 Aug 2024 10:02:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Breaking News Archives - Nairametrics https://nairametrics.com/category/breaking-news/ 32 32 201037849 Forex reserves drop by $342.97 million, first time in four months  https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/ https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/#respond Sun, 18 Aug 2024 09:25:59 +0000 https://nairametrics.com/?p=496042 Nigeria's external reserves have dipped by approximately $342.97 million over a period of nine days. 

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]]> https://nairametrics.com/2024/08/18/forex-reserves-drop-by-342-97-million-first-time-in-four-months/feed/ 0 496042 Nigeria to issue $500 million domestic dollar bond on Monday   https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/ https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/#respond Thu, 15 Aug 2024 11:53:39 +0000 https://nairametrics.com/?p=495857 The Federal Government of Nigeria plans to issue its dollar-denominated domestic bond next week Monday, as it hopes to raise $500 million from local and foreign investors.  

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]]> https://nairametrics.com/2024/08/15/nigeria-to-issue-500-million-domestic-dollar-bond-on-monday/feed/ 0 495857 Nigeria’s inflation rate drops for the first-time in 19 months, at 33.40% in July  https://nairametrics.com/2024/08/15/nigerias-inflation-rate-drops-for-the-first-time-in-19-months-at-33-40-in-july/ https://nairametrics.com/2024/08/15/nigerias-inflation-rate-drops-for-the-first-time-in-19-months-at-33-40-in-july/#respond Thu, 15 Aug 2024 11:21:43 +0000 https://nairametrics.com/?p=495854 Nigeria’s headline inflation rate decreased to 33.40% in July 2024, down from 34.19% in June 2024. This marks the first decline in the headline inflation rate since December 2022, when it last dropped to 21.34%.

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]]> https://nairametrics.com/2024/08/15/nigerias-inflation-rate-drops-for-the-first-time-in-19-months-at-33-40-in-july/feed/ 0 495854 BREAKING: Seplat shares prices crosses N4,000 for the first time ever https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/ https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/#respond Thu, 15 Aug 2024 09:40:07 +0000 https://nairametrics.com/?p=495845 Seplat Nigeria Plc has crossed the N4,000 share price for the first time ever, marking a 9% gain in early trading on Thursday.

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]]> https://nairametrics.com/2024/08/15/breaking-seplat-shares-prices-crosses-n4000-for-the-first-time-ever/feed/ 0 495845 Court dismisses case seeking to restrain Nigerians from continuing #EndBadGovernance protests https://nairametrics.com/2024/08/12/court-dismisses-case-seeking-to-restrain-nigerians-from-continuing-endbadgovernance-protests/ https://nairametrics.com/2024/08/12/court-dismisses-case-seeking-to-restrain-nigerians-from-continuing-endbadgovernance-protests/#respond Mon, 12 Aug 2024 13:35:11 +0000 https://nairametrics.com/?p=495646 The Federal High Court sitting in Abuja has dismissed an application seeking an order of interim injunction restraining Nigerian protesters under different platforms from continuing with the ongoing protests using the hashtags #EndBadGovernanceInNigeria. 

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]]> https://nairametrics.com/2024/08/12/court-dismisses-case-seeking-to-restrain-nigerians-from-continuing-endbadgovernance-protests/feed/ 0 495646 One year after floating Naira, NGX market cap drops by $27.8 billion   https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/ https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/#respond Thu, 08 Aug 2024 11:18:10 +0000 https://nairametrics.com/?p=495464 About one year after the move by the Central Bank to float the Naira and achieve a unified exchange rate, the market capitalization of the Nigerian Exchange (NGX) has declined by $27.8 billion.  

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]]> https://nairametrics.com/2024/08/08/one-year-after-floating-naira-ngx-market-cap-drops-by-27-8-billion/feed/ 0 495464 MeCure reports 38% rise in revenues as cost mute profit growth   https://nairametrics.com/2024/08/08/mecure-reports-38-rise-in-revenues-as-cost-mute-profit-growth/ https://nairametrics.com/2024/08/08/mecure-reports-38-rise-in-revenues-as-cost-mute-profit-growth/#respond Thu, 08 Aug 2024 06:56:35 +0000 https://nairametrics.com/?p=495443 MeCure Industries PLC released its 2024 second quarter results, reporting a pre-tax profit of N1.33 billion. 

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]]> https://nairametrics.com/2024/08/08/mecure-reports-38-rise-in-revenues-as-cost-mute-profit-growth/feed/ 0 495443 CBN sells $876.26 million at N1,495/$1 to 26 banks in latest Retail Dutch Auction  https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/ https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/#respond Wed, 07 Aug 2024 17:40:38 +0000 https://nairametrics.com/?p=495426 The Central Bank of Nigeria (CBN) has sold $876.26 million at N1,495/$1 to 26 qualified banks in its latest Retail Dutch Auction. 

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]]> https://nairametrics.com/2024/08/07/cbn-sells-876-26-million-at-n1495-1-to-26-banks-in-latest-retail-dutch-auction/feed/ 0 495426 CBN approves bailout for Unity Bank -Providus Bank merger https://nairametrics.com/2024/08/06/cbn-approves-bailout-for-unity-bank/ https://nairametrics.com/2024/08/06/cbn-approves-bailout-for-unity-bank/#respond Tue, 06 Aug 2024 18:31:29 +0000 https://nairametrics.com/?p=495351 The Central Bank of Nigeria (CBN) has granted approval for financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited.  

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]]> https://nairametrics.com/2024/08/06/cbn-approves-bailout-for-unity-bank/feed/ 0 495351 Jumia records $20.2 million operating loss in Q2 2024 as revenue decline  https://nairametrics.com/2024/08/06/jumia-records-20-2-million-operating-loss-in-q2-2024-as-revenue-decline/ https://nairametrics.com/2024/08/06/jumia-records-20-2-million-operating-loss-in-q2-2024-as-revenue-decline/#respond Tue, 06 Aug 2024 16:17:57 +0000 https://nairametrics.com/?p=495346 Africa’s e-commerce group, Jumia, posted a $20.2 million operating loss in Q2 2024 amid a 17% decline in revenue. 

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]]> https://nairametrics.com/2024/08/06/jumia-records-20-2-million-operating-loss-in-q2-2024-as-revenue-decline/feed/ 0 495346 MTN Nigeria falls to lowest price in 3 years as NGX suffers, joins global stock market crash https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/ https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/#respond Mon, 05 Aug 2024 12:15:19 +0000 https://nairametrics.com/?p=495237 A global stock market crash which started on Friday is gradually spreading to the NGX as midday trading data shows a decline in the market, with MTN Nigeria being the major victim.  

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]]> https://nairametrics.com/2024/08/05/mtn-nigeria-falls-to-lowest-price-in-3-years-as-ngx-suffers-joins-global-stock-market-crash/feed/ 0 495237 Nigeria’s exchange rate records best gain in two weeks, closes at N1,570/$1 on Thursday  https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/ https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/#respond Thu, 01 Aug 2024 19:40:37 +0000 https://nairametrics.com/?p=495039 The naira surged to N1,570/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, marking an increase of 2.47% from the previous day’s rate of N1,608.73/$1.  

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]]> https://nairametrics.com/2024/08/01/breaking-nigerias-exchange-rate-records-best-gain-in-two-weeks-closes-at-n1570-1-on-thursday/feed/ 0 495039 National average cost of healthy diet rises by 19.2% in one month  https://nairametrics.com/2024/08/01/national-average-cost-of-healthy-diet-rises-by-19-2-in-one-month/ https://nairametrics.com/2024/08/01/national-average-cost-of-healthy-diet-rises-by-19-2-in-one-month/#respond Thu, 01 Aug 2024 06:33:04 +0000 https://nairametrics.com/?p=494930 The National Average Cost of a Healthy Diet (CoHD) in Nigeria saw a sharp increase in June 2024, climbing to N1,241 per adult per day.

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]]> https://nairametrics.com/2024/08/01/national-average-cost-of-healthy-diet-rises-by-19-2-in-one-month/feed/ 0 494930 Nigeria’s currency in circulation exceeds N4 trillion in June 2024, first time in history  https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/ https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/#respond Wed, 31 Jul 2024 17:44:27 +0000 https://nairametrics.com/?p=494912 The latest data from the Central Bank of Nigeria (CBN) shows that the currency in circulation (CIC) reached a year-high of N4.05 trillion in June 2024, up by 56% from N2.6 trillion in the same month of the previous year. 

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]]> https://nairametrics.com/2024/07/31/nigerias-currency-in-circulation-exceeds-n4-trillion-in-june-2024-first-time-in-history/feed/ 0 494912 Otedola announces support for windfall tax, urges banks to curb private jet expenses  https://nairametrics.com/2024/07/31/otedola-announces-support-for-windfall-tax-urges-banks-to-curb-private-jet-expenses/ https://nairametrics.com/2024/07/31/otedola-announces-support-for-windfall-tax-urges-banks-to-curb-private-jet-expenses/#respond Wed, 31 Jul 2024 16:35:38 +0000 https://nairametrics.com/?p=494909 The Chairman of FBN Holdings and acclaimed strongman of the financial and capital markets, Femi Otedola has thrown his weight behind the implementation of a windfall tax, emphasizing its importance in creating a more equitable economic environment.  

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]]> https://nairametrics.com/2024/07/31/otedola-announces-support-for-windfall-tax-urges-banks-to-curb-private-jet-expenses/feed/ 0 494909 Court orders arrest of two Nigerians over alleged N46 billion cash withdrawals from Kogi State bank account  https://nairametrics.com/2024/07/31/court-orders-arrest-of-two-nigerians-over-alleged-n46-billion-cash-withdrawals-from-kogi-state-bank-account/ https://nairametrics.com/2024/07/31/court-orders-arrest-of-two-nigerians-over-alleged-n46-billion-cash-withdrawals-from-kogi-state-bank-account/#respond Wed, 31 Jul 2024 08:42:37 +0000 https://nairametrics.com/?p=494843 The Federal High Court in Abuja has ordered the arrest of Abdulsalamu Hudu and Umar Shuaibu Oricha to bring them before the court to answer criminal allegations related to the alleged withdrawal of N46,039,579,919.38 in cash from the Kogi State government bank accounts, among other accusations. 

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]]> https://nairametrics.com/2024/07/31/court-orders-arrest-of-two-nigerians-over-alleged-n46-billion-cash-withdrawals-from-kogi-state-bank-account/feed/ 0 494843 President Tinubu approves sale of crude to Dangote Refinery and others in Naira  https://nairametrics.com/2024/07/29/president-tinubu-proposes-lifeline-to-dangote-refinery-nnpc-to-sell-crude-in-naira/ https://nairametrics.com/2024/07/29/president-tinubu-proposes-lifeline-to-dangote-refinery-nnpc-to-sell-crude-in-naira/#respond Mon, 29 Jul 2024 15:42:20 +0000 https://nairametrics.com/?p=494727 In a landmark move aimed at stabilizing fuel pump prices and the dollar-Naira exchange rate, the Federal Executive Council has approved President Tinubu's proposal to sell crude oil to Dangote Refinery and other upcoming refineries in Naira. 

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]]> https://nairametrics.com/2024/07/29/president-tinubu-proposes-lifeline-to-dangote-refinery-nnpc-to-sell-crude-in-naira/feed/ 0 494727 MultiChoice wins as Nigerian Tribunal grants lawyer’s request to withdraw GOTV, DSTV price hike case  https://nairametrics.com/2024/07/29/multichoice-wins-as-nigerian-tribunal-grants-lawyers-request-to-withdraw-gotv-dstv-price-hike-case/ https://nairametrics.com/2024/07/29/multichoice-wins-as-nigerian-tribunal-grants-lawyers-request-to-withdraw-gotv-dstv-price-hike-case/#respond Mon, 29 Jul 2024 15:00:00 +0000 https://nairametrics.com/?p=494720 The Competition and Consumer Protection Tribunal has granted the withdrawal of a subscription price hike case instituted against MultiChoice Nigeria. 

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]]> https://nairametrics.com/2024/07/29/multichoice-wins-as-nigerian-tribunal-grants-lawyers-request-to-withdraw-gotv-dstv-price-hike-case/feed/ 0 494720 NCC orders telcos to reactivate all lines barred over NIN-SIM verification issues  https://nairametrics.com/2024/07/29/ncc-orders-telcos-to-reactivate-all-lines-barred-over-nin-sim-verification-issues/ https://nairametrics.com/2024/07/29/ncc-orders-telcos-to-reactivate-all-lines-barred-over-nin-sim-verification-issues/#respond Mon, 29 Jul 2024 13:45:07 +0000 https://nairametrics.com/?p=494705 The Nigerian Communications Commission (NCC) has ordered all telecommunication companies in the country to reactivate all lines they have barred over issues surrounding the linking and verification of National Identification Numbers (NIN) linked with their SIMs. 

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]]> https://nairametrics.com/2024/07/29/ncc-orders-telcos-to-reactivate-all-lines-barred-over-nin-sim-verification-issues/feed/ 0 494705 LH Telecoms acquires majority stake in 9mobile  https://nairametrics.com/2024/07/28/lh-telecoms-acquires-majority-stake-in-9mobile/ https://nairametrics.com/2024/07/28/lh-telecoms-acquires-majority-stake-in-9mobile/#respond Sun, 28 Jul 2024 16:50:06 +0000 https://nairametrics.com/?p=494625 UK firm, LH Telecoms acquires majority stake in Nigeria's 9mobile 

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]]> https://nairametrics.com/2024/07/28/lh-telecoms-acquires-majority-stake-in-9mobile/feed/ 0 494625