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Stock Market: Investors lose N214bn as market closes on marginal gains

Finance / By / January 9, 2017

Investors in the nation’s stock market lost over N214 billion last week following massive selloff of shares of highly capitalized companies across the sub sectors on the Nigerian Stock Exchange, NSE. Consequently, the market capitalization of the NSE which represents the total value of stocks traded on the exchange dropped from N9.246 trillion it opened …

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MMM Nigeria freezes all confirmed accounts as panic, confusion grip Nigerians

Finance / By / December 19, 2016

Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM Nigeria have been thrown into panic and great confusion, last Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for one month. All members woke up with the shock message displayed on the screen as …

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ECOWAS urges Nigeria, others to reform economies

Finance / By / December 19, 2016

A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate economic and financial stimulus measures in order to be less vulnerable to commodity price fluctuations …

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Stock market rebounds as investors net N468bn in 3 weeks

Finance / By / December 19, 2016

Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE. Data  from the NSE showed that  market capitalization, which represents total value of  all listed …

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Nigeria interbank lending rate eases on budget cash injections

Finance / By / December 19, 2016

Nigeria’s overnight lending rate fell this week to around 3 percent on Friday from an average of 3.9 percent a week ago on expectations that budget cash will be injected into the banking system on Friday or Monday, traders said. Nigeria, an OPEC member and Africa’s biggest economy, relies on crude oil sales for two-thirds …

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Approve NCC’s Data price floor- MTN urges senate

Finance / By / December 13, 2016

The Chief Executive Officer of MTN Nigeria, Ferdinand Moolman last week appealed to the senate to consider the Data price floor as set by the Nigerian Communications Commission, NCC, saying that data price is among the lowest in the continent. Moolman who made presentations in Abuja, at the Senate hearing on Data price floor, also …

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