Daily Business Reporter

Dangote Refinery rules out foreign listing for at least three years, prioritises Nigerian IPO Dangote Petroleum Refinery & Petrochemicals will not pursue a foreign stock market listing for at least three years, as the company prioritises its planned Nigerian initial public offering (IPO) before considering an overseas listing. The timeline was disclosed by the refinery’s […]

  The Nigerian equities market extended its losing streak on Thursday, August 13, 2026, as continued selling pressure in consumer goods and selected large-cap stocks pushed the NGX All-Share Index (ASI) down 0.39%, wiping approximately N613.09 billion from investors’ wealth. The ASI fell to 243,017.38 points from 243,967.09 points on Wednesday, while market capitalisation declined

  If an investor had invested N10 million equally across the four best-performing SWOOT stocks among Nigerian Exchange-listed companies at the start of 2026, the portfolio would be worth approximately N26.15 million as of August 13, 2026. This represents a theoretical capital gain of N16.15 million, equivalent to a 161.5% return in less than eight

  The Central Bank of Nigeria (CBN) raised the stop rate on its benchmark 364-day Treasury Bill to 17.59% at Wednesday’s auction, defying expectations that strong investor demand would push borrowing costs lower. Investors submitted a combined N4.4 trillion in bids across the three-tenor Treasury Bill offer against N700 billion advertised by the apex bank,

  The naira strengthened to N1,360.15/$ at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, recording its strongest closing level since June 16 as the currency continued its gradual recovery against the U.S. dollar. Data from the Central Bank of Nigeria (CBN) showed that the naira gained N4.85 from the N1,365/$ recorded on Tuesday, representing

  The Nigerian equities market extended its decline on Wednesday, August 12, 2026, as heavy selling in consumer goods stocks and selected large-cap counters wiped approximately N1.76 trillion off market capitalisation. The NGX All-Share Index (ASI) declined 1.12% to close at 243,967.09 points, down from 246,723.57 points recorded on Tuesday. Consequently, market capitalisation fell to

  The Securities and Exchange Commission (SEC) has set 5:00 p.m. on Trade Date plus One (T+1) as the settlement deadline for equities and commodities transactions in Nigeria’s capital market. The Commission disclosed this in a public notice signed by its management on August 12, 2026, providing further clarification on the implementation of the T+1

  The Economic and Financial Crimes Commission (EFCC) has been urged to investigate an alleged fraud and impersonation involving a $300 million investment claim connected to the ongoing dispute over River Park Estate in Lugbe, Abuja. The petition was signed by Oluwabunmi Adebiyi, Esq., of Blue-Gate Solicitors & Attorneys, who identified himself as solicitor to

The price of gold per gram in Nigeria is currently estimated at approximately N220,000 for pure gold, including retail markup fees, as metal traders position cautiously ahead of the release of fresh US inflation data. Gold dealers in major Nigerian markets, including Lagos, Kano and Abuja, typically apply a local markup of between 5% and

  The Nigerian equities market surged toward its mid-May high on Monday, August 10, 2026, as renewed buying interest in selected heavyweight stocks pushed total market capitalisation above the historic N160 trillion mark. The benchmark NGX All-Share Index (ASI) rose by 1.20% to close at 248,529.75 points, compared with 245,573.60 points in the previous session.