Daily Business Reporter

  Nigeria’s foreign exchange market recorded a sharp increase in trading activity in the week ended August 7, 2026, with total turnover rising to $3.73 billion, representing a 117% increase from the previous week. The latest increase signals continued investor and market participant appetite for dollar positions amid ongoing reforms and improved activity in Nigeria’s […]

  Just five applicants accounted for more than half of the total subscription value in the recently concluded public offer by International Energy Insurance Plc (IEI), which raised N25.84 billion from investors. The development is contained in the allotment result released by the insurance company following clearance by the Securities and Exchange Commission (SEC). The

  African currencies posted mixed performances against the U.S. dollar in July 2026, with several currencies recording gains while others came under renewed pressure during the month. Data from central banks shows that the Botswana pula, Seychellois rupee, and Comorian franc were the best-performing currencies on the continent during the month. The analysis compares each

The rising cost of servicing Nigeria’s domestic debt is becoming an increasing concern as borrowing costs remain high and the Federal Government continues to depend heavily on the local debt market to finance its fiscal requirements. According to economists, the growing reliance on naira-denominated borrowing has helped the government reduce its exposure to foreign exchange

Nigeria has revived plans to list its state-owned oil company, Nigerian National Petroleum Company Limited (NNPC Ltd), on the Nigerian Exchange, nearly a decade after the proposal was first introduced. The plan was initially proposed in November 2016 as part of broader reforms to Nigeria’s petroleum sector, but progress towards a public listing stalled over

Nigerian listed companies recorded a significant rise in finance income in the first half of 2026, earning a combined N179.5 billion, according to their financial statements. The figure represents a 174% increase from the N65.6 billion recorded by the companies during the corresponding period in 2025. The analysis covers 19 listed companies that reported positive

The Nigerian Exchange Limited (NGX) has called on the Federal Government to use the capital market to drive economic transformation by listing stakes in major strategic assets, including Indorama Eleme Petrochemicals Limited and Nigeria LNG Limited (NLNG). The NGX Chief Executive Officer, Temi Popoola, made the proposal during a meeting with President Bola Ahmed Tinubu,

The Nigerian naira continued to strengthen against the euro last week, with the latest data from the Central Bank of Nigeria (CBN) showing the currency closing at N1,576/€1, compared with N1,573/€1 in the previous week. The latest exchange rate marks a significant improvement from the N1,774/€1 recorded in January 2026, with the naira now trading

  Africa’s startup funding activity slowed sharply in July 2026, with 47 startups raising a combined $102.2 million across disclosed funding deals. The figures, compiled by Nairametrics, show that investment remained heavily concentrated among a small group of companies, with the largest-funded startups accounting for the overwhelming majority of capital raised during the month. What

  Shareholders of Mutual Benefits Assurance Plc have approved a final dividend of N802.47 million for the financial year ended December 31, 2025, alongside several board and corporate governance resolutions. The approval was disclosed in a regulatory filing signed by the Company Secretary, Jide Ibitayo, and submitted to the Nigerian Exchange (NGX). What the data