Caverton Offshore Support Group Plc has reported a pre-tax loss of N8.66 billion for the six months ended June 30, 2026, compared with a pre-tax profit of N2.07 billion recorded in the corresponding period of 2025. The company also posted a net loss of N8.69 billion, reversing the N2.04 billion profit achieved in the […]
Caverton swings to N8.66bn pre-tax loss in H1 2026 as costs weigh on earnings Read More »
The Central Bank of Nigeria (CBN) says its ongoing monetary and foreign exchange reforms are yielding positive results, with the gap between the official naira exchange rate and Bureau de Change (BDC) rates narrowing to below 2%, while the country’s external reserves have risen above $52.5 billion. The disclosure was made on Tuesday by the
CBN says FX reforms narrowing official-BDC rate gap, reserves exceed $52.5bn Read More »
Dangote Petroleum Refinery & Petrochemicals is targeting a $5 billion initial public offering (IPO) expected to conclude by October 2026, in what could become the largest stock market listing in African history. The planned transaction was reported by Reuters on Tuesday, citing two sources familiar with the matter. According to the report, the refinery
Dangote Refinery targets $5bn IPO in Africa’s biggest-ever stock market listing Read More »
The Nigerian equities market opened the week on a positive footing on Monday, August 3, 2026, with gains in major banking stocks lifting the benchmark index despite broad-based weakness across insurance and consumer goods counters. Investors added ₦288.44 billion to market capitalisation as the NGX All-Share Index (ASI) advanced 0.18% to close at 245,730.53 points,
Eight companies listed on the Nigerian Exchange (NGX) have announced dividend qualification dates in August 2026, providing investors with opportunities to qualify for interim and final dividend payments across multiple sectors of the market. The companies span telecommunications, energy, agriculture, insurance, hospitality, investment holding, environmental services and publishing, reflecting broad shareholder returns across the
Eight NGX-listed companies set dividend qualification dates in August 2026 Read More »
NNPC Limited recorded a profit after tax (PAT) of ₦2.28 trillion in the first half of 2026, representing a 35.4% year-on-year decline from the ₦3.53 trillion posted during the same period in 2025. According to an analysis of the company’s monthly financial performance data, the decline reflects a weaker earnings profile compared with last
NNPC posts ₦2.28 trillion profit in H1 2026 despite 35% earnings decline Read More »
Coronation Infrastructure Fund (CIF) has launched its Series II Offer, targeting up to ₦20 billion to finance critical infrastructure projects across Nigeria. The offer is being issued under the Fund’s ₦200 billion Shelf Programme and consists of up to 186.9 million units priced at ₦107.00 per unit. Key details Fund: Coronation Infrastructure Fund (CIF)
Coronation Infrastructure Fund launches ₦20 billion Series II offer Read More »
The Airline Operators of Nigeria (AON) has opposed the planned warning strike by aviation unions over the alleged non-remittance of Ticket Service Charges (TSC), arguing that the proposed industrial action is based on misinformation and should not disrupt flight operations. The position was disclosed in a statement issued on Monday, August 3, following threats
AON rejects planned aviation strike over Ticket Service Charges Read More »
First HoldCo Plc has crossed a major milestone, with its market capitalisation exceeding ₦6 trillion, while Chairman Femi Otedola has become the company’s largest shareholder, holding a 25.8% equity stake. The development marks another significant chapter in what has become one of Nigeria’s most closely watched corporate transformation stories. In a rare and exclusive interview,
First HoldCo surpasses ₦6 trillion valuation as Femi Otedola outlines long-term vision Read More »
Virtual Asset Service Providers (VASPs), including cryptocurrency exchanges and peer-to-peer (P2P) marketplace operators, could face penalties of up to ₦10 million for failing to comply with Nigeria’s new tax obligations under the Nigeria Revenue Service (NRS) Guidelines on the Taxation of Virtual Assets. The guidelines, released on Monday, provide the implementation framework for taxing
