Category: dmf

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FBNH Declines, Trades at 49% Discount to 52-Week High

FBNH Declines, Trades at 49% Discount to 52-Week High FBN Holdings market value has plunged by about 50% below its peak market value reached when Femi Otedola and Oba Otudeko ramped up the financial group company shares on the Nigerian Exchange. The financial services stock plummeted strongly in the second quarter of 2024, extended to […]

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Money Market Rates Dip as Liquidity Stress Eased

Money Market Rates Dip as Liquidity Stress Eased The short-term benchmark interest rates in the money market declined in the just concluded week in the absence of significant pressure on liquidity levels in the financial system. According to data from FMDQ, the repo rate declined by 14 basis points to 31.61% on Friday, while the […]

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PFAs Invest 63% of Pension Assets in FG Securities

PFAs Invest 63% of Pension Assets in FG Securities Pension Fund Administrators (PFAs) parked 63% of pension assets in federal government debt securities as assets under management climbed to N20.2 trillion in May. In its latest monthly report, the National Pension Commission (PENCOM) said total assets under management (AUM) of the regulated pension industry increased […]

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Fitch Rates Kogi State ‘B-‘ with Positive Outlook

Fitch Rates Kogi State ‘B-‘ with Positive Outlook Fitch Ratings has assigned Kogi State a ‘B-‘ Long-Term Issuer Default Rating (IDR) with a Positive Outlook and a ‘AA-(nga)’ National Long-Term Rating. Fitch assesses Kogi’s Standalone Credit Profile (SCP) at ‘b’. A full list of ratings is below. The ratings reflect Kogi’s revenue dependency on volatile […]

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Geregu Power Grows Profit by 149% in H1-2024

Geregu Power Grows Profit by 149% in H1-2024 Geregu Power Plc posted about 149% year-on-year growth in profitability in the first half of 2024, according to details from its unaudited financial statement for 2024 submitted to the Nigerian Exchange. The power generation company’s revenue climbed to N80.677 billion in the first half of 2024, up […]

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Investment Firm Forecasts 34.25% Inflation Rate for June

Investment Firm Forecasts 34.25% Inflation Rate for June Inflation rate has been forecasted to print at 34.25% in June, 2024 by one of the Nigerian leading investment banking firm, Cowry Asset Limited, ahead of data release by the National Bureau of Statistic (NBS) on Monday. Inflation rate accelerated to 33.95% in May, 2024 marking 17 […]

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LG Electronics Wraps Up the Epic LG K-POP Grand Finale

LG Electronics Wraps Up the Epic LG K-POP Grand Finale The LG K-POP Grand Finale concluded with a flourish, igniting the stage with electrifying performances, jaw-dropping special effects, and the immense talent of the winners. The highly anticipated event, brought to you by LG Electronics, saw some of the biggest names in K-POP compete fervently […]

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Presidential CNG Initiative, Partners Target 1m Vehicles for Conversion

Presidential CNG Initiative, Partners Target 1m Vehicles for Conversion The Presidential Compressed Natural Gas Initiative (P-CNGi) has signed a Memorandum of Understanding (MoU) with Conversion Workshop Owners,  to fast track free conversion of one million vehicles in the country. The Conversion Incentive Programme is aim to tackle barriers by offering free CNG kits and conversion […]

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FG Mulls Youth Enterprise Cluster Worth N110bn – Shettima

FG Mulls Youth Enterprise Cluster Worth N110bn – Shettima The Federal Government has revealed plan to set up a Presidential Initiative for Youth Enterprise Cluster worth N110 billion. Vice-President, Kashim Shettima, made this known on Thursday at the  commemoration of the 2024 World Population Day (WPD), organised by the National Population Commission (NPC) at the […]

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Supreme Court Judgment on LGs Good for Democracy – Soludo

Supreme Court Judgment on LGs Good for Democracy – Soludo Gov. Chukwuemeka Soludo of Amambra says the Supreme Court judgment affirming constitutional rights of local governments is good for democracy. Soludo said this while addressing State House correspondents after a visit to President Bola Tinubu on Thursday. “Supreme Court is the final authority and, as […]

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Blue Economy Key to Youth Empowerment – Oyetola

Blue Economy Key to Youth Empowerment – Oyetola The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has advised the youth to take advantage of the potential in the maritime sector for economic growth. Oyetola gave the advice during the Employment Clinic, tagged “Blue Industry Career Insights”, organised by the Employment Transition Programme (EETP) […]

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Africa to Empower Marginalised Communities Via Natural Resources

Africa to Empower Marginalised Communities Via Natural Resources The Minister of Solid Minerals Development, Dr Dele Alake,  says  the African continent is determined to empower its marginalised communities through its natural resources. Alake described  Africa as endowed with natural resources capable  of driving its sustainable economic growth, particularly  the critical minerals needed for the global […]

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Naira Rises as Additional FX Inflow Boosts External Reserves

Naira Rises as Additional FX Inflow Boosts External Reserves The naira appreciated in the official window after additional foreign currency inflows boosted Nigeria’s external reserves. At the Nigerian autonomous FX market, the naira appreciated by 0.47% to close at ₦1,554.65 per US dollar. FX analysts said eligible US dollar demand remained elevated even though the […]

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Inflation: CBN Measures Making Positive Impacts- Cardoso

Inflation: CBN Measures Making Positive Impacts- Cardoso The Governor of Central Bank of Nigeria (CBN), Yemi Cardoso, has reassured Nigerians that the bank’s economic reforms were yielding significant results. Cardoso said that this had led to a 50 per cent reduction in month-on-month inflation between February and May. He made the remarks during the interactive […]

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FCCPC Urges Consumer Groups, NGOs to Register With Commission

FCCPC Urges Consumer Groups, NGOs to Register With Commission The Federal Competition and Consumer Protection Commission (FCCPC) has called on Consumer Protection Groups (CPGs) and Non-Governmental Organisations (NGOs) to register with the commission for effective collaboration and protection. The Acting Executive Vice Chairman, of FCCPC, Dr Adamu Abdullahi, said this at a one-day webinar with […]

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Honeywell, Seplat, Transcorp Drag NGX Lower by N188.5bn

Honeywell, Seplat, Transcorp Drag NGX Lower by N188.5bn Price depreciation in Honeywell Flour, Seplat Energy Plc, among other decliners dragged the equities market capitalisation of the Nigerian Exchange lower by about N188.5 billion on Thursday. The domestic bourse went south again as a result of profit taking activities due to portfolio rebalancing, realignments ahead of […]

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Market Bets on Faster US Fed Rate Cuts amid Election Concerns

Market Bets on Faster US Fed Rate Cuts amid Election Concerns The US Federal Reserve is indicating that a cooling labor market is alleviating inflationary pressures, but there is likely significant reluctance to implement cuts swiftly, primarily due to the upcoming presidential election, predicts the CEO of one of the world’s largest independent financial advisory […]

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