Two bank stocks – Access Bank and Sterling Bank Plc –drove activities in the financial service sector of the Nigerian Exchange Limited (NGX) last week. With the development, the financial sector maintained its dominance in volume terms with 859.019 million shares valued at N6.7 billion traded in 8,157 deals, contributing 78 per cent to the total equities turnover. Specifically, trading in the top three equities namely Access Bank, Sterling Bank Plc and Transcorp accounted for 577.512 million shares worth N2.761 billion in 1, 132 deals, contributing 52.44 per cent to the total equity turnover volume. Following the banking sector in…
Author: Elvis Eromosele
Brand Journalists’ Association of Nigeria (BJAN) has announced Chief Executive Officer, Nitro 121, Lampe Omoyele as Keynote Speaker, alongside Chief Executive Officer, Association of Advertising Agencies of Nigeria (AAAN), Kemi Fabusoro, Emeka Obia from Publicis Groupe/Redefini, CEO ID Africa, Femi Falodun, Oluwarantimi Olaniyan, Business Lead Quadrant MSL, Chineze Amanfo, Lead Public Relations Lead 9Mobile, Nelson Ochonogor, Founder/CEO Digiculture, Nigeria, as part of panelists at her marketing conference this year. The 2022 edition, which is the 10th anniversary in the series, is scheduled for November 25, at Oriental Hotel, Victoria Island, Lagos. The event, according to the body of journalists covering…
With the theme ‘Partnership Beyond Borders’ FBNBank UK, a subsidiary of FirstBank Group on Friday in London, the United Kingdom celebrated its 40th anniversary. Delivering his welcome address to the dignitaries and guests present, Sam Aiyere, Chief Executive Officer, FBN Bank UK Ltd said “since its establishment, our Bank has demonstrated an unmatched dexterity, serving as a gateway connecting international markets in Africa, Europe and the rest of the world to the finest financial services solution that the UK has to offer. Through its office in the UK and the Paris Branch, our Bank has continued to facilitate international trade…
Nigerians drank beer worth N599.11 billion in six months running from January to June 2022, according to the first quarter results of four major brewers in the country. Champion Brew ended the First Half (H1) 2022 as the best-performing company in the brewery Industry, as Nigerian Breweries and Guinness Nigeria lost market share to their rivals. In the industry analysis of their revenue growth from January to June 2022, Nigerian Breweries, Guinness Nigeria, International Breweries and Champion Brew generated a combined N599.11 billion. The turnover grossed by the four largest brewers in the country grew 31.2 per cent when compared…
The National Information Technology Development Agency (NITDA) said it was already working with other stakeholders to formulate the National Policy on e-Commerce to protect both buyers and sellers transacting business online. The current market value of e-commerce in Nigeria hovers around US$13 billion and by 2025 the market value is expected to be around US$75 billion with more than three million jobs created. “Over the past months, NITDA, in conjunction with the Federal Ministry of Trade and Investment, has been trying to put together the National Policy on e-Commerce. We have had several engagements with other stakeholders and this is…
The African Development Bank on Friday awarded $2 million to 20 African youth-led businesses, a press statement issued by the bank has said. The initiative, which is in partnership with the Centre on Adaptation and Climate Investment Funds, is a reward for winners in the 2022 African Youth Adaptation Solutions Challenge (YouthADAPT) competition. The winners of the competition are Flushh, Namibia; Green Impact Technologies, Malawi; AgriTech Analytics, Kenya; Baramoda, Egypt; Cassavita, Cameroon; Ecobarter, Nigeria; Farmer Lifeline Technologies, Kenya; Eurl Algerienne Des Industries Technologiques, Algeria; Lono, Côte d’Ivoire; West African Feeds, Ghana; Kisumeo Organics Limited, Kenya. Others are Grocircular Agro Services,…
Meta, Facebook parent company, this week, announced that it will lay off more than 11,000 of its employees. Meta CEO, Mark Zuckerberg, in a message to his employees on Wednesday said the layoffs will reduce the company’s workforce by about 13 per cent. He noted that the company also plans to cut discretionary spending and extend its hiring freeze through the first quarter. “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13 per cent and let more than 11,000 of our talented employees…
To contain confusion over verification, Twitter Friday temporarily halted its new $8 blue tick subscription offering. This is only the latest reversal at the social media platform since billionaire Elon Musk bought the company. The move came as a number of accounts impersonating big brands received the blue tick, previously a signal that the firm had verified the user as real. In one instance, a user claiming to be drugs firm Eli Lilly said “insulin was free”. Experts say, the incident added to the concerns about how Mr Musk’s leadership was affecting the spread of misinformation on the platform. “We…
$32 billion cryptocurrency exchange FTX has filed for bankruptcy in the US, following weeks of speculation about the true financial health of the firm. Sam Bankman-Fried has also stepped down as chief executive, the company said. This massive turn of fortune for the once-second-largest crypto exchange further casts a shadow over the already troubled crypto market. “I’m really sorry, again, that we ended up here. Hopefully things can find a way to recover,” Mr Bankman-Fried, nicknamed the ‘King of Crypto’, wrote on Twitter on Friday. “I was shocked to see things unravel the way they did.” Prior to the meltdown,…
The Nigerian Association of Petroleum Explorationists (NAPE) has announced that its 40th Annual International Conference and Exhibition, AICE, which is perhaps the largest gathering of earth scientists and other stakeholders in the oil and gas space in Sub-Saharan Africa is set to take place in Lagos. The Association’s President, who made known at a Press Briefing on Wednesday in Lagos revealed the theme of the Conference is “Global Energy Transition & the Future of the Oil and Gas Industry: Evolving Regulations, Emerging Concepts & Opportunities.: He further stated that this year’s AICE will be held at the Eko Hotel &…