Zenith Bank has started the process to raise N290bn fresh capital through rights issues and a public offer, to bolster its expansion efforts The bank is issuing 5.23 billion shares at N36 each to existing shareholders and 2.77 billion shares at N36.50 each to the public. This was disclosed by the Group Managing Director/Chief Executive […]
Continue Reading
Zenith Bank Plc has said part of its ongoing N289.38 billion hybrid offer will be used for the growth and expansion of its global operation. The Bank is raising N289.38 billion through a combination of a rights issue and a public offer. The rights issue offers 5.233 billion ordinary shares of 50 kobo each at […]
Continue Reading
The Central Bank of Nigeria has disclosed that the net foreign exchange flows into the country increased to $25.4bn in the first six months of 2024, marking a 55 percent increase from the figure recorded year-over-year. It said the evident progress is a result of its policy measures, as the naira closed at N1,596 against […]
Continue Reading
Karl Toriola: MTN CEO MTN Nigeria Communications PLC, on Wednesday, said it had renegotiated the binding commercial terms of the existing infrastructure sharing and master lease agreements with IHS and ATC Nigeria. Specifically, the company said it had revised the terms of its contract with IHS to substantially reduce the US dollar-indexed component of the […]
Continue Reading
In the latest testament to the Central Bank of Nigeria’s (CBN) ongoing commitment to support the proper functioning of the foreign exchange market by enhancing liquidity when necessary, the apex bank offered $876 million to fulfill bids submitted by customers at an auction concluded on Wednesday, August 7, 2024. In line with its pledge to […]
Continue Reading
Dollar to Naira CBN Rate Today Dollar to Naira (USD to NGN) CBN Rate Today Buying Rate N1605 Selling Rate N1606 Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary. Naira Fights Back Against US Dollar At Official Market The Nigerian […]
Continue Reading
Nigerian magnate and industrial powerhouse, Aliko Dangote, has stormed back to the pinnacle of Africa’s rich list, reclaiming his title as the continent’s wealthiest man on the Bloomberg billionaire index, mere days after ceding it to South African tycoon, Johann Rupert. In a dramatic turn of fortunes, Bloomberg reports that Dangote’s immense wealth surged by […]
Continue Reading
The Naira on Monday appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N9.93. This represents a 0.61 percent gain when compared to the previous trading date […]
Continue Reading
The naira, on Monday, August 5, 2024, appreciated at the official market, trading at N1,607.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira gained N9.93. This represents a 0.61 percent gain when compared to the […]
Continue Reading
BUA Cement released its 2024 second-quarter results, revealing a pre-tax profit of N18.8 billion. This represents a 54.00% year-over-year decline from a profit of N40.9 billion reported in 2023. Revenue spiked by 76.80% year-over-year from N114.7 billion the previous year to N202.8 billion in Q2 of 2024. However, BUA Cement’s earnings per share fell by […]
Continue Reading
