Sterling Financial Holdings Company Plc has listed an additional 16.67 billion ordinary shares on the Nigerian Exchange Limited following the completion of its private placement. The NGX, in its Market Bulletin issued on Monday, confirmed the listing, stating that the newly added shares arose from Sterling HoldCo’s private placement of 16,666,666,667 ordinary shares of 50
Trading activity in the insurance sector of the Nigerian Exchange Limited remained strong on Tuesday, as investors exchanged 72.36 million shares across 951 deals, with Cornerstone Insurance Plc and International Energy Insurance Plc emerging as the top gainers. Market data showed that Cornerstone Insurance Plc recorded the highest price gain of 9.25 per cent, closing
The Federal Government of Nigeria has expanded its bond listings with an additional 910.3 million units of its existing February 2025 bonds on the Nigerian Exchange Limited. A statement by NGX on Monday disclosed that the supplementary listing included 305.36 million units of the 19.30 per cent FGN APR 2029 bond and 605.03 million units
The Nigeria Customs Service has intercepted 1,149 jerrycans of Premium Motor Spirit allegedly smuggled through the Dorofi and Kan Iyaka axis along the Gembu-Cameroon border in Taraba State. The Comptroller General of Customs, Bashir Adeniyi, disclosed this on Friday in Jalingo, the state capital, while auctioning the seized petroleum products to the public. Adeniyi said
A devastating explosion rocked the Trans-Niger Pipeline in Rivers State on [date], sending shockwaves through the community and raising concerns about the safety of the pipeline. According to eyewitnesses, the explosion occurred at about [time] in the morning, causing widespread destruction and panic in the area. The pipeline, which is operated by the Nigerian National
Justice Chukwujekwu Aneke of the Federal High Court in Lagos has adjourned proceedings in the N12.3 billion fraud case involving the Chairman of Honeywell Group, Oba Otudeko, and three others to May 8, 2025, for an update on settlement discussions. The adjournment followed an agreement by all parties to allow the Attorney General of the
SEC Revokes Mainland Trust’s License The Securities and Exchange Commission (SEC) has revoked the operating license of Mainland Trust Limited and suspended Centurion Registrars Limited, citing their failure to comply with regulatory directives and resolve multiple investor complaints. The regulatory action, announced in two separate circulars over the weekend, aims to protect investors and uphold
The Federal Government has reiterated its commitment to ensuring transparency and accountability in the administration of expatriate quotas, following recent concerns over alleged irregularities in the oil sector. Last week, the Petroleum and Natural Gas Senior Staff Association of Nigeria staged a protest at the headquarters of Sterling Oil Exploration and Energy Production Company in
Amid Persistently High Cost of Goods Nigeria’s inflation rate declined for the second consecutive month in February 2025, falling to 23.18% from 24.48% recorded in January, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). Despite this decline, many Nigerians and economists remain concerned about the sustained high
Aero Contractors Airline and the Nigerian Safety Investigation Bureau (NSIB) have formalized a Memorandum of Understanding (MoU) to strengthen collaboration in industry-led safety training, knowledge sharing, and human capital development, further reinforcing aviation safety in Nigeria. Both organizations emphasized that this initiative reaffirms Nigeria’s commitment to maintaining global aviation safety standards. The agreement, signed at
