Global Market News

Asia stocks edge up, oil and gold retreat on tempered Mideast fears "” Reuters

Asian stocks recovered some losses on Monday, and bond yields rose as fears of a wider Middle East conflict ebbed, with investors gravitating back towards riskier assets. Click here for more

Currencies calm but cautious after a weary week "” Reuters

The euro and yen were relatively steady in early Asian trading on Monday, and the U.S. dollar stayed near its highs after last week's hectic policy and geopolitical developments. Click here for more

Macroeconomic News

Marketers eye N700/litre diesel after Dangote price cut "” Punch

The Independent Petroleum Marketers Association of Nigeria says it is expecting that the Dangote refinery will reduce the price of its diesel further to about N700 per litre. Click here for more

FG to attract Nigerian's foreign savings with new Diaspora Bond "”Vanguard

The Federal Government said yesterday it planned to float a Diaspora Bond to attract funds held abroad by Nigerians at home and in the Diaspora. Click here for more

Nigeria set to receive $2.25bn W'Bank loan ""Edun"” The Sun

Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, at the weekend, revealed that Nigeria has qualified for a $2.25 billion World Bank facility with 1 per cent interest, 40-year tenure and 10 years moratorium for repayment. Click here for more

Nigeria emerges best-performing stock market in Africa "” The Sun

Despite bearish dominance, Nigeria's stock market still topped Africa's best-performing market chart, beating the likes of Uganda, Egypt, Ghana, Kenya, and two other countries, an Afrinvest report has revealed. Click here for more

Nigeria needs to diversify the economy, says IMF "” Punch

The International Monetary Fund has said that Nigeria needs to diversify its economy to meet its developmental needs. This was disclosed by the Director of the African Department, International Monetary Fund, Abebe Aemro Selassie, during the African Department April 2024 Press Briefing held on Friday. Click here for more

Company News

First Bank Appoints Olusegun Alebiosu As Acting MD/CEO "” Leadership

First Bank of Nigeria (FBN) has appointed Olusegun Alebiosu as its acting managing director with effect from April, 2024. The Bank stated this in a release signed by its acting company secretary, Adewale Arogundade. Click here for more

Transcorp Hotels divests 100% stake in Calabar subsidiary "” This Day

Transcorp Hotels Plc yesterday announced the divestment of its 100 percent interest in Transcorp Hotels Calabar Limited to Eco Travels and Tours Limited, an indigenous hospitality company. Click here for more

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