•A worker displays a one kilogram gold bullion bar Gold prices were largely steady on today as investors remained cautious about the fragile U.S.-Iran ceasefire. Spot gold inched 0.1% higher to $4,721.51 per ounce, as of 0523 GMT. U.S. gold futures for June delivery fell 0.7% to $4,744.90, reports Reuters. Investors were also mindful of [&he...
The Nigeria stock market traded cautiously last week, even as investors sustained the ongoing rally. Consequently, despite the shortened trading days of the week due to the Easter holidays, capital appreciation reached over N837 billion on the Nigerian Exchange Limited, NGX, reports Vanguard. The NGX market capitalisation, which represents the...
The Supreme Court has affirmed November 22, 2024 judgment of the Court of Appeal in Abuja which upheld an arbitral award against Emerging Markets Telecommunications Services Limited (EMTSL) – doing business as 9Mobile – in favour of two aggrieved investors. The arbitral award, made on September 26, 2022, required EMTSL to refund the $43,033,95...
•Power transmission line The federal government and investors in the Nigerian Electricity Supply Industry (NESI) have expressed differing views on whether state governments currently have the capacity to regulate electricity markets within their jurisdictions. The disagreement surfaced at an event in Abuja marking the 20th anniversary of the N...
The federal government through the Federal Inland Revenue Service (FIRS) said yesterday that it has directed banks, stockbrokers, and other financial institutions to deduct a 10 per cent withholding tax on interest earned from investments in short-term securities. Before this directive, short-term bills were tax-exempt to boost returns for inv...
•Goodluck Jonathan Former President Goodluck Jonathan has made a strong case for an independent judiciary, warning that no investor will commit funds to an economy where the judiciary is compromised and subject to political control. But like Spurinna, the Roman soothsayer, warned Julius Caesar to “Beware the Ides of March”, the Catholic Bishop...
Nigeria’s equities market faltered for the second straight week, with the NGX All-Share Index (ASI) falling 2.5 percent week-on-week (w/w) to close at 141,004.14 points. The sustained bearish momentum, which also saw market capitalisation drop by the same margin to N89.2 trillion, reflected a combination of factors — from rising fixed-income...
•A woman walks past an electronic board showing Nikkei 225 index on the Tokyo Stock Exchange Asian markets edged mostly upward in muted morning trading today, one day before a key speech expected to offer signals about future interest rate cuts in the United States. US Federal Reserve Chairman Jerome Powell, who has resisted public […]...
•Wike Investors under the aegis of Abuja Technology Village Free Trade Zone, have dragged the Federal Capital Territory FCT minister, Nyesom Wike, before the Federal High Court in Abuja, challenging the legality of the administrative decisions he took in relation to activities at the Abuja Free Trade Zone. They claimed that the decision culmin...
The Nigerian National Petroleum Company Limited has raised an alarm that some individuals are impersonating it, demanding money from investors. A statement yesterday by the NNPC spokesman, Olufemi Soneye, stated that the individuals solicited fees for meetings with the NNPC board of directors, executives, and management staff, saying the actio...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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