Iheanyi Nwachukwu

Lagos

Assistant Editor at BusinessDay Nigeria

Finance

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Articles

IMG, others drive NGX major dip this week

1 week ago | businessday.ng | Iheanyi Nwachukwu

…ASI drops by 0.68% as investors lose N445bnDecline in the share price of Industrial & Medical Gases Nigeria Plc (IMG) and other major laggards on the Nigerian Exchange Limited (NGX) caused the All-Share Index (ASI) to decrease by 0.68 percent on Wednesday, its highest dip since this week.
Sahara Group signs 20-year LNG sales, purchase agreement with Amigo

1 week ago | businessday.ng | Iheanyi Nwachukwu

Sahara Group has signed a landmark 20-year LNG Sales and Purchase Agreement (SPA) with Amigo LNG S.A. de C.V., the Mexican subsidiary of Singapore-based LNG Alliance, to enhance global efforts aimed at driving seamless energy access and security. Under the terms of the agreement, Sahara Group will purchase 0.6 MTPA of LNG from Amigo LNG’s export terminal in Guaymas, Sonora, Mexico.
Addosser debuts N10bn Commercial Paper programme to scale financial solutions for underserved markets

1 week ago | businessday.ng | Iheanyi Nwachukwu

Addosser Microfinance Bank Limited has launched a N10 billion Commercial Paper (CP) Issuance Programme, registered on the FMDQ Securities Exchange Limited. The launch was commemorated by a formal signing ceremony which held on Tuesday April 15 and hosted at the office of the Lead Issuing House, Anchoria Advisory Services Limited.
Oil palm growers to replant 1.5m hectares on rising appetite

1 week ago | businessday.ng | Iheanyi Nwachukwu

…As BUA, OOP, others ramp up investmentsOil palm growers are planning to replant 1.5 million hectares of land over the next five years across the 27 oil palm producing states in Nigeria. This is targeted at leveraging the rising local and global palm oil demand and driving foreign exchange earnings through export. The initiative, developed by the Oil Palm Growers Association of Nigeria (OPGAN), is contained in the Oil Palm Development Strategy for Nigeria 2024 – 2029.
Stock market up 0.03% as Unilever, others rally

1 week ago | businessday.ng | Iheanyi Nwachukwu

Nigeria’s stock market rerouted north on Tuesday by 0.03 percent as investors bought Unilever Nigeria Plc and other value counters. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation increased from 104,529.62 points and N65.685 trillion respectively to 104,560.02 points and N65.704 trillion. In 13,228 deals, investors exchanged 368,769,054 shares worth N10.871billion.
NGX Group commemorates legacy of retired directors

1 week ago | businessday.ng | Iheanyi Nwachukwu

… Calls for strengthened market collaborationNigerian Exchange Group (NGX Group) has celebrated the extraordinary contributions of its retired directors, whose visionary leadership played a pivotal role in shaping the evolution of Nigeria’s capital market.
CSCS reports strong 2024 results as PBT rises by 24%, proposes N1.76 dividend

1 week ago | businessday.ng | Iheanyi Nwachukwu

Central Securities Clearing System (CSCS) Plc has released its audited consolidated and separate financial statements for the year ended December 31, 2024, delivering a robust performance marked by double-digit growth in revenue and profitability. Total revenue surged by 37 percent to N26.1 billion in 2024, up from N19 billion the previous year. Profit before tax also rose significantly, climbing 24 percent to N13.8 billion, compared to N11.2 billion in 2023.
Nigeria's Oil Palm Growers to replant 1.5m hectares in industry revamp plan

1 week ago | businessday.ng | Iheanyi Nwachukwu

The Oil Palm Growers Association of Nigeria (OPGAN) plans to revamp the industry by replanting 1.5 million hectares of land over the next 5 years across the 27 major oil palm producing States in Nigeria. This was contained in the Oil Palm Development Strategy for Nigeria 2024 – 2029 which OPGAN developed to propel Nigeria’s oil palm industry from its current 5th position to the 3rd rank in global palm oil output.
How banks can accelerate Nigeria's $1trn GDP target

1 week ago | businessday.ng | Iheanyi Nwachukwu |Hope Moses-Ashike |Onyinye Nwachukwu

…As CBN says investors responding to FX stabilityAs the race for bank recapitalisation intensifies, the Central Bank of Nigeria (CBN) says that the sector is essential to actualising Nigeria’s $1 trillion gross domestic product (GDP) target. Olubukola Akinniyi Akinwunmi, director, Banking Supervision Department, CBN, said this on Monday at the ongoing seminar for finance correspondents and business editors, in Abuja.
$1trn economy: CBN insists banking sector essential to power Nigeria's growth

1 week ago | businessday.ng | Iheanyi Nwachukwu |Onyinye Nwachukwu

…says investors responding to FX stabilityAbuja|| As the race for bank recapitalisation intensifies, the Central Bank of Nigeria (CBN) insists that the sector is essential to power Nigeria’s growth to a $1 trillion economy. Olubukola Akinniyi Akinwunmi, director, Banking Supervision Department, CBN said this on Monday at the ongoing seminar for finance correspondents and business editors, in Abuja.