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2 weeks ago | 
punchng.com | damilola aina |Solomon Odeniyi |Temitope Aina
Despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians, the embattled Crypto Bridge Exchange trading platform, accused of these acts, has resumed operations, announcing fresh withdrawal options in a move to restore investor confidence.
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2 weeks ago | 
punchng.com | Sami Tunji |Temitope Aina
Fitch Ratings has upgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings of Kaduna, Kogi, Lagos, and Oyo states from ‘B-’ to ‘B’, reflecting improved macroeconomic stability and recent policy reforms in Nigeria. The global ratings agency announced the development on its website on Saturday, noting that the outlook for all four states remains Stable. According to Fitch, the rating action follows the upgrade of Nigeria’s sovereign credit rating from ‘B-’ to ‘B’ on April 11, 2025.
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2 months ago | 
punchng.com | Sami Tunji |Temitope Aina
Foreign investors withdrew N455.62bn from the Nigerian stock market in 2024, significantly outpacing total inflows and reinforcing concerns about investor confidence despite the Central Bank of Nigeria’s efforts to stabilise the naira. Industry experts attributed this to the volatility of the naira, stressing that it created uncertainties and that inflation also caused a blurry future for foreign investors.
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2 months ago | 
punchng.com | Dare Olawin |Arinze Nwafor |Olasunkanmi Akinlotan |Temitope Aina |Gabriel Oshokha
Marketers of petroleum products have expressed concerns that the alleged harassment of tanker drivers by officials of the Lagos State Government could lead to fuel scarcity in a few days, as some filling stations were shut in various parts of the state on MondayThey also vowed to shut down operations in the South-West if the 30 tankers arrested by the Lagos State Government are not released.
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2 months ago | 
punchng.com | Sami Tunji |Temitope Aina
Economists have warned that the monetary and fiscal policy authorities in Nigeria must collaborate to avoid a fresh rise in inflation following the retention of the country’s benchmark interest rate at 27.50 per cent by the Monetary Policy Committee of the Central Bank of Nigeria on Thursday. CBN’s MPC retained the rate at the committee’s 299th meeting in Abuja.
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Jan 16, 2025 | 
thesun.ng | Temitope Aina
By Temitope Aina Insightful Edutech is set to redefine student digital experience with the unveiling of launch of a career website. The newly launched website is expected to serve as a groundbreaking tool to empower high school students across Nigeria to make informed career decisions.
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Jan 16, 2025 | 
punchng.com | Temitope Aina
The Nigerian insurance sector has achieved a collective market capitalisation of N519.04bn, with top players such as AXA Mansard Insurance, AIICO Insurance, and Cornerstone Insurance leading the way. AXA Mansard Insurance, with a market cap of N81.9bn, leads the sector despite a slight decline of 1.62 per cent in its share price. AIICO Insurance follows closely with a market cap of N61.5bn, experiencing a minor decrease of 1.18 per cent.
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Jan 16, 2025 | 
punchng.com | Temitope Aina
Universal Insurance Plc has announced the appointment of Japhet Duru as its new Managing Director/Chief Executive Officer, effective January 10, 2025. In a statement filed by the Company Secretary, Chinedu Onyilimba, on the Nigeria Exchange Limited on Thursday, Duru, who joined the company last August as Executive Director, Technical Operations, has been serving as the acting MD/CEO since September 2024, following the departure of Benedict Ujoatuonu.
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Jan 16, 2025 | 
punchng.com | Temitope Aina
The co-founder of Guaranty Trust Bank, Fola Adeola, has sold 18,250,000 units of shares in Aradel Holdings valued at N10.9bn. In a notice filed on the Nigeria Exchange Limited recently, the transaction, which took place on December 31, 2024, was executed at a price of N598.50 per share. Aradel is an integrated energy company with operations spanning upstream, midstream, downstream, power, and renewables. Adeola, a shareholder in Aradel Holdings, holds over five per cent of the company.
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Jan 16, 2025 | 
punchng.com | Temitope Aina
Fidelity Bank. Photo Credit: Google Fidelity Bank Plc has announced plans to increase its issued share capital from N26.7bn to N36.7bn. This development was disclosed in a statement filed on the Nigeria Exchange Limited by the company secretary, Ezinwa Unuigboje, on Thursday. According to the statement, this resolution will be presented at the bank’s Extraordinary General Meeting, set for February 6.
