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Worrying trend as 9mobile loses over 3 million Subscribers in 2 years

There appears to be more worries for Nigeria’s telecommunication network, 9mobile, as the company has lost 3.49 million internet subscribers in the last two years. According to a data obtained from the Nigerian Communications Commission (NCC), 9mobile’s mobile internet subscribers stood at 12.8 million in May 2017, but the figure dropped to 9.3 million in May 2019. […]

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Did Airtel Africa’s listing drag MTN Nigeria’s shares down on the NSE?

MTN Nigeria performed poorly today on the Nigerian Stock Exchange, the same day its local rival,Airtel Africa, listed its shares on the Nigerian bourse in a cross border listing. Recall that Airtel Africa, last month, listed on the London Stock Exchange (LSE) where it had a rather disappointing debut. The stock slumped 15%, losing about £400 million of its opening […]

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Access Bank and Union Bank refute acquisition rumours, but history contradicts claims

Africa’s largest lender by customer base, Access Bank Plc, has reacted to media reports that it is planning to acquire Union Bank of Nigeria Plc less than six months after acquiring Diamond Bank Plc. In a statement published on the Nigerian Stock Exchange (NSE) and signed by the Company Secretary, Sunday Ekwochi, Access Bank urged its customers and the general public […]

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Peak Milk shows RUGA isn’t needed in Southern and Western Nigeria

Peak Milk’s latest business move in Niger State has reopened discussion regarding the Rural Grazing Area (RUGA) settlements for Fulani Herdsmen which was proposed by President Muhammadu Buhari. The acquisition of hectares of land by the dairy company in the Northern State renewed the debate that there’s enough room for Fulani Herdsmen to rear their cattle in the […]

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Nigeria’s internet download speed ranks one of slowest in the world

Nigeria’s internet download speed has gone from bad to worse as a report from the UK-based price comparison website, Cable, revealed that the country’s internet download speed is one of the slowest in the world. According to the report, Nigeria’s internet download speed is ranked 176th of 207 countries measured globally. The report further shows that […]

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According to CSL’s H2 economic outlook, Nigeria is walking on eggshells

Against the backdrop of a pessimistic global outlook for 2019, we maintain our growth forecast for the Nigerian economy at 2.1% y/y in 2019. We expect growth from the non-oil sectors, led by the information and communication sector as the adoption of information and communication technology (ICT) by the country’s teeming population continues. However, we believe […]

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Fidson Healthcare lists additional shares on NSE but falls short of capital target

Pharmaceutical firm, Fidson Healthcare Plc has listed more shares on the Nigerian Stock Exchange (NSE). The company disclosed that the additional shares were listed by way of a Rights Issue, however, the targeted capital was not raised. Fidson listed 586,360,250 million Ordinary Shares on Monday, July 1, 2019. This additional shares listed, according to a statement sent to the Exchange, arose from […]

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Signing AfCTA agreement; Our concerns for Nigeria by CSL Stockbrokers

Over the weekend, the president, as earlier announced, signed the African Continental Free Trade Area (AfCTA) agreement at an extraordinary summit of the African Union (AU) in Niger Republic. The signing comes one year after the presidency expressed unwillingness to give assent to the agreement due to concerns around the negative implications it could have on […]

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Three reasons the NSE expelled 38 stockbroking firms in six months

Thirty-eight stockbroking firms have been expelled from the Nigerian Stock Exchange (NSE) in the last six months. This takes the total number of firms expelled in the past two years to 120, a new report has shown. The expulsion of the 38 firms was ordered by the National Council of the Exchange after investigations into their affairs by the management […]