Ogochukwu Onwaeze, THEWILL

The ASI opened at 244,802.11 points but fell by 2,579.01 points to close at 242,223.10 points. Market capitalisation, however, remained unchanged at N158.721 trillion between the opening and closing figures provided for the session.

CORAN, in a statement by its Publicity Secretary, Eche Idoko, said the rising cost of diesel should concern Nigerians because the fuel is widely used by factories, farms, transport operators, telecommunications companies and other businesses.

Dangote Petroleum Refinery and Petrochemicals FZE could be worth significantly more than the valuation implied by its planned Nigerian Exchange (NGX) listing, according to independent estimates from CardinalStone Research and Chapel Hill Denham.

Nigeria has reduced the processing time for Certificates of Origin under the African Continental Free Trade Area (AfCFTA) from more than five days to 24 hours, in a move to make it easier for local businesses to access preferential trade opportunities across Africa.

Nomba, an African digital bank focused on businesses, has secured a $3 million debt facility from CardinalStone Finance Company as it expands its cross-border payment infrastructure and strengthens financial links between African markets and Asia.

President Bola Ahmed Tinubu’s administration has announced more than $50 billion in investment commitments since taking office in May 2023, but actual Foreign Direct Investment (FDI) inflows have remained a fraction of the pledged amount.

CBN Governor, Olayemi Cardoso, represented by Deputy Governor, Economic Policy Directorate, Philip Ikeazor, gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja.

The Securities and Exchange Commission has approved the sale of 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion. The offer is scheduled to run from September 14 to October 13, with the shares expected to begin trading in November.

Brent crude futures climbed to an intraday high of $99.46 per barrel, its highest level since July 24, before easing to settle at $97.92. US West Texas Intermediate crude also rose to a six-week high, settling at $93.03 per barrel.

Selected companies will receive coaching, technology and infrastructure support, corporate connections and other resources aimed at strengthening their products and commercial traction.