Business

There are corporate failures that deserve to be treated as ordinary business casualties. Companies rise, companies fall, markets change and inefficient businesses eventually disappear. But the demise of NICON Insurance Limited is different.

Africa’s biggest refinery opens its doors to public investors with a N2.15 trillion share offer, as Aliko Dangote signals plans to take more group companies public.

The proposal emerged during a high-level meeting between the Minister of Power, Joseph Tegbe, and TBEA executives at the company’s headquarters in Beijing.

The figure rose from N1.86 trillion in H1 2025, reflecting a significant increase in the value of agricultural, mineral and other raw materials shipped out of the country.

The Centre for the Promotion of Private Enterprise estimates that restoring universal petrol subsidy could cost the government N19.16tn annually The think tank warns that the potential N52.5bn daily bill could crowd out spending on infrastructure, healthcare CPPE...

The offer comprises 4.1 billion new ordinary shares priced at N525 each, according to a statement issued by the company on Sunday. The minimum subscription is 10 shares, costing N5,250.

Last week was a reminder that financial markets rarely move because of one story.

Market capitalisation stood at N158.33 trillion at the end of July before rising to a record N160.42 trillion on August 10. The market subsequently came under sustained selling pressure, with the All-Share Index (ASI) recording 10 consecutive losing sessions.

The Association of Securities Dealing Houses of Nigeria (ASHON) has called for an urgent review of the National Insurance Commission’s (NAICOM) revocation of Universal Insurance Plc operating licence, arguing that the action raises serious concerns for investors and the wider Nigerian capital market.

The subscription channels available to prospective investors include the Zenith Bank website, Zenith mobile application, internet banking, USSD, corporate internet banking and any of the bank’s branches nationwide.