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Investors lose N598bn as large-cap stocks decline

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The Nigerian stock market declined by N598bn at the end of last week as some large-cap stocks recorded price losses. The NGX All-Share Index depreciated by 2.63 per cent to close the week at 42,167.91 basis points from 43,308.29bps while the market capitalisation of stocks fell to N22tn from N22.6tn….





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Subsidy hits N199bn as Nigeria records zero revenue from oil export



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Nigeria got no revenue from crude oil export in the month of October, despite an average daily oil production of 1.417 million barrels in the month of September, latest report by the Nigeria National Petroleum Corporation, NNPC, has shown….



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Lagos Commodities Exchange, Heritage Bank to bridge $2b wheat import



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The Lagos Commodities and Futures Exchange (LCFE) has partnered with Heritage Bank Plc to create a structure for trading on wheat contracts and its allied products, in a major move expected to drastically cut Nigeria’s annual wheat import of $2 billion….



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Five banks’ interest income drops to N376bn, experts blame CBN cash reserve policy





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The combined net interest income of five publicly-quoted commercial banks has declined by N48.69bn in the last one year, according to the financial statements of the lenders analysed by our correspondent. Specifically, the five banks’ net interest income fell by 11.45 per….



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Director mag April - June 2021
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