Dangote stocks decline amid merger denial, forex crisis

Dangote stocks decline amid merger denial, forex crisis

The recent decrease in the stock prices of the Dangote Group, which includes Dangote Sugar Refinery and NASCON Allied Industries, has been attributed to foreign exchange losses and the Securities and Exchange Commission’s decision to reject their merger request. Analysts suggested that the ongoing inflationary pressures and forex volatility have worsened these challenges. The depreciation of the naira has increased the cost of importing raw materials, further squeezing profit margins. […]

August 15, 2024 32

NEWS

Mikel, Drogba lure Osimhen to Chelsea

ormer Chelsea midfielder Mikel Obi has categorically stated that he will do his utmost to see compatriot Victor Osimhen sign for the London club. The former Super Eagles captain, in a video posted on X, added that another club legend, Didier Drogba, was also in contact with the Napoli striker, as they hoped to convince him to make a switch to Stamford Bridge. Osimhen’s future remains the subject of intense viral […]

August 15, 2024 14

NEWS

AVEVA improves software with new features

AVEVA, an industrial software vendor, has announced new features and flexible pricing models for its InTouch Unlimited software, designed to help businesses easily develop, deploy, and scale their industrial applications. The software firm said in a press statement on Monday that the newly enhanced software package offered an all-inclusive licensing model available in both perpetual and subscription formats, providing unlimited tags, clients, and scalability. The update also introduces advanced process […]

August 15, 2024 8

NEWS

Hunger protest: Police begin trial of 1,135 detained demonstrators

Several state Police Commands in the northern part of the country have begun the prosecution of arrested protesters during the 10-day #EndBadGovernanceInNigeria nationwide protest. While the protests were relatively peaceful in the South, it turned violent in the North with several lives lost, property worth billions of naira destroyed, leading to the declaration of curfew in no fewer than five states. The protests, which held from August 1-10, was against […]

August 12, 2024 6

NEWS

ICPC grills top NAHCON officials over N90bn Hajj subsidy

Some top officials of the National Hajj Commission of Nigeria have been arrested by the Independent Corrupt Practices and Other Related Offences Commission over alleged mismanagement or diversion of the N90bn released by the Federal Government to subsidise the 2024 Hajj pilgrimage to Saudi Arabia. The officials were arrested in their offices and taken to the anti-graft agency’s office following their failure to honour earlier invitations extended to them by […]

August 12, 2024 8

NEWS

‘Prison straight’, Netizens react as woman destroys husband’s passport at Lagos airport

Several reactions have trailed the video showing the moment a woman destroyed her husband’s Nigerian passport at the Murtala Muhammed International Airport, Lagos, on Saturday, August 10, 2024. The incident, captured on video, showed a female traveller, identified as Mrs Igiebor, tearing her husband’s Nigerian Standard Passport shortly after they arrived at the Lagos Airport. In the footage, agitated Igiebor, when questioned about her actions, retorted, “Is it your passport?” […]

August 12, 2024 10

BUSINESS

Dangote petrol: Marketers wait as delivery date extended again

There are strong indications that the Dangote Petroleum Refinery may not roll out petrol on Monday in line with its earlier schedule. The President, Dangote Group, Alhaji Aliko Dangote, had last month projected that the refinery would begin the production of petrol between August 10 and 12, 2024.

August 12, 2024 12

NEWS

Eleven dead, others injured in Abia auto crash

At least eleven persons were killed on Sunday, including two babies following a tragic road accident near Umuika Junction on the Enugu-Aba-Port Harcourt Expressway in Abia State. The road crash at about 12:45 pm happened when a Sienna car belonging to Abia Line Network crashed with a loaded truck. An eyewitness, who gave his name as Ochiegbu Marvelous, told ABN TV, that the driver slept off on the steering, lost […]

August 12, 2024 17

ENTERTAINMNET

I’ve not cut ties with Mr Ibu’s family – Jasmine

Jasmine Okekeagwu, the alleged adopted daughter of late actor, John Okafor, popularly known as Mr Ibu, has said that the drama that ensued between her and the family during the actor’s last days and after his demise, she has not cut ties with the family. Speaking in an interview with Saturday Beats, she said, “I won’t say I cut ties with them totally. I am just focused on myself, and saving myself […]

August 12, 2024 12

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