No plan to shut petrol unit — Dangote refinery –

The Dangote Petroleum Refinery has denied a report that it could shut its petrol unit for two to three months. The spokesman of the Dangote Group, Anthony Chiejina, described the report as “fake”. Reuters had reported that the petrol unit at the 650,000 barrel-per-day Dangote refinery may be shut for two to three months for repairs, quoting industry monitor IIR Energy. According to the report, the unit was said to have been shut since around August 29 after catalyst leaks…….(Read More)

Risk-off Sentiment Deepens As Stock Investors Lose N832bn In 1 Week –

The Nigerian equities market extended its bearish trajectory last week, as weak sentiment and risk-off positioning dominated trading activity. The NGX All Share Index (ASI) shed 0.94 per cent week-on-week to close at 138,980.01 points. In tandem, market capitalisation fell by N832 billion to N87.937 trillion, trimming the year-to-date return to 35.03 per cent. The persistent downturn highlights lingering macroeconomic uncertainties that have tempered investors’ appetite for risk assets………(Read More)

Guinea Insurance gets shareholder nod for recapitalization –

The shareholders of Guinea Insurance Plc have approved the firm to raise additional capital as may be required due to the signing of the Nigerian Insurance Industry Reform Act 2025. The approval was given at the 67th Annual General Meeting of the company, where shareholders virtually reviewed the company’s performance over the past year and set a clear path for its next phase of growth and transformation. During the meeting, Mr. Temitope Borishade presided over deliberations on a range of ordinary and special business matters…….(Read More)

Mortgage equity contributions surge 279% to N39bn –

Equity contributions for residential mortgages under the Contributory Pension Scheme surged 279 per cent year-on-year in Q1 2025, reaching N39.86bn and benefiting 8,408 Retirement Savings Account holders. This was disclosed in the first quarter report of 2025 from the National Pension Commission. In comparison, Q1 2024 recorded N10.52bn disbursed to 1,390 RSA holders. The upward trend was consistent throughout 2024, with N18bn released to 2,491 holders in Q2, followed by N32.62bn to 3,925 holders in Q3, and N30.24bn to 7,094 holders in Q4.…..(Read More)

Recapitalisation: UBA Extends N157.84bn Rights Issue By 2 Weeks –

United Bank for Africa (UBA) Plc has extended its ongoing N157.843 billion rights issue. UBA stated this in a notice to the Nigerian Exchange, signed by the group company secretary/legal counsel, Bili Odum. The bank hereby notifies its shareholders, the NGX, stakeholders, and the general public that the acceptance/application period for its ongoing rights issue, initially scheduled to close on September 5, 2025, has been extended by two weeks and will now close on September 19, 2025, following the receipt of approval from the Securities and Exchange Commission (SEC)……(Read More)

Trump says European leaders will visit US this week to discuss Russia-Ukraine war –

U.S. President Donald Trump said on Sunday that individual European leaders would visit the United States on Monday or Tuesday to discuss how to resolve the Russian-Ukraine war. Speaking to reporters after returning from the U.S. Open in New York City, Trump also said he would speak to Russian President Vladimir Putin soon. “Certain European leaders are coming over to our country on Monday or Tuesday individually,”……(Read More)