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MTN Nigeria, PZ Cussons, UACN top stock picks this week
This is not a buy, sell or hold recommendation, but a stock investment guide. You may need to involve your financial advisor before making investment decisions.
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Crypto ‘scammers on overdrive’ as Binance customers pull billions from accounts after $6.3bn hack – business live
Rolling coverage of the latest economic and financial news Elsewhere this morning: oil prices have retreated after reports that US president Donald Trump wants to give diplomacy with Iran more time before possibly restarting strikes after the midterm election result. Brent crude, the international benchmark for oil prices, is down 2.6% to about $110 a barrel.
business
The draft Nigeria Economic Policy Framework and the necessity of fiscal discipline, By Uddin Ifeanyi
What to make of the new draft economic framework within this context? First, a question: Can Nigeria establish a credible long-term economic policy framework if its own budgetary practices make nonsense of the discipline, predictability, and accountability that this very framework is expected to put in place?..
business
'Impossible to get ahead': Canberra inflation rate rises above national average
The ACT's inflation rate jumped to 4.7 per cent in the 12 months to September this year, and with households curbing costs some Canberra business owners have been left without customers and unable to afford wages.
business
Minimum Wage: NLC sets agenda for next negotiations
*Decries poor pay, job insecurity, no welfare protection for Nigerian journalists By Victor Ahiuma-Young & Omotola Aremo The Nigeria Labour Congress, NLC, has identified inflation, the cost of living, the value of the naira, transportation, housing and workers’ purchasing power as major issues that must shape the next national minimum wage negotiations. The NLC President of NLC, Joe Ajaero, spoke weekend in Lagos, at the 2026 Labour Writers Association of Nigeria, LAWAN, Annual Conference in Lagos, themed; “Workers at the centre of Nigeria’s Political Transition: Defending rights, advancing…
business
Could government spending cuts help fight inflation? Here are the facts
Could government spending cuts help fight inflation? The Reserve Bank is tipped to increase interest rates tomorrow because of an ongoing concern that inflation is not under control.
business
Highly capitalised stocks push gain to N2 trn in October
…As investors reap N4.5trn WoW By Peter Egwuatu The Nigerian stock market strengthened Month-on-Month (MoM), in October 2026, as renewed buying interest in heavyweight stocks lifted the benchmark of the Nigerian Exchange, NGX Index above the 250,000-point psychological threshold. Meanwhile on Week-on-Week, WoW the market gained N4.595 trillion as market capitalisation rose from N160.519 trillion the previous week in October to close at N165.114 trillion last week while the NGX ASI rose by 2.9% from 247,222.27 points previous week to close at 254,299.49 points last week.
business
PS Kiptoo Projects Double-Digit Economic Growth as Kenya Maintains 5pc Expansion
KISII, Kenya Nov 2 – National Treasury Principal Secretary Chris Kiptoo says Kenya is laying the foundation for double-digit economic growth, citing improved macroeconomic stability and rising investor confidence. Speaking at Osinani Catholic Church in Kilgoris, Transmara West, the PS said Kenya had outperformed several economies on the continent, many of which were recording growth rates of between 2 and 3 per cent.
business
Millions in UK brace to remortgage on worse deals as rate rise looms
More than 2.3m households face jump in payments in 2027, after expected increase in Bank of England rate this week More than 2.3m UK households face a sharp rise in mortgage payments as they come off fixed-rate deals in 2027, with the Bank of England expected to begin raising interest rates this week. The Bank’s nine-member monetary policy committee (MPC) is widely expected to increase the base rate from 3.75% to 4% on 5 November after UK inflation rose further to 3.5% in September.
business
The US-China trade war seems to have subsided – but the sense of calm is misleading
A truce has cooled the trade conflict, but neither country has done anything to limit the outbreak of new hostilities Donald Trump’s trade wars have largely fallen off the headlines. Fears of new tariffs flare up from time to time when the US president goes off the rails – for instance, threatening to end US trade with countries with which it has a deficit unless the Federal Reserve cuts interest rates.
business
Encroachment along Pokuase-Nsawam Highway raises road safety concerns at Dobro
Concerns over road safety and the progress of construction works along the Pokuase–Nsawam Highway have resurfaced following the emergence of container shops, sand and chippings businesses, and concrete mixer rental services within a road buffer zone at Dobro in the Eastern Region. Management is also appealing to the Ministry of Roads and Highways, the Eastern Regional Minister, the Municipal Assembly, the police and other responsible authorities to ensure the concerns are addressed.
business
itel Energy offers 48-hour repairs, product replacement to customers at exhibition
Speaking on the sidelines at the exhibition, the Chief Executive Officer and Co-Founder of SunFi, a major distributor of itel Energy products, Rotimi Thomas, said the commitment boosted customers’ confidence in the products distributed through the company. The company’s National Distributor Manager, Lucky Ovenseri, said itel Energy had distribution coverage across Nigeria’s 36 states, with showrooms and dedicated energy after-sales centres in major cities, including Lagos, Abuja, Port Harcourt, Ibadan and Kano.
business
Dollar to Naira exchange rate today, November 2, 2026
The naira’s exchange rate against the US dollar remains a major focus for businesses, importers, investors and Nigerians who depend on foreign currency for international transactions. Official NFEM exchange rate Data published by the Central Bank of Nigeria (CBN) showed that the naira traded at an average rate of ₦1,346.2565 per dollar on Friday, October 30, the latest available official trading data ahead of Monday’s session.
business
Binance Claims To Recover 90% Of $6.3bn Hack Losses
Cryptocurrency platform Binance said Saturday it has used company money to buy tokens to replenish 90 percent of $6.3 billion stolen in a huge hacking attack. President Donald Trump said Friday that the United States was looking into the hack, and the FBI said it was “engaged with relevant public and private partners to understand the scope of the activity” and was ready to investigate.
business
Country diary: As winter approaches, all eyes here are on heating oil prices
Inkpen and Combe, Berkshire: If the price goes down, the village WhatsApp group lights up Beyond the reach of the gas mains, there is tension about the coming winter. If the price per litre drops, as during the June ceasefire, the village WhatsApp group lights up.
business
OPEC+ holds December oil output steady to support market stability
By Udeme Akpan, Energy Editor The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC+, have agreed to maintain their September 2026 required production levels for December to support stability in the global oil market. The countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — reached the agreement at a virtual meeting on November 1, 2026, where they reviewed “global market conditions and outlook”.
business
Dangote challenges Lotus Capital to take ‘Elephant Steps’ in Nigeria
By Matthew Johnson PRESIDENT and Chief Executive of Dangote Industries Limited, Aliko Dangote, has challenged Lotus Capital Limited to take “elephant steps” in its next 20 years by expanding investments in Nigeria’s productive sectors. Chairman of Lotus Capital, Mr Fola Adeola, said the company’s first investment product, the Halal Fund, was oversubscribed after it sought to raise N1 billion, reflecting growing acceptance of non-interest finance.
business
Britain shouldn’t apologise for slave trade; Africa profited — Kemi Badenoch
By Nkiruka Nnorom, with agency report Leader of UK’s Conservative Party, Kemi Badenoch, has urged British not to apologise for its role in transatlantic slave trade, saying it would amount to a “navel-gazing distraction”, and would be used as lever for financial compensation by campaigners. Her comments came as UK’s PM, Andy Burnham, said he was considering a formal apology, before he flies to the Commonwealth heads of government meeting (CHOGM) in Antigua and Barbuda next week.
business
ECG announces power outage in parts of Ashanti Region on November 3
The Electricity Company of Ghana (ECG) has announced a planned power outage in parts of the Ashanti Region on Tuesday, November 3, 2026, to carry out maintenance work to improve electricity service delivery. The affected areas include Pankrono, Besease, Boankra, Kubease, Wiamoase, Kokotiasua, Bosore, Kenyase, Akate Farms and surrounding communities.
business
VAST Ghana calls for comprehensive excise tax reforms in 2027-2030 Budget Statement
The Vision for Accelerated Sustainable Development Ghana (VAST Ghana) has called on the Ministry of Finance to introduce comprehensive excise tax reforms in the 2027-2030 Budget to reduce the growing burden of non-communicable diseases (NCDs). A statement copied to the Ghana News Agency by Ms Jennifer Maame Ama Owusu, Communications Manager, VAST Ghana, said the excise tax reform would help protect vulnerable populations and mobilise sustainable domestic resources for healthcare financing.
business
Highly capitalised stocks push gain to N2trn in October
By Peter Egwuatu The Nigerian stock market strengthened Month-on-Month (MoM), in October 2026, as renewed buying interest in heavyweight stocks lifted the benchmark of the Nigerian Exchange, NGX Index above the 250,000-point psychological threshold. Meanwhile on Week-on-Week, WoW the market gained N4.595 trillion as market capitalisation rose from N160.519 trillion the previous week in October to close at N165.114 trillion last week while the NGX ASI rose by 2.9% from 247,222.27 points previous week to close at 254,299.49 points last week.
business
Edward Asare inducted as Full Member of CIMG
Marketing Communications and Public Relations Professional, Edward Asare, has been inducted as a Full Member of the Chartered Institute of Marketing, Ghana (CIMG), marking another milestone in his professional career. He particularly acknowledged the Institute’s President, Michael Abbiw, and Vice President, Ama Amoah, for their support.
business
Banks raise lending rates for top borrowers despite CBN cuts
*Raise prime rates in 8 sectors, cut maximum rates *Agric, construction, manufacturing face higher rates *Analysts warn of delayed impact of CBN rate cuts By Babajide Komolafe, Economy Editor Despite interest rate reductions by the Central Bank of Nigeria (CBN), banks have raised average prime lending rates in several key sectors of the economy, defying expectations of cheaper loans for businesses across the country. Uneven transmission of rate cuts Commenting on the development, Tunde Abioye, Head, Equity Research, Quest Merchant Bank, said the divergence between the Monetary Policy Rate…
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