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By Seun Ibiyemi The Nigerian stock market gained N170 billion on Thursday, lifted by strong rallies in PZ Plc, Eterna Plc, and Champion Breweries, which topped the gainers’ chart. The benchmark All-Share Index (ASI) rose to 142,979.46 points from 142,710.48 points the previous day, while market capitalization advanced to N90.7 trillion, up from N90.5 trillion ...
By Seun Ibiyemi Investors in the Nigerian equities market saw significant gains on Tuesday, recording a market capitalization increase of N465 billion, driven by notable price surges in select stocks. The benchmark All-Share Index (ASI) climbed by 0.23% to close at 142,710.48 points, up from 142,377.56 points the previous day. Consequently, the total equity market ...
By Seun Ibiyemi Investors in the Nigerian equities market gained N155bn at the close of trading on Monday, driven by renewed interest in select stocks. The market upturn was buoyed by price appreciation in Thomas Wyatt Nigeria, Skye Shelter Fund Plc, and LivingTrust Mortgage Bank, among others, lifting the benchmark All-Share Index (ASI) to 142,377.56 ...
By Seun Ibiyemi Despite experiencing a three-day losing streak, the Nigerian equities market closed the just-ended trading week with a net gain of N216 billion, as market capitalisation rose to N89.9 trillion from N89.7 trillion the previous week. Similarly, the All-Share Index (ASI) appreciated by 0.20 per cent, settling at 142,133.03 points compared to 141,845.35 ...
By Seun Ibiyemi The Securities and Exchange Commission (SEC) has raised alarm over the rising wave of Artificial Intelligence (AI)-driven scams. According to SEC, AI-driven manipulated videos of politicians, celebrities, and TV hosts are now being shared widely through Facebook advertisements, Instagram reels, and Telegram groups. In a statement on Sunday, SEC said fraudsters are ...
The Asset Management Corporation of Nigeria (AMCON) on Thursday offloaded 34 per cent of its stake in Unity Bank Plc to Providus Bank. This has strengthened the business combination deal between Providus and Unity Bank. The 34 per cent total equity stake in Unity Bank was transacted through a crossed deal on the floor of ...
By Seun Ibiyemi The Nigerian equities market opened the week on a bearish note, with investors losing about N220 billion on Monday as sell pressure hit key stocks, including McNichols Plc, Ikeja Hotels Plc, and FTN Cocoa. The All-Share Index (ASI) fell to 141,498.44 points, down from 141,845.34 points at the close of the previous ...
By Seun Ibiyemi Stanbic IBTC Holdings Plc has announced a profit after tax of ₦173.43 billion for the first half of 2025, marking a significant 49% increase compared to the ₦116.36 billion recorded in the same period of 2024. This strong performance was primarily fueled by a surge in net interest income and higher fees ...
By Seun Ibiyemi First Bank of Nigeria Limited has thrown its weight behind history in the making as it partners with the organisers of the maiden E1 Lagos GP, an all-electric powerboat racing championship set to hold in Lagos from October 3 to 5, 2025. The announcement was made during the E1 Lagos GP Stakeholder Immersion Session in Lagos, ...
Shareholders of Red Star Express Plc have approved a dividend payout of N0.35 per share for the 2025 financial year, representing an improvement over the N0.27 paid in 2024. The resolution was passed at the company’s 32nd Annual General Meeting (AGM), which was held virtually. The dividend amounts to a total of N334.05 million, up ...
Royal Exchange Plc said it received a letter from Nova Finance Securities Limited, the Financial Advisers to Nexamont Company Limited (Nexamont), notifying the Company that Nexamont has acquired 1,770,499,535 units of ordinary shares of Royal Exchange Plc through the secondary market. This share purchase by Nexamont represents at least 21.4 percent equity stake in Royal ...
..As Insurance stocks trade 481m shares By Seun Ibiyemi The Nigerian Exchange Ltd. (NGX) closed the week on a positive note as the All-Share Index (ASI) and market capitalisation appreciated by 0.92 per cent each, finishing at 141,845.35 points and N89.744 trillion, compared with 140,545.69 points and N88.922 trillion recorded last week. As a result, equities ...
Prestige Assurance Plc has announced its unaudited financial results for the second quarter ended June 30, 2025, showing strong growth in its operations and a commitment to customer service satisfaction through significant claims settlement. The results published on the Nigerian Exchange Group (NGX) show that the company recorded a 32 percent increase in Gross Premium ...
•Naira closes week at N1,488/$1 The Nigerian capital market saw a mixed week of trading, with equities taking a slight hit while other asset classes, like fixed income, gained ground. On the close of trading on Friday, the Nigerian Exchange (NGX) experienced a minor slip, with the All-Share Index (ASI) dipping by 0.29% to close ...
Nigerian investors saw a total gain of N143 billion in the equities market on Thursday, driven by strong performance from several stocks, including Guinness Nigeria, Eunisell Interlinked Plc, and Regal Insurance. The All-Share Index (ASI), a key market indicator, rose to 142,263.07 points, up from 142,036.23 points the previous day. This upward movement pushed the ...
By Seun Ibiyemi Union Bank of Nigeria has completed the full redemption of its Series 2 15.75 percent Bond Issue with the payment of both principal and coupon totalling N6.314 billion on September 3, 2025. This payment fulfils the bank’s obligations to bondholders in accordance with the regulations set by the Securities and Exchange Commission ...
By Seun Ibiyemi Zenith Bank Plc, Nigeria’s biggest lender by market value, reported a pre-tax profit of N625.6 billion for the first half of 2025, down 14 percent from N726.3 billion a year earlier, as soaring impairment charges offset strong growth in interest income. According to the bank’s filing, net income slipped 8 percent to ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has ramped up its sale of U.S. dollars in the foreign exchange market, a move that comes in response to a significant 12% drop in the nation's foreign exchange (FX) inflows during the month of August. The figure represents a 76% increase from $326 million sold ...
...as Vision Invest joins board In one of Africa's largest private infrastructure transactions to date, ARISE Integrated Industrial Platforms (ARISE IIP) has successfully completed a $700 million capital raise. The deal welcomes Saudi Arabian investor Vision Invest as a new shareholder, joining existing investors Africa Finance Corporation (AFC) and the Fund for Export Development in ...
The Nigerian Exchange Limited (NGX) is considering a proposal to extend its daily trading hours, a move aimed at increasing market liquidity and aligning the exchange with global standards. NGX CEO Jude Chiemeka announced the plan during a recent meeting with market operators, stating that a longer trading window is part of a strategy to ...
First City Monument Bank (FCMB) has announced a strategic partnership with Truecaller to improve how it communicates with customers. The collaboration aims to enhance trust, reduce fraud, and ensure that all communication between the bank and its customers is both secure and seamless. Through this partnership, FCMB will use Truecaller’s Customer Experience Solution and Branded ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has devalred that its extensive economic reforms are aimed at bolstering financial stability, deepening inclusion, and boosting national productivity. This was announced by CBN Governor, Olayemi Cardoso, during the bank's fair in Kano, which focused on "Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth ...
By Seun Ibiyemi Eterna Plc has projected a profit after tax of N1 billion for the 2025 financial year, signaling confidence in sustaining profitability despite weaker revenues and cash flows compared to the previous year. According to its earnings forecast filed with the Nigerian Exchange, the downstream oil and gas company expects its full-year income ...
