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CWG Plc has released its financial report for the year ending 31 December 2024, posting a pre-tax profit of N4.4 billion for the full year. This marks a substantial 290.24 per cent year-on-year increase compared to the N1.1 billion reported in the previous year. The group’s annual revenue surged to N46.3 billion, reflecting a 97 ...
The Nigerian equities market continued to experience bearish sentiment during the recently concluded trading week, with a loss of N532 billion on the floor of the Nigerian Exchange (NGX). Reports indicate that investors had already recorded a loss of N365 billion in the previous week. Over the past week, the equities market recorded gains on ...
Bearish sentiment continued for the fourth day in the Nigerian equities market on Thursday with investors shedding N35 billion at the close of business. This followed the dip in the share prices of stocks like CUSTODIAN and others on the trading floor. After five hours of trading at the capital market, the equity capitalization fell ...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called for decisive action to support women entrepreneurs and Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. SMEDAN Director-General, Mr Charles Odii, made this appeal at the unveiling of SMEDAN’s GrowHer Accelerator Programme, organised to commemorate the 2025 International Women’s Day on Thursday in ...
Investors in the Nigerian capital market lost N289 billion at the close of trading on Wednesday. This followed the dip in the share prices of stocks like Livestock, Etranzact, and Wapic amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization fell to ¦ 65.7 trillion from ...
Sycamore Group, a Nigerian fintech firm managing over N10 billion in assets, has secured a Securities and Exchange Commission (SEC) licence, granting it the authority to operate as a regulated fund and portfolio manager. This SEC accreditation places Sycamore among Nigeria’s officially regulated investment firms, reinforcing its competitive position within the financial sector. Alongside this ...
By Seun Ibiyemi The stock market on Tuesday continued on a negative note as performance indices declined by 0.40 per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N265 billion or 0.40 per cent to N66.078 trillion from N66.343 trillion recorded on Monday. Also, the All-Share Index dropped by 0.40 per cent ...
Nigeria’s leading non-interest bank, TAJBank, has announced its intention to issue a N20 billion Mudarabah Sukuk bond as part of its strategy to reinforce its Additional Tier 1 capital. The bank’s Founder and Chief Executive Officer, Mr Hamid Joda, disclosed this in a statement on Monday, noting that the issuance is a component of TAJBank’s ...
The Securities and Exchange Commission (SEC) has announced plans to disclose the identities of Capital Market Operators who breach market regulations in its newly introduced “name and shame” journal. This decision was outlined in a recent public notice titled “Additional Enforcement Measures on Erring Capital Market Operators.” The SEC’s latest initiative reflects its uncompromising stance ...
The Securities and Exchange Commission (SEC) has revoked the registration of Mainland Trust Limited as a capital market operator, citing regulatory non-compliance and unresolved complaints against the company. The decision, which takes immediate effect, was made under Section 38 (4) of the Investments and Securities Act, 2007, and Rule 34 (1) (e) of the SEC ...
By Seun Ibiyemi The Nigerian equities market’s negative performance persisted during the recently concluded trading week, with investors seeing a decline of N365 billion on the Nigerian Exchange (NGX). This follows a loss of N476 billion in the previous week. During the current week, the market saw gains on only one out of the five ...
The Nigerian equities market rebounded from the previous day’s losses, recording a modest gain of ¦ 81 billion for investors by the close of trading on Thursday. This recovery was driven by an increase in the share prices of stocks such as UPDC, International Breweries, and Royal Exchange (Royalex), among others, on the trading floor. ...
Shareholders of Vitafoam Nigeria Plc have endorsed a N1.31 billion dividend payout for the 2024 financial year, reaffirming the company’s dedication to sustainable expansion. At the Annual General Meeting (AGM) held in Lagos, shareholders commended the firm’s consistent dividend history, noting that it reflects the board and management’s commitment to shareholder value. The approved dividend, ...
The Nigerian Exchange Group (NGX Group) has expressed its commitment to exploring opportunities for financing projects in Nigeria and facilitating capital raising. The Group Managing Director and CEO of NGX Group, Temi Popoola, reaffirmed the organisation’s dedication to identifying new avenues for financing and capital formation. Speaking during an interview at the First Bank ground-breaking ...
The Nigerian stock market on Friday witnessed a downturn as performance indices declined by 0.23 per cent. Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N151 billion or 0.23 per cent to N66.717 trillion from N66.868 trillion recorded on Thursday. Also, the All-Share Index dropped by 0.23 per cent or 242 points to ...
The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, has underscored the critical role of public-private partnerships in advancing gender parity and empowering women. Speaking at the 2025 International Women’s Day event organised by Nigerian Exchange Ltd (NGX) in Lagos, she stressed the need for decisive action to address the challenges limiting women’s ...
By Seun Ibiyemi The Nigerian equities market continued its downward trend in the just-concluded trading week, with investors incurring a total loss of N476 billion on the trading floor of the Nigerian Exchange (NGX). This follows the N421 billion loss recorded in the previous week, reflecting sustained bearish sentiment. Over the course of the week, ...
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 13 pips to 7.1705 against the dollar on Friday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate ...
Vitafoam Nigeria Plc, a leading manufacturer of flexible and reconstituted foams, has announced a dividend payment of ¦ 1.31 billion to its shareholders. This equates to ¦ 1.05 per ordinary share for the financial year ending 30th September 2024. The Group Managing Director of Vitafoam Nigeria Plc, Mr Taiwo Adeniyi, disclosed this on Friday in ...
Cutix Plc, manufacturer of industrial cables, has appointed Mrs Chinwendu Nwokporo as its new Company Secretary, effective March 1. This is contained in a corporate disclosure released through the Nigerian Exchange Ltd. (NGX) on Thursday. Chief Executive Officer of Cutix Plc, Ijeoma Oduonye said, “Cutix Plc wishes to notify NGX and the investing public of ...
Nigeria’s equities market rebounded on Thursday, rising by 0.32 percent after three consecutive days of losses. The market recorded its first gain of the month as investors actively bought shares in companies such as Transcorp, Africa Prudential, SCOA, and other major gainers. Many investors entered Custom Street in search of attractively priced stocks following a ...
By Seun Ibiyemi The Securities and Exchange Commission (SEC) has stated that victims of Ponzi schemes in Nigeria are predominantly women. The Director-General of the SEC, Dr Emomotimi Agama, made this remark on Thursday in Abuja during an event organised by the commission to commemorate International Women’s Day (IWD). Dr Agama highlighted the need to ...
Nigeria’s equities market decreased by 0.44 percent on Wednesday, thereby recording its third consecutive day of negative close this week. The stock market has since this month defied impressive full year scorecards released on the Nigerian Exchange Limited (NGX) by many listed companies, some proposing to pay dividend to shareholders as well as bonus shares ...
