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Despite analysts’ expectation that Nigeria’s equities market will continue its upward trajectory this week, record dip in stocks like BUA Cement, Lasaco, Japaul Gold and other major laggards on the Bourse caused the market to open this new week on a negative note (-0.74percent). The cement maker’s share prices lost N11 or 10 percent, from ...
The National Insurance Commission (NAICOM) has issued an exposure draft of its “Insurance Risk-Based Capital Regulation, 2024,” introducing new minimum capital requirements aimed at strengthening the capital adequacy and resilience of Nigeria’s insurance sector. The draft, detailed in a circular numbered NAICOM/TD/SUP/FA and signed by the Director of Supervision, Oluwatoyin Charles, was circulated to insurance ...
Ikeja Hotel Plc has reported a 188 percent increase in pre-tax profit in the first nine months of 2024. The company recorded a pre-tax profit of N3.089 billion between January and September 2024 compared to N1.07 billion in the same period of 2023. This is according to the company’s unaudited financial statement for the first ...
Guinness Nigeria Plc recorded a pre-tax loss of N16.03 billion in the period between July and September 2024. This is according to the company’s unaudited result for the first quarter of 2024/2025 where revenues more than doubled from N59.53 billion to N125.88 billion. During the period under review, the company saw a reversal of fortunes ...
NGX Regulation Limited (NGX RegCo), the regulatory arm of the Nigerian Exchange Group (NGX), has suspended trading in the shares of Oando Plc. NGXRegCo announced the suspension in a notice issued by the Head of Issuer Regulation in the organisation, Godstime Iwenekhai, and addressed to trading licence holders. The development comes seven months after the ...
...Equities market ends trading week with N156bn profit for investors Investors in the Nigerian equities market experienced a boom this trading week gaining N801 billion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation increased from N59.42 trillion to N60.26 trillion. This follows a gain of N3.34trn in the previous week. The ...
The Nigerian equity market closed the week on a positive note on Friday, with investors gaining N157 billion. Specifically, the Nigeria Exchange Ltd. (NGX) market capitalisation, which opened at N60.104 trillion, gained N157 billion or 0.26 per cent to close at N60.261 trillion. The All-Share index also added 0.26 per cent or 259 points, to ...
Nigerian Breweries Plc has posted N703 billion revenue generation for the third quarter ended Sept. 30, 2024. This indicates 75 percent growth, when compared with N402 billion, recorded in the corresponding period of 2023. The Managing Director, Nigerian Breweries Plc, Mr Hans Essaadi, said this in the company’s unaudited results sent to the Nigerian Exchange ...
The United Capital Group on Thursday reported that its total assets has increased by 36 per cent year-to-date, to stand at N1.26 trillion. The Group Chief Executive Officer, Mr Peter Ashade said this in the company’s financial result for the period ended Sept. 30, 2024 filed with the Nigerian Exchange Ltd.(NGX) in Lagos. Ashade said ...
The equity capitalisation crossed the N60 trillion mark on Thursday as investors in the Nigerian stock market gained N147 billion at the close of the day’s trading. This followed a surge in the share prices of stocks like ACCESSCORP, ACADEMY, and UPDC amongst others on the trading floor today. After five hours of trading at ...
The Nigerian equities market sustained its bullish sentiment on Wednesday as investors gained N31 billion at the close of the day’s trading. This followed a surge in the share prices of stocks like Oando, Unilever, and Eunisell amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalization ...
By Seun Ibiyemi Despite the economic challenges facing Nigeria, five tier-one banks recently approached the Nigerian stock market for capital, raising about N1.27 trillion as the push for sector-wide recapitalisation heats up. This indicates that investor confidence in Nigeria’s banking stocks remains strong. Even the government’s windfall tax on banks’ 2023 foreign exchange (FX) profits ...
...proposes name change to First HoldCo Plc at upcoming AGM FBN Holdings Plc has appointed Adebowale Oyedeji as its group managing director (GMD). The notice of the appointment was contained in a corporate disclosure notice filed to the Nigerian Exchange Group on Friday by the Holdco’s Company Secretary, Mr. Adewale Arogundade FBN Holdings said the ...
...Equities market closes week in red as investors lose N6bn By Seun Ibiyemi Investors in the Nigerian equities market experienced a boom this trading week gaining N3.34 trillion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation increased from N56.08 trillion to N59.42 trillion. This follows a gain of N49.53 billion in ...
The equity market extended its losses on Thursday as the market capitalisation dropped by N127 billion, or 0.21 percent, from N59.559 trillion to close at N59.432 trillion. Similarly, the All-Share Index declined by 0.21 percent, losing 210.2 points to close at 98,081.38, compared to 98,291.53 recorded on Wednesday. As a result, the year-to-date return decreased ...
The All-Share Index (ASI) has dipped by 25 basis points to close Wednesday’s trading at 98,291.53 points from 98,540.93 points on Tuesday. This is as investors lost N148.06 billion as the Nigerian equities market closed Wednesday’s trading session in the red zone. Market capitalisation also slid to N59.56 trillion, while the year-to-date return tumbled to ...
Aradel Holdings, yesterday, listed its shares on the Main Board of the Nigerian Exchange (NGX) at N702.69 per share. This follows the company’s recent announcement that it has signed a Sale and Purchase Agreement with global energy giant TotalEnergies and the Nigerian National Petroleum Company (NNPC) to acquire a 100 percent interest in the Olo ...
By Seun Ibiyemi Transcorp Power Plc, a subsidiary of Transcorp Group, has revealed its financial performance for the third quarter ending September 30, 2024, showcasing impressive growth. In its unaudited Q3 2024 results submitted to the Nigerian Exchange (NGX), Transcorp Power reported a revenue of N223.6 billion, marking a remarkable 153 percent increase from N88.4 ...
Investors in Nigerian equities market experienced a mixed trading week gaining N49.53 billion on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation increased to N56.08tr from N56.03 trillion. This follows a loss of N539.09 billion in the previous week. The bourse recorded gains in two of the five trading days of the ...
The Nigerian Exchange Ltd. (NGX) has suspended trading in the shares of Transnational Corporation Plc (Transcorp). The NGX, in its weekly report, said that the suspension, on Thursday, was necessary to determine the shareholders entitled to receive the firm’s reconstructed shares. The Exchange said that suspension was to prevent any trading activities while the company’s ...
To end the week, the stock market rebounded from previous losses, gaining N74 billion. Investor interest in MTN Nigeria, FBN Holdings, Guaranty Trust Holding Company (GTCO) and other equities lifted the market. Notably, the market capitalisation opened at N56.014 trillion, adding N74 billion or 0.13 percent to close at N56.088 trillion. The All-Share Index also ...
The naira depreciated against the dollar at the foreign exchange market to end the week on a negative note. FMDQ data showed that the naira weakened to N1641.27 per dollar on Friday from N1622.57 exchanged on Thursday, recording N18.7 loss. Meanwhile, the black market remained flat at N1700 per dollar on Friday, the same exchange ...
The Nigerian equities market sustained its bearish trend on Wednesday as investors lost N56 billion at the close of the day’s trading. This followed the dip in the share prices of stocks like ELLAH LAKES, ABC TRANS and ETERNA amongst others on the trading floor. After five hours of trading at the capital market, the ...
