Latest in
Governor Babajide Sanwo-Olu of Lagos, alongside the Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has called for better investor education. This to enhance market confidence and promote a healthy financial environment. They made the call on Monday at the opening of the 2024 International Organisation of Securities Commissions (IOSCO) World Investor ...
Stakeholders have emphasised the need for improved funding, capacity building, and a shift in mindset of Micro Small and Medium Enterprises (MSMEs) in the country. The stakeholders spoke as panellists at the ongoing 2024 National MSME Conference organised by the Small and Medium Enterprises Development Agency (SMEDAN) in Abuja. The conference was with the theme ...
Fidelity announces N200.8bn pre-tax profit for period ending June 30, 2024 Fidelity Bank PLC has announced a pre-tax profit of N200.8 billion in its recently published financial statements for the period ending June 30, 2024. This represents a significant 163 percent year-over-year (YoY) increase from the same period in 2023, as gains from financial ...
The Nigerian equities market recovered from previous losses on Friday as investors went home with a N262 billion profit at the close of the day’s trading. This followed a surge in the share prices of stocks like Seplat, ABCTRANS, and livestock amongst others on the trading floor. After five hours of trading at the capital ...
Savannah Energy PLC, a British independent energy company, has announced its unaudited half-year results for the period ending June 30, 2024, revealing a robust financial performance marked by a 3 percent increase in production in Nigeria. Total income surged by 40 percent to $233.4 million, up from $167.6 million in the same period last year. ...
Nigeria’s equities market decreased further by N671 billion at the close of trading session on Thursday. The market’s negative close happened as investors sold mostly industrial and consumer goods stocks despite rally seen in oil & gas and insurance stocks. Shares of Africa’s largest cement maker, Dangote Cement Plc decreased most on the Nigerian Exchange ...
Flour Mills of Nigeria Plc plans to raise additional capital to the tune of N200 billion subject to approval of its shareholders. This was disclosed in a statement by the company’s secretary announcing the 64th Annual General Meeting (AGM). The AGM will also feature the presentation of the audited financial statements for the fiscal year ...
The Nigerian equities market began the week positively on Monday September 30, 2024 as investors gained N57bn at the end of trading on the floor of the Nigerian Exchange Group (NGX). This followed a surge in the share prices of stocks like AFRIPRUD (Africa Prudential Plc), ABBEYBDS (Abbey Mortgage Bank Plc) and NSLTECH (Secure Electronic ...
United Bank for Africa (UBA) Plc, Africa’s global bank, has announced a financial performance for the first half of 2024, reporting a 39.6 percent rise in gross earnings to N1.37 trillion. This growth is an increase from N981.77 billion recorded in the same period of 2023, according to the bank’s audited financial results released on ...
Investors in the Nigerian equities market enjoyed a profitable trading week raking in N121.07bn on the floor of the Nigerian Xchange Group (NGX) as equity capitalisation rose to N56.78trn from N56.46trn the previous week. This follows a gain of N454.86bn in the previous week. The bourse recorded gains in three of the five trading days ...
Investors in the Nigerian equities market lost N37 billion at the close of trading on Friday. This followed the dip in the share prices of stocks like CAVERTON, NNFM, and UPL, amongst others on the trading floor today. After five hours of trading at the capital market, the equity capitalization crashed to N56.5 trillion from ...
The Securities and Exchange Commission has warned entities engaging in illegal fund management activities to desist forthwith or be ready to face the law. The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said this in Abuja on Sunday in preparation for the Commission’s World Investor Week (WIW). Agama said the Commission’s ...
BUA Foods Plc has declared a revenue of N729.4 billion, an increase of 74.4 percent relative to its 2022 revenue. The Chairman of BUA Foods, Alhaji Abdul Rabiu, said this at the 3rd Annual General Meeting of the company on Thursday in Abuja. While presenting the Annual Report and Accounts of the company for the ...
PZ Cussons Nigeria Plc reported a pre-tax loss of N5.2 billion in its interim financial statements for the period ending August 31, 2024. This figure represents an 86 percent year-over-year improvement compared to the N38.6 billion pre-tax loss the group recorded in the same period last year. Despite this loss, the group experienced a surge ...
Investors in the Nigerian equities market gained N241 billion at the close of trading on Wednesday. This followed a surge in the share prices of stocks like Seplat, Flour Mills, Ellah Lakes amongst others on the trading floor. After five hours of trading at the capital market, the equity capitalisation increased to N56.8 trillion from ...
Nigeria’s equities market furthered its movement into the green region by 0.18 percent or N104 billion on Tuesday, defying the Central Bank of Nigeria (CBN) further hike in monetary policy rate (MPR) in the latest push to rein in inflation. This week, the market has risen by 0.33 percent, while this month it has risen ...
Ahead of the outcome of the ongoing Monetary Policy Committee (MPC) meeting, Nigeria’s equities market opened the new week in green, rising by 0.14 percent on Monday. Stocks like Flour Mills (+9.81 percent), Fidelity Bank (+9.93 percent), and FCMB Group (+10 percent) helped push the market higher. “We expect investors to remain cautiously optimistic, ahead ...
Nigeria’s leading digital commercial retail bank, Polaris Bank has surpassed its previous full-year profit before tax by more than 28 percent in the first eight months of this year, in a major performance shift that underlines significant improvements in the bank’s cost and credit risk management. Growing customers’ confidence, improved margins and a strong performance ...
The Securities and Exchange Commission (SEC) says it will encourage government agencies and state owned enterprises to list on the Nigerian Exchange Ltd. (NGX). The Director-General (D-G) of SEC, Dr Emomotimi Agama in an interview with journalists in Abuja on Thursday, said the listing of the companies on the NGX would guarantee democratisation of their ...
Geregu Power Plc posted a 15 percent gain in two days. Its share price moved from N1,000 as of the start of trading on September 17 to close at N1,150 at the close of trading on September 18. Within those two days, about N2.6 billion worth of the stock’s shares were traded in the Nigerian ...
Nigeria’s equities market on Thursday recorded its first negative close in this holiday-shortened trading week. The NGX All-Share Index (ASI) decreased by 0.19 percent, following record sessions of positive closes in early trading this week. All key sectoral indices closed Thursday in red, with major profit taking seen in banking, insurance and consumer goods stocks. ...
Nigeria’s equities market on Wednesday furthered its journey northwards as investors bought banking, insurance, and oil & gas stocks despite profit taking in consumer good and industrial counters. SFS Real Estate Investment Trust (REIT) increased most by N16.30 or 9.99 percent, from N163.15 to N179.45. Honeywell Flour Mills also rose from N4.92 to N5.41, up ...
The cryptocur rency trading platform Binance has outlined two conditions that must be met before it can consider registering under Nigeria’s Securities and Exchange Commission’s (SEC) special framework program for onboarding Virtual Assets Service Providers (VASPs), including crypto platforms. Binance’s position is in response to the regulatory frameworks set out for cryptocurrency platforms by Nigeria’s ...
