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Equity investors gained a total of N349 billion week-on-week, as the Nigerian Exchange Ltd.(NGX) market capitalisation appreciated by 0.63 percent to close the week. Specifically, the All-Share Index closed at 96,579.54 points, having opened at 95,973.45 points, while the market capitalisation, which opened at N55.129 trillion, closed at N55.478 trillion. The positive performance was driven ...
The Securities and Exchange Commission (SEC) has granted two digital assets Exchanges “Approval-in-Principle” to commence operation under the Accelerated Regulatory Incubation Program (ARIP). Ms Efe Ebelo, the spokesperson of the commission announced this in a statement on Thursday in Lagos. According to Ebelo, the companies that were granted the approval are Busha Digital Ltd., and ...
By Esther Agbo In a significant development, the Bank Directors Association of Nigeria (BDAN) has strengthened its leadership team with the appointment of two new directors following the retirement of three longstanding board members. The association’s leadership changes coincide with a remarkable 138.9 percent surge in its total income for 2023, underscoring the effectiveness of ...
...Investors make N146bn as equities market rebounds from previous losses on Friday The figure represents 46 per cent increase from N20.4 billion posted in the corresponding period of year 2023. Mr Taofeeq Giwa, Chief Financial Officer (CFO) of the company, announced this at the firm’s Half Year Financial Performance and Investor Relations Conference Call, held ...
Opening the week, investors’ interest in the stocks of BUA Foods, FBN Holdings, Zenith Bank, among others advanced equities boosted the overall market index by 0.07 per cent. Specifically, the market capitalisation which opened at N55.129 trillion, gained N37 billion or 0.07 per cent to close at N55.166 trillion. The All-Share Index also rose by ...
Nigeria’s external reserves have recorded a marginal decline of 1.16 percent ($430 million) in the last two weeks since the Central Bank of Nigeria (CBN) reintroduced the retail Dutch auction in the foreign exchange (FX) market. Data from the CBN showed that the foreign currency reserves dropped to $36.44 billion on Thursday August 22, 2024 ...
Investors in the Nigerian equities market recorded a mixed trading week on the floor of the NGX losing N2.45 billion as market capitalisation fell to N55.12 trillion from N55.13 trillion the previous week. This follows a loss of N846 billion in the previous week. The bourse recorded losses in two of the five trading days ...
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 79 pips to 7.1228 against the dollar on Thursday. 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 percent from the central parity rate each ...
Investors in the Nigerian equity market lost N64 billion on Thursday due to selloffs in Zenith Bank, FBN Holdings, Transcorp Hotels and other stocks. The market capitalisation dropped by N64 billion, or 0.12 percent, closing at N54.983 trillion, down from the opening value of N55.047 trillion. Similarly, the All-Share Index decreased by 0.12 percent, losing ...
By Esther Agbo Infinity Trust Mortgage Bank (ITMB) announced plans to raise N50 billion through a capital market offering, a move aimed at expanding its operations and transitioning into a digital commercial bank. The N50 billion is said to be raised through private placement. This announcement was by the Acting Managing Director and CEO of ...
By Esther Agbo In a move to enhance Nigeria’s food security and boost the local economy, BUA Foods Plc has partnered with Turkish manufacturing giant IMAS to significantly expand its milling operations. The agreement, signed recently, will see the construction of four new wheat and flour mills, adding a combined daily capacity of 3,200 tonnes ...
The Nigerian Exchange (NGX), All-Share Index (ASI) yesterday experienced a slight dip, falling by 0.07 percent. The All-Share Index declined by 64.41 percent, representing a loss of 0.07 percent, to close at 95,831.51 points. However, the overall market capitalisation value gained N599 billion to close at N55.047 trillion. This surge in market capitalisation value was ...
By Esther Agbo Union Bank of Nigeria, under the leadership of its Managing Director and CEO, Yetunde Oni, has announced the commencement of a strategic recapitalisation process. This move comes as part of a broader effort to enhance the bank’s capital base and align with the Central Bank of Nigeria’s (CBN) recent directives aimed at ...
By Esther Agbo In a bid to bolster Nigeria’s capital market and support the Federal Government’s ambitious $1 trillion economy target, the Securities and Exchange Commission (SEC) has intensified efforts to attract more companies to list on the Nigerian Exchange. This strategic move is seen as a key component of the broader economic framework set ...
The Nigerian Exchange Ltd. (NGX) has lifted the suspension placed on trading in the shares of Guinea Insurance Plc, effective Aug.12. NGX, in its weekly report made available to newsmen in Lagos, confimed that the suspension was lifted because the insurer had filed its audited financial statements for the year ended Dec. 31, 2023. The ...
By Esther Agbo United Capital Group has played a pivotal role in advancing Sierra Leone’s financial landscape by leading the issuance of the country’s first corporate bond denominated in local currency. The bond, valued at SLE32 million (approximately US$1.4 million), was structured for LAPO SL, a microfinance institution dedicated to supporting micro, small, and medium ...
The domestic bourse, for the fourth consecutive session, extended its losses by N57 billion, driven by selloffs in FBN Holdings, Access Corporation and Transnational Corporation, among others. Specifically, the market capitalisation, which opened at N55.188 trillion, shed N57 billion or 0.10 percent to close at N55.131 trillion. Also, the All-Share Index lost 0.10 per cent, ...
The Securities and Exchange Commission (SEC) on Wednesday vowed to ensure the settlement of unclaimed dividends, which stood at N215 billion as at March. Dr Emomotimi Agama, Director-General, SEC, said this at a news conference to highlight the outcome of the second Capital Market Committee (CMC) meeting held in Lagos. Agama, who is also the ...
By Esther Agbo The Nigerian equities market has again seen a bearish performance maintaining its downtrend since the week as Oando and 24 others led the local bourse to a southward close with a decline of N108 billion. The All-Share Index (ASI) lost 190.41 points, representing a decline of 0.195 percent to close at 97,199.60 ...
Access Holdings Plc has extended the duration for the acceptance of subscription to its ongoing Rights Issue. The company was Initially set to close its rights issue on August 14, 2024, however, the period has now been extended to August 23, 2024, following the approval of the Securities & Exchange Commission (SEC). The statement, signed by ...
By Esther Agbo Nigeria’s equities market continued its negative trend on Tuesday by 0.50 percent, representing about N279 billion loss as investors sold stocks like Nestle Nigeria and 28 others laggards on the Lagos Bourse. The All-Share Index (ASI) lost 490.93 points, representing a decline of 0.50 percent to close at 97,390.01 points. Also, market ...
By Esther Agbo Guinea Insurance Plc has turned around its financial performance, posting a profit after tax of N477.77 million for the 2023 fiscal year, a significant leap from the N83.27 million loss recorded in 2022. This remarkable turnaround represents a 673.7 percent improvement and signals a return to profitability for the Nigerian insurance firm. ...
By Esther Agbo Ecobank Transnational Incorporated has announced a remarkable profit after tax of N311 billion for the first half of 2024, representing an impressive 196 per cent surge compared to the N105 billion recorded in the corresponding period last year. However, a deeper look at the bank’s performance reveals a complex narrative of both ...
