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The Chartered Institute of Stockbrokers (CIS) has expressed concerns about the impact of recent foreign exchange reforms on companies with significant foreign exchange components, noting that many of these companies are posting losses or substantially reduced profits. This statement was made by the CIS President and Chairman of the Council, Mr. Oluropo Dada, at the ...
The Nigerian Exchange Limited (NGX) has delisted the Shares of Arbico Plc from its Daily Official List of NGX. This was contained in the Exchange’s Weekly Report as seen by Nairametrics. The delisting follows the NGX’s approval of the Company’s application to delist its entire issued share capital The statement reads, “We refer to our ...
Investors gained N61.65bn on Tuesday trading as the NGX All-Share Index (NGXASI) advanced by 0.11% to 98,285.33 points. The total volume traded declined by 45.05 percent to close at N222.90m, valued at N5.15bn and traded in 7,228 deals. GTCO was the most traded stock by volume and value, with N40.64m and N1.62bn units traded. At ...
The earnings of Ecobank Transnational Incorporated (ETI), a pan-African banking conglomerate rose by 249 percent in the first three months of 2024, according to its latest financial statement on Tuesday. The group reported an after-tax profit of N140.8 billion from N40.4 billion in the first quarter of 2023. Interest income calculated using the effective interest ...
Seplat Energy Plc has emerged winner of the Best in Sustainability Reporting Award at the maiden Corporate Reporting Award, organised by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Ltd (NGX RegCo). The recognition was announced at the ICAN/NGX RegCo Awards ceremony held in Lagos. It was a platform to recognise the ...
Analysis by Nigerian NewsDirect of last week’s Friday trading has shown that the Nigerian stock market lost N17 billion at the close of trading on Friday. This is as the All-Share Index (ASI) declined to 98,125.73 from 98,233.76 at the close of the previous trading day. The loss was largely attributed to a value dip ...
Dangote Cement has been honoured with the top prize at the inaugural Corporate Reporting Award, jointly organized by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited. The leading cement manufacturer received the Platinum award for excelling across all three reporting categories, showcasing exemplary reporting practices that comprehensively address all relevant aspects ...
The Federal Government has listed its April 2024 Savings Bonds worth N4.214 billion on the Nigerian Exchange Limited platform. This was disclosed in the market bulletin signed by Godstime Iwenekhai, Head, Issuers Regulation Department of NGX. According to the bulletin, “Trading License Holders are hereby notified that the April 2024 Issue of the Federal Government ...
The NGX All-Share Index declined by 0.13 percent to close at 97,343.42 basis points on Wednesday. This is as investors also lost N73.85bn making the stock market to close negatively, losing 130.56 basis points with a negative market breadth. The NGX-ASI decline follows the previous day’s loss of 0.24 percent to close at 97,473.98 basis points ...
As part of its capacity building functions, Lagos Commodities and Futures Exchange (LCFE), has onboarded and inducted another 23 Commodities Brokers, the fourth edition in the series, to increase the number of professionals to specialise in various asset classes in the Nigerian commodities ecosystem. On the list of those inducted last week were the Managing ...
President Bola Tinubu has asked the Senate to screen and confirm four persons appointed as board members of the Securities and Exchange Commission (SEC), the apex regulator of Nigeria’s Capital Market. The President’s request was contained in a letter read by the Senate President, Godswill Akpabio during the plenary on Wednesday. The appointed members of ...
Nigeria’s equities market furthered its movement southwards as more investors took sell positions on Tuesday. The market decreased further by 0.24 percent or N132 billion at the close of trading on Tuesday as more investors exited long positions in some stocks. This week, the market has decreased by 0.77percent. Stocks like PZ Cussons, Dangote Sugar, ...
Nigerian Exchange Group Plc realised N6.959 billion from transaction fees and treasury investment income in the 2023 financial year ended 31 December 2023. This/ was contained/ in the group’s 2023 annual financial report. The amount represents a 34.19 percent growth over N5.187 billion reported in 2022 by the group and also cumulatively accounts for 83.85 percent ...
Unilever Nigeria Plc and its shareholders have approved the dividend of 75 kobo per share, an increase from the 25 kobo declared in 2022. A statement by Unilever said during the Company’s 99th Annual General Meeting, which was held in Lagos on Monday, it declared a dividend of N4,308,753,750 for the year ended December 2023. ...
GTCO Plc will be listing its shares on the official lists of both the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE). This follows an approval by GTCO shareholders at its third Annual General Meeting where they approved the company’s plan to establish a capital raising programme of $750 million. The capital raise will ...
Nigeria’s stock market opened the new week on a negative note after decreasing by 0.53 percent or N297 billion. No thanks to shares of Seplat Energy Plc which recorded its highest dip this year as more investors sold the stock than those willing to buy. The share price of the energy company decreased most on ...
The Nigerian Exchange Ltd. (NGX) has listed N4.075 billion of AVA Infrastructure Series One Fund on its trading platform. The Head, Issuers Regulation Department of NGX, Mr Godstime Iwenekhai disclosed this in a statement during the weekend in Lagos. Iwenekhai said AVA Global Asset Managers Ltd’s., AVA Infrastructure Series 1 Fund of 4,075 units of ...
The stock market on the Nigerian Exchange Ltd. (NGX) on Wednesday closed flat as the capitalisation declined by N2 billion amid sell-offs in Dangote Sugar and 19 other stocks Notably, the market capitalisation which opened at N55.554 trillion, shed N2 billion to close at N55.552 trillion. Consequently, the All-Share Index also lost five points to settle ...
The Naira on Monday further appreciated at the official market, trading at N1,354.21 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N46.19. This represents a 3.29 percent gain when compared to the previous trading ...
Investors in the Nigerian equities market started the trading week with a loss of N499bn. This follows the tumble in the share prices of stocks like Airtel Africa, Berger Paints, Industrial Medical Gases and International Energy Insurance. Similarly, the NGX-All-Share Index ASI decreased to 98,703.68 from 99,587.25 recorded at the close of the previous trading ...
...Vows to support digital assets players contributing to economic growth By Matthew Denis, Abuja In a strategic move to curb the Vows to support digital assets players contributing to economic grow the manipulation of the Naira in the Fx market and strengthen the currency, the Securities and Exchange Commission (SEC) has revealed plans to delist ...
The equities market declined on Friday, with profit-taking in stocks such as Zenith Bank, Guaranty Trust Holding Company (GTCO), Wema Bank, Nigerian Breweries, and Nestle Nigeria, among others. Following a flip-flop trading session, the market capitalisation which opened at N55,520 trillion, lost N9 billion or 0.02 percent, to close at N55.511 trillion. The All-Share Index ...
Over the course of the week, investors on the Nigerian Exchange Ltd. (NGX) equities market lost a total of N784 billion, week-on-week. Specifically, the market capitalisation, which opened the week at N56.296 trillion, shed N784 billion or 1.39 percent to close the week at N55.512 trillion. The All-Share Index also declined by 1.39 percent or ...
