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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 ...
...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 ...
Nigerian Breweries Plc has recorded N81.88 billion gross profit in the first quarter ending March 31. This represented an 87 percent increase when compared with N43.88 billion posted in the first quarter ended March 31, 2023. The company disclosed this in its unaudited condensed interim financial statements sent to the Nigerian Exchange Ltd., in Lagos. ...
Investors in the Nigerian equities market lost N199 billion at the close of trading on Tuesday. Before Monday’s N70 billion gain, investors had endured over two weeks of consecutive bearish trading sessions. Yesterday’s loss followed the dip in the value of stocks like Honey Well Flour, FBNH, Oando and FTN Cocoa Processors, amongst others on ...
The Board of MRS Oil Nigeria Plc will, at the company’s Extraordinary General Meeting (EGM), request shareholders’ endorsement to voluntarily delist from the Nigerian Exchange Limited (NGX). The decision to exit from the NGX was contained in the notice of an Extraordinary General Meeting to be held in Lagos on May 21, 2024. The company ...
Investors in the Nigerian equities heaved a sigh of relief as the losing streak on the bourse was halted on Monday, April 22, 2024 as investors recorded a profit of N70bn at the end of trading. This followed the boom in the share value of stocks like Japaul Gold, GTCO, FTN Cocoa, Universal Insurance Company ...
Transcorp Power Plc (Transcorp Power), one of the electricity generating subsidiaries of Nigeria’s leading, listed conglomerate, Transnational Corporation Plc (Transcorp Group), has demonstrated impressive financial performance in its released Q1 2024 unaudited financial statements, for the period ended March 31, 2024. The Company recorded N67.86 billion in gross earnings, compared to N21.04 billion reported in ...
Investors in the Nigerian equities market ended the week’s trading with a N173 billion loss on Friday. This followed the slump in the share value of Unity Bank, FBNH, Tantalizer, and Deap Capital Management & Trust, amongst others on the trading floor today. After five hours of trading at the capital market, the equity capitalisation ...
Bearish sentiment persisted on banking stocks at the equity market on Friday, making the value of transactions traded on the floor of the Nigerian Exchange Ltd.(NGX) down by 2.60 per cent. Analysis of the market activities indicated trade turnover settled lower relative to the previous session. Specifically, investors transacted a total of 257.86 million shares valued ...
A financial expert, Mr Eddie Osarenkhoe, has advised the Federal Government to align its fiscal policy with the Central Bank of Nigeria’s monetary policy to achieve economic stability. Osarenkhoe, the immediate past President of Finance Houses Association of Nigeria (FHAN), gave the advice while speaking with newsmen on Wednesday in Ota, Ogun. He attributed the ...
Investors in the Nigerian equities market lost N457 billion at the end of trading on Wednesday. This followed the dip in the share value of Livestock Feeds, Computer Warehouse Group, International Energy Insurance, and FTN Cocoa Processors on the trading floor today. After five hours of trading at the capital market, the equity capitalisation crashed ...
The Nigerian stock market ended with a negative market breadth, closing 1,059.91 points lower. The NGX All-Share Index declined by 1.04 percent to close at 100,717.21 basis points, compared to the previous day’s loss of 0.53 percent to close at 101,777.12 basis points. The NGX Market CAP also recorded a loss of N598.69bn Naira terms. YTD, ...
The Nigerian stock market on Monday extended its losing streak by 0.53 percent due to losses in Tier-One banking stocks. Specifically, the market capitalisation, which opened at N57.864 trillion, shed N304 billion or 0.53 percent to close at N57.560 trillion. Similarly, All-Share Index fell by 0.53 percent or 537.44 points to settle at 101,777.12, compared ...
By Matthew Denis The Securities and Exchange Commission (SEC) has disclosed that the Capital Market Committee (CMC) for the first quarter of 2024 is scheduled to be held virtually on Thursday, 18TH April 2024 to discuss challenges, brainstorm ideas and make informed decisions about the progress of the Nigerian capital market. Critical issues about the ...
The performance of Nigeria’s consumer goods companies in 2023 showed increasing divergence in performance and profitability positions as the effect of challenging macroeconomic conditions continued to impact operational costs and profitability positions of consumer goods industry players. Despite these challenges, BUA Foods Plc demonstrated remarkable resilience, mirroring its strategy, and delivering double-digit growth. The spectre ...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 percent, as the market capitalisation, which opened at N58.276 trillion, closed at N57.864 trillion. Similarly, the All-Share index shed 0.71 ...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 per cent, as the market capitalisation, which opened at N58.276 trillion, closed at N57.864 trillion. Similarly, the All-Share index shed 0.71 ...
Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange (NGX), this impressive ...
eTranzact International Plc on Monday announced a Profit After Tax (PAT) of N2.2 billion for the year ended Dec. 31, 2023, as against N1.18 billion posted in 2022. Company Secretary of eTranzact, Mr Isaiah Oreweme, said this in the company’s annual report and audited financial statements for the year 2023, sent to the Nigerian Exchange ...
Investors in the Nigerian equities market lost N220 billion at the close of trading on Monday. This followed the dip in the share value of some entities, including Abbey Mortgage Bank, Champion, Regalins and Chams on the trading floor today. After five hours of trading at the capital market, the capitalisation crashed to N58.2 trillion ...
Dangote Cement Plc has announced a final dividend of N30 per share for the period ended December 31, 2023. The dividend, which is subject to the appropriate withholding tax and approval, will be paid to shareholders of Dangote Cement Plc whose names appear in the Register of Members at the close of business on Monday, ...
