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Zenith Bank Plc. on Thursday expressed optimism that it would submit its 2023 full-year audited financial statement to the Nigerian Exchange Ltd. (NGX) on or before April 30. The Company Secretary, Zenith Bank Plc., Mr Michael Otu, stated this in a notification sent to the NGX in Lagos. Companies listed on NGX are required to ...
The equities market gained N157.43 billion on Thursday as the market continued its bullish run. The gains brings the market capitalisation to a new total of N59.12 trillion, up from N58.96 trillion. Similarly, the NGX All-Share Index (ASI) surged by 278.42 points to reach 104,562.06 points, marking a growth of 0.27 percent from its previous ...
The NGX All-Share Index advanced by 0.32 percent to close at 104,283.64 basis points on Wednesday. This is compared to the previous day’s loss of 0.18 percent to close at 103,952.47 basis points. The Nigerian stock market ended positively, gaining 331.17 points, with investors earning N187.24bn as the NGX Market CAP gained. The total volume traded ...
The Lagos Commodities and Futures Exchange (LCFE) has explained how the Federal Government can utilise the commodities exchange ecosystem as a strategy to boost food security, create job opportunities and enhance Nigeria’s capacity to earn foreign exchange. In a media interactive session with commodities correspondents in Lagos yesterday, LCFE’s Managing Director and Chief Executive Officer, ...
Access Corporation, a holding company has posted over 300 percent increase in its profit margin for 2023. This was disclosed by the Bank via a corporate disclosure filed on the NGX website and seen by Nigerian NewsDirect. Access Holdings reported a remarkable 306 percent growth in profit after tax to N619.32 billion, up from N152.20 ...
By Sodiq Adelakun A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu has challenged the notion that the naira will stabilise at N400 to the dollar, labelling it as unrealistic. Moghalu conveyed this perspective through a series of posts on his X (formerly Twitter) account on Sunday. He wrote, “Those who want ...
The financial services industry, measured by volume, led the activity chart of the Nigerian Exchange Ltd.(NGX) with 1.273 billion shares valued at N31.08 billion traded in 23,066 deals to close the week. Specifically, the industry contributed 73.36 percent and 63.74 percent to the total equity turnover volume and value of the market respectively. Trading in ...
The market capitalisation of the Nigerian Exchange Ltd. (NGX), on Wednesday, further declined by N168 billion or 0.28 percent, following profit taking by investors. Specifically, the market capitalisation of listed equities depreciated to N58.947 trillion, from N59.115 trillion, which it opened for the day. Similarly, the All-Share Index, which measures the performance of listed equities, ...
The plan by the British majority owner of consumer goods company PZ Cussons Nigeria to fully acquire the organisation and take it private has suffered another setback as the Securities and Exchange Commission (SEC) a key regulator has withheld the required assent to take the transaction further. In an update filed at the Nigerian Exchange ...
The stock market on Tuesday declined further by 11 percent, due to sell-offs in stocks of MTN Nigeria, Transnational Power (TransPower), Guaranty Trust Holding Company (GTCO), among others. Other stocks that contributed to the market’s negative performance are: Unilever, Axa Mansard, Cornerstone Insurance, Royal Exchange Assurance, Nigeria Breweries, Fidelity Bank, Julius Berger, among others. Specifically, ...
Notore Chemical Industries has announced the appointment of Femi Agbaje as the new chairman of its board of directors. The appointment comes more than three years after former Nigerian Head of State, Yakubu Gowon, retired from the company’s board on January 28, 2021. According to a statement filed with the Nigerian Exchange Limited, the Group ...
The Nigerian Exchange Ltd.(NGX) market capitalisation on Monday closed on a negative note, losing N239 billion. Specifically, the market capitalisation which opened at N59.416 trillion, lost 0.40 percent or N239 billion to close at N59.177 trillion. Similarly, the All-Share Index also declined by 0.40 percent or 422 points to close at 104,663.34, as against 105.085.25 ...
The Nigerian Exchange Ltd.(NGX) extended gains on Friday, causing investors’ wealth to grow further by N582 billion due to buy interest on the nation’s bourse. Specifically, investors gained N582 billion in value as market capitalisation grew to N59.416 trillion from N58.834 trillion recorded on Thursday. Consequently, the All-Share index rose by 0.99 percent or 1,029.04 ...
The global cement business will remain modest amid geopolitical tensions and economic fragmentation. Outlooks put the market’s growth at between 2 and 3 percent in 2024. The Middle East, India, and Africa would drive the growth in the year. Growth in China and Europe is expected to drop by an average of 5 percent as ...
Transcorp, GTCO lift equity market up by 0.47% Transcorp Corporation (Transcorp) and Guaranty Trust Holding Company(GTCO) on Wednesday drove the Nigerian equity market higher by 0.47 percent as the largest stocks in volume and value. Specifically, Transcorp led the volume chart with 38.95 million shares traded, despite a decline of 2.94 percent in its share ...
Market capitalisation on the Nigerian Exchange Ltd (NGX) gained N836 billion or 1.45 percent to close at N58.533 trillion on Tuesday. The stock market opened at N57.697 trillion capitalisation on Tuesday. In the same vein, the All-Share Index also witnessed growth rising by 1.45 percent or 1,480 points to close at 103,524.44, as against 102,044.84 ...
Leading food seasoning manufacturer, NASCON Allied Industries has gained more market share even as its profit after tax (PAT) rose by 151 percent to N13. 73 billion for the financial year ended December 31, 2023. A review of the company’s 2023 annual results and accounts indicated that profit after tax rose by N8.26 billion over ...
Transcorp Power Plc, a prominent power firm recently listed on the Nigerian Exchange Group Plc (NGX), reported a significant gain of approximately N835 billion by the close of weekly trading, positioning it as the top gainer for the week. This development underscores the demand for the shares of the new power company, which concluded trading ...
Investors in the Nigerian equities market went home with N562 billion at the close of trading on Friday. This followed the rise in the market capitalisation to N57.2 trillion from N56.7 trillion after five hours of trading today. Similarly, the All-Share Index (ASI) increased to 101,330.85 from 100,335.30 recorded by the bourse on Thursday. The ...
The Securities and Exchange Commission (SEC) says it is intensifying efforts to reduce the level of unclaimed dividends in the nation’s capital market. A statement by the commission in Abuja on Thursday, said the effort which included investors’ interactions in various geo-political zones, would make the market more attractive to new investors. SEC said the ...
The Nigerian Exchange Regulation Ltd. (NGX RegCo) has appointed Mr Olufemi Shobanjo its Chief Executive Officer (CEO). The appointment took effect from Feb. 28. NGX RegCo, a subsidiary of the Nigerian Exchange Group (NGX Group), announced the appointment in notification it sent to the Nigerian Exchange Ltd. on Thursday. The Acting Group Company Secretary of ...
The Nigerian foreign exchange market experienced a sharp decline in activity at the start of 2024, with Spot FX market turnover plummeting by 40.46 percent to $4.37 billion (N4.03 trillion) in January, down from $7.34 billion in December 2023. This substantial month-on-month decrease of $2.97 billion was highlighted in the latest FMDQ Markets Monthly Report.Amidst ...
Investors in the Nigerian equities market ended the week with a N672 billion loss as the market tumbled again on Friday. This followed the dip in the market capitalisation to N54.03 trillion from N54.70 trillion posted by the bourse on Thursday. Similarly, the All-Share Index (ASI) decreased to 98,751.98 from 99,980.30 recorded the previous day. ...
