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The Nigerian stock market on Tuesday recorded 75 gainers, 10 losers, and 35 unchanged. BERGER topped the gainer’s list, while ROYALEX topped the list of losers. This is as NGX Market CAP also recorded a gain of N1.82 trillion in Naira terms. The market closed higher by 3,329.48 points, ending the day with a positive ...
....predicts lingering economic challenges in Nigeria, Kenya, Stears, a leading economic analysis and data-driven insights provider, has unveiled its much-anticipated 2024 African Outlook Report, delivering nuanced insights into the continent's economic landscape. Contrary to broad generalisations, the report sheds light on the diverse growth trajectories across Africa, with East Africa emerging as a regional powerhouse. ...
By Dakuku Peterside Nigeria, a country with a rich cultural heritage and abundant natural resources, has grappled with the complex interplay of greed, ethics, and public service throughout its history. The nexus between these elements has had profound implications for the nation’s development, governance, and the well-being of its citizens. The interplay of greed, ethics, ...
Chams Switch, a Fintech subsidiary of Chams Holdco, PLC, has been licensed by Union Pay International, the world’s largest card network to spearhead international payments for UnionPay cards issued by Nigerian banks. A statement from the Company noted that the partnership will reinforce collaboration among businesses and traders, engaged in global commerce, offering a cost-effective ...
The Nigerian Securities and Exchange Commission (SEC) has granted approval to NASD PLC to launch its Digital Securities Platform (N-DSP), powered by Blockstation, under the Regulatory Incubation (RI) Programme. This milestone, which follows the lift of ban on trading on digital assets by the Central Bank of Nigeria (CBN), signifies a major stride towards fostering ...
The Chartered Institute of Stock-brokers (CIS) has signed a Memorandum of Understanding (MoU) with the Chartered Institute for Securities & Investment (CISI) of the United Kingdom aimed at enhancing the partnership between these two prominent professional bodies, ultimately benefiting the Nigerian capital markets The Memorandum of Understanding (MoU) was signed by Oluwole Adeosun (FCS), President ...
Zenith Bank Plc stocks were the most traded stock by value with N1.98 billion units traded on Thursday as the Nigerian stock market closed positively. Closing higher by 572.66 points, the NGX All-Share Index also advanced by 0.70 percent, closing at 82,597.04 basis points, compared to the previous day’s loss of 1.40 percent, which closed ...
Investors lost N638.85 billion on Wednesday’s trading as the Nigerian stock market ended the day with a negative market breadth, closing lower by 1,167.46 points. The NGX All-Share Index now at 9.70 percent declined by 1.40 percent, closing at 82,024.38 basis points, compared to the previous day’s gain of 3.57 percent, which closed at 83,191.84 ...
The Federal Government says it is actively addressing the issue of pressure on foreign exchange in Nigeria. Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, said this on Tuesday, during the inauguration of two new factories and extension of the Tropical General Investment Group (TGI) at the Sagamu Inter-change in Ogun. Uzoka-Anite emphasised the ...
The NGX All-Share Index advanced by 3.57 percent, closing at 83,191.84 basis points on Tuesday. This is as the stock market closed higher by 2,867.31 basis points, indicating a positive market breadth. Compared to the previous day’s gain of 0.83 percent, which closed at 80,324.53 basis points, the NGX-ASI had an impressive run. As it ...
Access Holdings Plc and the First Bank of Nigeria Holdings have crossed N1 trillion market capitalisation at the close of Tuesday’s trading on the Nigerian Exchange Limited. They become the second and third lenders to achieve this feat in two days. United Bank for Africa hit the N1 trillion market cap milestone on Monday. On ...
...64% of bank customers see poor quality of service as reason to dump banks Zenith Bank Plc and Fidelity Bank Plc have taken the front-row in delivering excellent corporate banking services within the past one year. In its West Africa’s inaugural combined customer research - the 17th consecutive edition in Nigeria and the fourth in ...
By Grace Olatundun 2024 is turning out to be a spectacular year for Africa’s Global Bank, United Bank for Africa (UBA) Plc as it crossed a market capitalisation of N1 trillion on Monday. Similarly, the Bank’s stock price also appreciated hitting N29.90 per share. At the close of trading on Monday, the Bank’s market capitalisation ...
...As Tier-1 banks record gains in share price The NGX All-Share Index (ASI) has crossed the 80,000 mark, as the All-Share Index closed at 80,324.53 points on January 8, 2024. This is as the equities market also gained N363 billion as the market cap appreciated to N43.957 trillion, from last Friday’s N43.594 trillion. There was ...
By Sodiq Adelakun Nigerian financial institutions, fintech companies, a blockchain firm, and the Africa Stablecoin Consortium have announced that they will be unveiling a Naira stablecoin called cNGN on February 27, 2024. The consortium made this announcement in a statement released on Friday. The unveiling of the cNGN stablecoin will be dependent on the new ...
Investors net worth on the Nigerian Exchange Ltd. (NGX) further appreciated by N899 billion or 2.11 per cent to end trading for the week. Specifically, market capitalisation closed at N43.593 trillion as against N42.694 trillion recorded on Thursday. Also, the All-Share Index (ASI) also earned 2.11 percent or 1,644 points to settle at 79,664.66, as ...
The Nigerian Exchange Limited (NGX) finished the first week of 2024 on a positive note, buoyed by sustained investor confidence in listed companies. This momentum has instilled optimism for a potentially bullish market in 2024, bringing the All-Share index up by 6.54 percent to close at 79,664.66 points. Similarly, all other indices finished higher except ...
Investors net worth on the Nigerian Exchange Ltd. (NGX) further appreciated by N899 billion or 2.11 per cent to end trading for the week. Specifically, market capitalisation closed at N43.593 trillion as against N42.694 trillion recorded on Thursday. Also, the All-Share Index (ASI) also earned 2.11 per cent or 1,644 points to settle at 79,664.66, ...
The Nigerian Exchange Limited has said that its partnership with the National Pension Commission (PenCom) will strengthen the participation of Pension Fund Administrators (PFAs) in the equities market through the NGX Pension Broad Index. Acting CEO of Nigerian Exchange Limited, Mr. Jude Chiemeka, who stated this in a press statement said that the NGX Pension ...
For the fifth consecutive day, the NGX has achieved new milestones. Today, the market surpassed the 78,000 mark, with the All-Share Index (ASI) appreciating by 0.62 percent and reaching 78,020.54 points. At the close of trading for January 5, 2024, equities gained N263 billion, as the market capitalization appreciated by 0.62 percent to close at ...
The review of the indexes done by the Nigerian Exchange Limited has seen some banking stocks, such as FBN Holdings, Guaranty Trust Holding Company Plc, FCMB Group, and Stanbic IBTC Holdings Plc, added to the Banking Index. In a corporate announcement from the exchange during the week, the equities of Jaiz Bank, Unity Bank, Wema ...
One day after crossing the 75,000 mark, the NGX has continued its bullish run, appreciating by 2.04 percent, gaining 1,546.69 points to hit 77,537.57 points. Equities gained N847 billion, as the market capitalisation crossed to N42.430 trillion. Gains in the market were propelled by Dangote Sugar, UBA, and NASCON which all gained 10 percent. Market turnover ...
