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By Seun Ibiyemi The Securities and Exchange Commission (SEC) has announced plans to enhance the rules and regulations surrounding borrowing for both government and businesses. In a statement from the SEC, the Director-General of the SEC, Dr. Emomotimi Agama noted the importance of ensuring that borrowing practices are sustainable for various levels of government, including ...
eTranzact International Plc, Nigeria’s payment and switching company, has estimated about N365 million in profit after tax for the first quarter of the financial year 2025. This is according to the firm’s earnings forecast submitted on the Nigerian Exchange Group, where it expects revenue to reach N2.2 billion in the first three months of operations ...
The Nigerian equities market recorded its first loss in 2025 as investors shed N152 billion at the close of trading on Tuesday. This followed the dip in the share prices of stocks like VERITASKAP, FTN COCOA, and RT BRISCOE amongst others on the trading floor. After five hours of trading at the capital market, the ...
By Seun Ibiyemi Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of ...
The NGX All-Share Index (ASI) is projected to grow by 40.4 percent in 2025, according to research analysts in Cardinalstone. This was contained in Cardinalstone’s 2025 Economic Outlook entitled ‘Pressure to Plateau.’ Afrinvest West Africa, in its FY 2025 Outlook Report, however, projected a 24.3 percent return for the Nigerian Exchange (NGX) under its base ...
John Holt Plc has published its report for the financial year ending September 30, 2024, revealing a pre-tax profit of N2.5 billion. This figure indicates a significant improvement from the pre-tax loss of N1 billion reported in the same period in 2023. The company experienced a revenue increase of 71.92%, reaching N3.1 billion from N1.8 ...
The Nigerian equities market sustained the bullish run in the New Year as investors gained N274 billion at the close of trading on Friday. This followed a surge in the share prices of stocks like NCR, LEARN AFRICA, and ABBEYBDS amongst others on the trading floor. After five hours of trading at the capital market, ...
Investors in the Nigerian equities market enjoyed a bullish trading session in the last few days of 2024 and the early days of 2025 raking in a profit of N1.253 trillion on the trading floor of the Nigerian Xchange (NGX). This follows a gain of N609 billion the previous week. The bourse recorded gains in ...
Nigeria’s equities market opened year 2025 on a positive note, rising by 0.25 percent on Thursday, the first trading day of the year. The overall market capitalisation and NGX All Share Index (ASI) which closed the year 2024 at N62.763 trillion and 102,926.4 points respectively rose to N62.918 trillion. In 11,752 deals, investors exchanged 829,754,438 ...
Jaiz Bank Plc has projected gross earnings of N26.3bn for the first quarter of 2025, covering January to March 2025. In its earnings forecast filed with the Nigerian Exchange Limited on Monday, the bank revealed that financing and investment income is expected to reach N24.2bn, with profit paid to investment account holders amounting to N6.4bn. ...
Ardova Plc has entered into a bulk purchase agreement with Dangote Refinery. The agreement will see Ardova offtake a full slate of petroleum products from the refinery, in a new framework that consolidated Ardova’s relationship with the refinery. Ardova had been a significant offtaker from the refinery since its inception. According to the companies, the ...
Nigerian Exchange Limited (NGX) All Share Index closed 2024 with an impressive annual growth of 37.65 percent. The positive has marked a remarkable turnaround, breaking away from the poor performance of the 2015–2019 period to thrive in the 2020s. Following the oil price crash in 2015 and the ensuing recession in 2016, the 2020s have ...
The Chairman of Access Holding Company Plc, Mr. Aigboje Aig-Imuokhuede, CFR, has praised the Nigerian Exchange Group (NGX) for its digital innovation following the successful completion of a N351 billion Rights Issue, which was undertaken to comply with a regulatory directive from the Central Bank of Nigeria. In a statement from Access HoldCo, Mr. Aig-Imuokhuede ...
FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services organisation, is pleased to announce the successful completion of its public offer, following approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The offer was oversubscribed by 33%, attracting 42,800 investors, with 92% subscribing via convenient digital ...
Lafarge Africa Plc has released its audited financial report for the nine-month period ending 30 September 2024, showcasing significant growth with a pre-tax profit of N91.5 billion. This represents an increase of 49.69% from the N61.1 billion recorded during the same period in 2023. The company’s post-tax profit grew by 45.78%, reaching N57.2 billion, while ...
Investors on the Nigerian Exchange Group (NGX) gained N503 billion in the final trading session before Christmas on Tuesday. This increase follows a surge in the share prices of stocks such as MRS, Ikeja Hotel, and Multiverse, among others. By the close of the five-hour trading session, the equity capitalization had risen to N61.9 trillion ...
The Nigerian equities market has had a strong performance, with investors gaining a substantial N1.061 trillion on the Nigerian Exchange (NGX) during the just-concluded trading week. This follows a gain of N707.61 billion in the previous week. The bourse recorded gains in four out of the five trading sessions this week, ultimately closing with a ...
The Securities and Exchange Commission (SEC) has issued a new directive requiring all publicly listed companies in Nigeria to publish their financial statements on their official websites by January 2025. The directive was announced in a circular released by the Commission on Thursday, emphasising its importance for boosting investor confidence and ensuring regulatory compliance. The ...
Nigeria’s equities market continued its positive momentum on Thursday, with a 0.77 percent increase as investors raced to capture value ahead of the year-end. The market saw a significant gain of N467 billion, driven by major stocks such as UACN, Aradel Holdings, Honeywell Flour Mills, NAHCO, and MRS. Stocks like Universal Insurance, AIICO, UBA, GTCO, ...
The Chief Executive Officer of the Nigerian Exchange Limited (NGX), Mr. Jude Chiemeka, has highlighted the tokenisation of Nigerian assets as a key strategy to attract Gen Z and Millennial investors to the Nigerian stock market. Speaking at the 2024 Investor Summit & Awards Dinner organised by Emerging Africa on December 18, 2024, Mr. Chiemeka ...
Nigeria’s equities market continued its positive momentum on Wednesday, rising by 0.43%, or N259 billion, as investors remain focused on undervalued stocks across key sectors. The market has surged by 3.05% this month, with a weekly gain of 1.11%. The year-to-date return now stands at 34.38%. Stocks such as MRS, Learn Africa, International Energy Insurance, ...
The traditional Santa-Claus rally on the Nigeria Exchange Limited (NGX) continued on Monday as the market rose by 0.55 percent at the close of trading. This positive outcome follows last week’s 1.19 percent increase, as investors position themselves ahead of the year-end. So far this month, the market has gained 2.48 percent, with the year-to-date ...
Nigerian Breweries has announced the appointment of Mrs. Juliet Anammah as the substantive Chair of its Board of Directors, effective January 1, 2025, making her the first woman to hold this position. The decision, made at the Board of Directors meeting on December 12, 2024, will see Mrs. Juliet Anammah succeed Mr. Sijbe “Siep” Hiemstra, ...
