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The Securities and Exchange Commission has approved the Nigerian Exchange Group’s Invest, a digital platform designed to streamline public offerings and rights issues in the capital market and facilitate Nigeria’s $1 trillion economy drive. NGX disclosed this in a recent statement, noting that the platform would provide an efficient, convenient, and seamless experience for managing ...
In a strategic move to enable its staff and students to join the league of global finance professionals with an array of opportunities, Anchor University, based in Lagos State, Nigeria, has signed a Memorandum of Understanding (MoU), with the Chartered Institute for Securities and Investment (CISI). By the MoU, Anchor University and CISI, shall partner ...
By Esther Agbo Seplat Energy Plc saw a significant decline on the Nigerian Exchange (NGX) today, with its share price dropping by 8.30percent to close at N3,480. This resulted in a market capitalization decrease of N185.16 billion. Seplat’s downturn was the primary factor driving the NGX’s overall decline of 0.33percent, leading to an All-Share Index ...
By Esther Agbo The Nigerian Exchange Limited (NGX) has announced the technical suspension of trading in the shares of eight companies due to non-compliance with post-listing requirements. According to the Exchange, trading in these companies’ shares was suspended because they failed to submit their audited financial statements for the year ending December 31, 2023, within ...
By Esther Agbo The Nigerian Exchange continued to experience bearish trading on Tuesday, leading to a significant N114 billion reduction in investor wealth. The market capitalisation fell by 0.20 percent, closing at N56.46 trillion, while the All-Share Index ended at 99,805.95 points. On Monday, the market had already seen a loss of N8.62 billion, driven ...
Access Holdings Plc on Tuesday encouraged its shareholders to participate in the group’s rights issue offer, aiming to strengthen its bond with them. Chairman of Access Holdings, Mr Aigboje Aig-Imoukhuede, stated this at the group’s “Facts Behind The Rights Issue” presentation to the capital market community at the Nigerian Exchange Ltd. (NGX) in Lagos. Recall ...
The Federal Government has inaugurated the new Board Members of the Securities and Exchange Commission (SEC) with a charge to explore innovative mechanisms and improve on digital currency transactions in regulating Financial market aimed at attracting investors both within and outside the country The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr ...
The chief marketing officer of Flincap, Oladotun Akangbe, has opined that blockchain is a groundbreaking technology set to revolutionise the real estate industry in Nigeria. More Nigerians are leveraging the technology to improve asset security, efficiency, and transparency of their assets. Still, they have not seen reasons to use it for physical assets like land. ...
Access Holdings Plc (‘the Group’), one of Africa’s leading financial services groups, has announced the commencement of its N351 billion Rights Issue (‘the Offer’). A subset of the Group’s Capital Raising Programme aiming to generate up to US$1.5 billion (One Billion, Five Hundred Million United States Dollars), the Rights Issue is designed to strengthen the ...
The naira ended a three-day depreciation trend at the parallel section of the foreign exchange (FX) market on Friday. The local currency appreciated by 0.98 percent to N1,525 on July 5 from the N1,535 per dollar traded on July 4. Currency traders, known as bureau de change (BDC) operators, quoted the buying rate of the ...
Nigeria is set to tap into its cryptocurrency market, which is valued at $56.7 billion, by implementing a 7.5 percent value-added tax (VAT) on crypto transactions. Starting on July 8, 2024, KuCoin, a crypto platform, will begin charging the 7.5 percent VAT on transaction fees. This is aimed to align with the Federal Inland Revenue ...
...As investors lose N20.75bn as equities market crumble in one week The Nigerian equities market closed the week on a negative note as investors lost N23 billion at the close of trading on Friday. This followed the dip in the share prices of stocks like Updcredit, Julius Berger, and Ikeja Hotel, amongst others on the ...
The Securities and Exchange Commission (SEC) has granted Access Holdings Plc approval for the commencement of its N351 billion Rights Issue (‘the Offer’). This marks a significant milestone in the Group’s previously announced Capital Raising Programme, which aims to generate up to US$1.5 billion (One billion, five hundred million United States Dollars). The Rights Issue ...
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has advocated stronger collaboration with the Economic and Financial Crimes Commission (EFCC) to ensure recovery of unremitted revenues to the appropriate government coffers. The Chairman of RMAFC, Mr Muhammad Shehu, made the call when he paid a courtesy visit to the Chairman of EFCC, Mr Ola Olukoyede, ...
Investors on Tuesday recouped losess from Monday’s trading gaining N25.72bn. The market gain was fueled by strategic buying interests in NAHCO (+3.74%), FIDSON (+9.26%), ZENITHBANK (+2.59%), UBA (+2.25%), GTCO (+1.88%), NB (+0.34%), UCAP (+0.18%), and 16 others. Consequently, investors gained N25.72bn, bringing the Market Capitalisation to N56.61trn, with a year-to-date return of 33.83%. Meanwhile, the ...
Conoil Plc has declared A profit after tax of N9.87 billion in 2023 financial year, about 99 percent growth from N4.96 billion declared in 2022. According to the company’s audited financial statement for 2023, the company posted a revenue of N201.4 billion, marking a 53per cent growth from the N131.4 billion revenue posted in 2022. ...
The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO) has opened the sale of its Savings Bond to retail investors with a lower return than last four months auctions. The offer which opened Monday July 1, closes on July 5 and the settlement date is July 10, 2024. The government sells a ...
The Nigerian equities market sustained its positive run with investors making N374 billion in profit at the close of trading on Friday. This followed the growth in share prices of UCAP, LASACO, and CWG, amongst others on the trading floor today. After five hours of trading at the capital market, the equity capitalization rose to ...
Shareholders of MRS Nigeria Limited have approved the voluntary delisting of the company’s shares from the Nigerian Exchange Limited (NGX). Following the delisting, the company whose market capitalisation currently stands at N46.3 billion withdrew its shares from the equities market. MRS Oil disclosed this in a notice to the NGX and the investment community recently ...
IAs evidence of resilience and continuous innovation despite the headwinds in the Nigerian economy, the total comprehensive income of Industrial & Medical Gases (IMG) Nigeria PLC., has jumped by 295 percent, from N215.967 million in 2019 to N852. 753 million in 2023. In the review period, the revenue of the frontline manufacturer of industrial and ...
The Naira appreciated against the dollar at the foreign exchange market on Friday to end the week on a positive note after nine days of depreciation. FMDQ data showed that the Naira gained at N1505.30 against the dollar on Friday from N1510.10 traded on Thursday. This represents an N4.8 gain against the dollar compared to ...
By Esther Agbo Consolidated Hallmark Holdings (CHH) Plc held its inaugural Annual General Meeting (AGM) today, marking a significant milestone in the company’s history. CHH Chairman, Shuaibu Idris, In his address, highlighted the company’s impressive financial performance in the face of economic challenges. He reported a 32 percent increase in insurance revenue, which rose from ...
Investors in the Nigerian equities market lost N250 billion at the close of trading on Tuesday. This followed the dip in the share value of Oando, UPL, Academy, and others on the trading floor today. After five hours of trading at the capital market, the equity capitalisation crashed to N56.1 trillion from N56.3 trillion posted ...
