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In 2024, the NGX achieved remarkable gains, concluding on February 2, 2024, with an All-Share Index of 104,421.23 points, reflecting a year-to-date gain of 39.65 percent. This is just 6.25 percentage points below the 45.90 percent gain recorded throughout 2023. As of January 31, 2023, the NGX’s All-Share Index closed at 101,154.46 points, indicating a ...
Transaction at the stock market on Friday showed that investors gained N899 billion. Specifically, the market capitalisation, which opened at 56.259 trillion, closed at 57.158 trillion, representing 1.57 per cent increase. Also, the All-Share Index also went up by 1,643.79 points or 1.57 per cent to settle at 104,421.23 compared with 102,802.25 posted on Thursday. ...
The equity market on Thursday rebounded by 1.63 percent from its two-day losses due to improved investors’ buy interest in the stocks of Tier-one banks and BUA Cement. Similarly, investors gained N902 billion or 1.63 percent as the market capitalisation which opened at N55.357 trillion, closed at 56,259 trillion. The Nigerian Exchange Ltd (NGX) All-Share ...
The Nigerian Exchange (NGX) All-Share Index (ASI) declined further by 1.90 percent on Wednesday. The NGX-ASI had suffered a 1.49 percent loss closing at 103,110.15 basis points the previous trading day. On Wednesday, the NGX-ASI slipped even further closing at 101,154.13 basis points, compared to the previous day’s loss. The NGX Market CAP also recorded a ...
Billionaire investor, Femi Otedola has been appointed as the Chairman of FBN Holdings Plc, a leading financial institution in Nigeria. This appointment, effective January 31, 2024, follows a recent meeting of the board where Mr. Otedola succeeds Alhaji Ahmad Abdullahi. Mr. Otedola, a renowned business mogul with significant contributions in various sectors, is expected to ...
Dangote Cement Plc continued its profitable run as the market capitalisation of the conglomerate hit N13 trillion on Monday. The cement giant achieved this feat after investors’ interest pushed the price to new high of N763, up by N68.90 or 9.93 percent as against preceding day’s N694.10. Dangote Cement has 17,040,507,405 shares outstanding, each valued ...
The First City Monument Bank (FCMB) Group has reported a 206.86 percent increase in its profit for the financial year ended December 2023 to N95.52bn. This was revealed in the unaudited annual report and financial statements filed in the corporate disclosure of the Nigerian Exchange Limited on Friday. According to the results filed, FCMB’s profit ...
Access Holdings Plc has gotten regulatory nod to acquire a majority stake in ARM Pensions. Access Golf Nigeria Limited (‘Access Golf’), a majority shareholder of Access Pensions Limited (‘Access Pensions’) which is a subsidiary of Access Holdings, has received the ‘no-objection’ of the National Pension Commission and the approval of the Federal Competition and Consumer ...
The Nigerian Exchange Group Plc (NGX) has said it is targeting onboarding more retail investors and it is reviewing listing rules to attract more investors into the Nigerian capital market. The Group Managing Director and Chief Executive Officer of the NGX, Temi Popoola stated this whilst addressing leaders of exchanges from across the globe at ...
Dangote Cement Plc has promised to increase its rewards to loyal distributors of its products. Speaking at an award ceremony held to reward distributors in Lagos, Group Executive Director, Commercial Operations, Hajia Fatima Dangote, said the distributors must have seen that they have not made a mistake in choosing to do business with the company. ...
The Nigerian Exchange Ltd. on Friday recorded N138 billion growth following continued investors’ buy interest in stocks of Tier-one banks. Specifically, the market capitalisation which opened at N55.900 trillion rose by N138 billion or 0.25 percent to close at N56.038 trillion. Also, the All-Share Index rose by 315.41 points or 0.25 percent to close at ...
Mr Jude Chiemeka, Acting Chief Executive Officer (CEO), Nigerian Exchange Ltd. (NGX), says the stock market facilitated the raising of over N3.85 trillion by government and corporate entities to finance various projects. Chiemeka stated this in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos, while providing an insight on the ...
The Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has declared that the apex bank is set to wield a rod of discipline to ensure adherence to regulations in the forex market and also tame inflation. The CBN Governor made this known in a keynote address at the launch of the Nigeria Economic Summit ...
The Nigeria exchange continued its impressive run on Wednesday as the All Share Index (ASI) crossed the 100,000 mark. The ASI advanced by 3.0 percent, closing at 101,571.11 basis points, compared to the previous day’s gain of 2.97 percent, which closed at 98,616.97 basis points. Similarly, the market cap now hit N55.8 trillion as it ...
The domestic bourse on Tuesday appreciated further, making the market turnover on the Nigerian Exchange Ltd. ( NGX) to rise by 12.97 percent. Market activities showed that 747.51 million shares valued at N16.28 billion were exchanged in 16,589 deals. As a result, the All-Share Index rose by 2,848.85 points or 2.97 percent to close at ...
The Nigerian stock market opened on Monday with an advancement in the All-Share Index advanced by 1.30 percent, closing at 95,768.12 basis points. Recall that the market had crossed the 90,000 Mark last week closing at 94,538.12 basis points. With the last gain, the NGX-ASI now stands at 28.08 percent. The NGX Market CAP also ...
Dangote Cement Plc has emerged as the first Nigerian company to hit N10trillion in market capitalisation on the Nigerian Exchange. The Cement manufacturer shares gained 9.99 percent yesterday to close with a share price of N592.60, thus reaching a market cap of N10.095 trillion. With a year-to-date return of 85.2 percent, moving from a share ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has continued to elevate its global standing, coveting several prestigious international awards, signaling the Bank’s continuous contributions to the economic development of Africa. The recognition of the bank’s outstanding performance reaffirms its status as a leading player in the financial industry with critical financial intermediation, project ...
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to sustain concessionary credit to private sector to cushion inflationary pressure. Delivering an address recently on the state of the economy for Q1, 2024, Mr Gabriel Idahosa, the President of LCCI noted that the foreign exchange market depreciated in ...
The NGX All-Share Index (ASI) on Thursday crossed the 90,000 mark following gains in large and medium capitalized companies, such as the Nigerian Breweries, Dangote Sugar, Flour Mills of Nigeria, amongst others. Now at 22.90 percent, the NGX-ASI advanced by 2.04 percent, closing at 91,896.97 basis points, compared to the previous day’s gain of 2.38 ...
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and its shareholders for the acquisition of a majority equity stake in FTB. According to a statement signed by the Company Secretary, Sunday Ekwochi, which was filed with the Nigerian Exchange Limited on Wednesday, ...
The NGX All-Share Index (ASI) advanced by 2.38 percent, closing at 90,063.25 basis points on Tuesday. Now at 20.45 percent, the NGX-ASI performed better compared to the previous day’s gain of 3.39 percent. The Nigerian stock market also closed higher by 2,092.88 points, ending the day with a positive market breadth. Similarly, the NGX Market ...
Forex turnover on Tuesday rose by 460.52 percent/ to $147.81. This is as the Nigerian naira advanced against the dollar on Tuesday, January 16th, 2024 in both the official and black markets depreciating to N878.57 The Naira depreciated 4.72 percent at the close of business, based on data from NAFEM where forex is officially traded. ...
