capital market

NGX’s factbook goes digital

Published

2 years ago

August 26, 2021

By Kayode Tokede

The Nigerian Exchange (NGX) Ltd. has announced that the 2021 edition of its annual Factbook (X-FactBook) would be released on Aug. 26 in digital-only version after 41 years in print.

The Chief Executive Officer, NGX, Mr Temi Popoola, said this in a statement said individuals and institutions interested in X-FactBook now have the option of either subscribing to the complete X-FactBook or just the section of interest.

He explained that while modular purchase allowed readers to access a specific sector of the economy as applicable at a cost ranging from N2,000 to N3,000; the complete e-book provided a compendium of all sectors at a cost of N5,000.

Popoola said: “At NGX, we are dedicated to developing and improving the digital experience for our stakeholders.

“The transformation of X-FactBook from print to digital aligns with our commitment to providing and enhancing access to quality market information.

“With the current climate where companies and individuals have transitioned to a more digitally-inclined mode of working and accessing information, it is fitting that we are introducing our first online Factbook at this time.

“We believe that X-FactBook will serve to complement other platforms for accessing information at NGX,” he said.

Popoola also stated that the digital X-FactBook, available for purchase at https://xfactbook.ngxgroup.com, presented a completely new way for users to conveniently access comprehensive and diverse information on the Nigerian capital market.

On his part, the Divisional Head, Trading Business, Mr Jude Chiemeka said: “In operating as a demutualised entity, we continue to prioritise the timely provision of quality market information to support the investment process.

“That is why this foremost post-demutualisation edition of X-Factbook has been made easily accessible to investors across the globe to showcase the existing and potential opportunities in the Nigerian capital market.

“We are confident that this edition of X-Factbook will be an invaluable resource to the investing community and will continue to promote investor education in our market.”

Leveraging digital technology for ease of access, X-FactBook provides investors, researchers, media and other capital market stakeholders with desired insights into the operations of the Nigerian capital market, including listed securities.

It further ensures that companies listed on NGX remain visible, providing relevant information on trading activities on NGX and the various market participants across the investment value chain and that NGX remains positioned as a preferred investment destination.

capital market

Ecobank declares N182.92bn PAT in Q3 2023

Published

2 days ago

December 1, 2023

NewsDirect

Ecobank Transnational Incorporated, has recorded a profit of N182.92 billion in its third quarter 2023 results.

According to the results posted on the Nigerian Exchange Limited (NGX) website, the Bank announced a 59 percent gross earnings growth in Q3 2023 Results.

The Gross earnings also grew by 59 percent from N761.30 billion to N1.211 trillion.

According to the results, profit before tax stood at N262.17 billion.

Meanwhile in its second quarter results Pre-tax profit increased to N92.52 billion from N56.89 billion profit in Q2 2022.

The increase in second-quarter profits helped its half-year profit before tax to rise by 38 percent to N150.31 billion compared to N108.96 billion in the same period last year.

capital market

Market capitalisation gains N44.16bn as NGX ASI advances by 0.11%

Published

2 days ago

December 1, 2023

NewsDirect

Since the recent announcement of recapitalisation by the Central Bank of Nigeria Governor, the market had continued to see a rise in investment moves amongst banks thereby boosting the market capitalisation of the NGX.

As at yesterday’s trading, the NGX Market CAP recorded a gain of N44.16billion in Naira terms while the NGX All-Share Index (ASI) advanced by 0.11 percent.

Compared to the previous day’s gain of 0.34 percent, which closed at 71,284.56 basis points, the NGXASI now stands at 39.25 percent.

The total volume of stocks traded also advanced by 49.77 percent to close at N540.09 million, valued at N10.24 billion and traded in 6,516 deals. GTCO was the most traded stock by volume and value, with N67.23 million and N2.60 billion units traded.

At the close of trading, the market recorded 25 gainers, 31 losers, and 55 unchanged. NNFM topped the gainers list, while NSLTECH topped the list of losers.

capital market

Naira hits N831.47/$1 in official market

Published

3 days ago

November 30, 2023

NewsDirect

The Nigerian naira appreciated against the dollar on Wednesday, 29th November 2023, closing at N831.47/$1 at the official market.

The positive trajectory aligns with expectations among experts, who anticipated that the Central Bank of Nigeria’s (CBN) recent initiative to clear a portion of its FX backlog would boost confidence in the currency.

The domestic currency appreciated 6.06 percent to close at N831.47 to a dollar at the close of business on Wednesday, data from the NAFEM where forex is officially traded, showed.

This represents an N50.41 gain or a 6.06 percent increase in the local currency compared to the N841.14 it closed on Tuesday.

The intraday high recorded was N1159/$1, while the intraday low was N700/$1, representing a wide spread of N459/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $140.35 million, representing a 18.88 percent growth compared to the previous day.

However, the naira weakened at the parallel forex market where forex is sold unofficially, the exchange rate depreciated by 0.26 percent, quoted at N1160/$1, while peer-to-peer traders quoted around N1159.47/$1.

The Central Bank of Nigeria (CBN) has said it has made tranche payments to 31 banks to clear the backlog of foreign exchange forward obligations.

The apex bank also disclosed that it has set up foreign exchange frameworks to address the FX issues.

Governor of the CBN, Yemi Cardoso, disclosed this on Friday at the bankers’ dinner in Lagos.