As part of its effort at strategic growth and enhancement of its digital capabilities, Fidelity Bank Plc has announced plans to raise capital via a combination of a public offer and a rights issue. In a statement signed by Company Secretary Ezinwa Unuigboje, released on the NGX, the tier -2 bank revealed that at the current share price of N7.3, Read More
Domestic equity market on Wednesday remained bullish, gaining N268 billion following gain recorded by some medium and large stocks. Market capitalisation of listed equities increased by 0.95 per cent to N28.367 trillion from N28.099 trillion reported the previous day. The NGX All Share Index also appreciated by 491.13 basis points to 52097.62 points from 51606.49 points reported on Tuesday. The Read More
The local equity market on Thursday sustains upward trend, appreciating by N93 billion as sell off in the shares of Transnational Corporation of Nigeria, Fidelity Bank and others boosted market activities. Market capitalisation of listed equities increased by 0.33 per cent to N27.963 trillion from N27.870 trillion reported the previous day. The NGX All Share Index also appreciated by 177.33 Read More
Domestic equity market Monday remained on negative trend, shedding N417 billion following losses recorded by MTN Nigeria and other highly capitalised stocks. This resulted in the Market capitalisation of listed equities declining by 1.48 per cent to close at N27.850 trillion from N28.267 trillion reported on Friday. The NGX All Share Index also depreciated by 766.56 basis points to 51127.38 Read More
United Capital Plc has reported gross earnings of N5.344 billion for the first quarter financial result ended March 31, 2023. The amount represents an increase of 26.87 per cent compared with N4.212 billion recorded in the corresponding period of last year. The company’s three month result submitted at the Nigerian Exchange showed that fee and commission income rose by N76 Read More
The capital market community is to commence sensitisation and stakeholder engagement on the implementation of the National Savings Strategy (NSS). To this end, an implementation committee would be established to ensure success of this initiative. This was disclosed by the Director General of the Securities and Exchange Commission Mr. Lamido Yuguda at the end of the First Quarter Capital Market Read More
The Securities and Exchange Commission, SEC, has assured investors that the interest of minority shareholders would be protected during all transactions in the capital market. The Director General, SEC, Mr. Lamido Yuguda gave the assurance in Abuja yesterday while briefing journalists on the outcome of the first quarter Capital Market Committee meeting, CMC. This follows the decision of Oando Plc Read More
The nation’s capital market received a major boost Wednesday as the Senate of the Federal Republic of Nigeria passed into law, the Investments and Securities Bill 2023. The Bill which is expected to aid the functioning of the capital market and facilitate the ongoing economic diversification in the country among others, had been passed by the House of Representatives last Read More
As the campaign to create awareness among the youths and young people and further attract them to the capital market gathers momentum, young Nigerians have been urged to ensure they invest with entities that are registered by the Securities and Exchange Commission (SEC). Director, Market Development Department of the SEC, Mr. Nestor Ikeagu stated this weekend during the celebration of Read More
Trading activities on the floor of Nigerian Exchange on Monday opened in positive note, gaining N207 billion. Market capitalisation of listed equities increased by 0.69 per cent to N30.140 trillion or 0.69 per cent to close at N30.140 trillion from N29.933 trillion reported on Friday. The NGX All Share Index also appreciated by 379.21 basis points to 55328.42 points from Read More
Plans are underway by the federal government to begin the listing of Free Trades Zones and zones’ enterprises on the Nigeria Capital Market. The managing director/CEO of NEPZA, Prof. Adesoji Adesugba, disclosed this Wednesday while speaking during a business interface meeting with the director-general of the Securities and Exchange Commission (SEC), Alhaji Lamido Yuguda, at the Commission’s headquarters in Abuja. Read More
The Securities and Exchange Commission has assured its Gambian counterpart of necessary assistance in their desire to develop more products in their bid to deepen their capital market. Executive Commissioner Operations of the SEC, Mr. Dayo Obisan, stated this when he received a Team from Central Bank of The Gambia who were on a study visit to the Commission’s Zonal Read More
Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, has announced the launch of NGN19.997 billion Series III offer under its Stanbic IBTC Infrastructure Fund NGN 100 billion Programme. The financial institution disclosed that the fund, which opens on Friday, 25 November 2022, is scheduled to close on Wednesday, 21 December 2022. It said the fund aims to bridge Read More
Investor confidence has been described as one of the key ingredients that will accelerate the growth of the nation’s capital market and increase both domestic and foreign investor participation. This was stated by the Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed during the launch of the revised Capital Market Master Plan in Lagos Thursday. Represented by the Read More
The capital market in Nigeria has been described as important to the economy of the nation as it is capable of providing government the much needed revenue for infrastructural development. This was stated by the Chairman of the Senate Committee on Capital Market, Senator Ibikunle Amosun during the budget defense by the Securities and Exchange Commission in Abuja. Senator Amosun Read More
The combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 1.58% to close at N20.74 trillion from N20.41 trillion the previous week, reflecting a gain of N316.86 billion. Stocks included in this classification are Airtel Africa, BUA Cement, Dangote Cement, Nestle and MTNN Plc. Stock Performance: Airtel Africa Plc’s share price was up by 10.00%. In figure, Read More
The federal government has said it would strengthen the Securities and Exchange Commission to reposition the Nigeria’s capital market to be at par with its peers globally. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed made the commitment in Abuja Monday, when she received the Revised Nigerian Capital Market Master Plan (2021-2025). The Plan was submitted to Read More
The Securities and Exchange Commission (SEC) has embarked on an identity management project with capital market participants to be given unique identifiers to curb issues of fraud in the market. SEC also said that the unique identifiers will reduce the high number of unclaimed dividends as well as noting that the identity management project in the capital market would ensure Read More
The Securities and Exchange Commission has stated that Issuers would henceforth be required to obtain the reference letter of “No-Objection” from their respective primary regulators and file same along with other application documents presented to the Commission. This was contained in a Circular issued by the Commission, Thursday in Abuja. The SEC states that this has become necessary in a Read More
The Securities and Exchange Commission has again restated the need for capital market operators to maintain professionalism and good ethical conduct in the discharge of their duties. The Director-General of the SEC, Mr. Lamido Yuguda who stated this during a meeting with the Chartered Institute of Stockbrokers in Abuja, Wednesday, added that it would make the market more transparent and Read More
The Securities and Exchange Commission (SEC) has reaffirmed that it is committed to making the capital market attractive to Nigerians of all ages and status. Director-General of SEC, Mr. Lamido Yuguda stated this during a meeting with a team lead by the British Deputy High Commissioner in Abuja. Yuguda said the Commission is implementing various initiatives to ensure that products Read More
The Chief Executive Officer, Nigerian Exchange Limited, Mr. Temi Popoola, has said the current Nigerian situation can be turned around with solutions from the stock market. Popoola who made this statement while addressing Capital market stakeholders at the Investment and Securities Bill (ISB) Lawmakers’ Retreat convened by the Securities and Exchange Commission (SEC) said It is well-known fact that countries Read More
In a bid to develop the Nigerian capital market and enhance the economy, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, is set to advance customer assets in 2022 with its bouquet of investment solutions. With a robust marketing campaign theme: Invest for More, Stanbic IBTC urges investors, young and old, retail and corporate, employed and self-employed, Read More
Nigeria’s economic hub, Lagos state received the giant of the total foreign capital inflow to various states in the country, accounting for 85 per cent of the total inflow with $3.84 billion in 2021. According to the capital importation report, released by the National Bureau of Statistics (NBS), only about nine states received foreign inflows, with Abuja trailing a far Read More
Operators in the nation’s capital market have called for the introduction of sachet sized technology driven products that would drive increased retail investors patronage in the capital market. They said that one way to increase retail investors in the market is to develop product specifically for the demographic targeted. The Managing Director and Chief Executive of FMDQ, Mr Bola Onadele, Read More
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