The Group Chief Executive, Oando Plc, Wale Tinubu, has said indigenous investors will play a vital role in the future of the Nigerian upstream sector. Tinubu who made the assertion in a statement informing the Nigerian Exchange Limited (NGX) of Oando Plc planned acquisition of Nigerian Agip Oil Company Limited (NAOC Ltd) from ENI, said the deal shows the importance Read More
A total of twenty social innovators from across Africa will participate in the 2023 Sahara Group Foundation Impact Fund Fellowship programme. The programme, the third cohort since it was launched in 2020 was aim to empower visionary African change makers with the knowledge and resources required to expand their social enterprises and help address environmental and social challenges affecting societies. Read More
NGX regulation Limited in collaboration with Financial Reporting Council and the International Sustainability Standards Board (ISSB) recently launched IFRS S1, IFRS S2 Standards to encourage better investment decision among investors. AMAKA IFEAKANDU writes on the benefits of the new accounting standards to the companies and capital market in general. IFRS sustainability Disclosure Standards NGX regulation Limited (Regco) and Financial Reporting Read More
Investors seeking the risk-free treasury bills made offers valued at N273.4 billion even though the amount on offer was N143.9 billion. The range of bids was between 10-19 per cent as the Central Bank of Nigeria closed at a stop rate of 14.7 per cent. The true yield for the one-year auction is as high as 17.3 per cent by Read More
The Standard Organisation of Nigeria (SON) has put in place various standardisation products to encourage local manufacturers, prospective investors and importers of goods into Nigeria and protect their investments . According to the Director General of SON, Malam Farouk Salim explained that this products includes Standards, Product & Systems Certification, Registration, Accredited Laboratory Testing, Metrology Services, & Human Capacity Building Read More
Volume of trades on the floor of Nigerian Exchange increased by 29.07 per cent on Tuesday as investors traded 154.460 million shares valued at N2.475 billion in 4187 deals This is against 123.545 million shares worth N2.483 billion exchanged hands the previous day in 4016 deals. The NGX trading result during the day showed that market capitalisation of listed equities Read More
Nigeria’s bond market is already betting that the nation’s next leader, whoever it is, will not be able to repair the shambles left by the previous administration. The investors say, the chance of much-needed reforms after February 25 appear remote and that debt service is likely going to cost more than the Federal Government revenue. The country is in the Read More
Amid allegations that Sterling Bank hoarded new Naira notes which dragged the Bank’s reputation into negative light among its customers, investors are dumping its shares in the stock market Sterling Bank suffering investor apathy has caused shareholders of the company to lose 7.36 per cent of their investment in the firm led by Abubakar Suleiman. This indicates shareholders with investment Read More
Minority shareholders of Union Bank of Nigeria (UBN) have expressed satisfaction with the announcement of a N7 per share premium Mandatory Takeover Offer (MTO) by Titan Trust Bank Limited (TTB), the new owners of UBN. The shareholders also commended Titan Trust Bank’s transparency and trust in offering the same MTO to both the minority and majority holders of Union Bank, Read More
Youth and Sports Minister Sunday Dare has extolled President Muhammadu Buhari as well as those who have keyed into his Ministry’s Adopt Initiatives. Four state governors, a deputy governor, some philanthropists and corporate bodies have supported these programmes since inception. Speaking at Thursday’s Presidential Reception for the Team Nigeria contingents to the 2022 World Athletics Championships and Commonwealth Games, the Read More
Activities on the floor of Nigerian Exchange remained low as investors exchanged N1.487 billion on 160.243 million shares in 3847 deals. This is against 86.594 million shares worth N1.170 billion exchanged hands the previous day in 3377 deals. The NGX trading result showed that market capitalisation of listed equities increased marginally by N1 billion or 0.003 per cent to N26.768 Read More
The federal government Monday conducted its regular primary auction of new bond issuances to raise additional N225 billion from the domestic capital market. The result of auction was however not known as at press time. Investment firms at the weekend doubled up efforts at pre-auction marketing of the new issuances with tallies surveyed across many firms indicating that the new Read More
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 0.77% to close at N2.28 trillion as at 15th of July, 2022, as investors in these banks gained a total of N17.44 billion during the trading week. After 3 trading days of the week, 3 of the 5 tier-1 Nigerian banks enjoyed Read More
As the Nigerian economy rises 3.11 per cent in full year ended first quarter of 2022, the hike in interest rate will likely excite investors the more in a tamed inflation era, Bismarck Rewane, Chief Operating Officer (COO) of the Financial Derivatives Company (FDC) Limited has opined. His argument is that, with the Central Bank of Nigeria (CBN) hiking the Read More
Global money market funds obtained massive inflows in the week to April 27 as investors rushed to safer assets on concerns over economic slowdown, surging inflation and the war in Ukraine. According to Refinitiv Lipper, money market funds garnered a net $51.4 billion in their biggest weekly purchase since Oct. 27. The MSCI world equity index dropped to a 13-month Read More
Meta’s (formerly Facebook) Lead Product Manager, Dare Obasanjo, has blamed institutional investors for the overvaluation of cryptocurrency, bitcoin, stating that there was no bigger fool in the crypto market. A bigger fool or greater fool is someone that pays a higher price to purchase an overvalued asset acquired by an investor, who hopes to resell and profit highly from the Read More
The Chairman of Property World African Network (PWAN Group), Dr Augustine Onwumere, has advised property investors to ensure they procure requisite title documents. Onwumere, who gave the advice at the unveiling of PWAN Land Acquisition & Title Procurement Ltd., by PWAN MAX Property and Business Solutions, a member of the PWAN Group, in Lagos, recently, said the possession of title Read More
Sterling Bank Plc investors got a bad return on investment as the shares of the bank dipped drastically in the 2021 financial year, denting investors’ investment in the bank by 28.10 percent. Findings show that the lender’s share traded N2.10 on January 4, 2021, and was sold at N1.51 at the close of business on December 31, 2021, shedding 28.10 Read More
As investors of FBN Holding Plc eagerly await the third quarter audited financial result for the period ended September 30, experts in the banking sector have predicted that the banking group will deliver strong earnings going by its previous financial results. FBNHoldings recently notified the exchange and investing public of the delay in filing its financial results for the period Read More
About 7o domestic and foreign investors have indicated their interest to invest in Jigawa state, a director general in the state, Hajiya Furera Jumare, said over the weekend. She stated while responding to questions from newsmen in Dutse that, already, 16 investors were on ground and they had established their investments which had started yielding positive results. Hajiya Jumare said Read More
The newly elected Enugu State Chairman of the All Progressive Congress (APC), Comrade Adolphus Udeh has mocked the Peoples Democratic Party (PDP) over its pledge to rescue Nigeria. According to Udeh, before rescuing Nigeria, PDP should first account for the uncountable underdevelopment obstacles the party embedded in the system, prior to their exit from power in 2015. In a press Read More
A chieftain of the ruling All Progressives Congress (APC) and real estate mogul, Moses Ayom has described the relationship between Nigeria’s President Muhammadu Buhari and China’s counterpart Xi Jinping as the standard for bilateral cooperation in the world. Ayom, who is aspiring to succeed President Buhari in 2023, said in a goodwill message to both countries marking 50 years of Read More
SRtv, a digital multicast, multicultural arts, entertaining and life style online streaming television is set for the second edition of its talent Expo program scheduled to take place between 1st and 5th of December at the velodrome facility, MKO Abiola National Stadium, Abuja Nigeria. According to Emerald Obahiagbon, the program representative, “this year’s event is aimed at talent discovery in Read More
Last week, the bulls ran the bears underground, with interest in First Bank of Nigeria Holding (FBNH) pushing market capitalisation up by additional N329 billion to berth at N21.6 trillion. Trading activity was strengthened as average volume and value traded rose 66.3 per cent and 119.9 per cent week-on-week ( w/w) respectively. Leading the most traded stocks by volume were Read More
As stakeholders in the agricultural sector continue day two activities of 2021 World Food Day, entrepreneurs and investors in Nigeria has been urged to invest in livestock, horticulture, fisheries and others to take Nigeria into self-sufficiency, food security, rich nutrition, and wealth creation along various value chains. The Minister of Agriculture and Rural Development, Dr Mohammed Abubakar, stated this on Read More
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