First Bank fuels investors’ wealth with additional N329bn in one week

October 17, 2021 Blessing Anaro 0

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

2021 WFD: Invest in livestock, horticulture, fisheries minister urges entrepreneurs

October 14, 2021 John Oba 0

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

Equity market opens on a note, sheds N80bn

October 12, 2021 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange yesterday closed on a negative note, shedding N80 billion. Specifically, market capitalization of listed equities declined by 0.38 per cent to N21.215 trillion from N21.295 trillion reported the previous day. The NGX All Share Index also depreciated by 154.36 basis points to 40714.00 from 40868.36 point Reported the previous day. Investors traded Read More

Ministry pledges support to Kaduna on mineral resources development

September 27, 2021 Ayoni M. Agbabiaka 0

Ministry of Mines and Steel Development has pledged its support to the development of mineral resources in Kaduna state. Minister of State Mines and Steel Development Dr Uchechukwu Sampson Ogah said this during his address at the 2021 Kaduna State Economic and Investment Summit, Kadinvest, with the theme “Towards Sustainable. Knowledge-Based Economy,” on Friday. He stated that the Ministry has Read More

Capital market experts caution investors against Ponzi scheme operators

September 22, 2021 Segun Odunewu 0

Capital market experts have advised Nigerians against investing in Ponzi schemes to avoid losing their hard earned money to fake capital and financial market operators in the country. One of the experts, Akin Adeniyi, who is the President of the Association of Corporate and Individual Investment Advisers (CIIA), while speaking a webinar that reviewed the theme “Ponzi: Plugging the Ills Read More

Bargain hunting drives gains, capitalisation up by N11.1bn

September 20, 2021 Blessing Anaro 0

Last week, the bulls took the market by the horn as investors hunted for bargains. Accordingly, the All-Share Index (ASI) rose 10 basis points (bps) week-on-week (w/w) to 38,943.87 points. Meanwhile, Year to Date (YTD) loss remained unchanged at -3.3 per cent and market capitalisation rose N11.1bn w/w to N20.3 trillion. However, trading activity slowed as average volume and value Read More

FMDQ Group, FSD sign MoU with Lagos to facilitate maiden Green Bond Issuance

September 16, 2021 Amaka Ifeakandu 0

Nigerian Green Bond market development Programme, financial Sector Deepening (FSD) Africa has signed a memorandum of understanding (MoU) to facilitate the issuance of the maiden N25 billion Lagos State Green Bond and other sustainability-linked debt securities towards achieving the global Sustainable Development Goals (“SDGs”). Speaking at the signing ceremony, the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, said, “I Read More

Importers, manufacturers, others lament as Naira approaches N600/$

September 16, 2021 Segun Odunewu 0

Importers of goods and services and other businessmen who depend on foreign exchange for their transactions have warned that prices of goods and services may hit the roof as the fortune of Naira worsens against the U.S Dollar and other international currencies. The exchange rate at the parallel market depreciated again to another all-time low on Wednesday Morning at N557/$1 Read More

Investors realise over N700bn from dividends

September 14, 2021 Amaka Ifeakandu 0

Investors in the nation’s capital market have earned over N700 billion from dividend payout by companies listed on Nigerian Exchange (NGX) Limited. Available report showed that 58 companies across 10 sectors of quoted companies on The Exchange have paid out N732,915,168,509.29. The broke down of the dividend payout showed that financial services has 21 companies, consumer goods followed with seven, Read More

MPC, inflation figures to determine stock market direction — Experts

September 13, 2021 Segun Odunewu 0

Stock market operators have predicted that mixed performance will be sustained on the nation’s bourse this week ahead of the September Monetary Policy Committee (MPC) meeting and August inflation report. They said this in Lagos on Monday, while speaking on stock market expectations in the new week. The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said that the MPC Read More

Volume of activities at NSE up by 68.73%

September 8, 2021 Amaka Ifeakandu 0

Volume of transactions on the floor of Nigerian Exchange yesterday increased by 68.73 even as the two market indicators closed in negative trend. The NGX treading result showed that volume of activities up by 144.981 million as investors traded 355.935 million shares valued at N2.871 billion in 4241 deals against 210.954 million shares cost N1.383 billion in 3989 deals..Market Capitalisation Read More

NGX lists FGN Savings Bonds issued in August 2021

August 19, 2021 Amaka Ifeakandu 0

Nigerian Exchange Limited (NGX) said it has listed August 2021 issue of the Federal Government of Nigeria (FGN) Savings Bonds on its platform. The FGN Savings Bond is an investment instrument targeted at retail investors with a minimum subscription of N5,000. It encourages savings and allows investors to earn more income compared to traditional savings accounts, with interest paid every Read More

Stock market gains N65bn

August 19, 2021 Amaka Ifeakandu 0

Trading activities on the floor of Nigerian Exchange (NGX) closed in positive trend on a high traded volume, gaining N65 billion. Specifically, Market Capitalisation of listed equities increased by 0.32 per cent to N20.668 trillion from N20.603 trillion reported the previous day. The NGX All Share Index also appreciated by 124.62 basis points to 39670.29 points from 39545.67 points reported Read More

PIB: Buhari has shown courage to do the right thing – APC

August 17, 2021 Bode Olagoke 0

The All Progressives Congress (APC) congratulated President Muhammadu Buhari for signing the Petroleum Industry Bill (PIB) 2021 into law as passed by the National Assembly, saying such has ended the long jinx of the PIB delayed since early 2000s.  The governing party, however said Nigeria’s oil and gas industry which used to loose as much as $15 billion in investments Read More

SEC adopts new measures to tackle multiple subscriptions as unclaimed dividend rises to N170 bn

August 15, 2021 Amaka Ifeakandu 0

The Securities and Exchange Commission (SEC) has adopted new measures to tackle the lingering problem of multiple subscriptions in the nation’s capital market. Director General of SEC, Lamido Yuguda who disclosed this while addressjng Journalists at a virtual press briefing after Capital Market Ckmmittee Meeting said that the Commission has already constituted a committee on identity management to harmonize various Read More

Ogun seals 26 buildings, 5 others get contravention notice

August 15, 2021 Hakeem Adegbenro 0

The Ogun state government has served contravention notice to five commercial buildings at Mowe-Ofada in Obafemi-Owode Local Government Area of the State, while it sealed 26 other buildings including gas outlets, petrol filling station, as well as commercial buildings for non-compliance with Physical Planning law of the State. Commissioner for Physical Planning and Urban Development, Tpl. Tunji Odunlami disclosed this Read More

Equity market sustains bullish run, gains N21bn

August 12, 2021 Amaka Ifeakandu 0

Equity prices on the floor of Nigerian Exchange (NGX) close higher for a third successive trading sessions, gaining N21 billion. The result showed that Market capitalisation of listed equities increased by 0.10 per cent to N20.574 trillion from N20.553 trillion reported the previous day. The NGX All Share Index also appreciated by 41.60 basis points to 39490.06 points from 39448.46 Read More

Equity market sustains growth trend, gains N142bn

August 12, 2021 Amaka Ifeakandu 0

The nation’s equity market yesterday continued its rebound, gaining N142 billion ahead of the release of the macroeconomic data such as consumer price and index and second quarter Gross Domestic Products (GDP). There are also expectations that corporate earnings of interim paying banks like Zenith Bank , Access Bank, United Bank for Africa , GTCO and Stnbic IBTC Bank may Read More

Shell confirms exit plan, shops for local investors

August 9, 2021 Blessing Anaro 0

Royal Dutch Shell has engaged Standard Chartered to shop for local investors to buy some of its onshore assets as the oil major blames insecurity, poor government engagement and the recently passed Petroleum Industry Bill (PIB) for pushing them out of Nigeria. According to Shell the Nigeria’s Niger Delta businesses are for now not core to its on- going business Read More

Debt per population: Lagos leads as Nigeria’s debt profile increases

July 19, 2021 Segun Odunewu 0

Based on the analysis of data obtained from the Debt Management Office of Nigeria, Lagos state, Nigeria’s economic hub leads other states in the country in debt per population as Nigeria’s total debt profile increased further in the first quarter of 2021 to N33.11 trillion. The 36 states of the federation plus the federal capital territory has a cumulative domestic Read More

Stock market loses N338mn

July 14, 2021 Amaka Ifeakandu 0

Equity price declined marginally yesterday as market correction and profit taking continued in the second trading day of the week. the Market Capitalisation of listed equities went down slightly by N338 million or 0.002 per cent to N19.724173 trillion from N19.724511 trilion reported on Monday. The Nigerian Exchange NGX All Share Index also dipped by 0.65 basis points to 37857.24 Read More

Naira faces another obstacle as travel agencies devalue exchange rate

July 14, 2021 Segun Odunewu 0

There is indication that the naira may be devalued again from the current N420.86 to N460, effectively an 8.5 percent devaluation following a memo to travel agencies to adjust their exchange rates effectively from Tuesday, July 13th. Recall that the Central Bank of Nigeria in May, 2021 adopted the Nafex rate as the government’s official exchange rate for the naira, Read More

Equity market gains N44bn on half year earnings

July 7, 2021 Amaka ifeakandu 0

Bullish sentiment continued yesterday on the floor of Nigerian Exchange, with the market capitalisation appreciating by N44 billion. The market closed the day on higher traded volume and positive breadth that revealed increased buying interest, especially in the financial service sector and dividend paying stocks. The expectation of likely having positive corporate earnings as reported in the previous quarter scorecards Read More

Nigeria’s Fintech, Lidya raises $8.3m to scale lending operations

July 7, 2021 Blessing Anaro 0

Nigerian Fintech and lending startup Lidya day announced that it has completed its $8.3 million pre-Series B funding round. Alitheia Capital led the investment via its Munthu Fund. Other investors that participated include Bamboo Capital Partners, Accion Venture Lab and Flourish Ventures. In addition to the $1.3 million seed round secured in 2017 and $6.9 million Series A a year Read More