Based on the recently released Nigerian Stock Exchange (NGX) domestic and foreign investment report for December 2021, the total value traded on the local bourse declined by 19.3 per cent Month-on-Month (m/m) to N158.3 billion ($363.8 million) in December from N196.1 billion ($472.5m) in November. Similarly, since the local bourse lacked the visit of a Santa Claus rally in December, Read More
Oil major, Total Nigeria has implemented a restructuring of its organisation with the retirement of Patrick Olinma, its erstwhile Executive Director in charge of commercial activities, along with other key management executives of the company. Further investigation revealed that Mr Olinma, now a former Executive Director of Total Nigeria is currently under investigation by the Economic Financial Crime Commission (EFCC) Read More
The financial sector led the pack of quoted companies on the Nigerian Stock Exchange that paid dividends during the first half of 2021, with their CEO earning big despite the economic downturn. Chairman of Zenith Bank Plc, Jim Ovia led the pack with the sum of N1.06 billion as dividends from his direct shareholdings for the period under review As Read More
Nigeria opened the order book for a $3 billion Eurobond offering on yesterday, aiming to issue the bond next week, according to a notice to investors seen by Reuters. The West African country is aiming to issue the debt in tranches of three tenors – a seven-year at a yield of 6.5%, a 12-year bond at 7.75% and a 30-year Read More
A consumer advocacy forum known as Nigeria Consumer Protection Network (NCPN) has urged the new Minister of the Power, Engr Abubakar Aliyu, to deliver on the reform programmes put on in place towards repositioning the sector. The forum in a statement made public by its President, Kunle Olubiyo, attributed the quagmire still being experienced in the Nigerian Electricity Supply Industry Read More
NGX Regulation (NGX RegCo) Limited – the independent regulatory company of Nigerian Exchange Group has assured stakeholders that there will be no diminution in the value that regulation has brought to the market in this new era of demutulisation. Chief Executive Officer, NGX RegCo, Ms. Tinuade Awe stated this during the Arise Xchange Show on Arise Television. Awe who spoke Read More
Financial results of Jaiz Bank Plc for the second quarter ended 30th June 2021 was released to the Nigerian Stock Exchange, showing a 70.6% growth in Profit After Tax (PAT), from N1.17 billion declared in June 2020 to N1.99 billion at the end of June 2021. The Bank’s Total Income for the period under review grew by 42.1% from N6.23 Read More
Lagos, July 28, 2021: FCMB Group Plc has reported a gross revenue of N94.2 billion and Profit Before Tax (PBT) of N8.9 billion for the half-year ended June 30, 2021. These were the highlights of the Group’s unaudited results for half-year released on the floor of the Nigerian Stock Exchange (NSE) floor on Wednesday, July 28, in Lagos. Other performance Read More
GTBank remains Nigeria’s most valuable bank by market with its most recent market valuation at N820.26bn, leading other banks in the country, according to their market valuation at the Nigerian Stock Exchange based on end of day prices as of the 28th of June 2021. Zenith Bank followed closely with a market value of N747.24bn. The Ebenezer Onyeagwu-led bank is Read More
The Nigerian Stock Exchange (NSE) recent report on domestic and foreign portfolio participation in equities trading showed that total equities market transactions decreased in May 2021 compared to the volume of transactions recorded in April 2021 as investors waited on the sidelines given the relative rise in interest rates. The report also showed that sell-offs by the domestic institutional investors Read More
Equities transaction on the floor of Nigerian Stock Exchange yesterday had mixed tend and sentiments that reflects selloff, profit taking and repositioning by market players ahead of the end of second quarter and half year earnings reporting seasons. The market as a result sustained volatility, as the two key market indices declined by 1.81 pee cent. Specifically, Market Capitalisation of Read More
In order to enable Nigeria’s biggest lender by market value, Guaranty Trust Bank (GTB) Plc, consolidate its businesses into a single group, the Nigerian Exchange has halted trading in the shares of Guaranty Trust Bank (GTB) Plc, as the bank moves to transit into a holding company. The transaction is to enable Nigeria’s biggest lender by market value to consolidate Read More
Nigerian Exchange Group (NGX Group) Plc is set to launch a campaign to project its new positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world. The programme tagged, The Stock Africa Is Made Of, will kick off campaign with a webinar on Tuesday, 18 May 2021 and will Read More
Trading activities on the floor of the Nigerian Stock Exchange yesterday open week in positive note, gaining N59 billion as some companies begin to pay cash dividend to investors. Specifically, market Market Capitalisation of listed equities increased by 0.29 per cent to N20.490 trillion from N20.431 trillion reported the previous day. The NSE All Share Index also appreciated by 113.99 Read More
Financial result of Jaiz Bank Plc for the first quarter ended 31 March 2021 was released to the Nigerian Stock Exchange, the result show that the Bank’s gross revenue increased by 43% over the same period last year, from N4.18 billion to N5.99 billion. Profit before taxation increased significantly by 54% which amounted to N979.17 million as against N636.69 million Read More
Equity price at the close of transactions on the floor Nigerian Stock Exchange drclinded shedding N17 billion,after publc holiday declared by government to celebrate works day. Specifically, Market Capitalisation of listed equities declined 0.081 per cent to N20.830 trillion from N20.847 trillion reported last week Friday. The NSE All Share Index also depreciated by 32.64 basis points to 39801.78 points Read More
Under the new leadership of Nneka Onyeali-Ikpe as MD/CEO, Fidelity Bank Plc profits before tax in the first 3 months of 2021 grew by 53.9 per cent from N6.6 billion in 2020 to N10.1 billion for the corresponding period of March 31, 2021. Onyeali-Ikpe assumed the leadership of the bank in January 2021 following the retirement of Nnamdi Okonkwo in Read More
Trading activities on the floor of the Nigerian Stock Exchange yesterday sustained volatility as the composite All share Index closed negative, shedding 524.0 basis points as investors embarked on profit taking in the midst of first quarter earnings season. The NSE All Share Index fell by 1.33 per cent to 38781.48 points from 39305.48 points traded on Tuesday. Market Capitalisation Read More
Ecobank Transnational Incorporated (ETI) has released its first quarter financial results for the period ended March 31st, 2021 showing remarkable performance in all the key financial indices. The Pan African bank recorded a profit Before Tax (PBT) of N40.3 billion, representing 22 per cent increase over the N33 billion reported at the same time in 2020. Profit After Tax (PAT) Read More
Shareholders of Custodian Investment Plc have authorised the board of directors of the company to raise the Naira equivalent of up to $15 million as additional capital through a convertible loan instrument. The shareholders gave the approval at the 26th Annual General Meeting (AGM) of the group held in Lagos yesterday. They also authorised the directors of the company to Read More
The Nigerian equity market continued to rally on Tuesday, with the composite All Share Index closing higher, gaining 112.76 basis points. The Nigerian Stock Exchange All Share Index also appreciated by 0.29 per cent to 39128.34 from 39015.58 points traded on Tuesday. Market Capitalisation of listed equities increased by N59 billion or 0.29 per cent to N20.477 trillion from N20.418 Read More
Unity Bank Plc has grew its assets base to N492.02 billion at the end of the 2020 financial year.The amount represent a significant increase of 67.90 per cent from N293.05 billion total assetsvalue recorded in 2019. This is even as the agric-focused bank recorded gross earnings of N42.71 billion within theperiod under review against N44.59 billion achieved in the preceding Read More
Recent report to the effect that the immediate past Ambassador of Norway to Nigeria, Jens-Petter Kjemprud, had listed the organisation of two donor conferences that raised $1bn for the development of the North-east as one of his achievements in office, is quite remarkable. The gesture is an ample demonstration of good friendliness and mutual diplomatic relationship between the two countries. Read More
The Debt Management Office (DMO) announced the auctioning of three federal government bonds of N150 billion at N1,000 per unit. This was announced on Wednesday. Details obtained from DMO’s website showed that the three bonds were valued at N50 billion each, with interest rates of 16.29 per cent; 12.50 per cent, and 9.80 per cent, respectively. It listed the auction Read More
Nigeria’s largest bank by total assets toppled First Bank, Zenith Bank and UBA to occupy the first position with e-business revenue of 56.09 billion in 2020, according to the audited financial statements of 12 of the leading banks in the country. Access Bank was fourth position in 2019 but catapulted to first as it grew its e-business income by a Read More
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