Capital Market
2 Dec
The federal government has announced the launch of Eurobonds worth $500 million under its Global Medium Term Note Programme to finance the 2024 budget deficit. The federal government intends to issue the Eurobonds in two tranches. The first is a six-and-a-half-year bond with a coupon rate of 10.125 per cent, while the second tranche is…
26 Nov
Head of Business Technology and Digital Innovation at Central Securities Clearing System (CSCS) Plc, Mr Tobe Nnadozie, has revealed the role digital innovation is playing in expanding the capital market and the economy. He made the disclosure recently in Ibadan, Oyo State, during the Annual Chartered Institute of Stockbrokers’ Conference 2024. According to him, the…
11 Nov
The Nigerian Exchange Ltd. (NGX) on Monday opened the week positive with N84 billion profit added to the portfolios of investors. Specifically, the market capitalisation which opened at N58.920 trillion, gained N84 billion or 0.14 per cent to close at N59.004 trillion. The All-Share Index also gained 0.14 per cent or 138.1 points, to close…
7 Nov
Following sell-offs of Oando Plc and 20 otherstocks, the Nigerian capital market, yesterday, reversed gains to close on a downward note
17 Oct
The equity market extended its losses on Thursday as the market capitalization dropped by N127 billion, or 0.21 per cent, from N59.559 trillion to close at N59.432 trillion. Similarly, the All-Share Index declined by 0.21 per cent, losing 210.2 points to close at 98,081.38, compared to 98,291.53 recorded on Wednesday. As a result, the year-to-date…
14 Oct
The Nigerian stock market started the week on a bullish note, with the listing of Aradel Holdings stocks contributing N3.42 trillion to the Nigerian Exchange Ltd. (NGX) market capitalization. The News Agency of Nigeria (NAN) reports that Aradel Holdings officially listed its shares by introduction on the Main Board of the NGX at N702.69 per…
11 Sep
Guaranty Trust Holding Company (GTCO) has announced a record net profit of N905.6 billion for the first half of 2024, marking the highest profit ever achieved by a Nigerian-listed company. This result is approximately double the after-tax profit of Dangote Cement, Nigeria's largest company by market value, for the previous year. The company’s net profit…
20 Aug
The Federal Government has opened offers for its dollar-denominated domestic bond of $500m at an interest rate of 9.75 per cent per annum for
5 Aug
Foreign Exchange Spot and Derivatives markets’ turnover for the week ended August 2, 2024, was $1,087.33 million, representing a decrease of 16.5 per cent or $215.24 million from $1,302.57 million recorded on July 26, 2024.
5 Aug
With over N1 trillion loss suffered by stock market investors in July, shareholders have urged the Federal Government to create grant incentives to listed firms to halt the slide.
26 Jul
The high cost of energy continues to take its toll on businesses in the form of high production cost, with two companies spending
28 May
The effect of the harsh operating environment has continued to impact negatively on the operations of the nation's brewery industry, as prolonged inflation, unemployment and overall hardship impact negatively on consumer disposable income, resulting in shrinking demands for product.
25 May
The Nigerian Exchange Ltd. (NGX) has delisted the entire issued share capital of Arbico Plc from its daily official list after 46 years of listing. The NGX disclosed in its weekly official report made available to newsmen in Lagos that the company was delisted on Monday, May 20. The News Agency of Nigeria (NAN) reports…
47 mins ago
Out of the N5.718 trillion distributable value-added tax (VAT) revenue shared by the Federation Accounts Allocation Committee (FAAC) between January and November 2024, three states and the Federal Capital Territory (FCT) earned N4.183 trillion as their share, leaving the remaining 33 states to scramble for the remaining N1.534 trillion. Based on the current VAT revenue…
2 hours ago
Mr Adegboyega Oyetola, the Minister of Marine and Blue Economy says upgrading the Maritime Academy of Nigeria (MAN), Oron to a university,
1 day ago
The Central Bank of Nigeria (CBN) has imposed a fine of ₦150 million on Deposit Money Banks (DMBs) found guilty of aiding the illegal distribution of mint naira notes to currency hawkers. CBN, in a circular issued on Friday and signed by Mohammed Olayemi, Acting Director of the Currency Operations Department, said it was concerned…
1 day ago
Some commercial banks inefficient operations of late have been identified as a major setback to cargo clearance at the seaports, especially on the platform of B’Odugwu digital system recently introduced by the Nigeria Customs Service (NCS).
1 day ago
FG flags off Abia Airport construction on Tuesday, says Kalu From Adamu Abuh, Abuja The flag-off of the construction of the Abia Airport would be held on Tuesday, according to the Deputy Speaker of the House of Representatives, Rt Hon. Benjamin Kalu. Kalu said that the Abia Airport project is a testament to the Federal…
1 day ago
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has renewed its commitment to tackling corruption in the upstream petroleum sector. The Chief Executive, NUPRC, Gbenga Komolafe, who disclosed this at the celebration of International Anti-Corruption Day
1 day ago
Schneider Electric has been awarded Employer of the Year in the Energy and Utilities Sector by the Nigeria Employers’ Consultative Association (NECA). The company was recognized at the 4th edition of the Annual Employers Excellence Award ceremony in Lagos.
1 day ago
Access Bank Plc has entered into a binding agreement with South Africa-based Bidvest Group Limited for the acquisition of a 100 per cent equity stake in Bidvest Bank Limited.
1 day ago
Project Management Institute (PMI) has celebrated 50 exceptional rising leaders transforming the world by leveraging their project management skills to tackle today's most pressing challenges. As shown on the 2024 Future 50 list
1 day ago
Recognizing the glaring gap in global conversations, where African brands are often sidelined and undervalued, two visionary brothers based in Nigeria and the United States respectively, have taken the initiative of bridging that gap with the launch of Reuben&Samuel