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 2024
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 2024
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…
16 mins ago
Five days after Alhaja Sikirat Odumosu, wife of former Assistant Inspector General of Police (AIG) Hakeem Odumosu, was abducted in Arepo, Ogun State, the police are yet to establish contact with her kidnappers.
1 day ago
The Minister of Aviation and Aerospace Development, Festus Keyamo, has flagged off the construction of the XeJet Flight Support and Engineering facility valued at about $10 million at the Nnamdi Azikiwe International Airport, Abuja. The facility, to be constructed by the Chinese Civil Engineering Construction Company (CCECC) over a period of 18 months, will include…
1 day ago
The Kano operatives of the Nigeria Security and Civil Defence Corps have nabbed six motorcycle thieves who attacked and snatched motorcycles from members of the public forcefully. They were arrested in the Gurin Gawa and Bechi areas of Kumbotso Local Government Area of the state. Confirming the arrests of the suspects, the state’s NSCDC spokesperson,…
1 day ago
The Federal Government, on Monday, approved a new 50 per cent hike in the cost of telephone services in the country. This comes 12 years after the last tariff hike was effected. This was announced by the Nigerian Communications Commission (NCC) in a statement signed by the Director of Public Affairs, Reuben Muoka. The new…
1 day ago
Operatives of the Nigeria Police have arrested three suspects who have been stealing cars with master keys in Ondo State. The suspects, identified as Temidayo Folajimi, Rotimi Akinsanoye, and Waheed Adekanmbi, who also buy and sell stolen vehicles, specialized in stealing cars from where they were parked. While parading the suspects at the police headquarters…
1 day ago
Bitcoin hit a record high above $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president.
1 day ago
The rising rate of insurance claim defaults is unsettling in the sector, and the insured is fast pitching against the insurers.
1 day ago
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele has called for the implementation of the tax reform bills by mid-2025, noting that the current system is holding the country hostage and needs to be fixed.
1 day ago
In response to the consumer price inflation report for December 2024, which put inflation at is34.8 per cent, the Nigeria equities market closed last week trading on a downturn as investors lost N1.4 trillion in five trading days.
1 day ago
In the first nine months of last year, the earnings per share (EPS) of FBN Holdings Plc, the parent company of First Bank of Nigeria Limited as well as its profit grew by 125 per cent year-on-year (Y/Y).