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 2024
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…
29 mins ago
The United States authorities have auctioned a Cartier watch and a gold chain necklace belonging to Abidemi Rufai, a former aide of the Ogun State governor, Dapo Abiodun, who recently completed a jail term in the US. The auction was done to offset his judgement debt to the US government. Rufai was sentenced…
1 hour ago
Netflix on Tuesday said it added nearly 19 million subscribers during the holiday season to finish out last year with more than 300 million subscribers. Company executives credited steady investments in shows and films with helping power growth at the streaming behemoth, while announcing it is increasing prices in Argentina, Canada, Portugal and the United…
3 hours ago
The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said there is no cause for worry over President Donald Trump’s plan to impose additional tariffs and taxes on goods
3 hours ago
The National Drug Law Enforcement Agency’s (NDLEA) proposed integration into the Deep Blue Project to enhance the protection of Nigeria’s maritime space has, again, raised concern over the rising threat of drug trafficking through the waterways.
3 hours ago
Experts have projected a significant decline in indigenous shipping operations in Nigeria as domestic refinery production rises, reducing the country's reliance on imported petroleum products.
4 hours ago
Lagos Free Zone (LFZ), the first privately-owned zone in Nigeria, has called for collaboration with the Deputy High Commission of Canada to facilitate foreign direct investment (FDI) to the zone.
4 hours ago
Trade Union Congress (TUC) has charged the Taiwo Oyedele-led Presidential Fiscal Policy and Tax Reforms Committee to expand the threshold for tax exemption from N800,000 to N2.5 million.
4 hours ago
The Managing Director of PalmPay, one of Africa’s fintech platforms, Chika Nwosu, has restated the commitment of the company to growing cashless payments across the country. Nwosu disclosed this during a media roundtable held at the weekend in Lagos.
5 hours ago
The Office of the Auditor General for the Federation (OAuGF) has directed the management of the Federal Housing Authority (FHA) to account for N2.57 billion it spent without authorisation.
5 hours ago
The Group Managing Director of Abuja Investment Company Limited (AICL), Maureen Tamuno, has described as erroneous the perception that the Federal Capital Territory (FCT) is a public service city.