Capital Market
LCFE commends FG, CBN on food importation policy
The Lagos Commodities and Futures Exchange and leading commodities brokers have commended the Federal Government and the Central Bank of Nigeria for their recent directive mandating companies to chann...
30th August 2024
Equity market reverses loss with N117bn gain
The Nigerian Stock Exchange reversed its previous day’s loss, as investors gained N117bn on Thursday. The market capitalisation and the all-share index gained 0.21 per cent to close at N55.4tn and...
30th August 2024
Midea, CGCL collaborate on electronic solutions
Midea and Care Global Consumer Limited have partnered to introduce cutting-edge solutions in Nigeria’s electronics market. The collaboration unveiled at a dealers’ conference in Lagos recently, ...
30th August 2024
SEC grants Busha, Quidax provisional crypto licences
The Securities and Exchange Commission has granted approval in principle to two digital asset exchanges, Busha Digital Limited and Quidax Technologies Limited, allowing them to commence operations und...
30th August 2024
Custodian empowers 5,000 young entrepreneurs
The founder and Group Managing Director of Custodian Investment Plc, Wole Oshin, has revealed that the Custodian Mentorship Conference has empowered over 5,000 young entrepreneurs since its inception ...
28th August 2024
Banks dominate trading as investors eye higher dividends
The Nigerian stock market continued its rally, with banking stocks leading the way, contributing over N2.62bn during Tuesday’s trading session. Market analysts told The PUNCH that investors were sho...
28th August 2024
FMDQ secondary market turnover rises to N30.63tn
The FMDQ Securities Exchange reported a 7.78 per cent month-on-month increase in secondary market turnover for July, reaching N30.63tn, a 53.78 per cent increase compared to the same period in the pre...
28th August 2024
Engineers commend Dangote Refinery construction standards
The Nigerian Academy of Engineering, the Nigerian Society of Engineers and the Council for the Regulation of Engineering in Nigeria have lauded the Dangote Petroleum Refinery for adopting world-class ...
28th August 2024
Analysts project capital market rebound
Financial analysts have projected a rebound in both foreign and domestic investments in Nigeria’s capital market, attributing the anticipated growth to recent government policy reforms and improved ...
27th August 2024
Okomu, Oando drive equity market to N36bn gain
The Nigerian Exchange started the week on a positive note, gaining N36bn on the back of appreciation by Eterna, Okomu Oil Palm, Oando and others. The All-Share index and market capitalisation rose by ...
27th August 2024
Africa Prudential declares N791m profit
Africa Prudential has reported a profit after tax of N791m for the first six months of the year. This was disclosed by the Chief Finance Officer of Africa Prudential Plc, Taofiq Giwa, at a webinar, ta...
27th August 2024
Four entrepreneurs win $40,000 Anzisha Prize
The Anzisha Prize for 2024 has been won by four young African business owners, who were presented with a $40,000 prize at the annual Entrepreneurship Education in Africa Awards gala in Johannesburg, S...
27th August 2024
Sterling One, others drive N3bn social investments
Sterling One Foundation, in partnership with the Coca-Cola Company Nigeria, Sterling Bank Limited, and the United Nations Global Compact Network Nigeria, has reiterated its commitment to driving socia...
27th August 2024
Baobab app savings hit N1.3bn
Baobab Nigeria’s recently launched savings app, Jollof+, has recorded over N1.3bn in savings 64 days after its debut. In a statement made available to The PUNCH, the firm noted that the achievement ...
26th August 2024
Equity market sheds N815bn in one week
The Nigerian equity market suffered a N815bn loss last week, driven mainly by bearish trading activities on Monday and Thursday. The NGX All-Share Index dipped 1.16 per cent and market capitalisation ...
26th August 2024
Infinity Trust Mortgage Bank plans N50bn capital raise
Infinity Trust Mortgage Bank Plc has announced plans to raise N50bn through private placement as part of its efforts to strengthen its capital base and drive future growth. The Chairman of the bank, E...
23rd August 2024
NGX Regco backs FRC on new reporting standards
The Chief Executive Officer of NGX Regulation Limited, Olufemi Shobanjo, has commended the Financial Reporting Council of Nigeria for spearheading sustainability reporting standards across Africa. Spe...
23rd August 2024
Letshego MFB rewards customers in promo
Winners have emerged in the ongoing Letshego Microfinance Bank Nigeria savings promo. A statement from the bank indicated that the first 20 winners of the ‘Save & Win’ promo, each received a c...
23rd August 2024
Equity market extends loss by N65bn
The Nigerian equity market continued to decline on Thursday with a N65bn loss. The All Share Index and the market capitalisation shed 0.12 per cent to close at 95,718.05 points and N54.98tn, respectiv...
23rd August 2024
SEC endorses PEARL Awards
The PEARL Awards Nigeria has received a boost as the Securities and Exchange Commission has endorsed it. In a statement, the President and Chief Executive Officer of PEARL Awards Nigeria, Tayo Oreko...
23rd August 2024
Int’l Breweries share listing boosts NGX market cap by N599bn
The Nigerian stock market capitalization increased by N599 billion following the listing of new shares by International Breweries Plc. The market capitalisation settled at N54.047tn at the close of tr...
22nd August 2024
Unity Bank empowers youths with digital skills
Unity Bank Plc has reaffirmed its commitment to youth empowerment by hosting a webinar focused on equipping Nigerian youths with digital skills, aiming to bridge the digital divide in the tech-driven ...
22nd August 2024
Equity market loses N1.6tn in six days
The Nigerian Stock Exchange extended its bearish trend to the sixth consecutive trading session, losing N1.6tn during this period. The All Share Index fell by 1.36 per cent, closing at 95,781.68 point...
20th August 2024
Airtel Africa plans $50m share buy-back
Airtel Africa has announced the second tranche of its $100m share buy-back programme. In a notice filed with the Nigeria Exchange Limited on Monday, the new phase, valued at up to $50m, is set to run ...
20th August 2024
NAHCO denies N778m fraud allegations
The Nigerian Aviation Handling Company has denied recent allegations of fraudulent activities involving the company’s role in the 2024 Hajj operations. In a notice filed with the Nigeria Exchange Li...
19th August 2024
N847bn lost as equity market extends downtrend
The Nigerian equity market extended its downtrend to the second consecutive week, losing N847.03bn, due to sell-offs. The All-Share Index and market capitalisation declined by 1.51 per cent, closing t...
19th August 2024
Equity market extends loss to fourth consecutive day
The Nigerian equity market’s downward streak extended to the fourth consecutive session on Thursday, as investors lost N56bn. Due to persistent sell-offs, the All Share Index declined by 0.10 per ce...
16th August 2024
SEC vows to address N215bn unclaimed dividends
The Securities and Exchange Commission has reiterated its commitment to resolving the lingering issue of unclaimed dividends, which currently stands at N215bn, through the deployment of advanced techn...
16th August 2024
Industry leaders advocate telecom-capital market collaboration
Industry leaders have canvassed for a stronger partnership between Nigeria’s telecommunications sector and the capital market. They noted that such a synergy could unlock new investment opportunitie...
16th August 2024
MSMEs face N13tn financing gap – PwC
Price Waterhouse Coopers has disclosed that Micro, Small, and Medium Enterprises in the country faced an N13tn ($32.2bn) financing gap. PwC’s recent survey, titled “Building Resilience: Strategies...
16th August 2024
Dangote stocks decline amid merger denial, forex crisis
The recent decrease in the stock prices of the Dangote Group, which includes Dangote Sugar Refinery and NASCON Allied Industries, has been attributed to foreign exchange losses and the Securities and ...
15th August 2024
