The Securities and Exchange Commission (SEC) has embarked on an identity management project with capital market participants to be given unique identifiers to curb issues of fraud in the market. SEC also said that the unique identifiers will reduce the high number of unclaimed dividends as well as noting that the identity management project in the capital market would ensure Read More
The Securities and Exchange Commission has stated that Issuers would henceforth be required to obtain the reference letter of “No-Objection” from their respective primary regulators and file same along with other application documents presented to the Commission. This was contained in a Circular issued by the Commission, Thursday in Abuja. The SEC states that this has become necessary in a Read More
The Securities and Exchange Commission has again restated the need for capital market operators to maintain professionalism and good ethical conduct in the discharge of their duties. The Director-General of the SEC, Mr. Lamido Yuguda who stated this during a meeting with the Chartered Institute of Stockbrokers in Abuja, Wednesday, added that it would make the market more transparent and Read More
The Securities and Exchange Commission (SEC) has reaffirmed that it is committed to making the capital market attractive to Nigerians of all ages and status. Director-General of SEC, Mr. Lamido Yuguda stated this during a meeting with a team lead by the British Deputy High Commissioner in Abuja. Yuguda said the Commission is implementing various initiatives to ensure that products Read More
The Chief Executive Officer, Nigerian Exchange Limited, Mr. Temi Popoola, has said the current Nigerian situation can be turned around with solutions from the stock market. Popoola who made this statement while addressing Capital market stakeholders at the Investment and Securities Bill (ISB) Lawmakers’ Retreat convened by the Securities and Exchange Commission (SEC) said It is well-known fact that countries Read More
In a bid to develop the Nigerian capital market and enhance the economy, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, is set to advance customer assets in 2022 with its bouquet of investment solutions. With a robust marketing campaign theme: Invest for More, Stanbic IBTC urges investors, young and old, retail and corporate, employed and self-employed, Read More
Nigeria’s economic hub, Lagos state received the giant of the total foreign capital inflow to various states in the country, accounting for 85 per cent of the total inflow with $3.84 billion in 2021. According to the capital importation report, released by the National Bureau of Statistics (NBS), only about nine states received foreign inflows, with Abuja trailing a far Read More
Operators in the nation’s capital market have called for the introduction of sachet sized technology driven products that would drive increased retail investors patronage in the capital market. They said that one way to increase retail investors in the market is to develop product specifically for the demographic targeted. The Managing Director and Chief Executive of FMDQ, Mr Bola Onadele, Read More
Nigerian Exchange Limited (NGX) expounded on the various opportunities available to investors to diversify their portfolios. The NGX disclosed this in Lagos at its Retail Investor Workshop. Speaking at the webinar tagged ‘Creating an Investment Portfolio That Works in a Post-COVID Era’, Divisional Head, Trading Business, NGX, Jude Chiemeka said, “the advent of the COVID-19 global pandemic, amongst several important Read More
A voluntary think-tank group of the All Progressives Congress, known as APC Legacy Awareness and Campaign (APC-LAC) has said that President Muhammadu Buhari, is now recognised as a global climate action leader and champion due to his commitment to climate change. The group said ambitious and impactful climate action will no doubt be one of the many positive legacies of Read More
PSL Capital Limited, a leading indigenous broker/dealer firm, has completed a strategic rebranding effort as part of its accelerated company growth and renewal of its corporate vision. The core of the rebrand is a change of the company name to Parthian Securities Limited and an update to the corporate logo and domain name -parthiansecuritiesng.com Over the past 5 years, Parthian Read More
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has described the federal government’s plan for a Eurobond issuance in the International Capital Market (ICM) as a step in the right direction, stressing that the fundamentals and potentials of the nation’s economy are strong with capacity to meet its debt obligations. Akinwuntan, who was assessing the global market as Nigeria makes its Read More
Investors in the nation’s capital market have earned over N700 billion from dividend payout by companies listed on Nigerian Exchange (NGX) Limited. Available report showed that 58 companies across 10 sectors of quoted companies on The Exchange have paid out N732,915,168,509.29. The broke down of the dividend payout showed that financial services has 21 companies, consumer goods followed with seven, Read More
The Securities and Exchange Commission has unveiled plans to reduce its operating costs in order to boost profitability within the next two years. The Director-General, SEC, Mr Lamido Yuguda who said this in Abuja, also noted that the Commission has been paying 25 per cent of gross revenues into the coffers of government. Specifically, he said that the total revenue Read More
When Nigeria’s Gross Domestic Product (GDP) for the second quarter of 2021 was released by the National Bureau of Statistics (NBS) indicating the economy recorded 5.01 per cent growth year-on-year, many were surprised as nothing much had changed between the first and second quarter. A closer look reveals the statistics bureau was telling the truth in an ingenious way; BENJAMIN Read More
The Managing Director/Chief Executive Officer of Africa Prudential Plc, Obong Idiong has said that collaboration between Registrars and Capital Market Operators would help to reduce the high cases of Unclaimed Dividends in Nigeria. Idiong, made this statement at WebTV while providing views on addressing the tide of unclaimed dividends in Nigeria He said that a market-led approach would reduce the Read More
The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government raised N669 billion from the Nigerian capital market through issuance of Sukuk Bonds. Ahmed said this at the Chartered Institute of Stockbrokers (CIS) 2021 national workshop on Thursday. The theme of the national workshop was: “Leveraging the Financial Markets to Achieve Double- Digit Economic Growth for Read More
The Securities and Exchange Commission (SEC) has adopted new measures to tackle the lingering problem of multiple subscriptions in the nation’s capital market. Director General of SEC, Lamido Yuguda who disclosed this while addressjng Journalists at a virtual press briefing after Capital Market Ckmmittee Meeting said that the Commission has already constituted a committee on identity management to harmonize various Read More
The Securities and Exchange Commission (SEC) has expressed its readiness to collaborate with the Risk Management Association of Nigeria in its quest to make more products available in the capital market as well as deepen the market. The Director-General of the SEC, Mr. Lamido Yuguda stated this in a goodwill message on RIMAN 20th International Conference held virtually. Yuguda disclosed Read More
The Securities and Exchange Commission (SEC) is set to hold the Second Capital Market Committee (CMC) meeting in 2021 from Thursday August 12 to Friday 13, 2021. The meeting is scheduled to hold virtually through Zoom with key stakeholders in the capital market meeting on August 12, while the usual interface with the press, on the outcome of the CMC Read More
Seplat Energy Plc has recorded an impressive half year scorecard, posting profit before deferred tax (PBT) of $62.1 million. The amount represents an increase of 142.7 per cent as against negative of $145.3 million reported in first half of 2020. The highlights of the company’s financial result released at the Nigerian Exchange (NGX) showed that revenue went up by 32 Read More
Economists and financial experts in the country have commended the Central Bank of Nigeria over its outright ban on the sale of forex to BDC operators, advising them to source for forex themselves having deviated from their core roles. Recall that the Central Bank of Nigeria had on July 27, 2021 after the Monetary Policy Committee meeting, announced a ban 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
The Nigerian Exchange (NGX) has said that cross-border trading from one African securities exchange to another has come a step closer after the African Securities Exchanges Association (ASEA) signed a contract to procure an order-routing system. The NGX said that seven of Africa’s leading securities Exchanges are working together in the African Exchanges Linkage Project (AELP) to boost pan-African investment Read More
Last week, the National Bureau of Statistics (NBS) released its Consumer Price Index report for the month of June and, surprisingly, it showed that inflation rates had dropped. It has got many Nigerians wondering over the correctness or otherwise of the report as prices of goods and services continue to soar; BENJAMIN UMUTEME reports. For several months, prices of goods Read More
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