Minority shareholders of Union Bank of Nigeria (UBN) have expressed satisfaction with the announcement of a N7 per share premium Mandatory Takeover Offer (MTO) by Titan Trust Bank Limited (TTB), the new owners of UBN. The shareholders also commended Titan Trust Bank’s transparency and trust in offering the same MTO to both the minority and majority holders of Union Bank, Read More
Youth and Sports Minister Sunday Dare has extolled President Muhammadu Buhari as well as those who have keyed into his Ministry’s Adopt Initiatives. Four state governors, a deputy governor, some philanthropists and corporate bodies have supported these programmes since inception. Speaking at Thursday’s Presidential Reception for the Team Nigeria contingents to the 2022 World Athletics Championships and Commonwealth Games, the Read More
Activities on the floor of Nigerian Exchange remained low as investors exchanged N1.487 billion on 160.243 million shares in 3847 deals. This is against 86.594 million shares worth N1.170 billion exchanged hands the previous day in 3377 deals. The NGX trading result showed that market capitalisation of listed equities increased marginally by N1 billion or 0.003 per cent to N26.768 Read More
The federal government Monday conducted its regular primary auction of new bond issuances to raise additional N225 billion from the domestic capital market. The result of auction was however not known as at press time. Investment firms at the weekend doubled up efforts at pre-auction marketing of the new issuances with tallies surveyed across many firms indicating that the new Read More
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 0.77% to close at N2.28 trillion as at 15th of July, 2022, as investors in these banks gained a total of N17.44 billion during the trading week. After 3 trading days of the week, 3 of the 5 tier-1 Nigerian banks enjoyed Read More
As the Nigerian economy rises 3.11 per cent in full year ended first quarter of 2022, the hike in interest rate will likely excite investors the more in a tamed inflation era, Bismarck Rewane, Chief Operating Officer (COO) of the Financial Derivatives Company (FDC) Limited has opined. His argument is that, with the Central Bank of Nigeria (CBN) hiking the Read More
Global money market funds obtained massive inflows in the week to April 27 as investors rushed to safer assets on concerns over economic slowdown, surging inflation and the war in Ukraine. According to Refinitiv Lipper, money market funds garnered a net $51.4 billion in their biggest weekly purchase since Oct. 27. The MSCI world equity index dropped to a 13-month Read More
Meta’s (formerly Facebook) Lead Product Manager, Dare Obasanjo, has blamed institutional investors for the overvaluation of cryptocurrency, bitcoin, stating that there was no bigger fool in the crypto market. A bigger fool or greater fool is someone that pays a higher price to purchase an overvalued asset acquired by an investor, who hopes to resell and profit highly from the Read More
The Chairman of Property World African Network (PWAN Group), Dr Augustine Onwumere, has advised property investors to ensure they procure requisite title documents. Onwumere, who gave the advice at the unveiling of PWAN Land Acquisition & Title Procurement Ltd., by PWAN MAX Property and Business Solutions, a member of the PWAN Group, in Lagos, recently, said the possession of title Read More
Sterling Bank Plc investors got a bad return on investment as the shares of the bank dipped drastically in the 2021 financial year, denting investors’ investment in the bank by 28.10 percent. Findings show that the lender’s share traded N2.10 on January 4, 2021, and was sold at N1.51 at the close of business on December 31, 2021, shedding 28.10 Read More
As investors of FBN Holding Plc eagerly await the third quarter audited financial result for the period ended September 30, experts in the banking sector have predicted that the banking group will deliver strong earnings going by its previous financial results. FBNHoldings recently notified the exchange and investing public of the delay in filing its financial results for the period Read More
About 7o domestic and foreign investors have indicated their interest to invest in Jigawa state, a director general in the state, Hajiya Furera Jumare, said over the weekend. She stated while responding to questions from newsmen in Dutse that, already, 16 investors were on ground and they had established their investments which had started yielding positive results. Hajiya Jumare said Read More
The newly elected Enugu State Chairman of the All Progressive Congress (APC), Comrade Adolphus Udeh has mocked the Peoples Democratic Party (PDP) over its pledge to rescue Nigeria. According to Udeh, before rescuing Nigeria, PDP should first account for the uncountable underdevelopment obstacles the party embedded in the system, prior to their exit from power in 2015. In a press Read More
A chieftain of the ruling All Progressives Congress (APC) and real estate mogul, Moses Ayom has described the relationship between Nigeria’s President Muhammadu Buhari and China’s counterpart Xi Jinping as the standard for bilateral cooperation in the world. Ayom, who is aspiring to succeed President Buhari in 2023, said in a goodwill message to both countries marking 50 years of Read More
SRtv, a digital multicast, multicultural arts, entertaining and life style online streaming television is set for the second edition of its talent Expo program scheduled to take place between 1st and 5th of December at the velodrome facility, MKO Abiola National Stadium, Abuja Nigeria. According to Emerald Obahiagbon, the program representative, “this year’s event is aimed at talent discovery in Read More
Last week, the bulls ran the bears underground, with interest in First Bank of Nigeria Holding (FBNH) pushing market capitalisation up by additional N329 billion to berth at N21.6 trillion. Trading activity was strengthened as average volume and value traded rose 66.3 per cent and 119.9 per cent week-on-week ( w/w) respectively. Leading the most traded stocks by volume were Read More
As stakeholders in the agricultural sector continue day two activities of 2021 World Food Day, entrepreneurs and investors in Nigeria has been urged to invest in livestock, horticulture, fisheries and others to take Nigeria into self-sufficiency, food security, rich nutrition, and wealth creation along various value chains. The Minister of Agriculture and Rural Development, Dr Mohammed Abubakar, stated this on Read More
Trading activities on the floor of Nigerian Exchange yesterday closed on a negative note, shedding N80 billion. Specifically, market capitalization of listed equities declined by 0.38 per cent to N21.215 trillion from N21.295 trillion reported the previous day. The NGX All Share Index also depreciated by 154.36 basis points to 40714.00 from 40868.36 point Reported the previous day. Investors traded Read More
Ministry of Mines and Steel Development has pledged its support to the development of mineral resources in Kaduna state. Minister of State Mines and Steel Development Dr Uchechukwu Sampson Ogah said this during his address at the 2021 Kaduna State Economic and Investment Summit, Kadinvest, with the theme “Towards Sustainable. Knowledge-Based Economy,” on Friday. He stated that the Ministry has Read More
Capital market experts have advised Nigerians against investing in Ponzi schemes to avoid losing their hard earned money to fake capital and financial market operators in the country. One of the experts, Akin Adeniyi, who is the President of the Association of Corporate and Individual Investment Advisers (CIIA), while speaking a webinar that reviewed the theme “Ponzi: Plugging the Ills Read More
Last week, the bulls took the market by the horn as investors hunted for bargains. Accordingly, the All-Share Index (ASI) rose 10 basis points (bps) week-on-week (w/w) to 38,943.87 points. Meanwhile, Year to Date (YTD) loss remained unchanged at -3.3 per cent and market capitalisation rose N11.1bn w/w to N20.3 trillion. However, trading activity slowed as average volume and value Read More
Nigerian Green Bond market development Programme, financial Sector Deepening (FSD) Africa has signed a memorandum of understanding (MoU) to facilitate the issuance of the maiden N25 billion Lagos State Green Bond and other sustainability-linked debt securities towards achieving the global Sustainable Development Goals (“SDGs”). Speaking at the signing ceremony, the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, said, “I Read More
Importers of goods and services and other businessmen who depend on foreign exchange for their transactions have warned that prices of goods and services may hit the roof as the fortune of Naira worsens against the U.S Dollar and other international currencies. The exchange rate at the parallel market depreciated again to another all-time low on Wednesday Morning at N557/$1 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
Stock market operators have predicted that mixed performance will be sustained on the nation’s bourse this week ahead of the September Monetary Policy Committee (MPC) meeting and August inflation report. They said this in Lagos on Monday, while speaking on stock market expectations in the new week. The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said that the MPC Read More
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