Capital Market

UNDP, ULCG, 120 nations in Cape Verde for African economic growth

Ihesiulo Grace 16 October 2017 0

Resurgence of Africa’ economic development and empowerment of larger population of its people through grassroots approach will be the focus of the 4th World Forum on Local Economic Development (LED), from October 17-20, 2017 in Praia, Cape Verde. The summit is organized by United Nations

Capital Market

CBN’s N35bn T-Bills auction raises NIBOR rate to 21.24%

Ihesiulo Grace 16 October 2017 0

The Central Bank f Nigeria’s (CBN’s) OMO auction, Friday’s selling N35billion worth of 181-day Treasury bills at 17.84 per cent coupon, impact on money market rates last week as the new week opens on fresh expectations. Following the T-Bill auction, the 1month NIBOR rate inched up 10bps to 21.24 per cent, which market analysts attributed […]

Capital Market

Fidelity Bank settles of $255,503, 000.00 tender offer Notes today

Ihesiulo Grace 16 October 2017 0

Fidelity Bank Nigeria Plc has announced Monday, 16th October , 2017, as settlement date for investors that tender their Fidelity Bank dollar denominated Notes for purchase, subject to offer it made on 27th September, 2017. The bank said in a statement signed by the Company’s Secretary Ezinwa Onuigboje, that subject to minimum denomination, it will […]

Capital Market

How Forte Oil improves PAT by 81.4% in 9 months

Ihesiulo Grace 16 October 2017 0

Forte Oil Plc has reported a 81.4 per cent increase in its profit after tax (PAT) for the period ended 30th September, 2017. The energy group’s 9-month financial statements released via the Nigerian Stock Exchange (NSE) at the weekend, showed PAT grew from N2.8 billion reported in the same period of the previous year, from […]

Capital Market

NSE records 244.3 % FPI transaction increase in August

Ihesiulo Grace 16 October 2017 0

A report on Foreign Portfolio Investment (FPI) for the month of Aug-2017 recently published by the Nigerian Stock Exchange has revealed an increment in foreign investor appetite. According to the report, Total market transactions from January to August surged 83.3% to N1.5tn compared N0.8tn in the same period in 2016. Interestingly, FPI transaction jumped 244.3% […]

Business Capital Market News

Dangote Refinery: Africa’s Biggest Refinery Takes Shape

Ihesiulo Grace 16 October 2017 0

The completion of Dangote Refinery in 2019 will mark another milestone in the Nigerian oil and gas industry as the $11 billion refinery hold the prospect of stopping of refined petroleum products by Nigeria. The Dangote Refinery will produce 650,000 barrels per day of refined petroleum products to meet all the country’s refined petroleum products […]

Capital Market

Union bank: Share floats to remain below 20% unless market improves

Ihesiulo Grace 13 October 2017 0

The Chief Executive officer of Union Bank Plc, Mr. Emeka Emuwa has said that the bank, which is currently on breach of regulatory prescribed 20 per cent share flotation may sustain the tempo until trends in the market improves. The bank’s CEO made the revelation on Wednesday, at the Nigerian Stock Exchange (NSE) during the […]

Capital Market

ITFC/ SNTL sign agreement to boost Africa-Arab trade

Ihesiulo Grace 13 October 2017 0

Trade relations between African countries and the Arab nations is poised to emerge stronger following a recent agreement signed by between the International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group and the National Company of Transport and Logistics (SNTL). The pact, which was signed in the Kingdom of Morocco, […]

Business Capital Market Capital Market

Coronation boss wants collective investment for economic growth . Lists N2.17bn Mutual Funds on NSE

Ihesiulo Grace 10 October 2017 0

Coronation Asset Management, a subsidiary of Coronation Merchant Bank Ltd, on Monday, listed three mutual funds worth N2.17billion on the Nigerian Stock Exchange (NSE), to ensure investment diversification. Mutual funds, are collective investment schemes (CIS), are joint investment vehicles through which investors can pool funds and invest in chosen basket of securities

Business Capital Market Capital Market

NSE opens 2017 essay competition for secondary schools

Ihesiulo Grace 10 October 2017 0

The Nigerian Stock Exchange, NSE, has announced the commencement of the 2017 NSE Essay Competition with call for entries from students in Senior Secondary Schools in Nigeria. The topic for this year’s edition of the NSE Essay Competition is: “Investor education is critical to retail investor participation in the capital market. Discuss.” To enter for […]

Capital Market

Equities market reverses previous week’s loss as index rebounds 2.49%

Ihesiulo Grace 9 October 2017 0

The Nigerian equities market rebounded at the week ended 6th October, 2017, as the ASI closed higher to completely reverse previous week’s loss. The market had started the holiday-shortened week on Tuesday, with a negative performance that pulled ASI -0.38 percent lower, largely due to losses recorded by Dangote Cement, Nigerian Breweries and PZ Cussons […]

Capital Market

Jumia inaugurates first e-commerce service

Ihesiulo Grace 9 October 2017 0

Jumia Nigeria, has introduced Nigeria’s first e-commerce bot, which enables Jumia and its users to shop, order food, find fashion or electronic items; and book hotels and flights by having an online conversation with the bot. CEO Jumia Nigeria, Juliet Anammah, in a statement on the significance of this new service, said “Jumia Bot has […]

Capital Market

Read market data to emerge profitable investor- Onyema

Ihesiulo Grace 9 October 2017 0

Understanding how to use market data has been ascribed as one of the key tools that will make investors in the capital market record impressive growth on their investments. Disclosing this at the NSE 2nd Market Data Workshop in Lagos, CEO, Nigerian Stock Exchange, Mr. Oscar Onyema said that though there are many ways through […]

Capital Market

Citi Foundation partners IRC on refugee entrepreneurship

Ihesiulo Grace 9 October 2017 0

 Supports group with $2m The Citi Foundation and the International Rescue Committee (IRC) have entered into partnership that will provide refugees, young people displaced within their own countries and vulnerable youth from the communities hosting them with support. The $2 million grant by Citi will help the target population generate a reliable income and contribute […]

Capital Market

CBN: N103bn OMO sales forces OBB/OVN rates to soar by over 300%

Ihesiulo Grace 9 October 2017 0

Effort by the Deposit Money Banks to have a piece of the Central Bank of Nigeria’s (CBN) Open Market Operations (OMO) sales last Friday, forced the Open Buy Back (OBB) and Overnight (OVN) rates to soar, hence, most banks resulted to borrowing due to lack of liquidity to meet their allocations. Open market operations (OMO), […]

Capital Market

SEC Nigeria Celebrates World Investor Week 2017

Ihesiulo Grace 6 October 2017 0

The Securities and Exchange Commission has announced plans to join the International Organisation of Securities Commissions (IOSCO) and other capital market regulators across the globe to celebrate the 2017 edition of the IOSCO World Investor Week, which is a first of its kind from 2nd through 8th October 2017. The Investor Week (WIW), is a […]

Capital Market

SEC targets women, artisans to celebrates World Investor Week 2017

Ihesiulo Grace 6 October 2017 0

The Securities and Exchange Commission has announced plans to join the International Organisation of Securities Commissions (IOSCO) and other capital market regulators across the globe to celebrate the 2017 edition of the IOSCO World Investor Week, which is a first of its kind from 2nd through 8th October 2017.   The commission, under the leadership of […]

Capital Market

FMDQ launches SFS for DCM development project

Ihesiulo Grace 6 October 2017 0

Address challenges affecting finance related bonds The FMDQ OTC Securities Exchange in collaboration with DCM stakeholders has launched a sustainable finance sub-committee (SFS) in its Debt Capital Market Development (DCMD) Project. This was demonstration by the FMDQ in its commitment to the transform the Nigerian debt capital market (DCM) into a world-class, properly

Capital Market

 Equities market sustains growth as investors gain N143bn

Ihesiulo Grace 6 October 2017 0

The growth recorded in the equities market on Wednesday, was further strengthened as the Nigerian Stock Exchange All- Share Index (NSE ASI) appreciated by 1.17 per cent improving the year to date returns to 33.11 per cent at the close of Thursday’s trading session. The NSE ASI added 415.41 points to close at 35,773.98 basis points […]

Capital Market

Investors react negatively to PZ’s Q1 results

Ihesiulo Grace 4 October 2017 0

Following the release of PZ Cussons first quarter results posted on the Nigerian Stock Exchange’s Official Website on Tuesday, the stock recorded decline of 4.98 per cent to close at N24.23 per share. An analysis of the results showed Gross Margin was down by 3 percentage points to 32 per cent for the period ended […]