Capital Market

Guinness Nigeria commences N39.7 b Rights Issue

Ihesiulo Grace 5 July 2017 0

Following shareholders’ approval received in January, Guinness Nigeria Plc has now received clearance of the issue documents from the Securities and Exchange Commission, SEC, and approvals from the Nigerian Stock Exchange, NSE, to list the new Guinness Nigeria shares on the Exchange. The

Capital Market

Equities Market extends loss to 3rd day, down N335bn

Ihesiulo Grace 5 July 2017 0

Equities Trading has extended the Bearish run to the third consecutive trading session with the market capitalization shedding N335 billion since last Friday , to close at N11.170 trillion on Tuesday. The day’s performance indicates, equities investors have resorted to sector-wide profit booking, following gains recorded in preceding sessions. The All-Share Index thus

Business Capital Market

AAAN Hold its 44th AGM, charts new course

Ihesiulo Grace 28 June 2017 0

The Association of Advertising Agencies of Nigeria (AAAN) has concluded plans to hold its 44th Annual General Meeting/Congress in Lagos State. The AGM will hold beginning from Thursday, 6th to Saturday, 8th July, 2017. Venue is, the Golden Tulip Festac Hotel, Lagos State. Its theme is, “Fresh Thinking.” The President of the Association, Mr. Kayode […]

Capital Market Politics

Nigeria has great future in Biotechnology –DG, NABDA

Ihesiulo Grace 23 June 2017 0

The Director General, National Biotechnology Development Agency (NABDA), Professor Lucy Ogbadu, has said that Nigeria has great future with the appropriate deployment of Biotechnology in the Agricultural Sector. Ogbadu, who described Biotechnology as a cutting-edge tool that has the potential of changing the way farming is done and ensuring a food- secured Nigeria made the

Capital Market

Orjiako hikes stake in Seplat to 8.4 %

Ihesiulo Grace 23 June 2017 0

Dr. Ambrosie Bryant Chukwueloka (A.B.C) Orjiako now holds a combined direct and indirect interest of 8.39 per cent in Seplat Petroleum a statement from the Nigerian Stock Exchange (NSE) has said. The statement from Seplat Petroleum Development Company , which is in accordance to regulatory filing rules by the NSE, noted that Dr. ABC Orjiako, […]

Capital Market

Naira closes at 367/$1 at parallel market

Ihesiulo Grace 21 June 2017 0

The Nigerian currency, Naira, on Tuesday, gained a point to close at 367 per US dollar against 368 sold on Monday, at the parallel market. Amidst call to Central Bank of Nigeria (CBN) to unify multiple foreign exchange market to sustain gains, the Naira, remained flat at against Pound and Euro, exchanged at £1/N465 and […]

Capital Market

Premier Paints’ new MD charged on profitability

Ihesiulo Grace 12 June 2017 0

Following the appointment of a new managing director for the Premier Paints Plc,stakeholders in the company want the new company boss to return the firm to grow its earnings. In deed, a cross- section of retail investors in the nation’s capital market have voiced the need for the newly appointed managing Director of Premier Paints […]

Capital Market

Forte Oil to grow earnings, reward shareholders despite challenges

Ihesiulo Grace 12 June 2017 0

Forte Nigeria Plc, is positioned to deliver more value and returns on investments of the stakeholders and the shareholders, through sustained effort at growing earrings ad gross income in all fronts of its business module. This was disclosed recently by the company in Lagos, during a media conference , following the unveiling of the company’s […]

Capital Market

Total Nigeria: Shareholders excited over 2016 results, rue recession

Ihesiulo Grace 12 June 2017 0

Investors of Total Nigeria Plc has commended the board for an impressive 2016 financial results and approved a dividend of N5.8 billion proposed for the financial year at the company’s 39th Annual General Meeting (AGM) held in Lagos on Friday. The meeting, which served as an avenue to review the financial performance of the prior […]

Capital Market

NSE: Oil & gas index boosts market by 17.11 %

Ihesiulo Grace 12 June 2017 0

The Nigerian Stock Exchange’s, NSE’s Oil & Gas index led other sectoral gainers on the exchange by a 17.11 per cent growth for the week ended 9th June, 2017. According to trading statistics sourced from the NSE, sectoral performance stayed generally bullish, as all other indices finished higher during the week with the exception the […]

Capital Market

Manufacturing report showing an increase in all the indices measured in the month of May.

Ihesiulo Grace 2 June 2017 0

  The Central Bank of Nigeria has released its manufacturing and non-manufacturing report showing an increase in all the indices measured in the month of May. Manufacturing activity measured by Purchasing Managers’ Index was reported higher at 52.5 reading, posting a second consecutive month increase. Ten of the 16 sub-sectors surveyed grew in the month […]

Capital Market

FG’s broad Agric. Policy to drive grassroots development – Ogbe

Ihesiulo Grace 25 May 2017 0

The Nigerian federal government’s inclusive agriculture policy, is meant not only to boost economic development, create jobs and enhance food sufficiency, but targets at driving grassroots economic growth. Hence agriculture accounts for major profession of the local population, the policies are also geared towards ameliorating challenges posed by subsistence farming,

Capital Market

Austin Laz closed 2016 year at N146 million LBT

Ihesiulo Grace 25 May 2017 0

The challenging business operating environment continued to impact negatively on manufacturing companies in Nigeria, reflected by Austin Laz Plc 2016 audited financial statement. The company’s 2016 financial year result recently released showed that it recorded loss before tax of N146,038 million in 2016 financial year, against N58,499 million posted in 2015 financial year

Capital Market

ARM wants investors to beat June 30 deadline on paper dividend

Ihesiulo Grace 25 May 2017 0

Arms Investments, has called on investors to take advantage of ongoing free e-dividend registration sponsored by the Securities and Exchange Commission (SEC) to enhance documentations on electronic dividend payment. The company its mails to diversified investors titled “The SEC calls for the investing public to take advantage of the on-going free e-dividend registration

Capital Market

NSE maintains growth, as investors’ worth improve by N67bn

Ihesiulo Grace 25 May 2017 0

Transactions on the Nigerian Stock Exchange (NSE) on Wednesday continued on an upward trajectory as market indices recorded a mild appreciation at the close of trading activities. The market capitalisation rose by N66.8 billion to close at N9.778 trillion against the N9.712 trillion recorded on Tuesday. Similarly, the All-Share Index increased by 193.13 points or […]

Capital Market

Nestle shareholders endorse N7.9bn dividend

Ihesiulo Grace 24 May 2017 0

Nestle Nigeria PLC will today, Wednesday, pay out a dividend of N7.93bn as approved by shareholders at its 48th Annual General Meeting held in Lagos on Tuesday. The dividend translates to N10 per share and represents a 100 percent pay-out ratio on the issued share capital of 792.7 million ordinary shares of 50k each. In […]

Capital Market

FBN Capital Asset Management maintains leadership positions

Ihesiulo Grace 24 May 2017 0

According to the Securities and Exchange Commission, SEC, the commitment to value creation and delivery, continue to generate valuable dividend as the FBN Fixed Income Fund, sustained leadership as the largest mutual fund in its category at the end of March 2017. This was affirmed by the apex capital market regulator.This was coming as Mr. […]

Capital Market

NSE ASI records 0.05 percent growth on bargain hunting

Ihesiulo Grace 24 May 2017 0

Nigeria’s equities market appreciated on Tuesday as lead indices improved by 0.05 percent propelled by bargain hunting for better positioning on valuable stocks. Capital market observers attributed the day’s gains to a focus on recent positive development in the macroeconomic space, including relative stability in the foreign exchange market. The day’s trading

Capital Market

Heritage Bank, RIMAN partner on risk management

Ihesiulo Grace 24 May 2017 0

Heritage Bank Plc has entered into a strategic partnership with Risk Management Association of Nigeria (RIMAN) to promote global best practices in the implementation of risk management for safer and stronger financial institution. President of RIMAN, Mr. Jude Monye, disclosed this at the first Chief Risk Officer’s time-out/dinner organised by RIMAN, recently. Whilst

Capital Market

Capital market, key to driving export – Awolowo

Ihesiulo Grace 23 May 2017 0

Chief Executive Officer of NEPC, Dr Olusegun Awolowo said the nation’s bourse has a key role to play towards driving export from the nation’s manufacturing sector. Awolowo who visited the Nigerian Stock Exchange on Monday to sound the closing gong and present a Zero Oil Plan Proposal to capital market stakeholders said the present administration, […]