Capital Market

PRESCO Q4 2016/Q1 2017 results trigger rating upgrade

Ihesiulo Grace 23 May 2017 0

Recent results released by Presco Nigeria Plc for the fourth quarter 2016 and first quarter 2017 have generated positive hearsay for the company, which continues to record increased bid in the equities market. FBNQuest recent report said that the company, operating under the agriculture sector

Capital Market

Profit taking shaves off N12bn from Market Cap

Ihesiulo Grace 23 May 2017 0

The market indicators of the Nigerian Stock Exchange (NSE) closed trading on Monday with a decline N12 billion in Market Capitalisation as investors embarked on profit taking following four previous profitable sessions. The market capitalization which opened at N9.718 trillion decreased by N12 billion or 0.12 percent to close at N9.706 trillion. Also, the All-Share […]

Capital Market

Analysts forecast bullish week for financial services sector

Ihesiulo Grace 23 May 2017 0

A cross section of capital market analysts have predicted sustained bullish run for financial sector stocks, mainly the banking subsector sector and by extension, the insurance subsector sector. Some of the analysts’ predictions for the week maintained a bullish run for quality financial stocks, most of which are trading low based on mark down following […]

Capital Market

Stanbic IBTC to enlist informal sector in pension scheme

Ihesiulo Grace 19 May 2017 0

Stanbic IBTC Pension Managers Limited, has outlined four vital measures needed to bring the country’s huge informal sector into the formal pension system. These are awareness and collaboration with key associations and unions; tax incentives and guarantee; seamless registration and service delivery. According to the Chief Executive, Stanbic IBTC Pension Managers Limited,

Capital Market

FMDQ approves Stanbic IBTC ₦20.00bn CP programme

Ihesiulo Grace 19 May 2017 0

The FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) Board Listings, Markets and Technology Committee, has approved the registration of the Stanbic IBTC Holdings PLC ₦20.00billion Commercial Papers (CP) Programme on its platform. The company noted that while the paper is yet to be issued, eventually, issues from the Programme are to be quoted […]

Capital Market

Medview reports N691m profit in Q1 2017

Ihesiulo Grace 3 May 2017 0

From a loss after tax position of over N200million, Medview Airline Plc has recorded a return to profit in its first quarter results (q1) published with the Nigerian Stock Exchange on Tuesday. The airline reported a profit after tax of N691 million up 444 percent from a loss of N200.4 million recorded in the same […]

Capital Market

Koko lauds Alade for exemplary leadership as Chairman FMDQ OTC

Ihesiulo Grace 3 May 2017 0

The Managing Director/CEO, FMDQ OTC Securities Exchange, Mr. Bola Onadele. Koko has commended the outgoing chairman of the Exchange, Dr. Sarah Alade, for her immense contributions towards positioning the OTC Exchange to global reckoning. Board of the OTC Securities Exchange recently announced retirement of the second Chairman of the Board of Directors, Dr. (Mrs.) Sarah

Capital Market

Our focus delivered strong results in 2016 – Maccido

Ihesiulo Grace 3 May 2017 0

The Chairman of FBN Merchant Bank, Mallam Bello Maccido, has attributed the Bank’s successful 2016 results to focus, amidst a tough operating environment witnessed during the year Mallam Maccido who noted this, at the bank’s 2nd Annual General Meeting held recently in Lagos said that despite the challenging macroeconomic climate in 2016, FBN Merchant Bank […]

Capital Market

How fraudsters connive with registrars, brokers to sell people’s shares, by expert

Ihesiulo Grace 3 May 2017 0

The persisting fraud in the Nigerian capital market, may take long to abate hence notable market criminal acts are usually in connivance with the registrars and brokers and that such crimes usually takes time to detect. Revealing this to Daily Times in Lagos recently, a stockbroker who preferred anonymity, said that while most shareholders fail […]

Capital Market

DMO raises N535bn (US$1.74bn) for FG in months

Ihesiulo Grace 23 March 2017 0

The Debt Management Office (DMO) has raised a total of N535 billion for the Federal Government in the last 90 days. This followed the successful March 2017 N130 billion bond auction, which recorded a success of 165 per cent over subscription rate, demonstrating the appetite of investors for earnings and fixed income investments. While the […]

Business Capital Market

Capital market has established structures to check volatility … ASHON

Ihesiulo Grace 18 January 2017 0

The depression suffered by the Nigerian capital market in 2016 has been described as a passing phase that is ushering in better opportunities and earnings for issuers and investors. This is because the Nigerian Stock Exchange (NSE) has built structures to avoid a repeat of losses suffered by investors in the market last year. This […]

Business Capital Market

SEC relocates Inspectorate, Registration to Lagos

Ihesiulo Grace 18 January 2017 0

The Securities and Exchange Commission (SEC) has drawn the attention of all capital market operators to some reorganization exercise recently approved by the Commission. A SEC statement yesterday said it has embarked on the relocation of the Inspectorate Division to the Commission’s Lagos Zonal Office (LZO) in order to ensure a successful implementation of Risk-Based […]

Business Capital Market

Stock performance indices decline as volume expands

Ihesiulo Grace 18 January 2017 0

Equities trading on the Nigerian Stock Exchange (NSE) yesterday reversed the growth recorded in two prior trading sessions to close negative, with the All-Share Index (ASI) and the market capitalization declining. The ASI closed at 26,278.20, down 0.36 percent against the previous session’s 26,373.83 when the ASI grew by 0.18 percent. Market Capitalization likewise fell

Business Capital Market

Negative returns attend first trading week

Ihesiulo Grace 8 January 2017 0

..As NSE Premium index, Industrial goods, consumer goods, lead The hope of reduction in pressure confronting the vibrancy of the Nigerian market appeared to be dimming as all the sectors and indices closed the first week of trading in the New Year on a negative note. Even as investors appeared to have commenced expanding their […]

Capital Market

FG affirms SEC as sole approving authority for securities issuance

Ihesiulo Grace 30 November 2016 0

The director-general of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, has reiterated SEC’s obligation as the sole authority for approving securities issuance for capital raise in the nation. While noting that SEC was a government agency mandated to regulate and develop the Nigerian capital market, he regretted that it had been relegated for […]

Capital Market

Stanbic IBTC public offerings delay elicits stakeholders concern

Ihesiulo Grace 30 November 2016 0

…As 2015 result, Q1, Q2, Q3 filings lag 30 days to 2017   Stanbic IBTC’s Holdings (SIBTCH) regulatory approvals for the 2016 financial year continued to be delayed, even as the holding company continues to wage legal battle with the Financial Reporting Council (FRC) of Nigeria over regulatory breaches. Meanwhile, cross section of retail shareholders […]

Capital Market Capital Market

Investors move 511.6m shares worth N1.7b

Ihesiulo Grace 29 November 2016 0

Equities market investors traded a total of 511.6 million shares at the end of Tuesday’s trading session. The shares traded in 2,342 deals were worth N1.695 billion and represented a 153 percent growth from 202.4 million shares worth N1.616 billion and exchanged in 2,558 deals on Monday. However, market performance continued in a negative territory as the All […]

Business Capital Market Capital Market

14 year old Ifeoluwa Abiodun Emerges 2016 Winner of NSE Essay Competition

Ihesiulo Grace 29 November 2016 0

Miss Ifeoluwa Toluwanimi Abiodun, a 14 year old student of Babington Macauley Junior Seminary, Ikorodu, Lagos State, has emerged the winner of the 2016 edition of the NSE Essay Competition for Senior Secondary Schools students in Nigeria. Ifeoluwa clinched the first position at the award ceremony, held at the Civic Centre on Thursday, November 24, […]

Business Capital Market Capital Market

FMDQ launches Debt Capital Market Development Project

Ihesiulo Grace 29 November 2016 0

FMDQ OTC Securities Exchange (FMDQ) has launched the Debt Capital Market Development (DCMD) Project to implement the recommendations drawn from the Debt Capital Market (DCM) workshop in October, according to an official statement. The launching took place last week during the Securities and Exchange Commission (SEC) Third Quarter Capital Market Committee (CMC). “The DCM

Business Capital Market Capital Market

Roads Nigeria loses N227.8 million in 2015

Ihesiulo Grace 29 November 2016 0

Construction company, Roads Nigeria, has released its audited financial statements for the financial period ended 31st March 2015, showing a loss after tax of N227.8 million. The loss represents a 266.3 percent decline from a profit after tax of N137 million recorded in 2014. The company’s revenue dropped 42 percent to N1.9 billion from N3.3 billion […]