Capital Market

FCMB yet to deliver Q3 2017 result barely 40 days to Q1 2018

Ihesiulo Grace 21 November 2017 0

Barely about four weeks to the end of the 2017 financial year, the FCMB groups was yet to deliver its 2017 third quarter 2017 unaudited financial statement for the period ended 30th September, 2017. Daily Times Nigeria recalls that the quoted companies on the Exchange are required to file their

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Unilever, Tranex supplementary equities’ shares to dilute price

Ihesiulo Grace 20 November 2017 0

Unsilver Nigeria Plc and Trans nationwide Express (Trantex) Plc during the week ended, Friday, 17th November, 2017, listed supplementary shares on the Nigerian Stock Exchange (NSE’s) official list, a development experts say, will further dilute pricing of their shares. The NSE informed dealing members of the development on Friday that 1,961,709,167 ordinary shares of

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CSCS fetes Adeeko, Nwosu for laudable service

Ihesiulo Grace 20 November 2017 0

The Nigerian share depository, the Central Securities Clearing Systems (CSCS) Plc recently rolled out drums to celebrate their former executives who made immense contributions to the organization and the development of the nation’s capital market. CSCS, sub of the Nigerian Stock Exchange (NSE) in Lagos, celebrated the duo of Bola Adeeko and Obinna Nwosu for […]

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Stock market reverses gains as MSCI reshuffles equities in frontier indexes

Ihesiulo Grace 20 November 2017 0

The Nigerian equities market reversed the gains recorded previous week, with the ASI shedding 1.12 per cent to 36,703.58 points for the week ended 20th November, 2017. Losses in Consumer Goods (-2.89% w/w), Insurance (-1.98% w/w), Banking (-1.29% w/w) and Industrial Goods (-1.03% w/w) sectors more than outweighed the snippet of gains in the Oil […]

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Afreximbank raises $150m in first-ever Samurai syndicated loan facility

Ihesiulo Grace 20 November 2017 0

The African Export-Import Bank (Afreximbank) has announced the successful completion of its first ever Samurai Syndicated Term Loan Facility. Through the facility, the bank was able to raise the equivalent of US$150 million, comprised of two tranches of (Japanese Yen) JPY 6.2 bnand US$100m. In a statement made available to Daily Times Nigeria by Afreximbank, […]

Capital Market

Stock market sustains growth with 0.34% in ASI

Ihesiulo Grace 9 November 2017 0

Nigerian equities market closed in a positive territory on Wednesday, as the All-Share Index added 0.34 per cent, sustaining the growth recorded in previous session. The Nigerian Stock Exchange All Share Index added 0.34 per cent or 125.4 basis points to close at 37,138.97 points while the Market capitalisation inched N43.4 billion higher to settle […]

Capital Market

Lafarge Africa commits to Q4 completion period of capital raising

Ihesiulo Grace 8 November 2017 0

Lafarge Africa Plc, indicated commitment to the timetable for its rights issues planned to be completed by the end of the fourth quarter (Q4) 2017, as it has submitted application on the proposed rights issues to the Nigerian Stock Exchange, (NSE). The NSE, in its weekly market report for the week ended Friday, 3rd November, […]

Capital Market

#2018Budget to face weak shortfall

Ihesiulo Grace 8 November 2017 0

Experts have said that the country’s budget implementation shortfall for the prevailing year may not differ from what will be seen in the coming year; hence government appeared not to have found a way out of it. SBM Intelligence report released recently and made available to Daily Times Nigeria pointed “By now, it should be […]

Capital Market

Stock market rebounds 0.22%

Ihesiulo Grace 8 November 2017 0

. Diamond Bank tops gainers, top traded Equities trading activities rebounded by 0.22 per cent on Tuesday, as the All-Share Index added 82.7 points to cross the 37,000 mark, a feat last achieved in August 2017. The ASI closed at 37,013.57 points on the day Nigeria’s President, Muhammadu Buhari presented an N8.6 trillion budget for […]

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Harvestplus outlines dangers of establishing high scale farm

Ihesiulo Grace 6 November 2017 0

…hosts Enugu food fair Nov 28-30 The risk of establishing high scale farming business in Nigeria has been alluded to as one of the reasons that retard investments farming in the country. HarvestPlus Nigeria country manager, Dr. Paul Ilona disclosed this in Lagos during the company’s media briefing in Lagos on Monday, on its forthcoming […]

Capital Market

Lafarge Africa: Shareholders approve Atlas Cement, UniCem merger

Ihesiulo Grace 6 November 2017 0

In a bid to consolidate and enhance market share and propel further growth and higher returns to all stakeholders, shareholders of Lafarge Africa Plc on Monday 6th November, 2017, endorsed approved its merger with Atlas Cement and United Cement Company (UniCem). Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company is a subsidiary of […]

Capital Market

Diamond Bank: Why we are selling African subsidiaries

Ihesiulo Grace 6 November 2017 0

Diamond Bank Plc has agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal to Manzi Finances S.A., a Cote d’Ivoire-based financial services holding company. Regulatory approvals have been obtained in all jurisdictions for the transaction, which is anticipated to close before December 31, 2017. The bank which is one of Nigeria’s fastest […]

Capital Market

Overnight, OBB rates soar as tight liquidity further weakens banks

Ihesiulo Grace 6 November 2017 0

. Overnight, OBB rates closes 36.33%, 39.42% The Overnight (ON) and Open Buy Back (OBB) rates surged by 3000bps and 3242bps to close Friday at 36.33 per cent and 39.42 per cent respectively, as market liquidity remained tight, even as no open market operations (OMO) was auctioned on Friday. Investment One report for the week, […]

Capital Market

Lafarge Africa commits to Q4 completion period of capital raising

Ihesiulo Grace 6 November 2017 0

Lafarge Africa Plc, indicated commitment to the timetable for its rights issues planned to be completed by the end of the fourth quarter (Q4) 2017, as it has submitted application on the proposed rights issues to the Nigerian Stock Exchange (NSE). the NSE in its weekly market report for the week ended Friday 3rd November […]

Capital Market

Erratic policies bane of companies’ weak results…stakeholder

Ihesiulo Grace 6 November 2017 0

Array of weak third quarter 2017 results released by companies, have been attributed to weak economy and uncertain policies that could not be relied upon for long term business decisions. Pointer to this emerged as some of the results, Diamond Bank plc, which showed Q3 Profit after tax down declined by N2.3bn, None interest income […]

Capital Market

Ghana real estate fair debuts in Nigeria December 09

Ihesiulo Grace 6 November 2017 0

All is now set for first ever Ghana Property Show in Nigeria , with a delegation of over 15 leading Ghanaian real estate companies billed to showcase participate , and showcase high quality Ghanaian housing expertise. Expected at the fair scheduled to hold on 9th December ,2017, at the Federal Palace Hotel , V.I Lagos, […]

Capital Market

Agribusiness: NAAJ 2017 conference brings Africa to Lagos

Ihesiulo Grace 3 November 2017 0

….. Confers awards on Dangote, T.A Orji, Deputy Speaker, others The National Association of Agricultural Journalists (NAAJ) will host other African agricultural journalists in its 2017 annual conference on November 16th, 2017. The event would also be used to inaugurate Pan African Journalists (PAJ) as part of the event, which would also be used to […]

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Oando records N7.1bn PAT in Q3 2017

Ihesiulo Grace 3 November 2017 0

Oando Plc has announced its unaudited results for the nine months period ended 30 September, 2017, with some signs of improvement when compared with the same period in 2016. Nigeria’s leading indigenous energy group, currently in a face-off with the Securities and Exchange Commission (SEC), posted impressive performances in key indices as investors remain restive […]

Capital Market

CBN: Citibank raising industry’s bar

Ihesiulo Grace 3 November 2017 0

The growth in Nigeria’s financial sector has been lauded, as Citibank Nigeria has once again been commended for boosting the industry’s growth. The commendation was given to Citi by the Nigeria’s apex bank during the recently concluded Cash & Trade Seminar for Banking Industry professional hosted by Citibank Nigeria. Speaking at the seminar, attended by […]

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Stanbic IBTC ETF supports 20 children with prosthetic limbs

Ihesiulo Grace 3 November 2017 0

Stanbic IBTC Plc, has launched education empowerment for 20 children through the establishment of educational trust fund. The bank, a member of Standard Bank Group, through the empowerment initiative provided 20 children with limb challenges, prosthetic limbs and education trust funds under its corporate and investment initiative, ‘Together4 A Limb’. The provisions, the