Business Capital Market

Nigeria’s capital importation grew by 216% to $8.4bn in Q1 2019 – NBS

Ihesiulo Grace 3 July 2019 0

Motolani Oseni The total value of capital importation into Nigeria in the first quarter of 2019 was estimated at $8.48 billion, representing an increase of 216.03per cent compared to Q4 2018 and 34.61 per cent increase compared to the first quarter of 2018, the latest data by the National

Business Capital Market

NSE suspends trading in shares of Conoil, 10 other companies

Ihesiulo Grace 3 July 2019 0

Temitope Adebayo The Nigerian Stock Exchange (NSE) on Tuesday suspended trading in the shares of 11 companies over delayed filing of accounts. NSE Head, Listings Regulation Department, Godstime Iwenekhai, stated this in a statement released to the newsmen in Lagos yesterday. Mr Iwenekhai said the affected companies were: Conoil, FTN Cocoa Processors, Goldlink Insurance,

Brands and Marketing Business Capital Market Insurance

Sunu Assurances boss lauds NAICOM capital base requirement for insurance sector

Ihesiulo Grace 2 July 2019 0

Motolani Oseni The Managing Director, Sunu Assurances Nigeria Plc, Mr Samuel Ogbodu, has commended the National Insurance Commission (NAICOM) for increasing the capital base of various categories of players in the industry. Ogbodu said that the proposal would not only help to consolidate the sector with the provision of more buoyant opportunities for large ticket […]

Agriculture Capital Market

Budget: N137.9bn allocation for agriculture in 2019 too low – NANTS

Ihesiulo Grace 4 March 2019 0

Mr Ken Ukaoha, the President, National Association of Nigerian Traders (NANTS) says the N137.9 billion budgeted for agricultural sector in 2019 is too low to achieve the ambitious agricultural policy targets. Ukaoha made this known in Abuja on Monday during validation analysis of the 2019 proposed budget for the agriculture sector and its contribution to […]

Capital Market Economy

Pension operators celebrate Multi-Fund Structure as it rings NSE Closing Gong

Ihesiulo Grace 24 July 2018 0

The Pension Funds Operators Association of Nigeria (PenOp) was recently honoured by the Nigerian Stock Exchange with the invitation to ring the Closing Gong on the Trading Floor on Tuesday, 17th July 2018. The two organisations who are among the strongest players in the Nigerian financial sector met to discuss partnership opportunities and ways in […]

Capital Market

Seplat proposes N9bn as dividend, returns to profit

Ihesiulo Grace 1 May 2018 0

Seplat Petroleum Development Company Plc directors have proposed the payment of an interim dividend of N9bn which represents NGN15 (US$D 0.05) per fully paid ordinary share, as against none proposed for 2017. The company listed on both the Nigerian Stock Exchange and London Stock Exchange, announced this on Monday when it released its un-audited first […]

Capital Market

ASI down 0.57% in April as investors gain N8.4bn on last trading day

Ihesiulo Grace 30 April 2018 0

April was a bearish investment month at the equities segment of the Nigerian Stock Exchange (NSE). The performance indicator of NSE, the All Share Index (ASI) which opened for the month of April at 41, 504.51 points declined by 0.57 per cent or 236.5 basis points to close the final trading day at 41,268.01 points. […]

Capital Market

Why stock market defied uptrend predictions relapses by 0.12%

Ihesiulo Grace 26 April 2018 0

As analyst revise their outlook on the Nigerian equities to “cautious trading”, investors demonstrated a slight aversion to certain blue chips on Wednesday, driving the Nigerian Stock Exchange All-Share Index (ASI) 0.12 percent lower to settle at 40,772.26 points. Accordingly, the Month-to-Date and Year-to-Date return moderated to -1.80 percent and 6.57 percent

Capital Market

UBA Group starts strong in 2018, grows profits to N26.6bn in Q1

Ihesiulo Grace 25 April 2018 0

United Bank for Africa Group (UBA) has released its unaudited first quarter results, showing significant growth across major income lines. Following a sterling performance in the 2017 financial year, UBA Group delivered another impressive 18 percent year-on-year growth in gross earnings in the first three months of 2018. Leveraging on strong growth in both interest […]

Capital Market

Nigerian Breweries directors assure shareholders on strategy to deliver good ROI

Ihesiulo Grace 25 April 2018 0

The Board of Directors of Nigerian Breweries Plc. has assured its shareholders that it “remains confident the Company has a clear strategy to deliver a good return on investment (ROI) for its shareholders”. The assurance of the Board was made in a statement, signed by Uaboi Agbebaku, Company Secretary/Legal Adviser, following the announcement of a […]

Capital Market

Global Earth Day, NSE signs MoU to ‘End plastic pollution’

Ihesiulo Grace 24 April 2018 0

In a bid to demonstrate the effort to ‘End Plastic Pollution’, the Nigerian Stock Exchange (NSE) has announced that it has signed a Memorandum of Understanding (MoU) with RecyclePoints Limited for the collection and recycling of waste materials generated at The Exchange’s offices. The initiative which is part of the Exchange’s Corporate Social Responsibility (CSR) […]

Capital Market

24 stocks decline as All Share Index falls 0.12%

Ihesiulo Grace 24 April 2018 0

A  decline in the share prices of 24 stocks listed on the Nigerian Stock Exchange (NSE) recorded on Monday, led to a dip in the All Share Index (ASI). The ASI closed 0.12 percent lower than its opening figures and closed at 40,763.93 points, bringing the year to date returns to 6.60 percent The Market […]

Capital Market

CMC Meeting: SEC, NSE, CSCS others considers e-IPOs for Nigeria

Ihesiulo Grace 23 April 2018 0

A committee comprising of the Securities and Exchange Commission (SEC), Nigeria Stock Exchange (NSE), Central Securities and Clearing System(CSCS), and six other organisations have been set up to work out the modalities involved in issuing Electronic Initial Public Offers (e-IPOs) in Nigeria’s financial markets. An e-IPO is an application based and browser based software

Capital Market

Shareholders laud Nigerian Breweries’ results, approve dividend payout

Ihesiulo Grace 23 April 2018 0

Shareholders of Nigerian Breweries Plc have lauded its 2017 financial performance and approved the N33 billion dividend pay-out proposed by the Board. The shareholders who spoke at the 72nd Annual General Meeting of the company held at the Muson Center, Onikan-Lagos on Friday noted that the company’s performance in spite of the very challenging operating […]

Capital Market

FMDQ admits pioneer federal government of Nigeria roads Sukuk

Ihesiulo Grace 15 April 2018 0

The Federal Government of Nigeria (FGN), through the ministry of finance and the Debt Management Office (DMO), again demonstrated its unrelenting commitment to the development of Nigeria’s infrastructure sectors via the Nigerian debt capital markets, by listing the first sovereign Sukuk in the Nigerian DCM, the N100.00 billion Federal Roads Sukuk Company 1 PLC 7-Year […]

Capital Market

Seplat refinances US$300m revolving credit facility

Ihesiulo Grace 18 March 2018 0

Seplat Petroleum Development Company Plc, has announced that it has successfully refinanced its existing US$300 million revolving credit facility due December 2018 with a new four year US$300 million revolving credit facility due June 2022 (the “RCF”). The company’s Chief Financial Officer, Mr. Roger Brown announced this in signed publication by the NSE noted that […]

Capital Market

Seplat announces pricing of $350m on 9.25% bond offering due 2023

Ihesiulo Grace 18 March 2018 0

Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange (NSE) and London Stock Exchange (LSE), on Tuesday, announced that it has priced its offering of $350 million in aggregate principal amount of 9.25 per cent senior notes due 2023. The Notes, Seplat revealed will […]

Capital Market

Oando extends closed period, bars insiders from transacting in own shares

Ihesiulo Grace 18 March 2018 0

Oando Nigeria plc has announced the extension of its closed period, until 24 hours following the release to the Nigerian Stock Exchange (NSE), its 2017 audited result Oando’s Chief Compliance Officer & Company Secretary, Ayotola Jagun in a signed statement said that the extension was in compliance with the NSE’s Rule Book and the Amendments […]

Capital Market

McNicholes proposes 3 kobo dividend as 2017 PAT declines by 34%

Ihesiulo Grace 18 March 2018 0

McNicholes Consolidated Plc has proposed a final dividend of 3 kobo for its shareholders whose names appear in the comp0ny’s register at the close of business on 19th March 2018. The dividend would be paid electronically subject to withholding tax, following the approval of shareholders at the annual general meeting (AGM) scheduled for 19th April […]

Capital Market

Diamond Bank partners EDC on women’s advancement

Ihesiulo Grace 18 March 2018 0

Diamond Bank Nigeria Plc has sustained its commitment for women’s advancement engendering economic development. This was further re-echoed in its partnership with the Enterprise Development Centre (EDC) of the Pan Atlantic University, Lagos in celebration of the international women’s day The bank, at the gathering of influential female thought leaders held at the