Capital Market

NSE Lists ARM Investment Managers Limited Money market Fund

Ihesiulo Grace 1 December 2016 0

The Nigerian Stock Exchange has listed by introduction 13.3 million units of ARM Money Market Fund. ARM which listed specifically 13,305,279,997 Units of its Money Market Fund at N1.00 each explained that The ARM Money Market Fund (MMF) is an open ended fund that provides financial help and a

Capital Market

Investors in Access, GTB, UBA gain N155.4 billion in 11 months

Ihesiulo Grace 30 November 2016 0

Amidst dwindling share prices in a falling equities market, owners of shares in Access Bank Plc, Guaranty Trust Bank and United Bank for Africa (UBA) Plc can smile to the bank with a total gain of N155.4 billion in eleven months of trading on the Nigerian Stock Exchange (NSE). Appreciation of investment in these financial […]

Capital Market

NSE CEO becomes ASEA President for Second term

Ihesiulo Grace 30 November 2016 0

The Chief Executive Officer of The Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema, OON, has been re-elected President of the African Securities Exchanges Association(ASEA) for another two-year term.   This decision was reached at the Association’s 20th Annual General Meeting (AGM) which was attended by sixteen Member Exchanges and two Associate Members on

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 […]

Business Capital Market Capital Market

79 percent of ETI preference shareholders meet conversion deadline

Ihesiulo Grace 29 November 2016 0

Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has said that 79 percent of its preference shareholders were able to meet the deadline of October 31st to indicate their intent of converting to ordinary shareholding According to a statement from the company, out of an outstanding of 1,031,515,911 preference shares, as at the end […]

Business Capital Market Capital Market

Equities Market kicks off week with 40 percent volume growth

Ihesiulo Grace 29 November 2016 0

The volume of shares traded on the Nigerian Stock Exchange (NSE) appreciated by 40.4 percent to settle at 202.4 million units, as the market opened the week with further price losses yesterday. The shares traded in 2,558 deals were valued at N1.616 billion compared to 144.2 million units valued at N2.143 billion and exchanged in […]

Capital Market

E-dividend scheme reduces unclaimed dividend by 33 percent – SEC

Ihesiulo Grace 28 November 2016 0

The Director General of the Securities and Exchange Commission (SEC) Mr. Mounir Gwarzo, has said registrars have been able to pay out N29.3 billion of the N90 billion of unclaimed dividends recorded at the beginning of the year, through the e-dividend scheme. The SEC DG’s claims was corroborated by Head, Vertical Markets Group, Nigeria Inter-Bank […]

Capital Market Capital Market

FCMB grows profit 600 percent in Q3

Ihesiulo Grace 28 November 2016 0

FCMB Group has reported a profit after tax (PAT) of N12.98 billion for the nine month period ended 30 September 2016, representing an increase of 596 percent from N1.87 billion recorded in the corresponding period of 2015. The group which comprises First City Monument Bank (FCMB), FCMB Capital Markets, CSL Stockbrokers and CSL Trustees, attributed […]

Capital Market Capital Market

Equities market ends week with marginal loss

Ihesiulo Grace 27 November 2016 0

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalization for the sixth week in a row declined to close the week at 25,333.39 and N8.721 trillion respectively after a depreciation of 0.80 percent. Sector indices also finished lower last week with the exception of the Banking and the Consumer Goods Indices that appreciated […]

Capital Market

NSE Oil Index crashes 2.1 percent as higher oil prices boost equities worldwide

Ihesiulo Grace 23 November 2016 0

The Nigerian Stock Exchange’s Oil and Gas Index at the end of yesterday’s performance recorded a significant decline of over 2 percent amidst rising values recorded in counterparts across the globe, on account of profit taking in Total Nigeria that dropped 5.00 percent and Forte Oil that lost 9.74 percent. Specifically, European and Asian stocks […]

Capital Market

Weak Macroeconomic data, high discount rate drags equities market further

Ihesiulo Grace 22 November 2016 0

Depreciation recorded in the equities market continued for the eighth day running for the eighth day running yesterday, as the All Share Index (ASI) lost 0.15 percent more to close at 25,461.34 points. Market capitalization declined N13 billion to settle at N8.765 trillion as the year-todate losses increased to -11.11 percent. According to market analysts, […]

Capital Market

FMDQ lists N7.96 billion Sterling Investment Management SPV PLC Bond

Ihesiulo Grace 22 November 2016 0

FMDQ OTC Securities Exchange has listed the Sterling Investment Management SPV PLC N7.965 billion short- medium term bond. According to a statement from Sterling’s management, the bond which is in series 1, 7-Year at 16.50 percent Fixed Rate is part of a N65 billion Debt Issuance Programme. Sponsor of the bond on FMDQ, Mr. Niyi […]

Capital Market Education

SEC, NERDC introduce Capital Market studies in schools

Ihesiulo Grace 22 November 2016 0

The Securities and Exchange Commission (SEC) plans to introduce capital market education in school syllabus soon. The introduction was strengthened with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC) recently. The MoU, signed at the Commission’s head office in Abuja, recently will enhance the

Capital Market

ASEA, CISI collaborate for common certification, professionalism

Ihesiulo Grace 17 November 2016 0

The African Securities Exchanges Association (ASEA) and the Chartered Institute for Securities & Investment (CISI) have signed a Memorandum of Understanding (MoU) to provide an effective framework to develop a common certification programme across the 26 ASEA Member Exchanges. The aim of the partnership is to promote professionalism and develop channels for capacity

Capital Market

NSE Suspends Trading of Ikeja Hotel Shares

Ihesiulo Grace 14 November 2016 0

The Nigerian Stock Exchange (NSE) has suspended the trading of Ikeja Hotel Plc shares in a bid to safeguard the investments of its shareholders. This is coming on the heels of continued dispute between the major shareholders which has negatively impacted on the Company’s governance structure. According to a report obtained by Daily Times from […]

Business Capital Market

Sterling Bank strengthens Core Business, improves Asset Quality in Q3

Ihesiulo Grace 28 October 2016 0

Sterling Bank Plc continued to build on the efficiency, quality and profitability of its core banking business as the latest earnings report released at the weekend showed considerable improvements in key underlying fundamentals of the commercial bank. The nine-month report for the third quarter ended September 30, 2016 released at the Nigerian Stock Exchange (NSE) […]

Business Capital Market

The Initiates Plc list shares on NSE

Ihesiulo Grace 26 October 2016 0

…trade 1.1 million units at N0.89 per share   Efforts by The Nigerian Stock Exchange (NSE) to encourage indigenous firms to list their shares on its market has been bolstered with the listing 889,981,552 ordinary shares of The Initiatives Plc ( TIP) of 50 kobo each. The shares priced at N0.85, were listed by Introduction […]