CAPITAL MARKET

The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021. According to a press statement on Thursday by Mr. Olufemi O. Soneye, the Corporation’s Chief Corporate Communications Officer,...

The Federal Government of Nigeria has successfully raised N1.092 trillion from six series of Sukuk, a Sharia-compliant financial instrument designed to attract ethical investment. The Director-General of the Debt Management Office (DMO) Ms. Patience Oniha disclosed this during the All Parties Meeting for the Series VII Sovereign Sukuk held in...

• proposes final dividend of N3.00 United Bank for Africa Plc (UBA) has released its audited financial statements for the year ended December 31, 2024, reporting a surge of 26.14% to N766.5 billion in post-tax profit for the group, from N607.6 billion in 2023. The bank also made a pre-tax...

• pledges stronger investor protection The Securities and Exchange Commission (SEC) has pledged to ensure that only individuals who meet rigorous ethical and professional standards are allowed to operate in Nigeria’s capital market. This decision the Commission said is aimed at safeguarding investors and strengthening market confidence. A statement from...

The bears continued its dominance on the Nigerian bourse last week as the NGX All-Share Index and Market Capitalization depreciated by 0.94 per cent and 0.80 per cent to close the week at 104,962.96 and N65.820 trillion respectively. Similarly, all other indices finished lower with the exception of NGX Consumer...

Nigerian Breweries Plc has acquired the remaining 20 percent shareholding in Distell Wines and Spirits Nigeria Limited (DWSN)), securing full ownership of the company. This development follows the brewing giant’s earlier 80 percent acquisition of Distell’s minority shares last year. The company made this known in a statement released on...

The Securities and Exchange Commission (SEC) has announced the cancellation of the registration of Mainland Trust Limited and the suspension of Centurion Registrars. The Commission in separate circulars issued at the weekend said the sanctions were imposed following the failure of both firms to comply with regulatory directives. The circular...

PZ Cussons Nigeria Plc announces that the Company’s minority shareholders have voted not to approve the conversion of US$34,264,544 (equivalent to ₦51,795,312,646.72) of the outstanding intercompany loan amount owed by the Company to PZ Cussons (Holdings) Limited (“PZCH”) into equity. The decision was made at PZCN’s Extraordinary General Meeting (EGM)...

The NGX All-Share Index and Market Capitalization depreciated by 1.19% and 0.71% to close the week at 106,538.60 and N66.717 trillion respectively. Similarly, all other indices finished lower with the exception of NGX AseM and NGX Commodity which appreciated by 0.04% and 0.19% respectively. A total turnover of 1.818 billion...

United Capital Plc (UCAP) has experienced a remarkable seven-year growth trajectory, culminating in an surge in 2024. The company's Profit after Tax (PAT) more than doubled, jumping from N11.42 billion in 2023 to N24.10 billion in 2024, representing a substantial 111.03 per cent increase. Building on a decade of consistent...