CAPITAL MARKET

  The Securities and Exchange Commission (SEC) approves Nigerian Breweries’ N600bn Rights Issue as largest brewer struggles on FX debt The application for Nigerian Breweries Plc Rights Issue of 22,607,491,232 Ordinary Shares of 50 kobo each at N26.50 per share has been approved by the SEC, the apex regulator of...

  Despite the challenging environment following the Central Bank of Nigeria's intervention in January 2024, which led to heightened customer concerns, Union Bank of Nigeria has reported a profit before tax of N79.8 billion on gross earnings of N333 billion during the half year ended June 30, 2024 compared with...

The Chief Executive Officer of NGX Regulation Limited (“NGX RegCo”), Mr. Olufemi Shobanjo, has commended the Financial Reporting Council of Nigeria (FRCN) for its pioneering role in advancing sustainability reporting standards across the African continent. Speaking at the Regulatory Roundtable for Sustainability Reporting in Nigeria, hosted by FRCN recently in...

  targets 2mbpd crude oil production by Dec 2024 The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit...

The Securities and Exchange Commission (SEC) has extended Access Holdings’ N351 billion capital raise to August 23. In a statement released on Wednesday and signed by Sunday Ekwochi, the company’s secretary, Access Holdings announced that the original deadline of August 14 has been extended to August 23 following approval from...

United Capital Group, a leading pan-African investment banking and financial services institution, has successfully led the issuance of Sierra Leone’s first local currency corporate bond, valued at SLE32 million (approximately US$1.4 million). This historic milestone signifies a transformative moment for Sierra Leone’s capital market. Acting as the Financial Adviser, United...

The Debt Management Office (DMO) has offered two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to a statement by the DMO on Monday in Abuja, the first offer is a two-year FGN savings bond due on Aug. 21, 2026, at interest rate of...

In alignment with President Bola Tinubu’s Renewed Hope Agenda, the Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama, is set to outline the Commission’s vision for the Nigerian capital market at the Second Capital Market Committee Meeting. The meeting which will hold at Oriental Hotel, Lagos on...

  Investors are literally scrambling for shares of Fidelity Bank Plc as the leading commercial bank’s capital raising continues to gather momentum among all categories of investors. Investors’ appetite for Fidelity Bank is shown in massive subscriptions to its ongoing rights and public offers and voluminous trading at the stock...

  Cornerstone Group has announced insurance revenue of over N30.6billion in 2023 as against N22.2billion recorded in 2022 business year. This represents 38 per cent growth in its topline. The company also announced to shareholders, a dividend at N0.16kobo per Ordinary Share of 50kobo per share amounting to N2.9billion gross...