MARKETS

Growing investor confidence and strong market participation have continue to boost optimism about Fidelity Bank’s stock as the bank experienced a remarkable 20% surge on the Nigerian stock market, with its share price surpassing the N13 mark by the third week of September. This upward trend follows the bank’s combined...

The Vice President, Kashim Shettima, has said that the Nigerian capital market plays a crucial role in the realization of the target of the President Bola Ahmed Tinubu administration to create a trillion-dollar economy. The Vice President stated this on Tuesday when he received at the Presidential Villa, executive members...

United Capital Group, a leading financial services group in Nigeria, has successfully spearheaded the issuance of the inaugural Domestic FGN US Dollar Bond, raising over US$900 million. This groundbreaking transaction marks Nigeria’s first-ever domestic US dollar-denominated bond and demonstrates United Capital’s expertise in the capital markets. The bond, which offers...

    sets 30-day compliance deadline   All Payment Service Providers have been mandated by the Central Bank of Nigeria (CBN) to channel all transactions from Point of Sales (PoS) terminals, whether at physical or electronic merchant and agent locations, through a CBN-approved Payment Terminal Service Aggregator. CBN also issued...

  The Central Bank of Nigeria (CBN) has issued a 30-day ultimatum to Payment Service Providers (PSPs) in the country to adhere to the revised routing instructions for Point of Sale (PoS) transactions. This is aimed at strengthening the monitoring of electronic transactions in the country. The directive was issued...

Unity Bank Plc has projected gross earnings of N27 billion and a Profit After Tax of N4 billion in Q4, 2024, in its latest earnings forecast released to the Nigerian Exchange Group. Although the projected gross earnings represent a marginal increase from the N26 billion projected for Q3 2024, the...

  Nigeria’s Securities and Exchange Commission (SEC) has officially recognised Quidax and Busha as legally sanctioned cryptocurrency exchanges. This milestone represents a significant shift in the Nigerian crypto landscape, marking a new era of regulation and legitimacy for the industry. The SEC’s approval of Quidax and Busha is more than...

  The Central Bank of Nigeria (CBN) has lifted the suspension on banks borrowing from its Standing Lending Facility (SLF) and set the lending rate at 31.75%, following decisions made at the 296th Monetary Policy Committee (MPC) meeting. In a statement dated August 26, 2024, Omolara Duke, the Director of...

Nigerian Exchange Limited (NGX) and the University of Maiduguri (UNIMAID) have signed a Memorandum of Understanding (MoU) to bridge the gap between academic research and industry practice. This strategic collaboration aims to foster innovation, enrich learning, and promote sustainable development within the capital market sector. The MoU signing ceremony, attended...

  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...