MARKETS

  The Central Bank of Nigeria has issued a directive to all banks on the need to strictly comply with recent foreign exchange policy reforms. In a letter signed by the Acting Director, Banking Supervision, Dr. Adetona Adedeji on Thursday addressed to banking institutions, the CBN stressed the need for...

The Federal Government of Nigeria plans to raise a total of $1 billion in external borrowing through the issuance of Eurobonds. Ahead of the Eurobond issuance, the Federal Government has contracted Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Inc., to guide it and ensure the bonds are...

  Nigerian Exchange Group Plc (NGX Group or the Company) has announced its full-year Audited Financial Statements for the year ended 31 December 2023, with a profit after tax of N5.2 billion and a declaration of a final dividend of N1.5 billion. The Group experienced a surge in gross earnings,...

Transcorp Power has listed its 7.5 billion ordinary shares of 50 kobo each at N240 per share by introduction on Nigerian Exchange Limited (NGX). According to a statement issued by the company, the power firm will take market stakeholders through its Facts Behind the Listing, after performing the Closing Gong...

The Minister of State for Youth Development, Mr. Ayodele Olawande, has praised the Nigeria Deposit Insurance Corporation (NDIC) for its significant achievements in safeguarding depositors from the adverse impacts of bank failures. He commended NDIC for consistently supporting the Central Bank of Nigeria (CBN) in overseeing the banking sector and...

Food and beverage company,  Nestlé Nigeria Plc has posted a loss before income tax of N104 billion for the year 2023 compared to a profit before income tax of N71 billion for 2022. In a 2023 financial statement of the company published on the Nigerian Exchange Group website on February...

  The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased interest rate to 22.75 percent. The decision to hike interest rate was taken by the MPC in its bid to combat inflation and stabilize the foreign exchange market. The CBN led by Yemi Cardoso, as...

The Central Bank of Nigeria (CBN) has introduced a revised regulatory framework for Bureau De Change (BDC) operations to address excesses and enhance transparency in the foreign exchange market. As part of ongoing reforms, the CBN now mandates foreign exchange sellers to BDCs transacting $10,000 and above to declare their...

  Market Cap hits N1.022tn emerges best performing banking stock in 2023 Africa’s Global Bank, United Bank for Africa (UBA) Plc, on Monday joined the elite group of companies with market capitalisation of over N1tn just as its share price value hits N29.90 per share. At the close of trading...

Nigerian Exchange Limited (“NGX or “The Exchange”), in collaboration with the National Pension Commission (PenCom) launched the NGX Pension Broad Index (NGXPENBRD) on 15 June 2023, which provides a broader benchmark for equities investment by the pension industry. The NGX Pension Broad Index is designed to track the performance of...