MARKETS

    The Nigerian capital market was euphoric at the close of trading on Tuesday as the market hit a 15-year high. The All-Share Index (ASI) of Nigerian Exchange Limited (NGX) rose by 0.51% to 66,490.34 points from 66,151.38 the previous day, surpassing the highest value of 66,371.20 recorded on...

For the second year running, leading financial institution, Fidelity Bank Plc, has emerged the company with the highest earnings per share on the Nigerian Exchange Limited (NGX) based on half year financial figures. According to a report by BusinessDay, Fidelity Bank, Seplat Energy, Total Energies, Okomu oil, Presco, Dangote Cement,...

  The Chief Executive Officer of Nigerian Exchange Ltd., Temi Popoola, has disclosed that the nation’s capital market was considering a dollar-denominated bond listings. Popoola who disclosed to Bloomberg said the dollar-denominated bond listings and dollar-denominated stock listings have been proposed to the Nigerian government and the proposal has received...

Global financial service firm JP Morgan has estimated Nigeria’s FX Reserve to be around $3.7 billion much lower than reported figures of about $30 billion. The bank disclosed this in its latest report on Nigeria titled “Nigeria: Reform pause rather than fatigue”. The bank noted that the lower-than-reported FX reserve...

The Securities and Exchange Commission (SEC) is set to hold the second Capital Market Committee (CMC) meeting in 2023. The meeting is scheduled to hold virtually through Zoom with key stakeholders in the capital market on August 24, while the usual interface with the press, on the outcome of the...

  The Nigerian financial services sector played a significant role in boosting the trade volume and value of equities on the floor of Nigerian Exchange Limited (NGX) despite global and local equities market challenges. Nigerian stocks had closed in the negative territory following profit-taking activities on all trading sessions except...

  The Central Bank of Nigeria (CBN) has intensified efforts to battle currency speculators and has brought back Bureau De Change operators (BDCs), with a new guideline to checkmate their operators. The nation’s currency is currently facing serious problems since it was floated against the dollar, causing problems in the...

The Central Bank of Nigeria (CBN) has launched a new portal called the Foreign Exchange (FX) Price Verification System (PVS), designed for importers to have access to forex. The bank made this announcement on Thursday night from their Trade and Exchange Department. “Following the successful conduct of the pilot run...

  The Federal High Court sitting in Lagos has granted an interim order restraining FBN Holdings Plc from holding its Annual General Meeting (AGM) fixed for Tuesday, August 15, 2023, pending the hearing and determination of the motion on notice filed before it by three aggrieved shareholders of First Bank....

  Nigerian Exchange Limited (NGX), along with the Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON), have demonstrated their willingness to collaborate with the Federal Government through the Ministry of Finance Incorporated (MOFI) in facilitating market development and listings. This was disclosed during...