MARKETS

Amid the bounce of a new administration and raft of changes in government policies, total foreign transactions performed by investors on the floor of the Nigerian Exchange Limited (NGX) grew to N145.08 billion in the first six months (H1) of 2023. This is according to the recently released data on...

Nigerian Exchange Limited in collaboration with the National Pension Commission (PenCom) has announced the launch of the NGX Pension Broad Index (NGXPENBRD). The NGX Pension Broad Index tracks the performance of equity securities that meet the profitability and dividend payment criteria, with no limit or cap on the number of...

  Following a bullish run in the stock market in recent months, the Nigerian Exchange Limited on Friday announced the reclassification of Fidelity Bank Plc. from small price stock to medium price stock. A statement by the NGX said the reclassification became necessary because Fidelity Bank Plc. shares have been...

The NGX All-Share Index and Market Capitalization appreciated by 3.89% to close the week at 65,003.39 and N35.395 trillion respectively. Similarly, all other indices finished higher with the exception of NGX ASeM which depreciated by 0.07% Seventy-three (73) equities appreciated in price during the week higher than 29 equities in...

  The Nigerian stock market closed the week with a strong performance, as equities investors  gained N584 billion. Even as the Market Capitalization grew by N584 billion on Friday, the market All-Share Index recorded a 1.68 per cent gain to close at 65,003.39 from the opening value of 63,930.72 points....

Nigerian Exchange Limited has announced the reclassification of Fidelity Bank Plc from small price stock to medium price stock. According to a statement from The Exchange on Friday, Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) notes that equities priced above N5 per share for at...

The Central Bank of Nigeria (CBN) has revoked the licenses of 2,698 of Bureau de Change (BDC) dealers. On Wednesday, the CBN published a list of approved BDC’s which means the licenses of the approved operators and they were 2,991 from the over 5,689 earlier approved, meaning that 2,698 BDCs...

  Nigerian equities market on Tuesday sustained its bullish run as market capitalization gained N449 billion, as investors’ interest in Dangote Cement Plc and 49 others added to their opening value. The market All-Share Index (ASI) gained 823.37 basis points, which amount to 1.31 per cent to close at 63,766.72...

  The Central Bank of Nigeria (CBN) has increased the tenure of the Managing Director/Chief Executive of banks from maximum from 10 years of 12 years. This was disclosed in a circular on the new, “Corporate Governance Guidelines for Commercial, Merchant, Non-interest and Payment Service Banks in Nigeria.” The circular...

Any investor looking to acquire up to 5 per cent stake of any bank in Nigeria will need to obtain prior approval and no objection from the Central Bank of Nigeria (CBN). This is according to section 20.2 of the new Corporate Governance Guidelines for Commercial, Merchant, Non-Interest, and Payment...