MARKETS

All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) dropped by 0.03 per cent on Wednesday to close at 28,027.23 basis points. The day’s performance thus increased the year to date losses to -2.15 per cent. Investors on the bourse consequently lost N2.4 billion as market capitalisation dipped to N9.626...

Nigeria Communications Commission (NCC) said on Tuesday it has approved a request by internet provider Visafone to transfer its shares to MTN following its takeover by the South African firm. According to a Bloomberg report monitored by Business247 News Online, MTN bought Visafone in January to improve its broadband services...

The Nigerian Equities market continued on a positive trend on Tuesday as strategic positioning by investors ahead of third quarter 2016 financials releases prevailed. Equity investors on the Exchange gained N37.5 billion as market capitalisation closed at N9.629 trillion the highest in the last five trading sessions as the All-Share...

The European Investment Bank and United Bank for Africa (UBA) have agreed a new €60 million lending programme to support private sector investment across Nigeria. This represents the EIB’s largest ever loan to UBA and will allow the bank to provide longer term loans than currently available to private companies...

United Bank for Africa (UBA) Plc released its third quarter results for the nine months period ended September 30, 2016 on the floor of the Nigerian Stock Exchange today showing an eight per cent growth in profit for the period of N52.3 billion from N48.6 billion made in the corresponding...

CBN, NDIC assures they are healthy A report has said that some banks in Nigeria may have been experiencing a “full-blown financial crisis” due to a cash crunch arising from “failed fiscal and monetary policies”. The Arqaam Capital report published by Bloomberg on Monday said this. Arqaam Capital is a...

There is a minor shakeup in the National Insurance Commission (NAICOM) has some directors have been redeployed to new portfolios in a minor reorganisation and rotation of heads of directorate in the commission. A statement from the Head, Corporate Affairs, NAICOM, Mr. Rasaaq Salaami, and made available to Business247 News...

Equity market started the week on a positive note, having recorded a growth of 0.32 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (ASI) to close at 27,925.00 basis points on Monday. Investors gained N30.8 billion as market capitalization closed at N9.591 trillion in contrast to N9.561 trillion...

  ....., guidelines for granting liquid assets approved The Securities and Exchange Commission (SEC) is pleased to notify issuers and investors that the Central Bank of Nigeria (CBN) has approved “Guidelines for Granting Liquid Asset Status to Sukuk Instruments Issued by State Governments”. This is a major milestone for Nigeria...

Great Nigeria Insurance (GNI) Plc has completed the sale of 75 per cent stake to Insurance Resourcery Consultancy Services Limited (IRCSL), which by this transaction becomes a major shareholder in the insurance company. This marks the closure of the acquisition process which began five years ago, precisely, on 28th September,...