MARKETS

...declares a total dividend of N2.10 per share Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion. According to the Bank's results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings...

The Securities and Exchange Commission (SEC) has announced that His Excellency, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 of 2007. This landmark legislation strengthens the legal framework of the Nigerian capital market, enhances...

The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021. According to a press statement on Thursday by Mr. Olufemi O. Soneye, the Corporation’s Chief Corporate Communications Officer,...

The Federal Government of Nigeria has successfully raised N1.092 trillion from six series of Sukuk, a Sharia-compliant financial instrument designed to attract ethical investment. The Director-General of the Debt Management Office (DMO) Ms. Patience Oniha disclosed this during the All Parties Meeting for the Series VII Sovereign Sukuk held in...

• proposes final dividend of N3.00 United Bank for Africa Plc (UBA) has released its audited financial statements for the year ended December 31, 2024, reporting a surge of 26.14% to N766.5 billion in post-tax profit for the group, from N607.6 billion in 2023. The bank also made a pre-tax...

The Central Bank of Nigeria (CBN) has released a new exchange rate for cargo clearance at Nigerian ports following the depreciation of the naira in all foreign exchange markets. The apex bank fixed the Customs rate at N1,536.39 per dollar from N1,530 the previous day The new Customs exchange rate...

• pledges stronger investor protection The Securities and Exchange Commission (SEC) has pledged to ensure that only individuals who meet rigorous ethical and professional standards are allowed to operate in Nigeria’s capital market. This decision the Commission said is aimed at safeguarding investors and strengthening market confidence. A statement from...

The bears continued its dominance on the Nigerian bourse last week as the NGX All-Share Index and Market Capitalization depreciated by 0.94 per cent and 0.80 per cent to close the week at 104,962.96 and N65.820 trillion respectively. Similarly, all other indices finished lower with the exception of NGX Consumer...

Nigerian Breweries Plc has acquired the remaining 20 percent shareholding in Distell Wines and Spirits Nigeria Limited (DWSN)), securing full ownership of the company. This development follows the brewing giant’s earlier 80 percent acquisition of Distell’s minority shares last year. The company made this known in a statement released on...

The Securities and Exchange Commission (SEC) has announced the cancellation of the registration of Mainland Trust Limited and the suspension of Centurion Registrars. The Commission in separate circulars issued at the weekend said the sanctions were imposed following the failure of both firms to comply with regulatory directives. The circular...