Markets

The logo of MTN is pictured in Abuja, Nigeria September 11, 2018. REUTERS-Afolabi Sotunde-File Photo

Dangote Cement, MTN Nigeria, 9 others raise N478.4 billion from commercial paper

Dangote Cement, MTN Nigeria, Nigerian Breweries and nine other Industry leading Nigerian companies have raised a sum of N478.4 billion through Commercial Paper issuances between January and September 2020. Newsletter from Nigerian Investment Promotion Commission (NIPC) has revealed.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian equity market drops by 2.5% this week

After enjoying bullish trend last week, the Nigerian equity market declined 2.5% this week, thanks to losses by Dangote Cement, WAPCO, and Zenith Bank.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Profit taking persist on NSE, market capitalisation loses N232 billion

Nigerian stock market closed on a negative note for the fourth straight session on Thursday with the market capitalisation losing N232 billion.

Finance Bill: SEC opposes government’s move to manage unclaimed dividends

The Securities and Exchange Commission is opposed to a proposed amendment in the Finance Bill 2020 that prescribes that unclaimed dividends be handed over to the federal government as trustee.

NSIA: Investment in infrastructure will boost Nigeria’s economy

The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE market indices drop further 0.09%

The Nigerian Stock Exchange (NSE) market indicators on Tuesday dropped further by 0.09 per cent on sustained profit taking embarked on by some investors.
Major Chinese stock indices on Friday ended mixed, with the benchmark Shanghai Composite Index down 0.05 per cent, at 3,083.79 points.

Asian stocks head lower on fears of fresh virus cases

Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with fresh concerns about a surge in COVID-19 infections.

SEC to enforce trading disclosure of 500,000 stocks, others

From January 2021, stockbrokers would be mandated to give details of any investor in the Nigerian capital market who trades any security more than 499,999 units.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Stock market gains N138 billion despite profit taking

The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week.
Director General of the SEC, Mr. Lamido Yuguda, stated this on Tuesday at a Webinar organised by the Nigerian Stock Exchange (NSE), in collaboration with the Nigeria Governors’ Forum (NGF) and the Nigerian Investment Promotion Council (NIPC) with the theme: Privatisation in Nigeria and the Outlook for Subnational Economic Development.

SEC decries low participation of retail investors, moves to attract more

The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.
The U.S. government is just one step away from enacting a law that could ‘kick’ several Chinese firms off Wall Street, which can further escalate tensions between Washington and Beijing.

U.S. closer to removing Chinese firms from Wall Street

The U.S. government is just one step away from enacting a law that could ‘kick’ several Chinese firms off Wall Street, which can further escalate tensions between Washington and Beijing.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigerian stock market extends rally to six trading sessions

The banking sector inspired the All-Share Index to gain 105.48 absolute points, representing a 0.30% growth to close at 35,147.62 points, Market Capitalization appreciated by N55.17 billion, representing a growth of 0.30% to close at N18.364 trillion.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Nigeria stock market resumes December with N55 billion gain

The Nigeria stock market on Tuesday sustained bullish sentiment to open the month of December with N55 billion growth due to buying interests in Tier 1 banks.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE migrates four companies to growth board

The Nigerian Stock Exchange (NSE) says it has migrated four companies from alternative securities market (ASeM) to growth board.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE closes last trading day in November with 0.45% growth

The nation’s bourse closed for the last trading day in November with a growth of 0.45 per cent following price appreciation posted by Airtel Africa and 16 other stocks.
The company has more than 18 million customers, about 1 million delivery workers (whom it refers to as “Dashers”), and works with more than 390,000 merchants. It will list its shares under the symbol DASH on the New York Stock Exchange.

Airbnb, DoorDash are confidently aiming for even higher IPO valuations

Two of the year’s most anticipated public listings — DoorDash and Airbnb — will seek higher than expected valuations for their IPOs, new filings show. Each company has seen its fortunes affected by the coronavirus pandemic, with DoorDash surging and Airbnb seeing its business drop off sharply. But both have priced their IPOs in roughly the same range.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE lifts suspension on FTN Cocoa Processors

Authorities at the Nigerian Stock Exchange (NSE) at the weekend lifted suspension clamped on FTN Cocoa Processors Plc, nearly three months after the Exchange disallowed trading in the shares of the agricultural company for breach of corporate governance rules.
Bitcoin can baffle even bigger-fish investors [Dado Ruvic-Reuters]

Low money market yield, inflation may push more investors to bitcoins

The roller coaster which the Nigerian equities market has enjoyed in the last two months may be short-lived as there are indications that investors are planning to take advantage of the low yield being recorded in the money market by diverting into Bitcoin trading.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE sustains positive momentum with 0.10% growth

The Nigerian Stock Exchange (NSE) on Thursday sustained positive momentum with a growth of 0.10 per cent.
Wall Street's main indexes opened lower on Friday as rising infections overshadow positive vaccine news [Shannon Stapleton-Reuters]

Stocks push higher on vaccine hopes but gains lose steam

Asian shares extended this month’s stellar gains as market euphoria over COVID-19 vaccines and expectations that US President-elect Joe Biden’s administration would deliver more economic stimulus overrode weak US economic data.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE opens week with 0.04 percent loss

The domestic equities market on Monday extended its losing streak with the All-Share Index dropping by 0.04 per cent, as the country officially entered recession.
Wall Street's main indexes opened lower on Friday as rising infections overshadow positive vaccine news [Shannon Stapleton-Reuters]

Dow opens up 200 points on another jab of promising vaccine news

Wall Street’s main stock indexes pushed higher on Monday kicking off another week on a shot of positive vaccines news – this time from AstraZeneca and Oxford University.

Recent Stories

The National Universities Commission, NUC, has granted approval for the start of seven new courses at the Augustine University, Ilara, Epe, Lagos State.

NUC approves mass communication, others for Augustine University

The National Universities Commission, NUC, has granted approval for the start of seven new courses at the Augustine University, Ilara, Epe, Lagos State.
The Chairman, Senate Committee on Niger Delta Affairs, Senator Peter Nwaoboshi, has assured the Niger Delta Development Commission, NDDC, of the support and collaboration of his committee in the task of developing the Niger Delta region.

Senate committee assures NDDC of support, collaboration

The Chairman, Senate Committee on Niger Delta Affairs, Senator Peter Nwaoboshi, has assured the Niger Delta Development Commission, NDDC, of the support and collaboration of his committee in the task of developing the Niger Delta region.
Sheffield Wednesday are set to take legal action against Leicester City over the transfer of forward George Hirst.

Championship club ‘set to take legal action’ against Leicester City

Sheffield Wednesday are set to take legal action against Leicester City over the transfer of forward George Hirst.
This image shows vials of Russia's COVID-19 vaccine, named Sputnik V. (Russian Health Ministry - Handout-Anadolu Agency via Getty Images)

Russian deputy premier orders study of coronavirus vaccination efficacy for HIV patients

Russian Deputy Prime Minister Tatyana Golikova has tasked the health ministry and the health protection watchdog with studying Coronavirus (COVID-19) vaccination efficacy for HIV-positive people.
The Stockfish Dealers Association has called on the federal government to grant importers of stockfish access to the foreign exchange.

Nigerian stockfish dealers seek access to forex

The Stockfish Dealers Association has called on the federal government to grant importers of stockfish access to the foreign exchange.

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Kola Ologbondiyan

PDP asks President Buhari to sack defence minister

The Peoples Democratic Party, PDP, wants the President Muhammadu Buhari-led government to relieve Minister of Defence, Major General Bashir Magashi, of his duties, for allegedly abdicating his statutory duties in asking unarmed Nigerians to defend themselves against armed aggression by bandits and terrorists.
She added that foods rich in phytonutrients needed to be taken always as it was the phytochemical in them that fights against the disease called cancer.

Dietician urges Nigerians to take adequate nutrition to reduce risk of cancer

A dietician, Mrs. Chinyere Okwara, has urged Nigerians to always take balanced diet so as to reduce the risk of cancer and other diseases.
The Chairman of the All Progressives Congress (APC) Caretaker/Extraordinary Convention Planning Committee, Governor Mai Mala Buni has said the actions or inactions of the committee at this critical stage of the nation’s political life would determine the party’s chances of retaining power at the centre in 2023.

Yobe governor orders full lmplementation of report on education

Yobe State governor and chairman APC Caretaker Extraordinary Convention Planning Committee, Mai Mala Buni, today approved the full implementation of the report of the Technical Committee on revitalization of Basic and Secondary Education in the state.
The Africa Centres for Disease Control and Prevention (Africa CDC) has advised African countries against the use of Ivermectin for treating COVID-19.

Coronavirus: Africa CDC advises against use of Ivermectin

“Member States are advised against the use of Ivermectin for the prevention and treatment of COVID-19 because there is no conclusive clinical data to support its safety and efficacy. The public is advised to adhere to country-specific guidelines for the prevention and treatment of COVID-19,” it said in a statement Saturday.

Nearly 5,000 people displaced by Nigeria’s communal violence arrive Benin Republic

Nearly 5,000 people, displaced by Nigeria’s communal violence, have arrived at Beninese villages in Pobè, a border commune located about 100 km from Cotonou, PANA learned on Saturday from sources close to the authorities of the commune.