Nigerian Stock Exchange

Some shareholders of Forte Oil (FO) Plc on Tuesday tasked the new management of the company on continuous payment of dividend and adherence to good corporate governance.

The Nigerian Stock Exchange (NSE) on Friday recorded growth with the market capitalisation increasing by N37 billion to change the bearish posture it maintained in the last four days.

The second largest telecommunications group in Africa, Airtel Africa Plc, is set to sell its shares to Nigerian investors at between N363 and N454 per share.

Lafarge Africa Plc says there is a proposal at hand to sell its 100% equity in Lafarge South Africa Holdings Limited (LSAH).

The acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, has identified derivatives as some of the investable products capable of boosting liquidity in the Nigerian capital market.

Airtel Nigeria has officially filed an application with the Securities and Exchange Commission for the listing of its shares on the Nigerian Stock Exchange.

Airtel Africa Ltd, a unit of India’s Bharti Airtel Ltd, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange.

Investors in the nation’s stock market lost N533bn in the last seven trading sessions as bearish sentiment persisted in the market.

The Nigerian Stock Exchange (NSE) market capitalisation on Tuesday continued in a losing streak, dropping by N98 billion.

Capital market operators on Wednesday called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission (SEC) and Oando Plc.

With the enlisting of the leading mobile operator in the country on the Nigeria Stock Exchange, the Nigerian Communications Commission, NCC, says other operators including Bharti Airtel, Globacom and 9Mobile are getting set to do so.

Fireworks on the controversy over corporate governance issues in Oando Plc may begin today as the management of the company is set to contest the veracity of the sack of its directors by the Securities and Exchange Commission, SEC, last weekend.

After over a year of forensic audit, the Securities and Exchange Commission (SEC) has concluded investigation of Oando Plc and barred the Group Chief Executive Officer, Mr Wale Tinubu, from being a director of a public company for five years.

The Securities and Exchange Commission has concluded its investigation of Oando Plc and ordered the Group Chief Executive Officer of the company, Mr Wale Tinubu, and other affected board members to resign.

The crucial market indices of the Nigerian Stock Exchange (NSE) dropped by 0.17 per cent on Thursday after the work-free day to mark the May 29 inauguration date.

Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, said on Tuesday it was considering a stock market flotation in London to reduce existing debt.

Telecommunications giant, MTN Nigeria, has revealed its listing on the Nigerian Stock Exchange (NSE) is the subject of an enquiry by the Economic and Financial Crimes Commission (EFCC).

MTN Nigeria said on Saturday it is under investigation by the Nigerian financial crimes agency over its listing last week, although it “has not been accused of any wrongdoing” by the Economic and Financial Crimes Commission.