Nigerian Stock Exchange
Oando: Court stops SEC from infringing on shareholders rights
The disgruntled shareholder, filed that the directive of the SEC suspending Oando's Annual General Meeting is in breach of his right to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.
NSE moves 307.79 million shares valued N2.91 billion in bearish trend
The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals.
Operators identify factors discouraging foreign investors from stock market
Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic.
Fidelity Bank Plc issues largest ticket Tier II local bonds in Nigeria
Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in 2031.
Airlines groan under new coronavirus safety protocols
Recent safety protocols enforced by many countries across the world, particularly those instituted by both the Nigerian and its United Arab Emirates counterpart by way of flight restrictions, are affecting both nations’ carriers economically.
NSE closes week in red, down by 1.40%
The market indices of the Nigerian Stock Exchange (NSE) closed in red on Friday, dropping by 1.40 per cent due to Dangote Cement price drop.
NSE lists capital market as viable funding source for SMEs
Nigerian Stock Exchange (NSE) has highlighted the capital raising opportunities in the stock market for Small and Medium Scale Enterprise, SMEs, in the country.
NSE: Zenith Bank tops value-traded stocks as investors gain N1.1 trillion YTD
Activity chart of the Nigerian Stock Exchange (NSE) for the last trading session of the month, Friday January 29, showed Zenith Bank atop Most-Traded stocks with a total value of N1.2 trillion and transaction volume of 44,956,083 shares.
Airline mortality: Aviation experts task operators on mergers
Stakeholders in the nation’s aviation industry have advised domestic airlines to merge into one mega carrier to beat the 10-year ceiling for closure and function smoothly.
Flour Mills eyes more capital market funding
The Group Managing Director/Chief Executive Officer, Flour Mills of Nigeria (FMN) Plc, Mr. Omoboyede Olusanya, has said the company will continue to explore opportunities in the capital market to enable it diversify its funding sources whilst playing a critical role in the development of our market.
Aliko Dangote maintains top spot on Forbes’ Africa billionaires list
Aliko Dangote of Nigeria has maintained his position as Africa’s richest person for 10 consecutive years, according to the 2021 Forbes’ Africa Billionaires List released on Friday.
Trading rebounds on NSE, up N50 billion
Transactions on the Nigerian Stock Exchange (NSE) rebounded on Wednesday by N50 billion, halting two consecutive days bearish trend due to sustained bargain-hunting in insurance stocks.
NSE compensates 49 investors with N17.02 million
According to him, the NSE engaged with the federal government to secure an ”essential service status” for the market as part of its Covid-19 response as well as engaged with the Federal Ministry of Finance, Budget and National Planning to achieve specific capital market incentives in the 2019 and 2020 Finance Acts.
Nigerian government raises N2.36 trillion from capital market in 2020 – NSE chief
The Federal Government dominated capital raising at the fixed income segment of the Nigerian Stock Exchange (NSE) in 2020, raising over N2.36 trillion.
2021 Outlook: Nigeria will record positive GDP growth – economist
An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.
Notore begins turn around maintenance of plant
Africa’s leading chemical and agro-allied company, Notore Chemical Industries Plc, has announced the commencement of the Turn Around Maintenance (“TAM”) of its plant.
NSE: Nigerian stocks maintain bullish trend for fifth straight day
Equities on the Nigerian Stock Exchange generally posted their fifth consecutive daily gains on Thursday as leading stocks including Seplat, Dangote Cement and MTNN propelled the N325 billion upward drift.
Stanbic IBTC closes Bureau de Change operations
Stanbic IBTC Bureau De Change Limited (SIBDC), a subsidiary of Stanbic IBTC Holdings Plc, has announced the closure of its Bureau de Change operations.
NSE extends gain, index rises further by 0.11 percent
Positive sentiments persisted on the Nigerian Stock Exchange on Wednesday with the All-Share Index extending growth by 0.11 per cent.
2021: Banks to walk a tightrope amid low revenue environment
Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles.
NSE suspends Thomas Wyatt Nigeria
The rule provides that “if an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: send to the issuer a ‘second filing deficiency notification’ within two business days after the end of the cure period; suspend trading in the issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension”.
Nigerian government to borrow unclaimed dividends, dormant accounts’ balances
Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to the trust fund.”
Recent Stories
Court orders Ekiti university to reinstate sacked workers
The National Industrial Court in Akure has ordered the Ekiti State University (EKSU), Ado Ekiti, Ekiti State, to reinstate 85 non-teaching staff members sacked by the institution in December 2019.
INEC to hold Aba Reps by-election on March 27
The Independent National Electoral Commission (INEC) has fixed March 27, for the Aba North/South Federal Constituency by-election in Abia.
Troops foil Boko Haram attack, rescue passengers in Borno
Nigerian troops have foiled an attack from Boko Haram and ISWAP and rescued passengers along the Maiduguri-Damaturu highway in the Auno axis of Borno State.
SSANU, NASU suspends strike after three weeks
The Joint Action Committee, JAC, of non-teaching staff unions of universities has announced the suspension of its three weeks old strike with effect from midnight of February 26.
NDLEA boss urges Nigerians to take ownership of war against drug abuse
The Chairman/Chief Executive of the National Drug Law Enforcement Agency, NDLEA, Brig. General Mohamed Buba Marwa, has urged Nigerians to take ownership of the renewed fight against the menace of drug abuse in the country.
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Zimbabwe praises China for coronavirus vaccine supplies
Zimbabwe is set to receive a further 800,000 doses of the Covid-19 jab from China, indicating the “excellent relationship” between the two nations and the Asian giant’s willingness to give the southern African state “preferential treatment” amidst a global “stampede” for vaccines, Zimbabwe’s presidential spokesman George Charamba is quoted by the state-owned Herald newspaper as saying.
FRSC to deploy more technology in enforcement
The Federal Road Safety Corps (FRSC) says it will implement recommendations of Global Road Safety through the application of technology, purposeful stakeholders’ engagement and enforcement of road traffic laws and regulations
APC targets over 100,000 registrants per local council in Enugu – chieftain
The All Progressive Congress (APC) says it is targeting no fewer than 100,000 new registrants per Local Government Area in Enugu State in the ongoing nationwide APC Registration and Revalidation.
Roman Abramovich set to launch £430 million superyacht
Chelsea owner Roman Abramovich is set to launch his eye popping Superyacht reportedly built at the cost of £430 million.
Benue farmers tackle Plateau governor over AK-47 comment
The Chairman of All Farmers Association of Nigeria (AFAN), Benue State chapter, Mr. Aondogu Saaku, has described the statement made by the Plateau State Governor, Mr. Simon Lalong, that both farmers and herdsmen carry sophisticated weapons, as despicable and insulting to farmers.