Business

The Nigerian Exchange Limited (NGX) has revealed that over N3 trillion domestic transactions and N410 billion in trades from foreign investors in 2023. NGX in its latest report showing trading figures from market operators on their domestic and foreign portfolio investments, revealed that a total transaction of N3.58 trillion from both domestic and foreign transactions. According to the report, domestic…

 The equities market segment of the Nigerian Exchange Limited (NGX) extended its winning streak by 0.57 per cent on Thursday, reaching over 102,000 basis points to mark it an all-time high record. The Thursday gain makes it fourth day of positive growth in a row, driven by positive sentiment seen in Seplat Energy Plc and 32 others. The NGX All-Share…

Naira on Thursday closed trading at N900.96 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), according to FMDQ Exchange. FMDQ Exchange, a platform that oversees official FX trading in Nigeria, said the naira recorded a high of N 1,399.00 and a low of N789.00. The local currency had depreciated by 0.41 per cent to N882.24 on Wednesday…

Former emir of Kano, Muhammadu Sanusi II  has said the Federal Government’s decision to relocate some members of staff of the Central Bank of Nigeria (CBN) from Abuja to Lagos is a “sensible move”. The CBN recently announced plans to move its banking supervision department to Lagos. Northern Senators Forum (NSF), raising concerns over the plan, said it would engage…

The governor, Central Bank of Nigeria (CBN), Olayemi Cardoso has revealed that fuel costs are expected to reduce in 2024, effectively impacting several segments of the economy. Cardoso spoke on Wednesday at the unveiling of the Nigerian Economic Summit Group’s (NESG) 2024 macroeconomic outlook, in Lagos. “The expected stabilisation or reduction in fuel costs is poised to have far-reaching implications…

The rally in Nigeria’s equity market continues as the All-Share Index of Nigerian Exchange Limited (NGX) hit 101,571.11 basis points, surpassing the 100,000 mark just as the market capitalization hit N55.58trilliionn. Bluechip stocks including Dangote Cement, BUA Cement, BUA Foods continue to drive major gains seen on the Exchange. Year-to-date, the domestic market has returned 35.84per cent surpassing inflationary levels…

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that the apex bank in 2024 is targeting 21.4 per cent inflation rate. The National Bureau of Statistics (NBS) disclosed that Nigeria’s annual inflation rate rose to 28.92 per cent in December 2023 from 28.20 per cent in November 2023. Cardoso who was delivering his keynote address at…

After several days of turbulence, the naira regained it strength and steadied against the United States dollar, on Tuesday, at parallel market selling at N1,365/$1. The naira also regained it strength at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the nation’s official window as it closes at N878.61/$1 against N925.34/$1 it closed on Monday. According to Aboki FX, the naira…

Capital market analyst, who is the Managing Director/Chief Executive of Arthur Steven Asset Management Limited, Mr. Olatunde Amolegbe, has called on the Federal Government to encourage listings on the nation’s bourse to boost capital market participation and tax revenue generation. Amolegbe highlighted companies in which the government had direct or indirect holding as well as companies that did business with…

Dangote Cement Plc shares gained 9.99per cent on Monday to close with a share price of N592.60, thus reaching a market cap of N10.095 trillion, becoming the first Nigerian company to hit the historic milestone.  In 2024, Dangote Cement has recorded a remarkable performance in the equities market, with a year-to-date return of 85.2per cent, moving from a share price…