Business

Nigerian equities on Monday closed positive note, extending gains from the previous session as the overall capitalisation closed N324 billion stronger. The All Share Index (ASI) rose by 592.47 points, representing a gain of 0.90 per cent to close at 66,151.38 points. Also, market capitalisation appreciated by N324 billion to close at N36.205 trillion. The uptrend was impacted by gains…

Total transactions in Nigeria’s equities market surged to N702.9 billion in July 2023, representing a 72.83per cent surge when compared to the N406.75 billion recorded a month earlier. This is according to the Domestic and Foreign Portfolio participation in equity trading published by the NGX. When compared to July 2022 where the total transaction was just N101.1 billion, the equities…

The Securities and Exchange Commission (SEC) on Friday stated that the unclaimed dividends in Nigeria’s capital market now stand at the region of N190 billion. The Director-General of SEC, Lamido Yuguda, disclosed this during the commission’s second Capital Market Committee (CMC) virtual briefing. The Capital Market Committee (CMC) was established to serve as a medium for the exchange of ideas…

The highly anticipated labour force report by the National Bureau of Statistics (NBS) was released on Thursday revealed that Nigeria’s unemployment rate stood at 4.1 per cent in Q1 2023. This represents a stack difference from the 33.3per cent recorded in Q4 2020, which has triggered reactions from several quarters, citing that the numbers do not reflect the reality of…

Dangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year. This achievement was confirmed by the brand and marketing firm, TOP 50 BRANDS NIGERIA, as part of its comprehensive 2023 Top Brands perception assessment. Winning the award for a record 6th time confirms the foremost African indigenous Conglomerate’s unwavering dominance of the domestic brand space.…

The naira on Wednesday appreciated   by 1.03per cent to N773.42 against the dollar  at the Investors & Exporters (I&E) foreign exchange window from N781.49 against the dollar                   Meanwhile, the overnight lending rate remained at 24.8per cent, as the system liquidity closed in a net short position (N212.08 billion). The NTB secondary market traded on calm note as participants…

The domestic equities market on Wednesday closed positive for the fourth consecutive session as the major index appreciated marginally by 0.01 per cent on investors’ interest in Transcorp Hotel, Dangote Sugar Refinery, and Transnational Corporation (Transcorp). The Nigeran Exchange Limited All-Share Index (ASI) gained 4.25 basis points or 0.01 per cent to close at 65,492.92 basis points. Also, market capitalisation…

In a bid to tap into reservoir of funds in companies within the free trade zones, Nigerian Exchange Limited (NGX) has revealed that it is in talks with the Securities and Exchange Commission (SEC) and other market stakeholders to accommodate dollar asset listings from firms, particularly within the free trade zone. Chief Executive Officer, NGX, Temi Popoola, stated this during…

The Managing Director/Chief Executive Officer of Duport Midstream Company Limited, Dr Akintoye Akindele, has opened up on a business dispute he has with the family of the late MKO Abiola. In a short video, the businessman said his business rivals are trying to weave unfound fraud allegations around him through cronies, describing all fraud allegations against him as untrue. He…

Nigeria’s stock exchange proposes allowing companies to list bonds denominated in dollars on the bourse, potentially expanding this later to stocks too, with the aim of easing their difficulty in accessing hard currency in Africa’s biggest economy. Nigerian Exchange Ltd. is targeting the initiative at companies operating from the country’s special economic free trade zones and those earning foreign currency,…