Business

Positive sentiments persisted on the equities market of the Nigeria Exchange Limited (NGX) on Thursday as investors’ buy-interest in MTN Nigeria Communications (MTNN) Plc and 50 others triggered a N542 billion increase. Eventually, the All Share Index (ASI) gained by 995.70 basis points or 1.55 per cent to close at 65,263.06 basis points. Also, market capitalisation gained N542 billion to…

Nigerian Exchange Limited (NGX) on Thursday announced the listing of the Federal Government’s N130 billion Sovereign Sukuk through the Debt Management Office (DMO) on its platform. The 10-year 15.64% Ijara Sukuk due 2032 was listed on bourse. According to DMO, the Sovereign Sukuk opened for subscription in November 2022 with an initial offer of N100 billion and garnered immense interest…

The United Kingdom (UK) through its Foreign, Commonwealth and Development Office (FCDO) has stated that it will continue to focus on building future investment links and collaborate with Nigerian Exchange Limited (NGX) to ensure Nigeria’s economic potential is unlocked. This was even as the UK government announced the Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) partnership with the Exchange…

The Securities and Exchange Commission (SEC) and the Capital Market Community are to partner with the Federal Ministry of Mines and Steel Development and other stakeholders to promote the use of alternative means of raising capital such as non-interest products, tokenization of assets as well as adopting technologies such as FinTech. This among others was contained in a communique issued…

Transactions at Nigerian Exchange Limited (NGX) closed the month of July 2023 on a positive note as earnings and dividend declaration from quoted companies helped NGX market cap gain N1.814 trillion. The gain was also supported by insider dealings among companies as directors and related parties consolidated their positions in a show by investors of their belief in the inherent…

Nigerian equities market on Monday opened the week on decline as investors’ investments went down by N392 billion, propelled by the loss in MTN Nigeria Communications (MTNN) Plc and 48 others. The NGX All-Share Index (ASI) lost 718.87 basis points or 1.10 per cent to close at 64,337.52 bassis points. Also, market capitalisation declined by N392 billion to close at…

The management of BUA Group on Sunday denied its involvement in illicit foreign exchange dealings, stressing that its Chairman, Abdul Samad Rabiu has not received any of the alleged foreign exchange allocations from the Central Bank of Nigeria (CBN). The management in a statement said, “Our attention has been brought to various false allegations published against BUA Group on some…

Nigerian Breweries Plc has reported N85.26 billion net loss on foreign exchange transactions in half year ended June 30, 2023 amid the move by the Central Bank of Nigeria (CBN) to unify the foreign exchange market. The multinational breweries company had reported N7.28 billion net loss on foreign exchange transactions in corresponding period of 2022. The company’s net loss on…

Equities market of the Nigerian Exchange Limited (NGX) on Thursday extended losses for the second consecutive session as the overall capitalisation closed N111 billion weaker. Hence, the All-Share Index shed 204.25 per cent or 0.31 per cent, to close at 65,482.91 basis points. Similarly, the overall market capitalisation value lost N111 billion to close at N35.635 trillion. The market negative…

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday ended its four-day winning streak with a decline of N187 billion on selloffs in MTN Nigeria Communications (MTNN) and 23 others. The All Share Index (ASI) waa down by 303.86 basis points or 0.46 per cent to close at 65,687.16 basis points, while market capitalisation declined by N187 billion…