Business

In the realm of emerging market derivatives, there has been a significant surge in growth in recent years. However, these derivatives still represent a mere one per cent of the overall assumed countries involved in this market. Spot markets in emerging economies, in terms of size, differ greatly from one another, both absolutely and relative to one another. Thus, in…

In a bid to ensure that more Nigerians are educated on the activities of the capital market, thereby developing the market and attract more investors, the Securities and Exchange Commission (SEC) is set to hold an awareness programme tagged “Investor Safety” for the Officers of the Federal Road Safety Corps (FRSC) across the country.  The event which is the third…

 …Emerges the only Nigerian among six Africans in the top 500 Index President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index. Dangote, who…

Succour may have come the way of investors who endured long periods of a downturn on the Nigerian Exchange Limited (NGX) as bold economic reforms of the new government have lifted equities market capitalisation by N4.9 trillion in the first half (H1) of the year. This comes despite rising insecurity, inflation, other macroeconomic challenges and global uncertainty. Experts said a…

The Nigerian equities market on Tuesday sustained its upswing as the overall capitalisation rose by N421 billion following price uptick in Seplat Energy and 50 others. Accordingly, the All Share Index (ASI) gained by 772.98 points, representing a growth of 1.30 per cent to close at 60,108.86 points. Also, market capitalisation gained N421 billion to close at N32.730 trillion. The…

The equities market of the Nigerian Exchange Limited (NGX) on Monday kicked off this week’s trading on a bullish note, following demand for BUA Cement Plc and 45 others. The All Share Index (ASI) gained by 132.13 points or 0.22 per cent to close at 59,335.88 points. Also, market capitalisation gained N72 billion to close at N32.309 trillion. As measured…

In a bid to empower investors to make better investment decisions as well as encourage corporates to adopt sustainability at the core of their financial reporting, the Financial Reporting Council (FRC) of Nigeria, International Sustainability Standards Board (ISSB) and NGX Regulation Limited (NGX RegCo) on Monday, launched the first two IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2 Standards)…

Nigeria Deposit Insurance Corporation (NDIC) has stressed it has zero tolerance for financial impropriety and professional misconduct. The commission, through a statement by Director of Communications and Public Affairs, Bashir Nuhu, noted although the alleged events are unrelated to its operations, it is committed to uncovering the truth and addressing the matter appropriately. It said: “The attention of management of…

The total transactions on Nigerian Exchange Limited (NGX) grew to N322.92 billion in May as against N191.21 billion in the previous trading month, thus representing a 68.88 per cent increase. This is according to the Domestic and Foreign Portfolio Investment Report of NGX for the month of May 2023. The prolonged foreign exchange scarcity, inflation among others had been taking…

The Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to obtain the social media handles of customers for the purpose of identification. The apex bank also asked financial institutions to obtain e-mail addresses, telephone numbers, and residential addresses, among other things, from customers. The directive was contained in the new CBN customer due diligence regulations, which it…