Business

Effective internal controls over financial reporting has been described as necessary to help ensure that companies provide investors with accurate financial statements, which will in turn boost investor protection and confidence. This was stated by the Executive Commissioner Legal and Enforcement of the Securities and Exchange Commission (SEC), Mr. Reginald Karawusa during a training on Internal Controls over Financial Reporting,…

The Director-General of the Debt Management Office (DMO), Ms Patience Oniha, has stressed the need for Nigeria to operate an efficient tax administration to tackle revenue challenges. Oniha said this at the 2022 Capital Market Correspondents Association of Nigeria (CAMCAN) workshop with the theme: “Nigeria’s Public Debt and the Capital Market” over the weekend in Lagos. She said that the…

Nigerian Exchange Limited (NGX) said it helped facilitated raising about N3.5trn for the federal, state governments and corporate organisations in 2022, as part of its objective in positioning the capital market as the prime location for raising capital. The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka stated this while giving his remarks at the Nigeria Integrated National Financing Framework…

The Nigerian stock market on Thursday opened the new month mixed albeit with a bearish tilt as market total capitalisation closed N2 billion lower. The NGX All Share Index (ASI) decreased by 3.40 basis points or 0.01 per cent to close at 47,656.64 basis points. Similarly, market capitalisation lost N2 billion to close at N25.957 trillion. Meanwhile, market breadth closed…

In the last trading session of the month of November, yesterday, Nigerian equities market staged a rebound, recouping prior session losses as capitalisation ended N183 billion stronger. The All Share Index (ASI) rose by 337.07 absolute points, representing a gain of 0.71 per cent to close at 47,660.04 points. Accordingly, investors gained N183 billion in value as market capitalisation went…

The bears returned to the equities market of the Nigerian Exchange Limited (NGX) after six consecutive days of uninterrupted bullish streak as capitalisation declined by N65 billion on Monday to start trading activities this week. The All Share Index (ASI) decreased by 117.89 absolute points, representing a dip of 0.25 per cent to close at 47,436.45 points. Similarly, market capitalisation…

A finance expert and Professor of Finance and capital markets, Nasarawa State University Keffi, Prof Uche Uwaleke has attributed the poor performance of the manufacturing sector in the latest Gross Domestic Product (GDP) to monetary policy tightening stance of the Central Bank of Nigeria (CBN) in July and September of 2022 and the resultant high lending rates. He said the…

Nigerian Exchange Limited (NGX) and International Finance Corporation (IFC) have announced a partnership to facilitate the issuance of green, social and sustainability bonds in Nigeria to increase financing for projects that address climate and social issues. The announcement was made during a Green and Sustainability Bond workshop co-hosted by both institutions in Lagos, and supported by HSBC Regio Fund and…

The British Deputy High Commissioner to Nigeria, Mrs Ben Llewellyn-Jones has stated that the UK government was committed to supporting Nigeria’s Financial Sector – particularly the Capital Market in being more innovative, sustainable and resilient due to emerging climate change challenges. Represented by the Head, Economic Development, Ms. Sally Woolhouse, she said the UK is keen to continue to support…

The bullish momentum in the equities market of the Nigerian Exchange Limited (NGX) on Thursday continued as renewed interest in Airtel Africa and 15 others drove the benchmark index to 0.81 per cent higher. As a result, the All Share Index (ASI) rose by 372.57 absolute points, representing a gain of 0.81 per cent to close at 46,604.94 points. Accordingly,…