Business

FMDQ Securities Exchange Limited (FMDQ Exchange), on Friday announced the admission for listing on its platform, the Accelerex SPV Plc N2.28 billion Series 1 Fixed Rate Bond under its N20 billion Bond Issuance Programme. Accelerex SPV is a special purpose funding vehicle established by Global Accelerex Limited to raise capital from the debt markets through the listing of debt securities.…

Two financial institutions, Wema Bank Plc and FSDH Merchant Bank Limited in second quarter of 2022 failed to attract capital importation into Nigeria, according to a report by National Bureau of Statistics (NBS). In the report, Heritage Banking Company Limited since Q1 2021 has not attracted capital importation into Nigeria. The “Nigerian Capital Importation” report by NBS disclosed that 18…

The Nigerian Exchange Group Plc. held its 61st Annual General Meeting (AGM) in Lagos on Friday where shareholders approved resolutions by the company’s board of directors. At the meeting, Mr. Apollos Ikpobe and Dr. Okechukwu Itanyi retired by rotation and were re-elected as non-executive directors. Professor Enase Okonedo’s resignation was earlier approved by the board and as such she was…

In the last eight months, the Central Bank of Nigeria (CBN) and Debt Management Office (DMO) have raised N9.2 trillion from the local debt capital market.  Amidst rising balance sheet funding costs, the apex bank sold Treasury bills worth N3.34 trillion from the beginning of the year to date, according to CSL Stockbrokers market note. The investment firm noted that…

Activities in the equities market of the Nigerian Exchange Limited (NGX) on Monday resumed the week with bearish sentiments despite more gainers than losers. As a result, the All Share Index (ASI) decreased by 5.40 basis points or 0.01 per cent to close at 49,676.75 basis points as the market capitalisation lost N3 billion to close at N26.794 trillion. The…

A report by National Bureau of Statistics (NBS) on Monday disclosed that average air passengers pay N60,811.75  for a single flight in July 2022. The bureau in its “Transport Fare Watch” report for July, said the average fare paid by air passengers for specified routes single journey, increased by 8.43per cent on a month-on-month from N56,082.64 in June 2022 to…

The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda has stated that the Commission will continuously collaborate and engage relevant agencies to eliminate completely all Ponzi schemes operations in the capital market. Yuguda who spoke in Abuja at the weekend, said the SEC has been fighting a serious war against Ponzi schemes, and alerting Nigerians on the need to…

Zenith Bank Plc has announced impressive corporate earnings in audited half year (H1) ended June 30, 2022 to maintained its positioned as the most profitable bank in Nigeria. The H1 2022 performance was driven by a combination of core and non-core income growth as the bank benefited from the improved interest rate environment. Consequently, the bank recorded an EPS growth…

The FMDQ Securities Exchange Limited on Friday registered CitiTrust Holdings Plc’s N50billion Commercial Paper (CP) Programme on its platform. The successful registration of the CP Programme on the Exchange in August 2022, following the approval of the Board Listings and Markets Committee, attests to the highly efficient time-to-market and uniquely tailored securities admission service offered by the Exchange. This significant…

The Central Bank of Nigeria (CBN) has released $265 million to airlines to settle outstanding ticket sales, according to a report by Reuters. This was disclosed in a statement on Friday. Airlines have said they have millions trapped in Nigeria due to an inability to access the foreign exchange repatriate funds. Dubai’s Emirates has said it will suspend its service…