Halima Aliko-Dangote (PHOTO CREDIT: Official Facebook Page_Dangote Industries) Dangote Cement has appointed Halima Aliko-Dangote, the daughter of the company’s owner and founder, Aliko Dangote, as a non-executive director. The company said the appointment took effect from February 26, 2022, according to its notice to the Nigerian Exchange Limited. Ms Aliko-Dangote will apparently be filling the […]
Category: Nigeria Business
The Wonder of Bank Dividends
Nigeria’s listed banks are beset with liquidity challenges as the Central Bank of Nigeria (CBN) continues to enforce its cash reserve requirement (CRR) regime, while some face capital challenges in the shape of Basel III. Yet the sector’s shares appear resilient. The answer? Dividends. FX Last week, the exchange rate at the Investors and Exporters […]
Investors’ Capital Gains In Stocks Rise To N3.2trn In 2 Months
With the second month of the year rounded up, the Nigerian stock market recorded a total of N3.246 trillion capital appreciation on investors’ investment in the first two months of the year, 2022. Analysts attributed the development to the impressive earnings by major bellwethers and positive corporate actions. Also, market participants found significant value in […]
Why these stocks should be on your watchlist
The Nigerian equity market has continued its bullish start to the year as it posted gains in February, despite global macro-economic worries. The All-Share Index (ASI) in the month of February has gained 1.65% for the month starting at 46,624.67 basis points to ending at 47,394.53 basis points. The market capitalization also grew in similar […]
Ease at sight as NNPC names 48 filling stations to give 24-hour fuel supply *See full list
Determined to improve the fuel supply situation in Nigeria, the Nigerian National Petroleum Corporation Limited (NNPC) Monday identified 48 fuel stations where motorists living in the Abuja city and its environs could get petrol irrespective of the time. The stations are to begin operation Monday night. A statement signed by Group General Manager, Group Public […]
Airtel Africa completes early repayment of its $505 million senior secured notes
Airtel Africa completes early repayment of its $505 million senior secured loan In a regulatory filing seen by Business Insider Africa, the company explained that it used cash balances available at group level to repay the debt which, by the way, was not due for maturity until March 7th, 2023. "Settlement includes all outstanding accrued […]
Nigeria: N53.3tn Banking Sector Contribution Excites Osinbajo
Vice-President Yemi Osinbajo has lauded the Chartered Institute of Bankers of Nigeria (CIBN) for its contribution to the growth of the Nigerian banking sector and the private sector. Speaking at the commissioning of the new Bankers’ House in Abuja, Osinbajo noted that the banking industry contributed about N53.3 trillion to the country’s economy in 2020. […]
NGX Index Rebounds by 0.85% as Oando Gains 10%
By Dipo Olowookere Transactions on the floor of the Nigerian Exchange (NGX) Limited closed bullish on Thursday with a 0.85 per cent growth inspired by Oando, which appreciated by 10.00 per cent. The company led the price gainers’ chart of 23 members yesterday after its share price closed at N5.17 compared with the preceding day’s […]
Ecobank, Learn Africa, GTCO top stocks to watch this week
More corporate reports for the 2021 financial year are due this week through the end of February and the current uptrend in the market will likely hang on them for sustainability if they are generally impressive. Stocks and sectors offering promise of strong return, dividend and scrip should be the focus of retail investors as […]
Gains in Access bank, Guinness, 25 Others Lift Stock Market By N54bn
Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday ended the three-day investors’ profit-taking buoyed by bargain hunting in Access Bank Plc, Guinness Nigeria, and 25 others as the overall market capitalisation gained N54 billion. The overall market capitalisation size gained N54 billion to close at N25.411 trillion from N25.36 trillion it […]