By Dipo Olowookere Despite witnessing a positive investor sentiment, the Nigerian equities market closed flat on Tuesday, with the key performance indicators almost remaining unchanged at the close of transactions. The All-Share Index (ASI) was marginally higher by 1.54 points to 47,064.82 points from 47,063.28 points, while the market capitalisation was slightly up by N1 […]
Category: Nigeria Business
Nigeria: Access Bank, ETI, Zenith, 10 Others Generates N5.96 Trillion From Loans to Customers in 3 Years
With the growing lending to private and individual customers, a total of 13 banks have generated N5.96trillion interest income from loans to customers between 2020 and 2018. This has demonstrated banks’ drive to support the Central Bank of Nigeria (CBN) aggressively lending to support the real sector and boosting banks’ earnings. Nigerian Banks with branches […]
INVESTORS AND PSYCHOLOGY OF EARNINGS SEASONS
Sola Oni writes that equity investors are likely to purchase shares of companies that have proposed high dividend The first quarter of the year is always characterized by announcement of audited financial results by the quoted companies on Nigerian Exchange Group PLC (NGX PLC). One of the key drivers of an efficient market is the […]
NGX maintains bullish run; gains N69 billion
Nigerian trading floor The upward trend at the domestic equities market continued on Thursday with a growth of N69 billion. Market capitalisation which opened at N25.411 trillion inched higher by N69 billion to close at N25.480 trillion. Similarly, the All-Share Index rose by 129.11 points or 0.27 per cent to close at 47,286.34 against 47,157.23 […]
IMF projects Nigeria to spend 92% of revenue on interest payments in 2022
President Muhammadu Buhari The Federal Government’s gross debt interest payments (percent of FGN revenue) is projected to grow by 92% in 2022 from 85.5% in 2021. This is according to a report titled “Nigeria Staff Report for the 2021 Article IV Consultation ”, published by the International Monetary Fund. As at the end of September […]
Here’s how 2022 stock picks are doing year-to-date
No doubt, barely one month after, the market has not proven us wrong as year-to-date (YtD) positive return stayed at +10.18percent At the beginning of the year, we showcased Nigerian stocks investors should buy in this year 2022 as a guide to those seeking both capital appreciation and long term returns in form of dividend […]
Zimbabwe: Getbucks Mobilises U.S.$5 Million Capital Injection
Getbucks Financial Services is currently in negotiations for a US$5 million recapitalisation to enable the bank to meet required minimum threshold set by the Reserve Bank of Zimbabwe (RBZ). According to the central bank thresholds Tier 1 banks, large indigenous commercial banks and all foreign banks are now required to have US$30 million minimum capital. […]
Nigerian stocks climb higher in broad-based advance
Nigerian stocks Nigerian stocks extended gains on Friday as the benchmark index rose 0.15 per cent, helping to sustain the positive momentum in the market ahead of the earnings season due to start any moment soon. Equities in Africa’s largest economy hit their peak level since September 2008 on Thursday, another milestone recorded by the […]
Losses in BUA Foods, 20 others dip capitalisation by N79 billion
The Nigerian equities market sustained a sliding profile at yesterday’s transactions, occasioned by losses in the shares of BUA Foods and 20 others, causing market capitalisation to dip further by N79 billion. Yesterday, the All-Share Index declined by 146.15 per cent, representing a decrease of 0.31 per cent, to close at 47,057.24 points. Similarly, the […]
NGX Lists $4bn FGN Eurobonds, N171.17bn Saving Bonds, N720.04bn Securities in January
NGX Group Kayode Tokede The Nigerian Exchange Limited (NGX) listed Federal Government of Nigeria (FGN) $4 billion FGN Eurobonds, N171.17 billion FGN Savings Bonds and N720.04billion securities on its platform in January 2022. The listed securities on the bourse in January are BUA Foods’ N720 billion listing by introduction of 18,000,000,000 ordinary shares of N0.50 […]