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Tag: Nigeria
Nigeria Bond Auctions – May 2022
Three bonds are being issued by the Federal Government of Nigeria in May 2022; FGN MAR 2025(Coupon: 13.53%; Matures in March 2025) FGN APR 2032 (Coupon: Market Determined; Matures in April 2032) FGN JAN 2042 (Coupon: 13.00%; Matures in January 2042) Bids close at 2pm on 16th May 2022, and auctions take place that following […]
Junk status for Africa’s two biggest economies will hit overall growth
According to Royal Institution of Chartered Surveyors’ (RICS) South Africa country manager TC Chetty, the recent credit rating downgrades by global ratings agencies will negatively affect Africa’s two biggest economies – South Africa and Nigeria, and hit Africa’s overall economic growth. TC Chetty, South Africa country manager for the Royal Institution of Chartered Surveyors (RICS). […]
Corruption: Kagina battling bravely, but how sustainable are her heroics?
State structures in African countries are often inhabited by officials who rather line their pockets and please those above them than render a service to the public. In the second and last part of an investigation carried out in Uganda, Ghana and Nigeria, journalists ANAS AREMEYAW ANAS, THEOPHILUS ABBAH and BENON HERBERT OLUKA highlight how […]
Nigeria: Securities Commission set up Investors Protection Fund
The Securities and Exchange Commission (SEC), has leveraged further investors’ confidence and mitigation of losses on the nation’s bourse with the inauguration of a National Investors Protection Fund (NIPF). The quasi investors’ insurance scheme worth, N5 billion, would serve as a buffer for compensating investors for pecuniary losses, liquidation, insolvency, bankruptcy or negligence of non-broker/dealer […]
Nigeria’s Khomeini, Spreading Iran’s Revolution to Africa
The Nigerian army has been accused of massacring a large number of Shia Muslims in the town of Zaria in Nigeria’s northwestern Kaduna state over the course of three days earlier this month. Shia sources say hundreds, perhaps as many as 1,000, have been killed in fighting, but those numbers could not be confirmed independently. […]
Nigeria: Stock Exchange returns go down after Central Bank drops rates
Returns on equity investments on the Nigerian Stock Exchange, NSE, nosedived further in the outgone week by 1.81 per cent, as investors and other financial stakeholders wait for the nation’s fiscal policies. The Central Bank of Nigeria in the outgone week reduced the Monetary Policy Rate to 11 per cent from 13 per cent while […]
Nigeria lead drive at UN to recognise SMEs as key pillar in poverty eradication
Nigeria took centre stage at the United Nations Headquarters in New York on Tuesday, November 24, when Delta State Governor, Dr Ifeanyi Okowa, took the stand to deliver the Keynote Address of the 2015 Africa Industrialisation Day with the theme, “SMEs for Poverty Eradication and Job Creation for Women and Youth.” The Conference Room 7 […]
Nigeria: Stock Exchange Delays Implementation of SEC’s Rule On Nominal Value
Lagos — The Nigerian Stock Exchange (NSE), Friday, said the new rule on par value is not yet effective. The exchange, in a bulletin issued by Tinuade Awe, the head of legal and regulation division, titled: “The effective date of SEC approved rules”, said that a date when the approved rule of the exchange will […]
Nigeria: Elections Over, Stock Market Investors Recover N1.06 Trillion
Lagos — With the general elections over, producing an eventual winner in General Muhammadu Buhari as President-elect, set to replace incumbent Dr. Goodluck Jonathan, confidence may have gradually started returning to the nation’s capital market, judging by data from the Nigerian Stock Exchange (NSE), as seen in the robust recovery in its basic indicators for […]