Markets

Securities and Exchange Commission (SEC)

SEC holds first-quarter 2019 CMC meeting

The Securities and Exchange Commission (SEC), has announced that the first Capital Market Committee (CMC) meeting for 2019 would hold from Thursday, March 21 – 22, 2019 at the Eko Hotels and Suites, Victoria Island, Lagos. While the key stakeholders in the capital market will meet on March 21, members of the media would be […]

Read More
Director-General, SEC, Mr. Munir Gwarzo

Group urges Buhari to urgently arraign SEC DG, Gwarzo

Centre for Anti-Corruption and Open Leadership (CACOL) has called on President Muhammadu Buhari to, as a matter of urgency, direct the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to charge the former Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, on the abuse of office by the award of contracts […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE denies listing Lagos State Municipality Note

Contrary to reports that the Lagos State Government’s Municipality Note was issued under a ₦50 billion Medium Term Note Programme by Municipality Waste Management Contractors Limited, the Nigerian Stock Exchange (NSE) has denied listing the note on its platform. The Exchange, in a statement posted on its website, said its “attention has been drawn to […]

Read More
Oil Rebels Back Main Opposition Candidate In Nigeria Vote

Nigeria imported 1.4 bln litres of fuel worth ₦2.03 bln in 2 months

Nigeria, in the last two months, imported a total of 986, 492 metric tons (mt) of petroleum products, representing 1,387,410,984.2 litres of fuel just as frozen fish tops import chart for the month of February 2019 with a total volume of 2.463million mt imported. The figures contained in the shipping position of the Nigerian Ports […]

Read More
Privatise Nigeria’s Oil Industry? Easier Said Than Done

Oil drops as China cuts economic growth target

Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support. U.S. West Texas Intermediate (WTI) crude oil futures were at 56.31 dollars per barrel at 0740 GMT, down 28 cents, or 0.5 per cent, from their […]

Read More
Mohammed Barkindo

Sentiment, speculation, rumours are major forces driving oil market

The Organisation of Petroleum Exporting Countries, OPEC, has identified sentiment, speculation and rumours as major determinants of developments in the global oil market. In his presentation at the Ninth IEA-IEF-OPEC Symposium on Energy Outlooks in Saudi Arabia, OPEC’s Secretary-General, Dr. Mohammad Barkindo stated: “Unfortunately, the oil market can often be subjected to forces which are […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

NSE index declines by 2.12 pct despite high trading volume

The Nigerian equities market extended its negative performance last week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) declined further by 2.12 per cent to close at 31,827.24. Similarly, market capitalisation fell by same margin to close at N11.869 trillion. Last week’s decline was worse than the 0.61 per cent of the previous week. […]

Read More
United Capital

United Capital appointed issuing house for ₦8.5 bln NSP Green Bond

The United Capital Plc has been appointed lead issuing house and financial adviser of the first ₦8.5 billion Corporate Green Infrastructure Bond offer by the North South Power Company (NSP). The Securities and Exchange Commission (SEC) has approved the 15-year tenor bond, which represented the longest tenured bond issued by a corporate in the country. […]

Read More
Traders work at the Nigerian Stock Exchange in Lagos

Newrest ASL Nigeria opts for voluntary delisting from NSE

The number of companies listed on the Nigerian Stock Exchange (NSE) will further reduce as Newrest ASL Nigeria Plc has applied for voluntary delisting from the exchange. Newrest ASL Nigeria Plc has through its Stockbroker, Helix Securities Limited, submitted an application for voluntary delisting of the entire 634million ordinary shares of the company from the […]

Read More
The Nigerian Stock Exchange (NSE)

NSE declines on profit-taking, elections delay

The Nigerian equities market closed negatively last week following investors’ reaction to the postponement of general elections and profit taking. The market had maintained a positive performance since the beginning of February as investors were hopeful that the political risk would be reduce after the elections on February 16. The market rallied 6.6 per cent […]

Read More
The Nigerian Stock Exchange (NSE)

2019 Election: NSE market indices drop further by 0.16 pct

Ahead of the elections, the market indices of the Nigerian Stock Exchange (NSE) on Friday dropped by 0.16 per cent following profit taking. Specifically, the All-Share Index lost 53.13 points or 0.16 per cent to close at 32,515.52, compared with 32,568.65 achieved on Thursday. Also, the market capitalisation which opened at ₦12.145 trillion shed ₦20 […]

Read More
A trader changes dollars with naira at a currency exchange store in Lagos

Naira gains against USD, closes at ₦358 at parallel market

The Naira on Friday gained ₦1 to close at ₦358 to the dollar at the parallel market in Lagos. The News Agency of Nigeria (NAN) reports that the naira traded stronger on the eve of elections than Thursday when it closed at ₦359 to a dollar. The Pound Sterling was sold at ₦470 and the […]

Read More