Naira edge up on Thursday as the Central Bank of Nigeria (CBN) injected $297 million into the Retail Secondary Market Intervention Sales (SMIS) segment of the foreign exchange market, raising the total intervention for the week to the sum of $547 million. The intervention boosted its rate as it closed at ₦362 to the dollar […]
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At no less than 35 quoted companies have been fined N296 million by the Nigerian Stock Exchange (NSE) over their failure to file financial statements with the NSE as slated in their listing requirement. According to Sunnewsonline, a cursory look at the affected entities show that majority of them are in the insurance subsector, where […]
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The Nigerian equities market recorded 31 laggards at the close of trading on the floor of the Nigerian Stock Exchange on Monday, as the NSE All-Share Index declined by 0.9 per cent. It started the week in the red, as the year-to-date return fell to 35.14 per cent. A total of 11 gainers emerged, as […]
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Both the Securities and Exchange Commission and the Nigerian Stock Exchange have said legal firms should consider listing their shares on the Nigerian Stock Exchange. The Director-General, SEC, Mr. Mounir Gwarzo, and the NSE’s Chief Executive Officer, Mr. Oscar Onyema, said this while discussing ‘Creating secondary market for investors’ at a break out session of […]
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As part of its efforts to attract Nigerians, especially youths, to invest in the Nigerian capital market, the Securities and Exchange Commission (SEC) is partnering the Nigerian Educational Research and Development Council (NERDC) to develop a curriculum on capital market studies to be taught in primary and secondary schools. Speaking to the press during the […]
Read More Nigerian stocks closed higher on Friday for the second consecutive day, lifted by shares in banking, cement and a consumer goods maker. But the stock market cumulatively depreciated by 3.35 per cent this week, owing majorly to profit-taking activities by investors following major gains the past weeks. Reuters reported that the main share index ended […]
Read More The Nigerian stock market recorded a ₦294bn decline on Tuesday, nearing its lowest level in two weeks. The market was dragged down by losses in banking, cement and fast-moving consumer goods sectors, as some investors took profits from previous gains in the market, traders said. The Nigerian Stock Exchange market capitalisation declined to ₦12.786tn from […]
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Acting Executive Chairman of the Economic & Financial Crimes Commission (EFCC), Mallam Ibrahim Magu, has urged the stockbroking community on the platform of the Nigerian Chartered Institute of Stockbrokers to join in the fight against corruption by whistle blowing, whenever they suspect attempts to launder proceeds of corruption or fraud through the stock market in […]
Read More The apex regulatory body of the capital market, the Securities and Exchange Commission (SEC) will hold its quarterly Capital Market Committee (CMC) meeting in Lagos next week in Lagos. The meeting is the second in 2017, where key stakeholders in the capital market meet to discuss issues and developments and proffer solutions to various salient […]
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Zenith Bank Plc, along Ecobank Transactional Incorporated Plc, and Guaranty Trust Bank Plc (GTBank) lead 13 others to emerge as best performing stocks in the banking sector in July. At the close of trading on Monday, July 31, the stock price of Zenith Bank appreciated by 17.8 per cent, while ETI added 18.1 per cent […]
Read More Equities on the domestic bourse ended the last trading day of July with an over-hang of Friday’s decline as the NSE All Share Index (ASI), the key benchmark index dropping 2.77 per cent to settle at 35,844 basis points. This was so because market capitalisation dropped by ₦352 billion to ₦12.354 trillion as heavy profit […]
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The Central Bank of Nigeria (CBN) ended July with another $195 million injection into various segments of the foreign exchange market as part of its strategies to stabilize exchange rate. A breakdown of yesterday’s disbursement shows that $100 million was channeled into wholesale auction at the inter-bank market as the Small and Medium Enterprises (SMEs) […]
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