The Central Bank of Nigeria (CBN) yesterday intervened in various segments of the inter-bank market with a total of $195milliion. A breakdown of the figure indicates that authorised dealers in the wholesale window segment received a $100 million offer from the bank, while the Small and Medium Enterprises (SMEs) and invisibles windows were allocated $50 […]
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The losses recorded by many stocks listed on the Nigerian Stock Exchange in the last three days of trading have wiped out a total of N780bn in investor wealth. The NSE All-Share Index fell by 2.45 per cent to close at 32,233.80 basis points on Friday, while the market capitalisation of listed equities dropped to […]
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Nigerian Stock Exchange (NSE or “The Exchange”) is pleased to announce the expected review of the NSE 30, and the six sectoral indices of the Exchange, which are NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil & Gas and the NSE Lotus Islamic Indices. These indices are normally reviewed bi-annually (June and […]
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Investors in banking stocks have earned as much as a double of any other average investor as equities continued their most consistent price appreciation in recent years. The NSE Banking Index, which tracks price appreciation in the most active banking sector, indicated average year-to-date return of 51.16 per cent at the weekend, a double of […]
Read More The Nigerian Stock Exchange recorded a rise of 1.03 percent in early trades to more than a two-year high on Thursday on improving sentiment and as investors bought shares from the relatively liquid banking sector. The main share index has been rising since May and is set for its fourth weekly gain. The stock market […]
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Despite the marked improvement in Nigeria’s foreign exchange market, the external sector and the macro-economic fundamentals, Fitch Ratings, yesterday, assigned Nigeria’s upcoming dollar-denominated senior unsecured bonds an expected rating of ‘B+(EXP)’. This indicates that the relative stability in the foreign exchange market with reversal of the slide in gross domestic products, GDP, did not reflect […]
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Oando Plc yesterday concluded a debt-to-equity conversion with the listing of about 396.8 million ordinary shares that resulted from the transaction at the Nigerian Stock Exchange (NSE). The transaction was valued at N3.17 billion at the closing value of the integrated energy group. The listing of the conversion shares increased Oando’s outstanding paid up shares […]
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Senior Special Assistant to the President on Foreign Affairs and Diaspora Abike Dabiri-Erewa has urged Nigerians to take advantage of the first ever 300 million dollars Diaspora bond. Dabiri-Erewa, who made the call on Monday in Abuja in a statement by her Media Assistant, Mr Abdurrahman Balogun, asked Nigerians to buy into the offer. She […]
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The listed bonds of the Federal Government on the Nigerian Stock Exchange as of March 31 this year were ₦6.82tn. The figure, according to findings by our correspondent, was generated from a total of 20 listings on the bourse. Following a series of monetary policy actions to boost liquidity and rate convergence in the foreign […]
Read More The Nigerian equities market continued on its two-week rally on Wednesday, recovering from Tuesday’s loss after oil and cement stocks recorded significant gains. The Nigerian Stock Exchange market capitalisation rose to ₦11.299tn from ₦11.131tn, as a total of 499.107 million shares valued at ₦4.074bn were traded in 6,424 deals. Thus, the All-Share Index rose by […]
Read More The stock market returned to losses on Tuesday after two weeks of massive gains. The NSE market capitalisation declined by ₦131bn to close at ₦11.131tn from ₦11.262tn. A total of 744.992 million shares valued at ₦6.518bn exchanged hands in 7,841 deals. The NSE All-Share Index declined by 1.16 per cent to peg the year-to-date return […]
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The 3,239 bureaux de change (BDCs) approved by the Central Bank of Nigeria (CBN) got $520 million from the apex bank dollar interventions in the last four weeks, correspondent reports. The funds, followed $40,000 per BDC weekly dollar allocations from the CBN, in its commitment to deepen liquidity in the foreign exchange market. A circular […]
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