nigeria

OVH ACQUISITION: CAC DISSOLVES NNPC RETAIL, NUEOIL 1. Dissolution by CAC: - The Corporate Affairs Commission (CAC) dissolved NNPC Retail and Nueoil Energy following their acquisition by OVH Energy Marketing Limited. NNPC Retail, incorporated on 21 June 2009, and Nueoil Energy, incorporated...

NIGERIAN BREWERIES N600 BILLION RIGHTS ISSUE AND FX DEBT CHALLENGE: A DETAILED BREAKDOWN The Nigerian Exchange Limited (NGX) recently approved Nigerian Breweries Plc's application to raise N600 billion through a rights issue. This issuance involves offering 22,607,491,232 ordinary shares of 50...

UPCOMING NTB AUCTIONS IN Q4 2024 1. Auction Dates and Amounts: - October 9-10, 2024: - The Central Bank of Nigeria (CBN) will re-issue Nigerian Treasury Bills (NTBs) worth N81.9 billion. - Though smaller compared to other auctions in the quarter, this issuance is significant for...

NGX TRADING SUMMARY FOR WEDNESDAY, AUGUST 28, 2024 Trading Volume and Value: - Shares Traded: A total of 446,609,595 shares were exchanged during the session. - Deals: These transactions took place across 10,148 deals. - Market Value: The total market value of these trades amounted to NGN...

NGX REGCO BACKS FRC ON NEW REPORTING STANDARDS The Chief Executive Officer of NGX Regulation Limited, Olufemi Shobanjo, recently praised the Financial Reporting Council of Nigeria (FRCN) for its leadership in advancing sustainability reporting standards across Africa. This recognition came...

NGX TRADING SUMMARY FOR THURSDAY, AUGUST 22, 2024 Market Activity Overview: - Volume: A total of 393,620,711 shares were traded on the Nigerian Stock Exchange (NGX). - Deals: There were 8,243 deals executed during the session. - Market Value: The total value of transactions was NGN...

FG DEMANDS BVN, NIN FOR $500M BOND SUBSCRIPTION Main Points: 1. New Financial Instrument Requirements: - The Federal Government requires investors in its new domestic dollar bond to provide a Bank Verification Number (BVN) and National Identification Number (NIN). - The bond is part of a...

INT'L BREWERIES SHARE LISTING BOOSTS NGX MARKET CAP BY N599BN Main Points: 1. Market Impact: - The Nigerian stock market capitalization increased by N599 billion due to the listing of shares by International Breweries Plc. - Market capitalization reached N54.047 trillion. 2. Share...

NGX TRADING SUMMARY FOR WEDNESDAY, AUGUST 21, 2024 Overall Market Performance: - Volume: 360,558,689 shares were traded today. - Deals: These trades were executed in 8,813 deals. - Market Value: The total market value of the traded shares was NGN 7,252,158,694.18. - Comparison to Previous Day...

MUTUAL FUNDS PART 7: EXAMPLES OF MUTUAL FUNDS Dear Investors❤️. Welcome to Part 7 of our ongoing series on mutual funds. Over the past several weeks, we have explored various facets of mutual funds, including their types, benefits, and performance metrics. In this installment, we would look...

eTranzact WINS CONTINENTAL AWARD 1. Award Recognition: - eTranzact, a leading payment processing platform, has been honored as Africa’s Most Innovative Payment Services Company of the Year 2024. - The award was presented at the African Brands Innovators Forum, a prestigious event that...

NGX TRADING SUMMARY FOR TUESDAY, AUGUST 20, 2024 Summary: - Trading Volume and Deals: - A total of 1,013,950,890 shares were traded across 8,295 deals on the Nigerian Stock Exchange (NGX). - The total market value of the shares traded was NGN 7,687,606,591.34. - Comparison with Previous...

BANK'S ASSETS RISE TO N121.8TN — ENTERPRISENGR Growth in Banking Sector Assets: - The total assets in Nigeria’s banking sub-sector within the Financial & Professional Services (FPS) Sector increased significantly by 56.14%, reaching a value of ₦121.8 trillion. This growth is a clear indicator...

NGX TRADING SUMMARY FOR FRIDAY, AUGUST 16, 2024: Trading Overview: - Total Volume: 348,952,726 shares - Total Value: NGN 7,464,902,951.30 - Total Deals: 7,677 - Market Capitalization: NGN 55.1 trillion Comparative Performance: - Volume: 29% increase compared to the previous trading day...

RESOLUTIONS PASSED AT THE 37TH ANNUAL GENERAL MEETING (AGM) OF SUNU ASSURANCE NIGERIA PLC, HELD ON THURSDAY, 15th AUGUST 2024: 1. Financial Statements: - The shareholders received and approved the Consolidated Audited Financial Statements of SUNU Assurances Nigeria Plc and its subsidiaries for...

ADVOCATING TELECOM-CAPITAL MARKET COLLABORATION 1. Call for Synergy: - Industry Collaboration: Leaders from the telecommunications and financial sectors have advocated for a stronger partnership between Nigeria’s telecommunications industry and the capital market. This collaboration is seen...

SECURITIES AND EXCHANGE COMMISSION (SEC) UNCOVERS EFFORTS TO TACKLE UNCLAIMED DIVIDENDS Key Issue: Unclaimed Dividends - Total Unclaimed Dividends: The unclaimed dividends currently stand at N215 billion. - Commitment: The Securities and Exchange Commission (SEC) is committed to resolving the...

NGX TRADING SUMMARY FOR THURSDAY, AUGUST 15, 2024 Trading Overview - Total Shares Traded: 271,259,970 shares - Total Deals: 7,233 - Market Value: NGN 3,522,892,918.09 Comparative Analysis - Volume: Declined by 14% compared to Wednesday, August 14, 2024. - Turnover: Declined by 36% from the...

ANALYSTS RAISE CONCERNS ABOUT THE N3.79 TRILLION HELD OUTSIDE NIGERIA'S BANKING SYSTEM 1. Surge in Unbanked Currency: - Current Data: The amount of currency outside Nigeria's banking system increased to N3.79 trillion in June 2024, up from N3.61 trillion in April. 2. Impact on CBN Policies...

ANALYSTS PROJECT SLOWDOWN IN NIGERIA'S INFLATION RATE 1. Inflation Rate Projection: - Current Status: Inflation in Nigeria is projected to slow down in July 2024 compared to June, when it stood at 34.19%. - Upcoming Data: The National Bureau of Statistics (NBS) is expected to release the...