nigeria

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...

SENATE'S PROPOSAL FOR FINES ON UNLICENSED INSURANCE FIRMS 1. Proposed Legislation: - Bill Overview: The Nigerian Senate has proposed a bill titled "Nigeria Insurance Industry Reform Bill, 2024," sponsored by Senator Tokunbo Abiru and 40 other senators. The bill aims to reform the insurance...

NGX TRADING SUMMARY FOR WEDNESDAY, AUGUST 14, 2024 - Total Shares Traded: 315,302,176 shares - Total Deals: 8,365 - Market Value: NGN 5,480,029,481.09 - Market Capitalization: NGN 55.2 trillion Comparative Data: - Volume: 47% decline from Tuesday, August 13 - Turnover: 61% decline from...

MUTUAL FUNDS PART 6: EXAMPLES OF MONEY MARKET FUNDS Dear Investors. As we continue our series on mutual funds, we have explored various types over the past 5 weeks. This week, in Part 6, we will focus on examples of money market funds. These funds are known for their stability and liquidity...

JULIUS BERGER’s SHARE PRICE PERFORMANCE AND FINANCIAL OVERVIEW 1. Share Price Movement: - Current Share Price (August 13, 2024): NGN 130.00 - Price Increase in Two Weeks: +34.02% - Previous Closing Price (End of July 2024): NGN 97.00 - Market Volume on August 13, 2024: 13.17...

NGX TRADING SUMMARY FOR TUESDAY, AUGUST 13, 2024 1. Trading Overview: - Total Shares Traded: 599,246,035 shares - Total Deals: 11,237 deals - Market Value: NGN 13,916,167,908.23 2. Performance Comparison: - Volume Improvement: 20% increase from the previous trading day (Monday...

PRESTIGE ASSURANCE FOCUS ON RETAIL BUSINESS Key Points from the Announcement: 1. Renewed Focus: - Objective: Prestige Assurance Plc aims to enhance its retail business to reach more customers and strengthen its market presence. - CEO's Statement: Rajesh Kamble, Managing Director/Chief...

INVESTORS DEMAND RESOLUTION OF BARBICAN CAPITAL VS. FBN HOLDINGS LEGAL TUSSLE Key Points: 1. Legal Dispute: - Background: Barbican Capital Limited, linked to billionaire businessman Oba Otudeko, has initiated legal action against FBN Holdings. - Allegation: Barbican Capital claims that...

NGX TRADING SUMMARY FOR MONDAY, AUGUST 12, 2024 Overall Market Performance: - Total Shares Traded: 498,271,393 shares - Total Deals: 10,645 - Market Value: NGN 11,770,860,465.23 - Market Capitalization: NGN 55.6 trillion Comparison with Previous Trading Day: - Previous Trading Day: Friday...

DETAILED OVERVIEW OF THE GUINEA INSURANCE PLC FINANCIAL PERFORMANCE REPORT 1. Profit Surge: Guinea Insurance Plc reported a profit after tax of NGN 477.77 million for the year ending December 31, 2023. This represents a significant turnaround from a loss of NGN 83.27 million in the previous...

DETAILED BREAKDOWN OF ECOBANK TRANSNATIONAL INCORPORATED’s FINANCIAL PERFORMANCE FOR THE FIRST HALF OF 2024: 1. Profit After Tax: Ecobank reported a significant profit after tax of NGN 311 billion for the first half of 2024. This represents a remarkable 196% increase compared to NGN 105 billion...

SHAREHOLDERS REACTIONS TO THE MERGER OF UNITY BANK PLC AND PROVIDUS BANK 1. Merger Approval: The Central Bank of Nigeria (CBN) has approved the merger of Unity Bank Plc and Providus Bank. This decision is in accordance with Section 42 (2) of the CBN Act, 2007. The CBN also announced a financial...

RESOLUTIONS PASSED AT AXA MANSARD INSURANCE PLC 32ND ANNUAL GENERAL MEETING HELD ON AUGUST 8, 2024: 1. Approval of Financial Statements: The Audited Financial Statements for the year ended December 31, 2023, along with reports from the Directors, Auditor, and Audit Committee, were received and...

DANGOTE PETROL: MARKETERS WAIT AS DELIVERY DATE EXTENDED AGAIN 1. Delayed Petrol Rollout: The Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, might not start producing petrol on the previously scheduled date of August 12, 2024. This follows earlier projections from...

Quiz Questions: 1. What days of the week do we share an investment book and have a stock analysis? 2. As of August 2024, which company was recently awarded for its exceptional performance in the investment and securities trading sectors at the 2024 World Economic Magazine Awards and the...

NGX TRADING SUMMARY FOR TUESDAY, AUGUST 6, 2024 - Total Shares Traded: 449,210,428 shares - Total Deals: 9,381 deals - Market Value: NGN 6,735,228,795.73 Comparison with Previous Trading Day (Monday, August 5): - Volume Improvement: +39% - Turnover Improvement: +8% - Deals Decline: -4% Market...

CUSTOMER'S DEPOSITS RISE TO N136TN IN Q1 2024 Key Points: 1. Deposit Growth: - Total Deposits: Customers' deposits in Nigerian banks have increased to N136 trillion by the end of Q1 2024. - Recent Increase: This figure represents an 18.26% rise from N115 trillion in 2023 and a 63%...

RETAIL INVESTORS MAY SHUN BANK STOCKS AFTER N1.6TN LOSS Key Points: 1. Market Capitalisation Loss: - Total Loss: Banking stocks on the Nigerian Exchange have lost approximately N1.62 trillion in market capitalisation since the Central Bank of Nigeria (CBN) issued a recapitalisation...

NGX TRADING SUMMARY FOR FRIDAY, AUGUST 2, 2024 1. Trading Volume and Deals: - Total Shares Traded: 210,911,640 shares - Total Deals Executed: 6,603 deals - Market Value: NGN 3,951,265,893.94 2. Comparison with Previous Trading Day (Thursday, August 1, 2024): - Volume Decline: 63%...

INTRODUCTION OF THE CENTRAL SECURITIES CLEARING SYSTEM (CSCS) (1997): A SIGNIFICANT EVENT IN NIGERIAN STOCK MARKET HISTORY EVENT OVERVIEW: - CSCS Launch: The Central Securities Clearing System (CSCS) was introduced in 1997 as a central clearinghouse for securities transactions on the Nigerian...