nigeria

WEMA BANK: STOCK ANALYSIS Wema is traded on the NGX under the ticker symbol “WEMABANK”. Founded in 1945, it operates over 150 branches across Nigeria. The bank offers services such as transactional accounts, savings accounts, loans, overdrafts, trade finance, and advisory services. Wema Bank...

MARKET BULLETIN: NOTIFICATION OF REGULATORY DELISTING OF THREE LISTED COMPANIES 18 July 2024 NGXREG/IRD/MB45/24/07/18 The Nigerian Exchange Limited (NGX) has announced the delisting of three companies, effective 18 July 2024, due to non-compliance with listing standards. The companies are: 1...

NGX TRADING SUMMARY FOR WEDNESDAY, JULY 17, 2024 At the end of today's trading session on the Nigerian Stock Exchange (NGX): - Volume and Value: A total of 1,099,300,929 shares were traded across 8,720 deals, with a market value of NGN 10,076,409,991.74. This represents a 198% increase in...

PART 4: MUTUAL FUNDS INVESTMENT STRATEGIES Hi There. Welcome back to our comprehensive series on mutual funds investment. In previous parts, we have covered the basics of mutual funds, the types available, and the benefits of investing in them. Now, we are going into specific strategies that...

INTEREST RATE ON NIGERIAN TREASURY BILLS INCREASES TO 21.24% The Debt Management Office (DMO), on behalf of the Central Bank of Nigeria (CBN), conducted a primary market auction (PMA) last week, where the spot rate on Nigeria’s 364-day Treasury bills was increased to 21.24%. This rate hike aims...

NGX LIFTS SUSPENSION ON SECURE ELECTRONIC TECHNOLOGY The Nigerian Exchange (NGX) Limited has lifted the suspension on Secure Electronic Technology Plc, which had been in place since last Monday. Background: - Suspension Reason: Secure Electronic Technology Plc and seven other companies were...

NGX LISTS WEMA BANK’S RIGHTS ISSUE OF 8.572 BILLION SHARES The Nigerian Exchange Limited (NGX) has listed Wema Bank Plc’s Rights Issue of 8.572 billion ordinary shares of 50 Kobo each at N4.66 per share on its Daily Official List. This addition was detailed in the NGX weekly report, as seen by...

NGX TRADING SUMMARY FOR MONDAY, JULY 15, 2024 MARKET OVERVIEW: - Total Volume: 362,429,559 shares - Total Deals: 8,405 - Total Market Value: NGN 7,367,554,181.96 - Market Capitalization: NGN 56.6 trillion Comparison with Previous Trading Day (Friday, July 12, 2024): - Volume: Declined by 14% -...

NIGERIA'S INFLATION RATE INCREASES TO 34.19% AS FOOD PRICES CONTINUE TO RISE Nigeria's annual inflation rate rose to 34.19 percent in June 2024, up from 33.95 percent in May, driven by increasing food prices. The National Bureau of Statistics (NBS) reported that this figure is 0.24 percent...

GEREGU POWER REPORTS N30.2 BILLION PROFIT, UP BY 145% IN 6 MONTHS Geregu Power Plc reported a pre-tax profit of N30.2 billion for the first half of 2024, a 145% increase from the N12.3 billion recorded in the same period of 2023. This figure also represents a 24% increase over the entire...

NGX TRADING SUMMARY FOR FRIDAY, JULY 12, 2024 At the end of the last trading day on the Nigerian Stock Exchange (NGX), a total of 420,896,797 shares were traded in 7,617 deals, amounting to a market value of NGN 6,820,772,893.76. Compared to the previous trading day, there was a 42% improvement...

TANTALIZERS PLC: LISTING OF 1,788,372,094 ORDINARY SHARES OF 50 KOBO EACH AT N0.60 PER SHARE OFFERED THROUGH PRIVATE PLACEMENT Date of Announcement: 12 July 2024 Reference Number: NGXREG/IRD/MB41/24/07/12 Key Details: - Event: Listing of Additional Shares - Company: Tantalizers Plc - Number...

NGX TRADING SUMMARY FOR THURSDAY, JULY 11, 2024 Key Details: - Trading Volume and Value: 296,731,688 shares traded in 7,126 deals, totaling NGN 5,447,738,816.31. - Comparison with Previous Day: - Volume: 68% decline - Turnover: 54% decline - Number of Deals: 13% decline - Current Market...

UNITED CAPITAL LAUNCHES NAIRA-DENOMINATED FUND FOR HIGH-VALUE INVESTORS United Capital Asset Management, a subsidiary of United Capital Plc, has introduced the United Capital Stable Income Fund, a naira-denominated mutual fund aimed at high-value investors seeking low-risk, stable returns...

NGX UNVEILS IMPACT BOARD FOR SUSTAINABLE INVESTMENTS The Nigerian Exchange Limited (NGX) has launched the Impact Board, a platform for listing sustainability instruments, aiming to integrate sustainability into Nigeria’s capital market. Key Details: - Launch Event: Held during the eighth...

UPDC REAL ESTATE INVESTMENT TRUST (UPDCREIT): STOCK ANALYSIS COMPANY OVERVIEW: - UPDCREIT is Nigeria's largest REIT by net asset value. Its diversified portfolio primarily focuses on real estate assets in Lagos. The company operated first as a department, then as a division of UAC of...

AIICO INSURANCE SURPASSES N200BN IN CLAIMS PAYMENTS AIICO Insurance Plc has paid out over N200 billion in claims and benefits over the past five years, highlighting its commitment to customer satisfaction and reliability. Key Details: - Total Claims Paid: N200.9 billion from 2019 to 2023. -...

NGX TRADING SUMMARY FOR WEDNESDAY, JULY 10, 2024 At the end of today's trading session on the Nigerian Stock Exchange (NGX): - Total Shares Traded: 935,148,864 shares in 8,160 deals - Market Value: NGN 11,839,828,382.50 - Comparison with Previous Day: - Volume increased by 207% - Turnover...

ACCESS HOLDINGS EXPLAINS WHY ITS ISSUED SHARES PRICE IS HIGHER THAN MARKET PRICE As of June 9, 2024, Access Holdings' share price stood at N19.35, which is 2% lower than the N19.75 price set for the ongoing rights issue. On July 8, the opening day of the rights issue, the share price opened at...

C & I GIVES REASON FOR DELAY IN ITS AUDITED FINANCIAL STATEMENTS C & I Leasing Plc has announced a delay in filing its 2023 annual financial statements. The company had planned to meet the regulatory filing deadline but encountered delays due to the need for approvals from multiple regulators...