nigeria

Nigeria’s new Dangote oil refinery is ramping up gasoil exports to West Africa, capturing market share from European refiners. According to traders and shipping data, the $20 billion refinery is currently producing a lower grade of gasoil while awaiting the restart of units needed for cleaner...

As the banking sector recapitalisation intensifies, bank directors have been increasing their stakes in their companies. An analysis of directors' dealings with the Nigerian Exchange Limited from the end of May to June shows that bank chiefs acquired about 1.86 billion shares worth around N39.32...

BOOK REVIEW "BEAT THE MARKET: INVEST BY KNOWING WHAT STOCKS TO BUY AND WHAT STOCKS TO SELL" BY CHARLES D. KIRKPATRICK II OVERVIEW: "Beat the Market" by Charles D. Kirkpatrick II is a comprehensive guide designed to help individual investors make informed decisions about buying and selling...

VFD BOOSTS SHARE CAPITAL TO N633M VFD Group Plc has announced an increase in its share capital to N633 million. This was disclosed by the Company Secretary, Gbeminiyi Shoda, at a recent annual general meeting in Lagos State. Key Details: - Share Capital Increase: The company's share capital...

Trading Volume and Value: - Total Shares Traded: 274,682,596 - Total Deals Executed: 10,112 - Total Market Value: NGN 3,712,965,980.59 Comparison with Previous Trading Day (Friday, June 28): - Volume: 46% decline - Turnover: 62% decline - Number of Deals: 27% improvement Market Capitalization...

AICO Insurance Plc announces its 54th Annual General Meeting to be held on Friday, July 26, 2024, at 11:00 am at The Shell Zenith Hall, MUSON Centre, Marina, Lagos, Lagos State. Agenda: Ordinary Business: 1. Presentation of the Directors' Report, Financial Statements, and Auditors' Report for...

27th JUNE 2024 - Guinness Nigeria Plc has notified the Nigerian Exchange Limited (NGX) and the market that its Board of Directors will meet on Thursday, 25th July 2024. The meeting will consider and approve the audited financial results for the year ending 30th June 2024, among other matters...

The Securities and Exchange Commission (SEC) has launched a revamped e-Dividend Mandate Management System (e-DMMS) portal aimed at reducing unclaimed dividends, which currently amount to N190 billion. The new system introduces a "self-service interface," enabling investors to mandate their...

At the end of today's trading session on the Nigerian Stock Exchange (NGX), a total of 529,369,235 shares in 7,616 deals, corresponding to a market value of NGN 10,493,156,787.96, were traded. Compared with the previous NGX trading day (Wednesday, June 26), today's data shows a 92% improvement...

OVERVIEW Nigerian Breweries PLC is one of the largest brewing companies in Nigeria and a subsidiary of Heineken N.V. The pioneer and largest brewing company in Nigeria, was incorporated in 1946 as "Nigerian Brewery Limited." In June 1949, the company recorded a landmark when the first bottle of...

Key Takeaways: - Forex Crisis Impact: Eterna Plc's Chairman, Gabriel Ogbechie, revealed that the company incurred a N9.4 billion loss due to the foreign exchange crisis in 2023. - Operating Profit Increase: Despite the loss, Eterna reported an operating profit of N7.8 billion, marking a 143%...

June 26, 2024 Key Points: - Board Meeting Scheduled: Access Holdings Plc has announced that its Board of Directors will meet on Tuesday, July 30, 2024. - Agenda: The meeting will focus on the approval of the Group's Audited Interim Financial Statements for the half year ending June 30, 2024...

Key Takeaways: - Profit Projection: PZ Cussons anticipates its 2024 full-year profit to range between £55 and £60 million, despite a 23% depreciation in the value of the Nigerian naira. - Revenue Estimate: The company projects revenue to reach approximately £528 million for the fiscal year...

A fire broke out at Dangote Petroleum Refinery in Lagos' Lekki Free Zone today 26th June. According to Dangote Group's Chief Corporate Communications Officer, Anthony Chiejina, the fire at the effluent treatment plant was swiftly contained. Operations continue without injury to staff, reassuring...

At the end of today's trading session on the Nigerian Stock Exchange (NGX), a total of 276,363,726 shares in 7,597 deals, corresponding to a market value of NGN 4,120,296,026.18, were traded. Compared with the previous NGX trading day (Tuesday, June 25), today's data shows a 24% decline in...

Key Points: - Cornerstone Insurance PLC delays filing of 2023 Audited Financial Statements and Q1 2024 Unaudited Financial Statements. - Delay caused by transition to IFRS 17 Accounting Standards. - New filing deadline set for July 31, 2024. Details: Background: On June 21, 2024, Cornerstone...

A mutual fund is a portfolio of stocks, bonds, or other securities purchased with pooled capital from investors. It's like a basket of investments you buy all at once. Mutual funds offer access to a wide variety of assets, reducing risk compared to individual stock or bond investments. Fund...

Dangote Sugar Refinery Plc has registered a N200bn multi-instrument issuance programme with the Securities and Exchange Commission (SEC), as disclosed in a statement filed with the Nigeria Exchange Limited by Company Secretary Temitope Hassan. Key Details: - The programme underscores Dangote...

Financial analysts predict a stable outlook for Nigeria's upcoming Treasury Bills auction, with rates expected to remain steady despite increased offer amounts and enhanced system liquidity. Key Details: - The Central Bank of Nigeria (CBN) will auction T-Bills totaling NGN 228.72bn, with...

The FCMB-TLG private debt fund has opened for investment, aiming to raise N10bn in Series 1 of its N100bn Programme. This fund, approved by the Securities and Exchange Commission, is managed by FCMB Asset Management Limited with technical support from TLG Capital Investments Limited, UK. Key...