Category: Capital Market/Banking

Market Capitalisation drops Further By N123b
March 3, 2021 No Responses

Market Capitalisation drops Further By N123b

Transactions on the Nigeria Stock Exchange (NSE) closed on Tuesday on a negative note, due to price depreciation posted by Nestle and other 25 stocks.  Consequently, the benchmark index declined by 233.81 or 0.59 per cent to 39,697.62 from 39,931.63...
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SEC: Ponzi Schemes, Threat To Investor Protection
March 3, 2021 No Responses

SEC: Ponzi Schemes, Threat To Investor Protection

The continued activities of Ponzi schemes have been described as a threat to the protection of investors, the functioning of a fair and orderly financial market as well as the development of the economy at large.  Director General of the...
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Nestle Declares N60.50 Final Dividend For 2020
March 3, 2021 No Responses

Nestle Declares N60.50 Final Dividend For 2020

For the 2020 financial year, Nestlé Nigeria Plc has reported revenue of N287.08 billion. The company’s audited result released on the Nigerian Stock Exchange showed that the revenue was higher by 1.1 per cent in contrast with N284.04 billion recorded...
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Seplat Petroleum Declares $530.5m Revenue In 2020, Recommends $58m For Dividend
March 2, 2021 No Responses

Seplat Petroleum Declares $530.5m Revenue In 2020, Recommends $58m For Dividend

Seplat Petroleum Development Company Plc,Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has announced its audited results for the financial year ended 31 December 2020, recording a reve...
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Greenwich Merchant Bank Appoints Bayo Rotimi MD/CEO
March 2, 2021 No Responses

Greenwich Merchant Bank Appoints Bayo Rotimi MD/CEO

Greenwich Merchant Bank Limited, financial services provider with focus on high-end financial products and services to select clientele in targeted sectors of the economy and with operations covering Corporate Banking, Private Banking, Investment Banking, Asse...
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BUA Cement, Zenith Bank, UBA Lift Market Capitalisation By N69b
March 2, 2021 No Responses

BUA Cement, Zenith Bank, UBA Lift Market Capitalisation By N69b

Transactions on the Nigerian Stock Exchange (NSE) commenced the week and month on Monday on a bullish trend, following uptick in BUA Cement, Zenith Bank and UBA.  Specifically, the market capitalisation increased by N65 billion or 0.33 per cent to...
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Dangote Sugar Refinery Declares N26.70b Profit For 2020
March 2, 2021 No Responses

Dangote Sugar Refinery Declares N26.70b Profit For 2020

For the year ended December 31, 2020, Dangote Sugar Refinery Plc (DSR) recorded profit after tax of N26.70 billion. The company stated this in its audited result released on the floor of the Nigerian Stock Exchange on Monday.  The profit...
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CBN Tasks Bank CEOs, Others To Reset Economy
February 27, 2021 No Responses

CBN Tasks Bank CEOs, Others To Reset Economy

The Governor of the Central Bank of Nigeria (CBN) Mr Godwin Emefiele, has urged Bank Chief Executive Officers and other stakeholders to work together to reset the Nigerian economy to achieve massive growth.  Emefiele gave the advice at a one-day...
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London Stock Exchange Lists Ecobank Nigeria’s $300m Bond
February 26, 2021 No Responses

London Stock Exchange Lists Ecobank Nigeria’s $300m Bond

Ecobank Nigeria on Thursday opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured US$300 million bond.  Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, ...
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Market Capitalisation Down By N65b
February 26, 2021 No Responses

Market Capitalisation Down By N65b

The nation’s bourse retreated on Thursday, reversing two days positive sentiment with a loss of N65 billion following profit taking on banking and consumer goods stocks.  Consequently, the market capitalisation shed N65 billion or 0.31 per cent to close...
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Oando Rallies On NSE, Lifts Market Indices By 0.14%
February 25, 2021 No Responses

Oando Rallies On NSE, Lifts Market Indices By 0.14%

Activities on the Nigerian stock market sustained the upward trend on Wednesday with a gain of 0.14 per cent on bargain hunting in Oando and 21 others.  Specifically, the All-Share Index improved further by 56.44 points or 0.14 per cent...
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Elon Musk Loses $15b In A Day
February 24, 2021 No Responses

Elon Musk Loses $15b In A Day

Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6 per cent on Monday, wiping $15.2 billion from his net worth.Tesla’s decline was fueled in part by Musk’s comments over the weekend that the prices of B...
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‘Cryptocurrency: Central Banks Under Pressure To Create Digital Money’
February 24, 2021 No Responses

‘Cryptocurrency: Central Banks Under Pressure To Create Digital Money’

Following the sudden rise in value and acceptability of Cryptocurrencies and the search by investors for alternative places to put their money, 60 per cent of Central Banks across the globe are under pressure to issue sovereign digital currency.  An...
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United Capital Declares N12.87b Revenue, N7.81b Profit For 2020
February 23, 2021 No Responses

United Capital Declares N12.87b Revenue, N7.81b Profit For 2020

United Capital Plc on Monday announced gross earnings of N12.87 billion for the financial year ended Dec. 31, 2020.  The gross earnings represented an increase of 50 per cent when compared with N8.59 billion achieved in the corresponding period of...
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