CAPITAL MARKET
Airtel, 25 others drag stocks down, investors lose N340bn
The Nigerian stock market reversed all of last week’s gains on Tuesday as Airtel Africa Plc and 25 other companies recorded losses. Investors lost N340bn at the end of trading on the floor of the Nigerian Exchange Limited on Tuesday, compared to a total gain of N230bn recorded last week.The NGX All-Share Index fell by 1.66 per cent to 38,507.29 basis points from 39,156.28bps while the market capitalisation dropped to N20.07tn from N20.41tn. The ASI and market capitalisation had last week appreciated by 1.11 per cent. Punch
FMDQ Exchange Admits Mixta Real Estate Commercial Paper
The Nigerian commercial paper (CP) market continues to demonstrate resilience and consistency in providing succour to corporates across diverse sectors by offering a viable platform for these institutions to raise finance to fund their capital requirements. As the leading organiser for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N1.02 billion Series 36 Commercial Paper under its N20.00 billion Commercial Paper Issuance Programme. This Day
BANKING
CBN may start printing Gambia’s currency, says Emefiele
The Governor of Central Bank of Nigeria, Mr Godwin Emefiele, has said that the bank is willing to assist the Central Bank of the Gambia to print its legal tender. Emefiele said this in Abuja on Tuesday during a two-day visit by a delegation from the CBG, led by its governor, Mr Buah Saidy. This was in response to a request by the CBG for a possible partnership to tackle acute currency shortages among other currency management challenges in the country. Punch
ECONOMY
W’Bank: Rising Prices Pushed Seven Million Nigerians Below Poverty Line
The World Bank has stated that inflationary pressure in Nigeria has pushed about seven million Nigerians below the poverty line in 2020 alone . The World Bank gave the data in its latest Nigeria Development Update (NDU), released yesterday, few days after President Muhammadu Buhari in his Democracy Day broadcast claimed on Saturday that his administration had lifted 10.5 million Nigerians out of poverty in the past two years. This Day
NNPC Rallies Gas Producers to Enhance Supply to Gencos
The Nigerian National Petroleum Corporation (NNPC) has begun engagement with gas producers in the country in order to boost gas supply to power generation companies (Gencos). The move is aimed at addressing gas supply constraints being complained by the Generating Companies (Gencos) and help increase generation for improved electricity supply to Nigerians. This Day
CBN Seeks to Slash Importation by 35%
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He said President Muhammadu Buhari’s insistence about five years ago on the diversification of the country’s economic base had already started to yield positive results. This Day
CAPITAL MARKET
Airtel, 25 others drag stocks down, investors lose N340bn
The Nigerian stock market reversed all of last week’s gains on Tuesday as Airtel Africa Plc and 25 other companies recorded losses. Investors lost N340bn at the end of trading on the floor of the Nigerian Exchange Limited on Tuesday, compared to a total gain of N230bn recorded last week.The NGX All-Share Index fell by 1.66 per cent to 38,507.29 basis points from 39,156.28bps while the market capitalisation dropped to N20.07tn from N20.41tn. The ASI and market capitalisation had last week appreciated by 1.11 per cent. Punch
FMDQ Exchange Admits Mixta Real Estate Commercial Paper
The Nigerian commercial paper (CP) market continues to demonstrate resilience and consistency in providing succour to corporates across diverse sectors by offering a viable platform for these institutions to raise finance to fund their capital requirements. As the leading organiser for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N1.02 billion Series 36 Commercial Paper under its N20.00 billion Commercial Paper Issuance Programme. This Day
BANKING
CBN may start printing Gambia’s currency, says Emefiele
The Governor of Central Bank of Nigeria, Mr Godwin Emefiele, has said that the bank is willing to assist the Central Bank of the Gambia to print its legal tender. Emefiele said this in Abuja on Tuesday during a two-day visit by a delegation from the CBG, led by its governor, Mr Buah Saidy. This was in response to a request by the CBG for a possible partnership to tackle acute currency shortages among other currency management challenges in the country. Punch
ECONOMY
W’Bank: Rising Prices Pushed Seven Million Nigerians Below Poverty Line
The World Bank has stated that inflationary pressure in Nigeria has pushed about seven million Nigerians below the poverty line in 2020 alone . The World Bank gave the data in its latest Nigeria Development Update (NDU), released yesterday, few days after President Muhammadu Buhari in his Democracy Day broadcast claimed on Saturday that his administration had lifted 10.5 million Nigerians out of poverty in the past two years. This Day
NNPC Rallies Gas Producers to Enhance Supply to Gencos
The Nigerian National Petroleum Corporation (NNPC) has begun engagement with gas producers in the country in order to boost gas supply to power generation companies (Gencos). The move is aimed at addressing gas supply constraints being complained by the Generating Companies (Gencos) and help increase generation for improved electricity supply to Nigerians. This Day
CBN Seeks to Slash Importation by 35%
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country’s import bill by about 35 per cent. He said President Muhammadu Buhari’s insistence about five years ago on the diversification of the country’s economic base had already started to yield positive results. This Day
