CAPITAL MARKET Union Bank Joins IFC’s GTFP, Secures $40m to Boost Trade Finance Union Bank Plc has announced that it has received finance guarantee facility from the International Finance Corporation (IFC), a member of the World Bank Group that will help boost access to finance for local business, enable increased international trade for Nigeria, and…
CAPITAL MARKET SEC to Charge 0.025% Regulatory Fee on Fixed Income Transactions from Jan 1 The Securities and Exchange Commission( SEC) yesterday said it will commence 0.025 per cent regulatory fee on fixed income (Bonds) secondary market transactions effective from January 1, 2022. The Commission in circular said, “This circular is made pursuant to Section…
CAPITAL MARKET Otedola: I Have No Interest in Holding Any Board Position in FBN Holdings, First Bank Group and billionaire businessman, Mr. Femi Otedola has debunked speculations that he is interested in holding any board position in FBN Holdings, First Bank or any of their subsidiaries. Otedola was recently invited by the UK-based Save the…
CAPITAL MARKET Nigeria’s Green Bond Market Exceeds N55Bn Mark as NGX Targets More Issuances Nigerian Exchange Limited (NGX) yesterday announced that the value of Nigeria’s green bonds market has grown to N55.52 billion within 2017 and 2021. The Chief Executive Officer, NGX, Temi Popoola CFA, disclosed this during the Sustainable Finance Training 2021 hosted by…
CAPITAL MARKET Stock Market Drop by 0.68% to Slow Down YTD Performance The stock market of the Nigerian Exchange Limited (NGX) last week closed southward amid sustained weak sentiment, especially on the cement giant shares, Dangote Cement Plc. Amid sustained profit taking activity on the local bourse, the NGX All-Share Index (ASI) fell week-on-week (W-o-W)…
BANKING Banks resilient, record 6.8% profit growth in H1 – Report Nigerian banks recorded 6.8 per cent growth in profit in the first half of 2021 as the sector strived to remain resilient during the COVID-19 pandemic, according to a new report. Afrinvest West Africa said this in the report, titled ‘2021 Nigerian banking sector…
CAPITAL MARKET Equities halt losses as market capitalisation rises by N5 billion Following gains recorded by many blue-chip stocks, the equities market halted its losing streak, closing in an upbeat, yesterday, and causing market capitalisation to appreciate by N5 billion. At the close of trading yesterday, the All-Share Index (ASI) increased by 10.32 absolute points,…
CAPITAL MARKET Investors lose N83 billion as NGX reopens bearish The Nigerian Exchange Limited (NGX) sustained a sliding profile at the reopening of transactions yesterday, as virtually all the blue chip stocks, especially Lafarge WAPCO and Linkage Assurance depreciated in price, resulting in a further decline in market capitalisation by N83 billion. Specifically, market capitalisation…
CAPITAL MARKET Value of Banks’ Stocks Dwindle by N81.04bn on Weak Earnings, FX Challenges Amid foreign exchange challenges, weak corporate earnings and foreign investors exit, the value of listed banks’ stocks on the Nigerian Exchange Limited (NGX) tumbled by N81.04billion in the first 11 months on 2021. As at the close of trading in November…
CAPITAL MARKET Profit-taking Persist on NGX as Market Cap Drops by N112bn The stock market of the Nigerian Exchange Limited (NGX) yesterday extended its investors’ profit-taking position on the heels of sell pressure on MTN Nigeria, Guaranty Trust Holdings Company Plc, Zenith Bank Plc and 31 other stocks. The likes of MTN Nigeria dropped by…