CAPITAL MARKET Lafarge Africa Announces N16.1bn Interim Dividend Lafarge Africa Plc has announced an interim dividend of N16.1billion with a pay-out of N1 per 50 Kobo ordinary shares for nine months ended September 30th, 2021. This dividend to be paid out of the pioneer profits, will be made to shareholders whose names appear in the…
CAPITAL MARKET SEC urges firms to tap Islamic capital market The Securities and Exchange Commission has advised corporate organisations to leverage the Islamic capital market, saying it will help create an enabling environment. The Director-General, SEC, Lamido Yuguda, said this at the 2021 African International Conference on Islamic Finance in Abuja Wednesday, with the theme…
CAPITAL MARKET Cititrust Holdings sells 100% stake in Nigerian subsidiary Cititrust Holdings Plc has announced its strategic decision to divest its 100 per cent holdings in Cititrust Financial Services Plc Nigeria. The company announced this in a statement on Tuesday titled ‘Cititrust Holdings Plc repositions, divests from Cititrust Financial Services Nigeria’. It said the decision…
CAPITAL MARKET Investors gain N643bn in one day as stocks jump The Nigerian stock market began the week on a positive note as investors gained N643.14bn at the end of trading on Monday. The All-Share Index of the Nigerian Exchange Limited jumped by 2.93 per cent to 43,246.87 basis points from 42,014.50bps on Friday. The…
CAPITAL MARKET SEC, SON collaborate on commodities standards The Securities and Exchange Commission and the Standards Organisation of Nigeria have said they will intensify collaboration on the commodities trading ecosystem with the hosting of a commodities standards sensitization workshop. The SEC said in a statement on Sunday that the workshop would hold this week in…
CAPITAL MARKET Public offer: MTN to sell $242m worth of shares in Nigerian business MTN Group said it is planning to sell shares worth about $241.7million from its Nigeria business. MTN on Thursday said it will offer 575 million shares in MTN Nigeria, which listed in Lagos in 2019. “Today we announce our intention to…
CAPITAL MARKET Pension assets up by N7.79bn in September –SEC The Securities and Exchange Commission (SEC) has put the total pension assets under management (AuM) at N7.79 billion as at September 2021. Its Director General, Lamido Yuguda, stated this Wednesday during a webinar, with the theme: “The Imperative of Non-Interest Capital Market for Pension Industry.…
CAPITAL MARKET DMO to issue fresh N250bn Sukuk to finance road projects The Debt Management Office (DMO), on Tuesday, said it is set to issue another Sovereign Sukuk valued between N200-N250 billion, before the end of the year, to finance critical road projects across the country. Sukuk is an investment certificate that represents the ownership…
CAPITAL MARKET SEC tasks stockbrokers on innovative products The Securities and Exchange Commission (SEC) has urged operators to create innovative financial products that would support businesses, boost market liquidity and enable the market to play its role of capital formation in the economy. The commission also expressed its resolve to intensify surveillance of the market…
CAPITAL MARKET Despite Economy Challenges, Dangote Cement, MTN, 7 Others Record N1.29trn Profit in 9 Months Amid macro economy challenges, orchestrated by COVID-19 pandemic, among others, nine most capitalised stocks on the Nigerian Exchange Limited (NGX) reported 22 per cent increase in profit before tax to N1.29 trillion in nine months ended September 30, 2021…