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Jennete Ugo Anya
- December 16, 2024
NGX RegCo Advocates IFRS Sustainability Standards
NGX Regulation Limited (NGX RegCo) has hosted its annual Issuers’ Engagement Forum, spotlighting the adoption of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards. The event, themed: ‘Adopting the IFRS Sustainability Disclosure Standards: Strategies and Expectations,’ convened industry leaders, regulators, and top executives from Nigeria’s listed companies to chart a course toward enhanced corporate […]
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- December 13, 2024
FG Expands Infrastructure Financing With ₦1trn Sukuk Bond
The federal government has issued six Sovereign Sukuk bonds valued at ₦1.1 trillion (approximately $657.6 million) to fund 124 federal road projects spanning over 5,820 kilometers across the country’s six geopolitical zones. This announcement was made by Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), during the second International Islamic Capital Market […]
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- December 13, 2024
Dangote Sugar Refinery Closes Series 6 , 7 Commercial Paper Offer
Dangote Sugar Refinery (DSR) has closed its Series 6 and 7 commercial paper offerings, aimed at raising up to ₦50 billion as part of its ₦150 billion debt issuance program. This latest move follows the successful issuance of Series 4 and 5 in June 2024, which together raised ₦42.79 billion at attractive discount rates of […]
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- December 13, 2024
Aradel Plans To Acquire 5.14% Equity Stake In Chappal Energies
Aradel Holdings Plc has announced plans to acquire a 5.14 percent equity stake in Chappal Energies Mauritius Limited, marking a strategic move to diversify its portfolio and expand its presence in Africa’s upstream energy sector. This development comes shortly after Aradel’s landmark public listing on the Nigerian Exchange (NGX) at ₦702.69 per share, following over […]
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- December 13, 2024
Banks’ Recapitalisation, New Listings Push NGX Market Cap by ₦18.2trn
The Nigerian Exchange Limited (NGX) has recorded remarkable growth in 2024, with its market capitalisation surging by ₦18.2 trillion, reaching ₦59.107 trillion at the end of November. This represents a 44.5 percent increase from ₦40.918 trillion at the start of the year, despite economic challenges and rising interest rates. The All-Share Index (ASI) also saw […]
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- December 13, 2024
Access Bank To Acquire 100% Stake In Bidvest Bank
Access Bank Plc has entered into a binding agreement with South Africa’s Bidvest Group Limited to acquire a 100 percent equity stake in Bidvest Bank, marking a significant step in the bank’s strategy to expand its presence in Africa and reinforce its position as a key player in the continent’s financial sector. The acquisition aligns […]
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- December 13, 2024
Coronation Group Partners With AFIS To Propel African Financial Innovation, Inclusion
Coronation Group has partnered with the Africa Financial Summit (AFIS) to champion innovation and inclusivity in Africa’s financial sector. The two-day event, which took place between December 9 and 11), brought together over 1,000 financial leaders, including bankers, insurers, fintech experts, and policymakers, to forge a stronger, more inclusive pan-African financial ecosystem. Mr. Aigbovbioise Aig-Imoukhuede, […]
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- December 13, 2024
Sustainable Energy Fund For Africa Expands Donor Base
At the 2024 Africa Investment Forum, the Sustainable Energy Fund for Africa (SEFA) has announced Japan as its latest donor, increasing its donor base to 11 and enhancing its ability to fund vital energy projects across Africa. The announcement was made during a thematic boardroom session that highlighted innovative financial strategies to drive the continent’s […]
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- December 12, 2024
SMEDAN Engages SMEs On Benefits Of New Tax Reform Bills
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a nationwide engagement initiative to educate small and medium enterprises (SMEs) on the implications and benefits of the proposed Tax Reform Bills. This effort seeks to address misconceptions, provide clarity, and ensure informed participation in the legislative process by key stakeholders, including local […]
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- December 12, 2024
SEC Calls For Stronger Corporate Governance In Nigerian Banks
The Securities and Exchange Commission (SEC) has called on Nigerian banks to enhance corporate governance and strengthen risk management frameworks as the sector embarks on a critical recapitalisation process. This initiative is part of a broader strategy to boost investor confidence and ensure long-term stability in the banking industry, valued at over $100 billion. Speaking […]
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