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Jennete Ugo Anya
- January 13, 2025
FBN Holdings Shares Rise Despite Loan Dispute With GHL
FBN Holdings recorded an 8.05 percent week-to-date (WTD) gain in its share price, closing at ₦30.20 on January 10, 2025, despite being embroiled in a contentious loan dispute with General Hydrocarbons Limited (GHL). The rise reflects resilience amid ongoing legal and operational uncertainties. The dispute centres on a loan transaction initiated during Mr. Oba Otudeko’s […]
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- January 13, 2025
FG Commits To Strengthening Nigeria’s Capital Market
The federal government has pledged to strengthen Nigeria’s capital market as a cornerstone for economic growth and wealth creation for its citizens. This commitment was reiterated by the Honourable Minister of State for Finance, Mrs. Doris Uzoka-Anite, during a weekend meeting with the board of the Securities and Exchange Commission (SEC) in Abuja. Mrs. Uzoka-Anite […]
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- January 13, 2025
MTN Nigeria’s Stock Soars 20% Amid Capital-Raising Success
MTN Nigeria Communications Plc (MTN Nigeria) has witnessed a significant rally in its share price, climbing over 20 percent month-to-date as of January 10, 2025. The stock, which now trades at N242, marks a strong recovery from its November 2024 low of N170. This resurgence reflects renewed investor confidence, bolstered by the company’s strategic capital-raising […]
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- January 13, 2025
NGX Invests in Ethiopian Exchange To Boost Africa’s Finance
In a landmark move to foster economic development across Africa, the Nigerian Exchange Group Plc (NGX Group) has invested in the Ethiopian Securities Exchange (ESX), Ethiopia’s first stock exchange. At the event in Addis Ababa, Mr. Temi Popoola, the Group Chief Executive Officer of NGX Group, described the Exchange as a critical tool for capital […]
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- January 10, 2025
BoI Secures ₦3.5trn To Strengthen Nigerian MSMEs
The Bank of Industry (BoI), Nigeria’s leading development finance institution, has successfully secured €1.879 billion (approximately ₦3.05 trillion) from international markets in 2024, marking the largest funding deal ever secured by an African development finance institution. This landmark achievement, led by BoI’s Managing Director, Dr. Olasupo Olusi, was realised through a dual-layer guarantee structure developed […]
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- January 10, 2025
Honeywell Flour Mills Surges By 32% MTD In Early January
Shares of Honeywell Flour Mills Plc have risen by 32 percent month-to-date (MTD), making it the top-performing consumer goods stock on the Nigerian Exchange in early January. This remarkable growth follows the brand relaunch led by Flour Mills of Nigeria (FMN), which holds a 71.69 percent stake in Honeywell. The relaunch, introduced in mid-December 2024, […]
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- January 10, 2025
NGX Records N12.17trn In FGN Bonds, Corporate Listings
Nigerian Exchange Limited (NGX) has achieved an impressive milestone in 2024, recording listings worth approximately ₦12.17 trillion, split between Federal Government of Nigeria (FGN) Bonds and corporate instruments. This reflects the government’s strategic reliance on the capital market to raise domestic funds and an active year for corporate listings. FGN Bonds, issued by the Debt […]
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- January 8, 2025
Landmark Africa To Relocate Head Office From Lagos
Landmark Africa, the company behind the renowned Landmark Beach Resort in Lagos, has announced plans to relocate its head office from Lagos and expand its presence to two other African countries and three Nigerian states. This decision follows the controversial demolition of the Landmark Beach Resort in April 2024, which resulted in an estimated financial […]
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- January 8, 2025
OAuGF Uncovers ₦514bn Financial Infractions In NNPCL’s 2021 Financial Operations
The Office of the Auditor-General for the Federation (OAuGF) has uncovered financial irregularities amounting to ₦514 billion in the 2021 financial operations of the Nigerian National Petroleum Company Limited (NNPCL). The findings were detailed in the 2021 Audit Report on Non-Compliance and Internal Control Weaknesses in ministries, departments, and agencies (MDAs) and highlighted significant breaches […]
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- January 8, 2025
GTCO Raises N209bn Through Public Offer
Guaranty Trust Holding Company (GTCO) Plc has successfully raised ₦209.41 billion through a public offer, marking the completion of the first phase of its equity capital raise programme. In a statement released recently, GTCO announced that the public offer was concluded following capital verification by the Central Bank of Nigeria (CBN) and approval of the […]
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