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JenneteUgo Anya
- August 13, 2024
NGX Lists Two New FGN Savings Bonds
The Nigerian Exchange Limited (NGX) has officially listed two new Federal Government of Nigeria (FGN) savings bonds, offering retail investors a secure and lucrative investment opportunity. These bonds, priced at N1, 000 per unit, were recently unveiled by the Debt Management Office (DMO) in Abuja. As of August 12, investors can subscribe to these savings […]
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- August 12, 2024
FG To Disburse N150bn Palliatives To Manufacturers, MSMEs
The federal government is set to commence the disbursement of the N150 billion presidential palliative program aimed at supporting manufacturers and micro, small, and medium enterprises (MSMEs). This announcement was made by Honourable Minister of Industry, Trade, and Investment, Mrs. Doris Aniete, in a recent statement released over the weekend through her spokesperson, Mr. Terfa […]
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- August 9, 2024
Foreign Portfolio Inflows Into NGX Rise To $161.4m In H1 2024
In the first half of 2024, foreign portfolio inflows into the Nigerian Exchange (NGX) amounted to $161.4 million, marking a 14 percent year-on-year (YoY) increase from the $141.8 million recorded during the same period in 2023. This growth reflects a renewed interest in the Nigerian market by foreign investors, despite ongoing currency challenges and broader […]
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- August 9, 2024
NGX Market Capitalisation Plunges By $27.8bn
The Nigerian Exchange (NGX) has witnessed a significant decline in market capitalisation, dropping by $27.8 billion in just one year after the Central Bank of Nigeria’s (CBN) decision to float the naira. This move, aimed at achieving a unified exchange rate, has had far-reaching consequences for the NGX and the broader economy. In June 2023, […]
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- August 8, 2024
SEC To Unveil Vision For Nigeria’s Capital Market Growth At CMC Meeting
The Director-General of the Securities and Exchange Commission (SEC), Mr. Emomotimi Agama, is set to unveil a comprehensive vision for the development of Nigeria’s capital market during the upcoming Second Capital Market Committee (CMC) Meeting. In a recent released by SEC, it was stated that the event is scheduled for August 14, 2024, in Lagos. […]
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- August 8, 2024
Banking Stocks Propel NGX To A N96.78bn Gain
The Nigerian Exchange Limited (NGX) saw a resurgence of bullish activity on Wednesday, as the All Share Index (ASI) recorded a 0.18 percent increase, translating to a collective gain of N96.78 billion in investor wealth. This marks the first positive performance for the week, driven largely by renewed investor interest in banking stocks, including Sterling […]
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- August 7, 2024
CBN Approves Merger Between Unity Bank, Providus Bank
The Central Bank of Nigeria (CBN) has officially approved the merger between Unity Bank Plc and Providus Bank Limited. This landmark decision marks the first merger under the new CBN mandate for banks to bolster their capital bases, aiming to fortify the stability of Nigeria’s financial system. The merger is now pending approval from the […]
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- August 6, 2024
NGX Loses N93bn As Global Equity Markets Fall
The Nigerian equity market experienced a significant loss on Monday, shedding N93 billion, reflecting a broader decline observed in global markets. The Nigerian Exchange (NGX) saw its All-Share Index and market capitalisation fall by 0.17 percent, closing at 97,582.41 points and N55.40 trillion, respectively. Monday’s trading session was marked by 9,738 transactions, totalling N6.217 billion, […]
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- August 6, 2024
CBN To Implement FX Dutch Auction System To Stabilise Market
In a strategic move to address the persistent foreign exchange (FX) fluctuations in Nigeria’s forex market, the Central Bank of Nigeria (CBN) has announced the introduction of a Retail Dutch Auction System. The system is scheduled to commence on Wednesday, 7 August 2024. This decision comes in response to the significant increase in demand for […]
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- August 6, 2024
SEC Says Bank Recapitalisation Is Key To Nigeria’s Trillion-dollar Economy
Director- General (DG) of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said the bank recapitalisation is for Nigeria’s aspiration to achieve a trillion-dollar economy. Speaking at a recent forum, on the ongoing bank recapitalisation efforts in Abuja, Dr. Agama outlined the crucial steps needed to unlock the nation’s economic potential. Dr. Agama […]
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