-
JenneteUgo Anya
- November 26, 2024
Banks, Companies Raise Over ₦2.7trn From Capital Market-SEC
The Securities and Exchange Commission (SEC) has revealed that over ₦2.7 trillion has been raised in Nigeria’s capital market by banks and other companies. This amount, which includes equity capital, excludes funds raised by fund managers. Notably, banks accounted for approximately ₦1.7 trillion of the total through recapitalisation exercises. Dr. Emomotimi Agama, the SEC Director-General, […]
Read More
-
- 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, […]
Read More
-
- July 30, 2024
Zenith Bank Set To Raise N290bn In New Capital
Zenith Bank Plc has announced plans to raise approximately N290 billion in fresh capital, exceeding the N230 billion required to comply with the Central Bank of Nigeria’s (CBN) new recapitalisation mandate. The announcement was made during the bank’s rights issue and public offer signing ceremony held on Monday, 29th July, in Lagos. The bank detailed […]
Read More
-
- July 26, 2024
SEC Launches Initiative To Tackle Unclaimed Dividends
The Securities and Exchange Commission (SEC) has announced a new identity management initiative aimed at addressing the issue of unclaimed dividends in Nigeria. This initiative was unveiled during a recent workshop on Identity Management for the capital market, held in Lagos. Director- General (DG) of the SEC, Mr. Emomotimi Agama, emphasised the importance of the […]
Read More
-
- July 23, 2024
Corporates Pull Back From Capital Market As Debt Costs Soar
In response to a series of aggressive interest rate hikes by the Central Bank of Nigeria (CBN), Nigerian corporates have significantly scaled back their participation in the capital market. Between January and May 2024, the CBN raised the monetary policy rate (MPR) by an unprecedented 750 basis points, pushing it to 26.25 percent. This surge […]
Read More
-
- July 15, 2024
SEC Approves NGX’s Investment Platform
The Securities and Exchange Commission (SEC) has granted approval to the Nigerian Exchange Group (NGX) for its new digital investment platform, ‘NGX Invest’. This innovative platform is set to streamline public offerings and rights issues, significantly enhancing the efficiency and accessibility of primary market transactions in the Nigerian capital market. According to a press statement […]
Read More