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JenneteUgo Anya
- October 2, 2024
Oando Becomes First Nigerian IOC, Valuation Hits $4bn
Oando Plc has emerged as Nigeria’s first indigenous International Oil Company (IOC), solidifying its position as a key player in Africa’s oil and gas industry. With operations now extending beyond Nigeria’s borders into the São Tomé and Príncipe Exclusive Economic Zone (EEZ), Oando’s recent achievements reflect decades of strategic investments and a relentless drive for […]
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- September 30, 2024
SEC, NGX Approve Flour Mills’ Buyout Of Minority Shareholders
The Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX) have given Flour Mills of Nigeria Plc (FMN) the go-ahead to proceed with the buyout of its minority shareholders. In a recent statement, FMN revealed that its majority shareholder had initiated the process to acquire all remaining minority shares. The company emphasised that […]
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- September 25, 2024
NNPC, NLNG, BoA Among 14 SOEs Prepping For NGX Listing
In a major move toward deepening Nigeria’s financial markets, 14 state-owned enterprises (SOEs) have been shortlisted to list their shares on the Nigerian Exchange (NGX), signalling a transformative step for the country’s economic landscape. Among these key national assets are the Nigerian National Petroleum Corporation (NNPC), Nigerian Liquefied Natural Gas Corporation (NLNG), and the Bank […]
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- September 24, 2024
SEC To Boost NGX Listings With Government-owned Enterprises
The Securities and Exchange Commission (SEC) has announced plans to encourage government agencies and state-owned enterprises to list on the Nigerian Exchange Limited (NGX). Director-General (DG) of SEC, Mr. Emomotimi Agama, disclosed this initiative in a recent interview in Abuja, highlighting its potential to foster economic inclusivity and wealth creation for Nigerian citizens. “Listing on […]
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- September 23, 2024
Access Holdings Proposes 45 Kobo Per Share Interim Dividend, H1 PBT Surges By 108%
Access Holdings Plc, Nigeria’s largest bank by assets, has proposed an interim dividend of 45 kobo per share for its shareholders, following its outstanding financial performance in the first half of 2024. This announcement comes as the group’s profit before tax (PBT) grew by 108 percent year-on-year, reaching N348.9 billion for the period ending June […]
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- September 23, 2024
Guinness Nigeria To Divest 58.02% Equity Stake At N81.60
Guinness Nigeria Plc has received approval from the Nigerian Exchange Limited (NGX) to proceed with a significant block divestment of 1.27 billion ordinary shares, representing 58.02 percent of its issued shares. The shares will be sold at a premium price of N81.60 each, valuing the transaction at approximately N103 billion. As of September 17, Guinness […]
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- 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 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
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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