Category Archives: Markets

EFCC arrests Diezani’s cousin, recovers implicating documents

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EFCC arrests Diezani’s cousin, recovers implicating documents

Champion Breweries Plc, FCMB Group Plc, Ecobank Transnational Incorporated, Stanbic IBTC Holdings Plc and Eterna Plc emerged the top five gainers after the close of trading on the floor of the Nigerian Stock Exchange on Thursday. The firms, alongside 16 other companies, boosted market capitalisation by N55bn in one day. The NSE market capitalisation, which […]

Ecobank sacks 50 top managers

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Ecobank sacks 50 top managers

Ecobank Nigeria has sacked about 50 senior managers as part of its cost-cutting measures amid a challenging business environment. The top officials laid off by the pan-African lender include general managers, deputy general managers and assistant general managers, sources within the bank told our correspondent on Wednesday. The banking industry has been battered by the […]

FBN Holding Shares Drop to 13-Year Low at 4.4%

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FBN Holding Shares Drop to 13-Year Low at 4.4%

FBN Holdings Plc shares dropped to its lowest level in almost 13 years on Wednesday, February 24, after the lender by assets warned that earnings for the full year ended December 31, 2015, would be lower than those of 2014. Shares dropped 4.4 per cent to N3.47 per share, which is its lowest since August 2003. […]

Senate Trims N7.6billion TSA Charges to N656.5million

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Senate Trims N7.6billion TSA Charges to N656.5million

The Senate,on Wednesday, February 24, cut the N7.6 billion accrued charges to Systemspecs, commercial banks and Central Bank of Nigeria,CBN, from transfers toTreasury Single Account, TSA, by government agencies to N656.504 million. The Upper Chamber also ordered the CBN to terminate the one per cent charge for any computation. It also ordered the CBN to […]

Highly Capitalized Stocks Shoot Market Value Up by N55billion

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Highly Capitalized Stocks Shoot Market Value Up by N55billion

Big capitalized stocks of Dangote Cement, Nestle Nigeria, Seplat Petroleum Development Company and several others, on Thursday, February 25, drove market capitalization of equities listed on the Nigerian Stock Exchange, NSE, up by N55 billion. Market capitalization had lost N186 billion between Monday and Wednesday this week before the N55 billion gained recorded yesterday. Market breadth closed […]

SEC Pays N30million to Investors of Failed Market Operators

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SEC Pays N30million to Investors of Failed Market Operators

The Director General, Securities and Exchange Commission, SEC, Mounir Gwarzo on Wednesday, February 24, disclosed that over N30 million had been paid to about 530 investors of failed companies in the capital market under the National Investor Protection Fund, NIPF, scheme. The NIPF was launched by commission in 2015, following complaints by market investors who were […]

Stock Market Mid-week Trading Plummets by N68billion

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Stock Market Mid-week Trading Plummets by N68billion

Equities value on the of the Nigerian Stock Marketplunged further by N68 billion at the end of mid-week trading. At the close of trading on Wednesday, February 24, market capitalization decreased from N8.285 trillion to N8.217 trillion. Market turnover closes positive as volume moved up by 33.60 per cent against 94.16per cent decline recorded in the previous session. […]

Naira already devalued, 28 professional associations insist

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Naira already devalued, 28 professional associations insist

The naira is already devalued whether the President Muhammadu Buhari-led Federal Government accepts it officially or not, 28 professional associations registered in the country have said. According to the Association of Professional Bodies of Nigeria, the naira has depreciated significantly against the United States dollar at the parallel market regardless of the President’s recent stance […]