Category Archives: Markets

SEC approves NSEs rule on nominal transfer of shares

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The Securities and Exchange Commission, SEC has approved the Nigerian Stock Exchange, NSE amended rule 15.34 which relates to Nominal Transfer of shares of listed companies in the capital market. The NSE, in a circular disclosed that the approved rule becomes effective on 11th August 2019. According to the rule, “No security listed on the Exchange […]

Nigerian Stock Exchange falls by 82 Billion Naira

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The Nigerian Stock Exchange has again closed bearish on its second trading day for the week. The market which gained slightly on Monday by 0.06%, ended Tuesday’s transactions on a negative note. It would be recalled that throughout last week’s activities, the market only made a gain on Thursday but fell on Monday, Tuesday, Wednesday and […]

Naira loses against dollar at parallel market

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The Nigerian currency – Naira on Thursday lost marginally against the dollar at the Lagos parallel market in South West, Nigeria exchanging at N359 to the dollar. At the Bureau De Change (BDC) window, the naira was sold at N360 to the dollar, while the Pound Sterling and the Euro closed at N481 and N416 […]

NNPC to raise fund from capital market for projects

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The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru, said the corporation would raise funds from the capital market to finance  seven new oil and gas projects in the country. In his keynote address at the ongoing Nigerian Oil and Gas Conference and Exhibition in Abuja, titled: Driving Nigeria’s Oil & Gas Industry […]

“TSA, Ease of Doing Business, spur economic activities”- Expert

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A former Director of Nigeria’s National Institute for Policy and Strategic Studies (NIPSS), Professor Aja Akpuru-Aja, says the implementation of the Treasury Single Account (TSA) and the Ease of Doing Business initiatives by the federal government are achieving the desired results on Nigeria’s economy. He said this in a paper entitled: “Building Transformative Leadership for Nigeria,”presented […]

SEC restates need for corporate governance in business

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The Securities and Exchange Commission (SEC) has restated the need for business owners in the country to embrace corporate governance as a desirable option. The Acting Director-General of SEC, Ms Mary Uduk, in a statement , said that this would help grow their enterprises, improve shareholders’ funds and improve profitability on a sustainable basis. Uduk said […]

CBN Boosts FOREX Market With $210m

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Godwin Emefiele

The Central Bank of Nigeria (CBN) has stepped into the inter-bank sector of the Foreign Exchange market, yet again, intervening in the wholesale segment and other sectors of the market to the tune of $210 million. Figures released by the Bank on Tuesday, April 24, 2018, reveal that the Wholesale sector of the market got […]

SEC Hosts First CMC Meeting 2018

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The Securities and Exchange Commission (SEC) is set to host the First Capital Market Committee (CMC) meeting for 2018. The meeting is scheduled to hold in Lagos from Thursday April 19 to Friday April 20, 2018 at the Federal Palace Hotel, Victoria Island, Lagos.   According to a statement from SEC, the meeting is scheduled […]

Stock market hits two-year high, soars by N218bn

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The nation’s bourse recorded its highest return in over two years on Monday, as the Nigerian Stock Exchange market capitalisation appreciated by N218bn in one session. At the close of trading on Monday, equities’ capitalisation rose to N11.943tn from N11.725tn recorded last Friday, while the NSE All-Share Index closed at 34,652.52 basis points from 34,020.37 […]

CBN special forex window attracts N2.715tn investments

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The Nigerian equities market has attracted N2.715tn investments owing to the foreign exchange window for investors and exporters introduced by the Central Bank of Nigeria on April 21 this year. Stocks have seen a huge rally across board evident in the soaring Nigerian Stock Exchange market capitalisation of listed equities, the All-Share Index, number of […]