Business

Bullish sentiment persisted on the equities market  of the Nigerian Exchange Limited (NGX) on Wednesday with a gain of N33 billion, following bargain hunting in Nigerian Breweries Plc and 20 others. Consequently, the All Share Index (ASI) rose by 61.90 absolute points, representing a gain of 0.12 per cent to close at 51,657.56 points. Accordingly, investors gained N33 billion in…

Wema Bank Plc on Friday announced the retirement of its Managing Director/CEO, Mr. Ademola Adebise effective from March 31, 2023 and the appointment of Moruf Oseni, the current Deputy Managing Director as Managing Director/CEO. The bank also announced the appointment of Wole Akinleye, the Executive Director, as the new Deputy Managing Director and Tunde Mabawonku as his replacement. Adebise, according…

Opening the holiday shortened week, the Nigerian equities market  extended its nine-day winning streak as the capitalisation gained N124 billion. The All Share Index (ASI) rose by 228.51 points, representing an increase of 0.46 per cent to close at 49,934.60 points, while the overall market capitalisation value gained N124 billion to close at N27.198 trillion. Market sentiment, as measured by…

The market capitalisation of equities listed on Nigerian Exchange Limited (NGX) rose by N112.56billion at the end of trading on Friday as trading volumes rose. The NGX All-Share Index increased by 0.42per cent from 49,499.43 basis to 49,706.09basis points. The market capitalisation also gained N113billion, rising to N27.03trillion at the close of business on Friday. The market activities were bullish…

In the seventh consecutive session of gain, the stock market of the Nigerian Exchange Limited (NGX) sustained bullish trend as capitalisation appreciated by N13 billion at the end of trading activities on Thursday. The All Share Index (ASI) rose by 24.00 points, representing an increase of 0.05 per cent to close at 49,499.43 points, while the overall market capitalisation value…

The Securities and Exchange Commission (SEC) on Thursday warned investing public to desist from dealing with four blacklisted Italian e-commerce companies. The four blacklisted Italian e-commerce companies are: The Tetris Group Limited, Broker Capitals Limited, MTinvesting and NBIMarkets. SEC in a statement said it got information that the Italian securities regulator, Commissione Nazionale per le Soecieta’ e la Borsa –…

Counterfeits of the newly redesigned naira notes have begun circulating in the Nigerian economy few days after the Central Bank of Nigeria  (CBN) launched it into the banking system.  It would be recalled that the apex bank had said the newly redesigned notes would help to address hoarding, reign in inflation and most importantly, checkmate counterfeiting. It’s interesting to see…

Opening the week, on Monday, equities market of Nigerian Exchange Limited (NGX) extended gains from last week as the main index closed 0.20 per cent stronger on buyers interests in BUA Foods Plc and 13 others. The All Share Index (ASI) rose by 98.67 basis points or 0.20 per cent to close at 49,414.96 points. Accordingly, investors gained N54 billion…

The Federal Government has collected N810.19 billion as Company Income Tax (CIT) for the third quarter (Q3) of 2022. This represents a growth rate of 13.41per cent on a quarter-on-quarter basis when compared to the N714.40 billion that was collected in the second quarter (Q2) of 2022. This disclosure was contained in a CIT report for the third quarter released…

The Securities and Exchange Commission (SEC) has approved the rules for listing on NGX Technology Board. This was announced by the Nigerian Exchange Limited (NGX) on Sunday. The NGX Technology Board is a specialised platform for technology-based companies to list and raise capital on The Exchange. Through the Board, NGX aims to encourage investments in indigenous technologically inclined companies and…