Profit-Taking Persist as Stock Market Drops by N18bn – Punch
Transactions on the Nigerian equities market yesterday closed on a negative note, taking the trading losses to the third consecutive day as investors’ profit-taking down market by N18 billion. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) dipped by 35.43 basis points, representing a decline of 0.09 per cent, to close at 39,184.18 basis points. Similarly, the overall market capitalisation value lost N18 billion to close at N20.416 trillion…………………read more
Stock market investors gain N332bn in one month – Punch
Stock investors in the Nigerian Exchange Limited gained N332bn in August as the market capitalisation of equities market grew to N20.43tn. They, however, lost N18.46bn on Wednesday, the first trading day of September.The NGX All-Share Index decreased by 0.09 per cent to close at 39,184.18 basis points while the market capitalisation dropped to N20.42tn…………………read more
Lagos to secure 185bn bond following positive financial ratings- Punch
The Lagos State government has said that it is in the process of securing bonds to the tune of N185bn following positive rating approvals from rating agencies due to increased bondholder’s confidence. This was disclosed by the state’s Debt Management Office which noted that the automation of the office had further assisted the agency’s financial transaction processes, placing the state in good light among other states in the country……………….read more
Foreign Investors Renewing Confidence in Economy – Punch
The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo yesterday said the economy was coming back strongly adding that foreign investors are making a commitment to invest in the country. Adebayo, during a meeting with Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA in Abuja, said, “Nigeria is open for business and our investment climate is continually improving…………………..read more
CBN appoints new directors – Punch
The Central Bank of Nigeria has confirmed the appointment of eight directors including Osita Nwanisobi as the Director, Corporate Communications Department. In a statement titled ‘CBN names Nwanisobi, 7 others departmental directors’ released on Wednesday, the apex said that all the appointments took effect from August 25. It read in part, “The management of the Central Bank of Nigeria has confirmed the appointment of Mr Osita Nwanisobi as the Director, Corporate Communications Department, with effect from August 25, 2021………………read more
OPEC Leaves Oil Output Unchanged, Forecasts Higher Demand- Thisday
The Organisation of Petroleum Exporting Countries (OPEC), led by Nigeria’s Sanusi Barkindo and its allies known as OPEC+, yesterday agreed to adhere strictly to their existing policy of gradual oil output increases in the coming months. However, the oil producers’ group revised its 2022 demand outlook upwards, even as it stated that it was sticking with its decision in July to phase out record output cuts by adding 400,000 barrels per day (bpd) of oil a month, continuing in October………………..read more