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Daily Business News Brief |  Monday, February 7th,  2022.


Stock Market Gains N579bn in First Week Trading – Thisday

The stock market of the Nigerian Exchange Limited (NGX) maintained its positive trend last week as foreign and high network investors continued to take position in stocks with attractive dividend yields ahead of 2021 financial year dividend declarations.  The stock market of NGX appreciated by N579billion in first-week trading in February as foreign and high network investors renewed interest in high-mid capitalized stocks on the Exchange…………….. read more

SEC wants capital market to attract more Nigerians- Punch

The Securities and Exchange Commission has said it is committed to making the capital market attractive to all Nigerians.  The Director-General, SEC, Mr Lamido Yuguda, said this during a meeting with a team led by the British Deputy High Commissioner in Abuja on Friday, according to a statement on Sunday.  According to him, the commission is implementing various initiatives to ensure that products and offerings in the market are accessible to both the young and old which will further deepen the market…………… read more

Investors commit N3.36tn to FG bonds in 12 months – Daily Independent.

Investors committed about N3.36tn to Federal Government bonds between January and December 2021, according to an analysis of the FGN Bond Auction results available on the website of the Debt Management Office.  Bond oversubscriptions hit N1.61tn within the period under review, indicating the investors’ strong appetite for FGN bonds……………read more

NGX Lists $4bn FGN Eurobonds, N171.17bn Saving Bonds, N720.04bn Securities in January

The Nigerian Exchange Limited (NGX) listed Federal Government of Nigeria (FGN) $4 billion FGN Eurobonds, N171.17 billion FGN Savings Bonds and N720.04billion securities on its platform in January 2022.

The listed securities on the bourse in January are BUA Foods’ N720 billion listing by introduction of 18,000,000,000 ordinary shares of N0.50 each at N40.00 per share on the main board and Nigerian Breweries Plc’s listing additional 78,929,849 ordinary shares of 50 Kobo each emanating from the company’s 2021 scrip dividend option…………..read more

ASHON Boss Urges Stockbrokers to Create Products, Deploy Technology- Thisday.

The Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Sam Onukwue, has advised dealing member firms to review their operational models, create new products and deploy technology to upscale operations and skills.

Investment through the Nigerian capital market has been moderated by the inclement operating environment, characterized by impacts of Covid-19 and its variants on corporate earnings, misalignment of monetary and fiscal policies, high production cost and low purchasing power of consumers, currency devaluation, forex scarcity and high inflationary pressure among others…………….read more


CRR: CBN Debits Zenith Bank, Providus, FCMB, 11 Others N356.1bn  –  Punch

For the first time in 2022, the Central Bank of Nigeria (CBN) has wielded the big stick and debited Zenith Bank Plc, Providu Bank, First City Monument Bank (FCMB) Limited and 11 other banks N356.1billion for failing to meet its 27.5 per cent Cash Reserve Requirement (CRR) obligation. ……………..read more

External reserves slides to four months low at $39.98bn – Punch

The external reserves have fallen below the $40bn mark to the lowest point in over three months, figures from the Central Bank of Nigeria have revealed.  The reserves dropped to $39.82bn on February 2, 2022 from $40.53bn as of December 30, 2021.  The country’s external reserves had jumped from $39.82bn on October 15, 2021, to a high of $41.83bn on October 29, on the back of Eurobond inflow and the International Monetary Fund’s Special Drawing Right………….. read more

NIMC portal breaks down, banks, telcos, passport issuance suffer- Punch

Thousands of telecommunication subscribers nationwide seeking to retrieve their lost Subscriber Identity Module cards or acquire new lines temporarily have been left stranded, following a technical glitch in the National Identity Management Commission portal that has grounded SIM-related services.

The affected NIMC portal enables telecom firms, the Nigerian Immigration Service, banks and other organisations to verify the National Identity Number of their customers before attending to them, in line with the Federal Government’s directive……………… read more

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