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Daily Business News Brief | Thursday, June 23rd, 2022


NGX transactions hit N1.51tn in five months – Punch

The total value of domestic and foreign transactions on Nigerian Exchange Limited for the first five months of the year 2022 rose to N1.51tn.  This record shoots higher against N933.65bn, which was the total transactions carried out by both domestic and foreign investors in the corresponding period of January to May 2021.  In a report released by NGX Regulation Limited on behalf of NGX, the ‘Domestic and Foreign Portfolio Investment May 2022’ report showed the transactions as well as trading figures from market operators.  It also showed that domestic investors had continued to hold ground on the floor of the NGX despite rising inflation and currency volatility in the foreign exchange market which remained key drivers of the domestic and foreign portfolio investment………………read more

FMDQ Exchange Trains over 2,600 Stakeholders on Derivatives – Punch

The FMDQ Derivatives Market Development Project (the “Project”) was activated in 2018 to break the ground and facilitate the launch of a standardised derivatives market in Nigeria.  The Project was also created to cater to the risk and investment management needs of diverse market participants. Given the novelty of derivatives as an asset class in Nigeria, a Stakeholder Education and Sensitisation workstream was designated and activated by FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”), targeting investors and market participants……………..read more

Domestic, Foreign Investors Traded N1.51trn Equites in Five Months – Thisday

The total value of domestic and foreign investors transactions on the equities market of the Nigerian Exchange Limited (NGX) in  five months  of 2022 has increased to N1.51 trillion, representing an increase of  from 61.3 per cent from N933.65 billion total transactions carried out in the corresponding period of 2021.  In a report released by NGX Regulation Limited, the Domestic and Foreign Portfolio Investment (FPI) May 2022 report captured these transactions as well as trading figures from market operators. …………..read more

Firm issues N5.7bn commercial paper – Thisday

Neveah Limited, a commodities export company, has announced the quotation of its Series 3 and Series 4 commercial paper issuances on the FMDQ Exchange.  A statement from the firm said the Series 3 and 4 CP issuances were well received and subscribed to by a wide universe of investors including asset managers and High Networth Individual.  It stated that, ‘The issuance of these series is in line with the company’s strategic objective to evolve as a leading dealer and exporter of world class quality agro-commodities and minerals to its clients, while ensuring a transparent business approach…………read more

Fuel scarcity: Marketers rally against NNPC’s monopoly – Punch

Oil marketers have urged the Federal Government to put an end to the monopolistic privilege enjoyed by the Nigerian National Petroluem Corporation, NNPC.  NNPC currently enjoys monopoly on importation and supply of petroleum products into the country. But oil marketers said the market situation was creating more problems for the country.  Marketers under the auspices of the Major Oil Marketers Association of Nigeria, MOMAN, during a briefing with newsmen on Thursday, said as part of permanent measures to curb fuel scarcity, other marketers should also be given a free and fair play in the importation of products…………..read more

Banks record N1.21tn non-performing loans – Punch

The total non-performing loans in the banking sector hit N1.21tn as of the end of February 2022, figures obtained from the Central Bank of Nigeria have revealed.  The CBN stated in reports obtained from the Monetary Policy Committee that the total credit in the sector rose to N25.25tn as of the end of February 2022 from N21.13tn as of the end of February 2021.  It stated that the non-performing loans reflected the case-by-case review of regulatory forbearance, effects of the Global Standing Instruction policy, and sound industry risk management practices…………..read more

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