31
May
May 31, 2023
| Bourse welcomes Tinubu, records highest gain in two years •Capitalisation rises by N1.5 trillion in one trading session •Operators link performance to new administration’s forthrightness- Guardian |
| Expectations that President Bola Tinubu’s administration will stimulate activities in the nation’s stock market and restore the exchange on a path of sustainable growth triggered an unprecedented rally in the bourse yesterday, as investors gained N1.5 trillion, the highest daily profit in two years. At the close of transactions, the all-share index (ASI) rose by 2,764.47 points or 4.96 per cent to close at 55,738.35 points, from 52,973.88 points recorded on Friday.. ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
NGX domestic transactions fall by 45% –Report – Punch |
| The level of domestic transactions on the Nigerian Exchange Limited has dropped by 45.30 per cent in 16 years, from N3.556tn in 2007 to N1.945tn in 2022. This was revealed in a report issued by the NGX chronicling activities on the local bourse for April. Data from NGX showed that domestic transactions had grown to N3971tn in 2008, before dropping to N422bn in 2011, and grew past N1tn before dropping to N634bn in 2016. It suffered another dip below the one trillion naira mark in 2019 (N985bn) and stood at N1945tn as of the end of 2022.. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Forex shortage, port congestion affected 2022 operations –NASCON MD – Punch |
| The acting Managing Director of NASCON Allied Industries Plc, Thabo Mabe, has listed emigration, forex shortage and port congestion as some of the challenges that impacted the company’s operations in the 2022 financial year. This is as shareholders approved the sum of N2.65bn as dividends for the 2022 financial year, which is a higher figure compared to the N1.06bn paid as dividends in 2021. . … .. ….. …. .. .. .,……. .. …… . ….. . … …………….……..Read More |
Nestlé appoints new board chairman – Punch |
| Nestlé Nigeria Plc has appointed Mr Gbenga Oyebode as the new Chairman of its Board of Directors. The appointment follows the retirement of Mr David Ifezulike as the Chairman of the Board of the company with effect from May 18, 2023. In a statement, the company disclosed that the appointment was announced during its Annual General Meeting, where the company informed shareholders and stakeholders. ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Stanbic IBTC pays shareholders N45.35 billion dividends – Guardian |
| Stanbic IBTC Holdings Plc pays N45.35 billion total dividends for the financial year ending December 31, 2022, about 17 per cent increase in N38.87 billion paid to shareholders in the 2021 financial year. The group paid an interim dividend of N19.44 billion in 2022 from N12.96 billion in 2021 to shareholders, who approved a final dividend of N25.91 billion, the same amount for the second consecutive year at the 11th yearly general meeting held in Lagos.. ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Zenith Bank Named ‘Best Corporate Governance Financial Services’ In Africa For 4th Consecutive Year – Dailytrust |
| For the fourth consecutive year, Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom. The award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalisation of corporate governance, setting an industry-wide example of best practices in that field… ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |