11
Jul
July 11, 2023
| Investors gain N851bn in one day – Punch |
| Nigeria’s equities market witnessed one of the highest one-day gains in 2023 as investors consolidated on the recent market rally to gain N851bn. The market went up on Monday by 2.48 per cent as the All-Share Index and equities capitalisation rose from 63,040.41 points and N34.326tn respectively to 64,603.69 points and N35.177tn. … . ……………… ….. …….,…. ……… .. .. ….. .. ….. …….. …………….……..Read More |
Ecobank asks FBN to reject Otudeko’s share acquisition – Punch |
| Ecobank has urged First Bank Holdings to reject the acquisition of 4.7 billion shares by a former Chairman of the bank, Dr Oba Otudeko. The bank raised the alarm in a letter written by its Legal Counsel, Kunle Ogunba & Associates, in which it stated that the business magnate, through his affiliated entities, owed the bank N13.5bn……. .. …… .. …. . ……….. ………. …………. . ….. . … …………….……..Read More |
Capitalisation of FBN Holdings hits N800b on rising share mop up – Guardian |
| At the close of trading yesterday, the market capitalisation of the bank rose from N656 billion with a share price of N18.35 kobo as at Monday, July 3, 2023 to N800 billion at yesterday’s market closure. The stock rose to N22.30 kobo in one week or by 18 per cent. Transactions in the shares of FBN Holdings also led market activity with 198.221 million shares valued at N4.417 billion, higher than 131.7 million units, valued at ₦2.6 billion recorded last week Friday………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
Political risk, uncertainty drag down capital importation to $1.13 billion • Lagos, Abuja account for 98.5% of inflows – Guardian |
| The general elections, which were held in the first quarter of 2023, and the uncertainty that came with them might have been responsible for the 28 per cent quarter-on-quarter (Q/Q) drop in the capital flow into the country in the first three months of the year. The total capital imported into Nigeria in Q1 stood at $1.13 billion, which was 28 per cent lower than $1.57 billion recorded in Q1 2022. However, when compared to the preceding quarter, the inflow rose by 6.78 per cent, from $1.06 billion in Q4 2022………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
NGX RegCO, ICAN to Enhance Market Regulation, Investor Protection – Thisday |
| In its bid to further enhance the effectiveness of regulation and investor protection in the Nigerian capital market, NGX Regulation Limited (NGX RegCo) yesterday in Lagos signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of Nigeria (ICAN). Speaking during the signing ceremony held at the Nigerian Exchange Group House, the Chief Executive Officer, NGX RegCo, Ms Tinuade Awe emphasized that regulation had to be effective ……… .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |
SEC Urges FRSC Officers to Shun Ponzi Schemes – Thisday |
| Officers of the Federal Road Safety Corps (FRSC) have been urged to avoid Ponzi schemes and only invest in entities registered with the regulatory body. The Securities and Exchange Commission (SEC) gave the advise during an investor enlightenment programme tagged “Investor Safety” for officers of the Federal Road Safety Corps in its zonal offices across the Federation………. .. …….. . ……… .., … .. .,……. .. …… . ….. . … …………….……..Read More |