Inflation rate to hit 12.37% in February, analysts predict
Omobayo Azeez
March 17, 2020
By Omobayo Azeez Experts in the Nigerian capital market have forecast a rise in February inflation rate from 12.13 per cent in the previous month to 12.37 per cent. This shows a possibility of 0.24 per cent point increase in the yet-to-be released consumer purchasing index report by the National Bureau of Statistics (NBS) for […]
Access Bank lists N15bn green bond on LuxSE
Omobayo AzeezMarch 17, 2020
By Omobayo Azeez Access Bank says it has completed the listing of its N15bn green bond on the Luxembourg Stock Exchange (LuxSE). According to the lender in a statement, the green bond comes at 15.50 per cent fixed rate, adding that the unsecured climate-credential green bond marks a major milestone in the development of the […]
NSE may trigger circuit breaker to check stock market plunge
Businessam StaffMarch 4, 2020
There are indications that the Nigerian Stock Exchange (NSE) may trigger its index circuit breaker if the stock market continues to plunge, in order to protect investors. The market, which had started 2020 on positive note, gaining 7.5 per cent in the first month, has remained bearish since the second month, shedding 9.1 per cent. […]
NSE members approve demutualisation resolutions
Businessam StaffMarch 4, 2020
Members of the Nigerian Stock Exchange on Tuesday passed requisite resolutions for the demutualisation of the exchange at a court ordered meeting and an extraordinary general meeting. At the court ordered meeting, members voted and assented to the re-registration of the exchange as Nigerian Exchange Group Plc; the transfer of its securities exchange licence and […]
DMO opens March savings bond offer
Businessam StaffMarch 3, 2020
The Debt Management Office (DMO) yesterday opened offer for the Federal Government of Nigeria’s savings bond for March 2020 with yields lower than what it offered in February. The offer circular showed that it is offering the 2-year FGN savings bond due March11, 2022, at 4.131 per cent, while the 3-year FGN savings bond due […]
Investors lose N208bn as equities opens week on red
Omobayo AzeezMarch 3, 2020
By Omobayo Azeez Investors in Nigeria are still counting their losses at the stock market as the equities segment of the market continued to depreciate in value following a loss of N208 billion recorded on Monday. The loss is blamed on the raging impact of coronavirus that has left the global equities market […]
IHS seeks $7bn from US IPO
Omobayo AzeezFebruary 27, 2020
By Omobayo Azeez with agency report Telecoms tower company IHS has hired banks to oversee what may be the biggest initial public offering (IPO) of an African company in the US, Bloomberg reported citing sources with knowledge of the matter. IHS has selected Citigroup and JPMorgan Chase as global coordinators for a listing […]
Stock market extends downtrend, posts N31bn loss
Businessam StaffFebruary 27, 2020
Transactions in the Nigerian equity market on Wednesday closed negative, as losing streak extended to four consecutive trading days, following sell-off on some high-valued stocks. Consequently, the market breadth closed negative, recording 11 gainers against 16 losers. Meanwhile, the All-Share Index dipped by 58.72 basis points or 0.22 per cent to close at 26,974.38 index […]
Protect your investments, SEC urges Nigerian soldiers
Omobayo AzeezFebruary 21, 2020
By Omobayo Azeez The Securities and Exchange Commission (SEC) has urged officers and men of the Nigerian Army who have already invested in the capital market to explore all available channels to protect their investments. Mary Uduk, the acting director general of the SEC, made this statement in Lagos during a visit to the […]
11 Plc acquires Lagos Continental Hotel from AMCON
Businessam StaffDecember 24, 2019
11 Plc, formerly known as Mobil Oil Nigeria Plc, says it has finalised discussions with the Asset Management Company of Nigeria to acquire the Lagos Continental Hotel. The company said in a statement filed at the Nigerian Stock Exchange on Monday that the acquisition was subject to terms and conditions between both parties. 11 Plc, […]