Excelsior Shipping proposes N105.2bn deal to buy minority shares in Flour Mills
Post AMUGE
September 29, 2024
Cynthia Ezekwe Agro-allied heavyweight Flour Mills of Nigeria (FMN) Plc has informed the Nigerian Exchange Limited (NGX) and its shareholders of Excelsior Shipping Company’s offer to acquire the remaining minority shares in the business. Excelsior, FMN’s current major shareholder, holds 2.59 billion shares, representing a 63 percent stake in the company with a market value […]
SEC seeks to boost NGX listings with state-owned enterprises
Post AMUGESeptember 20, 2024
Business a.m. The Securities and Exchange Commission (SEC) has urged government agencies and state-owned enterprises to list on the Nigerian Exchange Ltd (NGX). Emomotimi Agama, the director-general of the Securities and Exchange Commission, in a recent interview with news outlets in Abuja, emphasised the importance of such listings for deepening the nation’s financial markets and […]
Post AMUGESeptember 2, 2024
SEC mobilises special units to tackle N215bn unclaimed dividends
Post AMUGEAugust 19, 2024
Business a.m. Emomotimi Agama, director general, Securities and Exchange Commission (SEC); Temi Popoola, group chief executive officer, Nigerian Exchange (NGX Group); and Amos Isaac Azi, chairman, Investments and Securities Tribunal, at the second Capital Market Committee meeting in Lagos, recently. The Securities and Exchange Commission (SEC) has assured that, barring unforeseen circumstances, it will address […]
Nigerian investors missing out on N215bn dividends, says SEC
Post AMUGEAugust 16, 2024
Business a.m. Unclaimed dividends in Nigeria’s financial market have risen to N215 billion as of March 2024, indicating a significant rise in unclaimed payments, as revealed by the Securities and Exchange Commission (SEC). Emomotimi Agama, the newly appointed director general of SEC made the disclosure during the second 2024 Capital Market Committee (CMC) meeting held […]
Analysts upbeat on stock, fixed income markets outlook for H2’24
Post AMUGEJuly 22, 2024
Phillip Isakpa In London, UK Analysts at Lead Capital are upbeat about the outlook for the capital and fixed income markets for the second half of the year. In a note sent to Business a.m. titled “Nigeria in the First Half of 2024 and Outlook for the Second Half of the Year”, analysts at Lead […]
CBN to pursue dovish interest rate hike in H2’24, say analysts
Post AMUGEJuly 16, 2024
ONOME AMUGE IN LAGOS Financial analysts at Cowry Asset have suggested that the Central Bank of Nigeria (CBN) is expected to implement a moderately dovish interest rate hike, ranging from 25 basis points to 75 basis points in the second half of 2024, against the consecutive hawkish rate hikes witnessed in the first half of […]
Access Holdings shareholders vote confidence in N351bn rights issue
Post AMUGEJuly 10, 2024
Business a.m. L-R: Morounke Olufemi, group chief financial officer, Access Holdings Plc; Temi Popoola, group CEO, NGX Group; Bolaji Agbede, acting group managing director /CEO, Access Holdings Plc; Umaru Kwairanga, group chairman, NGX Group; Aigboje Aig-Imoukhuede, chairman, Access Holdings Plc; Ahonsi Unuigbe, chairman, Nigerian Exchange Limited; and Roosevelt Ogbonna, group managing director/CEO, Access Bank Plc, […]
Sterling Holdings secures shareholders’ nod for fresh N200bn capital injection
Post AMUGEJuly 1, 2024
Cynthia Ezekwe Shareholders of Sterling Financial Holdings Company Plc have granted the board’s request to raise fresh funds amounting to N200 billion, set to fortify the organisation and pave the way for sustained growth. This authorisation was granted at the inaugural annual general meeting (AGM) of the company, which took place recently. Addressing investors at […]
FCMB-TLG private debt fund ushers investment opportunities with N10bn Series 1 launch
Post AMUGEJune 25, 2024
Business a.m. FCMB Asset Management Limited (FCMBAM) recently held a signing ceremony for Nigeria’s first Naira denominated private debt fund, the FCMB-TLG private debt fund, enroute to raising N10 billion under Series 1 of its N100 billion programme size. The Fund, which has been approved by the Securities and Exchange Commission (SEC), is sponsored and […]