Wednesday, January 20

Tag: NSE

Nigerian Mutual Funds Hit N1.26 Trillion In 5 Months
Business

Nigerian Mutual Funds Hit N1.26 Trillion In 5 Months

Total net asset of collective investment schemes and funds in Nigeria has risen to N1.257 trillion in the first five months of the year. There is no doubt that COVID-19 has affected various parts of the Nigerian economy and indeed, the world economy. One industry in Nigeria that has remained resilient in spite of it all, is the mutual fund industry. Data released by the Securities and Exchange Commission (SEC) as at May 29, 2019 showed that net asset value of mutual funds rose by N251 billion or 24.95 per cent from N1.006 trillion on December 29, 2019 to N1.257 trillion to close the first five months of the year, on May 29, 2019. The analysis revealed that in spite of the decline of 5.864 per cent witnessed in the Nigerian equities market during the period under review, the Ni...
Coronavirus: Nigerian Stock Exchange Suspends Taading Activity
News

Coronavirus: Nigerian Stock Exchange Suspends Taading Activity

The Nigerian Stock Exchange (NSE) on Monday March 23, announced that it will be suspending trading activities over increased cases of coronavirus in the country. According to the NSE, all its trading floors will be temporarily closed from Wednesday March 25, while remote trading will continue. NSE staff will begin a 30-day remote working plan and will be available across all digital platforms to provide support. All physical meetings within and outside the agency's office premises have been suspended until further notice. Dealing members were asked to continue trading remotely through its electronic platforms such as Fix protocol and Xnet and reach out to their compliance officers if any support is required. The statement reads; Earlier today, we activated a remote working ...
Stock Market Suffers N280 Billion Loss In One Week
Business

Stock Market Suffers N280 Billion Loss In One Week

Equity trading on the floor of the Nigerian Stock Exchange closed last week on a negative note amid the spread of the global pandemic, COVID-19, in the country. The NSE All-Share Index and market capitalisation both depreciated by 2.35 per cent to close last week at 22,198.43 basis points and N11.568tn respectively. All other indices finished lower with the exception of the NSE Banking, the NSE Insurance and the NSE Oil/Gas, which appreciated by 0.29 per cent, 2.80 per cent and 0.22 per cent respectively while the NSE ASeM Index closed flat. A total turnover of 2.804 billion shares worth N32.56bn in 31,715 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 3.964 billion shares valued at N43.70bn that exchanged hands the previous we...
Airtel Africa Lists On NSE With N1.36trn
News

Airtel Africa Lists On NSE With N1.36trn

After last week’s suspension of listing on the floor of the Nigerian Stock Exchange (NSE), Airtel Africa finally listed on Tuesday in a N1.36 trillion ($4.4 billion) floatation, turning the telecom company into the bourse’s third largest stock by market value. Airtel Africa’s shares climbed 10% from their listing price of N363 after the float went live. Some 100,000 shares traded at Tuesday’s debut, helping the main stock index recover from a seven-week low. The company, owned 68.3% by India’s Bharti Airtel, offered shares in its African unit two weeks ago via a London IPO and said it would dual-list in Nigeria, its biggest market in Africa. Airtel Africa, which operates across 14 African countries, had planned to list last week but the bourse postponed the cross-border listin...
Airtel Nigeria Files Application For Listing On NSE
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Airtel Nigeria Files Application For Listing On NSE

Telecommunication giant, Airtel Nigeria has officially filed an application with the Securities and Exchange Commission for the listing of its shares on the Nigerian Stock Exchange. It was revealed by sources at the commission that the telecom company’s application was filed two weeks ago. The Security and Exchange Commission, SEC, was presently examining the application in line with its rules and regulations, the News Agency of Nigeria reported. SEC would continue in its quest to protect the interest of investors in the market in line with its mandate to regulate and develop the capital market, the source said. The application would be given fast consideration if the company met all the requirements for listing on the nation’s bourse . The parent company of the telco, Bharti ...
Airtel, GLO, 9mobile To List On NSE Soon — NCC
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Airtel, GLO, 9mobile To List On NSE Soon — NCC

The Nigerian Communications Commission (NCC) on Monday announced that telecommunications providers such Airtel, GLO, and 9mobile would soon be listed on the Nigerian Stock Exchange (NSE). Sunday Dare, Executive Commissioner, Stakeholders Management in NCC, who stated this in Abuja at an interactive session with newsmen, said the processes had earnestly begun for the telecommunications operators to be listed on NSE. He commended the recent official listing of MTN Nigeria on the Nigerian bourse, adding that it was a step in the right direction in the telecommunications industry. It would be recalled that MTN Nigeria recently completed the registration of 20.3 billion ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC). It said the successful comple...
Buhari’s Inaugaration Fails To Lift Stocks As All Share Index Ends In Red
Politics

Buhari’s Inaugaration Fails To Lift Stocks As All Share Index Ends In Red

Hope that President Muhammadu Buhari’s inauguration on Wednesday would trigger positive sentiments at the Nigerian Stock Exchange (NSE) was dashed as the All Share Index closed Friday’s trading session in the red, down by 0.59 per cent. At the close of transactions last week, analysts had warned investors to be cautious in trading of stocks and that came to the fore with Monday’s trading session resuming on a negative note. Due to profit taking in the shares of MTNN, Dangote Cement and Union Bank of Nigeria (UBN), the All Share Index (ASI) declined by 2.2 per cent while investors lost N302.4 billion as market capitalisation fell to N13.299 trillion. Tuesday’s session, a day to the President’s Inauguration, however, saw the market, the ASI rising by 3.7 per cent to 31,307.00 po...
Nigerian Stock Market Investors Lose N136.88 Billion In Five Days
News

Nigerian Stock Market Investors Lose N136.88 Billion In Five Days

The Nigerian stock market closed Friday's tradings bearish. The exchange market traded negatively throughput the week as key market indices continue tanking. The All Share-Index (ASI) fell by 0.17% in today's tradings compared to 0.24% decline recorded the preceding day. Year-to-Date the ASI was down by 8.24%. The market capitalization closed at N10.842 trillion as compared to N10.860 trillion the previous day. Nigerian stock market investors lost N18.21 billion in today's tradings as sell-off persists. Weak-on-Weak the equity capitalization went down by N136.88 trillion. Sovereign Trust Insurance Plc was the best-performed stock for the day. The stock appreciated by 8.70% to close at 25 Kobo. NEM Insurance Plc went up by 7.76% to close at N2.50. Prestige Assurance Plc gained ...
FG, NSE Collaboration Useful, Says Vp Osinbajo
Politics

FG, NSE Collaboration Useful, Says Vp Osinbajo

The Federal Government will welcome collaboration with the Nigerian Stock Exchange (NSE) in key aspects of improving the economy including the Ease of Doing Business, the privatization of public enterprises, amongst others, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo stated this in Abuja today when a delegation from the Nigerian Stock Exchange led by the Chief Executive Officer, Mr Oscar Onyeama, paid him a courtesy visit at the Presidential Villa. The Vice President said the proposed NSE collaboration with the Federal Government important programmes of the Buhari administration would enhance service delivery and improve transparency in public governance. According to him, “The collaboration with the Federal Government in the Ease of Doing Business, governme...
MTN Board Appointments Cause A Stir
News

MTN Board Appointments Cause A Stir

While welcoming last week’s appointments of the Emir of Kano, Muhammadu Sanusi II and another Nigerian, Dr Aisha Abdullahi to the Board of the MTN Group as a good development, certain segments of the country have argued that it does not reflect the federal character principle. Specifically, they stressed that that appointments did not reflect the geographic diversity and balancing of merit principle in the country. A top official in MTN Nigeria, who pleaded to remain anonymous, disclosed the sentiment shared by some Nigerians in a chat with THISDAY. However, he welcomed the appointments, assuring that more eminent Nigerians could be appointed by the telecom giant, to reflect Nigeria’s market dominance. Ahead of its planned listing on the Nigerian Stock Exchange (NSE), MTN Nige...
Why building collapse persists-NSE chair
News

Why building collapse persists-NSE chair

The Chairman of the  Ibadan branch of the Nigerian Society of Engineers (NSE), Adedamola Falade-Fatila,  has hinged the rising cases of building collapse on quackery and compromise in standards. Falade-Fatila told the News Agency of Nigeria (NAN) in Ibadan yesterday that the problem of collapsed building would cease the moment everyone played the role expected of him. “If every client, builder or developer consults  a registered engineer to design their structures, we won’t find ourselves in this situation,” Falade-Fatila said in response to the recent cases of building  collapse in Lagos and Ibadan. “This is purely the result of quackery and compromises in materials, skilled labour and so on. “It is as they say in computer, garbage in, garbage out, what you put in is what you ...
NSE Lifts Suspension On Unity Bank
News

NSE Lifts Suspension On Unity Bank

The Nigerian Stock Exchange (NSE) on Friday lifted the trading suspension placed on the shares of Unity Bank Plc barely one day after the bank was suspended along with five other listed firms for not filling their accounts in accordance with the post-listing requirements of the exchange. Unity Bank was suspended along DN Tyre & Rubber Plc, FTN Cocoa Processing Plc, International Energy Insurance Plc, Thomas Wyatt Nigeria Plc and Union Dicon Salt Plc. According to the NSE, “pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange , which provides that If an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: send to the issuer a second filing deficiency notification within two b...
NSE Market Indicators Record Marginal Gains
Aware

NSE Market Indicators Record Marginal Gains

Activities on the Nigerian Stock Exchange (NSE) improved on Tuesday with the market indicators appreciating marginally due to price gains by some blue chips. Nigerian Stock Exchange The market capitalisation rose by N242 billion or 2.04 per cent to close at N12.089 trillion against the N11.847 trillion recorded on Monday. Also, the All-Share Index rose by 704.27 points or 2.17 per cent to close at 33,114.44 from the 32,440.17 posted on Monday. Nestle led the price gainers’ table, gaining N95 to close at N1,495 per share. Dangote cement followed with a gain of N5 to close at N210, while International Breweries and Stanbic IBTC added N2 each to close at N32.5 and N44 per share, respectively. GTBank appreciated by N1.75 to close at N37 per share. On the other hand, Total Oil t...
Positive Investors’ Sentiment Lifts Stock Market By 0.28%
News

Positive Investors’ Sentiment Lifts Stock Market By 0.28%

Positive investors’ sentiment on the stock market on Tuesday lifted the Nigerian Stock Exchange, NSE All Share Index higher, ASI by 0.28 percent to close at 34,933.68 points, compared, with the depreciation of 0.03 percent recorded on Monday. The appreciation recorded in the share prices of companies such as FBN Holdings, Dangote Cement, GTBank, Dangote Cement, and Zenith Bank were mainly responsible for the gain recorded in the Index. Similarly, the market capitalisation appreciated by 0.28 percent to close at N12.75trillion, compared with the depreciation of 0.03 percent recorded on Monday which closed at N12.718 trillion. The Exchange recorded 23 gainers against 18 losers, with shares of GTBank , Oando Plc lifting up the NSE Banking and NSE Oil/Gas Indices by 1.41 percent a...
$8.1bn: Senate Clears Us—MTN
News

$8.1bn: Senate Clears Us—MTN

Telecommunication firm MTN, yesterday, refuted claims by Central Bank of Nigeria (CBN) that it illegally repatriated $8.1billion from its Nigerian operations to offshore investors, in collusion with four Nigerian banks. CBN said two days ago that MTN repatriation violated its rule that required such transaction be done with regular Certificates of Capital Importation (CCIs) issued by the apex bank. The apex bank further claimed MTN did the repatriation after illegally converting shareholders’ loan of $399, 594,146 to preference shares. But in a statement by Mr Funso Aina, MTN’s Corporate Affairs Manager, the firm stated: “MTN Nigeria strongly refutes these allegations and claims. No dividends have been declared or paid by MTN Nigeria other than pursuant to CCIs issued by our b...
SEC: Result Of Oando’s Forensic Audit Out Soon
News

SEC: Result Of Oando’s Forensic Audit Out Soon

The Securities and Exchange Commission (SEC) said late on Wednesday night that Nigerians, particularly shareholders of Oando PLC, should expect the release of the primary findings of the forensic audit of the company soon. The statement was coming amid confusion earlier on Wednesday over the sudden lifting of the technical suspension on trading on Oando PLC shares. The Nigerian Stock Exchange (NSE) has already announced that trading on the embattled oil and gas company’s equities would resume on Thursday. The shares of the company were placed on technical suspension on October 23, 2017 following the announcement of a forensic audit in the wake of alleged massive “manipulation of the company’s shareholding structure.” Some petitioners had accused the company of gross misconduct ...
NSE Earmarks N2 Billion To Develop Infrastructure Of Selected Villages
News

NSE Earmarks N2 Billion To Develop Infrastructure Of Selected Villages

The Nigerian Society of Engineers (NSE) on Wednesday said it had earmarked N2 billion for its Community Engineering Project (CEP) aimed at developing infrastructure of selected villages in the country. The President of the society, Mr Adekunle Mokuolu, disclosed this at the closing of the Silver Jubilee of its Ikeja branch, Lagos. Mokuolu said the society would collaborate with local councils and state governments for the execution of the project to open up rural communities. The president said the society was also collaborating with some successful Nigerian engineers in the Diaspora to tap into their wealth of knowledge to enable it execute the project. He urged the federal government to give local engineers a chance to contribute their quota to the development of the nation. ...
Market Indices, Volume Nosedive On Nigerian Stock Exchange
News

Market Indices, Volume Nosedive On Nigerian Stock Exchange

Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday in red, with market indices losing 0.85 percent and volume of shares dropping by 20.25 percent. The News Agency of Nigeria (NAN) reports that major blue chips recorded price depreciation, with Dangote Cement topping the losers’ chart with N8 to close at N270 per share. Forte Oil came second with a loss of N2.40 to close at N46.05, while Julius Berger was down by N1.35 to close at N28.65 per share. Lafarge Wapco declined by N1 to close at N53, while Cadbury decreased by 50k to close at N15.50 per share. Consequently, the All-Share Index dipped 378.27 points or 0.85 percent to close at 44,261.72 compared with 44,639.99 achieved on Friday. Similarly, the market capitalisation which opened at N16.019 t...
2017: Forte Oil Worst Performing Stock On Nigerian Stock Exchange
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2017: Forte Oil Worst Performing Stock On Nigerian Stock Exchange

For the second year running, Forte Oil maintained its leadership as the worst performing stock on the Nigerian Stock Exchange (NSE) in 2017 in percentage terms. Statistics obtained by the News Agency of Nigeria (NAN) from the exchange indicated that the stock, which opened trading in 2017 at N84.43, dropped by 48.50 per cent to close the year at N43.48 per share. NAN reports that Forte Oil in 2016 also emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 per cent. The stock, which opened trading in 2016 at N330, depreciated by 74.42 per cent to close trading at N84.43 per share. University Press followed with a loss of 46.23 per cent to close at N2.28 compared with N4.24 it opened for the year. MRS Oil shed 36.49 per cent to close at 27.46 a...
Oando, 7Up, UAC Exit NSE-30 Index
News

Oando, 7Up, UAC Exit NSE-30 Index

The Nigerian Stock Exchange (NSE) has reviewed the NSE-30, and the seven sectoral indices of the Exchange. These indices are NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Industrial, NSE Oil & Gas, NSE Pension and the NSE Lotus Islamic Indices. Breakdown shows that Dangote Flour Mills Plc, NASCON Allied Industries Plc and Diamond Bank Plc are the new entrants into NSE-30 index, while Oando Plc, 7Up Bottling Co. Plc and UACN Plc also exited the index. However, Oando Plc exited two other indices. These are NSE Oil and Gas Index and NSE Pension Index. The composition of these indices is effective January 1, 2018 after the completion of the year-end review and index rebalancing exercise which will see the entry of some major companies and the exit of others from the various ...
Nestle Nigeria Closes 2017 At N1,555.99 Per Share
News

Nestle Nigeria Closes 2017 At N1,555.99 Per Share

Transactions for the last trading day for 2017 on the Nigerian Stock Exchange (NSE) recorded an upward trend with Nestle Nigeria hitting over N1, 500 mark. Nestle garnered N70.99 to close the year at N1, 555.99 per share. Seplat came second on the gainers’ table followed with a gain of N29.82 to close at N626.22, while Mobil Oil garnered N7.65 to close at N194.60 per share. Further analysis of the price movement table indicated that Unilever appreciated by 79k to close at N41, while International Breweries added 50k to close at N54.50 per share. The All-Share Index improved by 252.45 points or 0.66 per cent to close at 38,243.19 against 37,990.74 achieved on Thursday. Also, the market capitalisation, which opened at N13.519 trillion, rose by N90 billion or 0.67 per cent to c...
NSE All-Share Index Crosses 39,000 Mark
News

NSE All-Share Index Crosses 39,000 Mark

Nigerian Stock Exchange (NSE) All-Share Index on Wednesday crossed 39,000 mark just after the 38,000 mark on Tuesday. The News Agency of Nigeria (NAN) reports that the index rose by 580.88 points or 1.51 per cent to close at 39,075.30 against 38,494.42 achieved on Tuesday. Mallam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., told NAN that the growth, in spite of the forthcoming Yuletide celebration, was due to renewed confidence of foreign investors in the market. Kurfi said that foreign investors were seriously taking position in the nation’s stock market to meet up with their portfolio requirements. He said that they were increasing their stake in stocks with strong fundamentals, noting that most equities on the exchange were trading below their fair valu...
NSE Trading Resumes On Negative Trend, ASI Drops By 0.31%
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NSE Trading Resumes On Negative Trend, ASI Drops By 0.31%

Activities reopened on the Nigerian Stock Exchange (NSE) on Monday on a negative trend, with the All-Share Index shedding 0.31 per cent. The News Agency of Nigeria (NAN) reports that the index lost 115.13 points or 0.31 per cent to close at 37,250.78 against 37,365.91 achieved on Friday. Also, the market capitalisation which opened at N13.009 trillion shed N37 billion or 0.28 per cent to close at N12.972 trillion, amid price losses. Mobil Oil topped the laggards’ table with a loss of N2.10 to close at N167.90 per share. Guinness trailed with a loss of N2 to close at N100, while Stanbic IBTC lost N1.99 to close at N40 per share. Flour Mills shed N1 to close at N34, while Unilever was down by 86k too close at N40.40 per share. Conversely, Nigerian Breweries recorded the hig...
NNPC Chief Maikanti Baru Tasks Engineers On Economic Diversification
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NNPC Chief Maikanti Baru Tasks Engineers On Economic Diversification

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Kacalla Baru, has charged engineering practitioners in the country to provide viable solutions towards fast-tracking Nigeria’s quest to diversify the economy. Dr. Baru gave the charge while speaking at the 30th Conference & Annual General Meeting of the Nigerian Institution of Mechanical Engineers (NiMechE), shortly after he was conferred with the Institution’s Fellowship in Kaduna today. “Mechanical engineers are expected to play a major role in Nigeria’s quest for diversification and industrialization. In the near future, you are expected to provide the necessary tools and equipment for agriculture and transportation system which would drive Nigeria’s industrialization,” Baru said. Descr...
Zenith Bank Declares N531bn Gross Earnings In 9 Months
News

Zenith Bank Declares N531bn Gross Earnings In 9 Months

Zenith International Bank Plc has declared gross earnings of N531.3 billion for the third quarter ended Sept. 30, 2017. This is according to the bank’s third quarter result released by the Nigerian Stock Exchange (NSE) in Lagos on Thursday. The report showed that the gross earnings represented a growth of 39.7 per cent above N380.4 billion achieved in the corresponding period of 2016. The bank’s Profit before Tax (PBT) inched by 30.8 per cent to N152.5 billion from N116.6 billion in the preceding period of 2016. Also, profit after tax (PAT) grew by 36 per cent to N129.2 billion compared with N95.4 billion in 2016. Its net interest income rose marginally by 6.2 per cent to N201.5 billion from N189.8 billion in the preceding period of 2016 and non-interest income surged by 123...
Nine Local Govts Risk Being Submerged In Lagos – NSE
News

Nine Local Govts Risk Being Submerged In Lagos – NSE

The Lagos State Government must intensify its flood management efforts so that communities in Epe, Eti-Osa, Amuwo Odofin, Ojo, Kosofe, Lagos Island, Apapa, Ibeju-Lekki and Ikorodu Local Governments would not be submerged. The Victoria Island branch of the Nigerian Society of Engineers, NSE, gave the advice on Thursday at a conference and paper presentation on the solutions to flooding in Lagos State. It said that a recent research showed that Eti-Osa could be totally submerged in a few years’ time if there were no concrete management of flooding on Victoria Island. It therefore called on the state government to relocate residents in flood prone areas elsewhere before it happened. It also suggested the need for environmentalists, sociologists, lawyers, engineers, economists and ...
SEC In Discussion With MTN Over Listing On NSE – Official
News

SEC In Discussion With MTN Over Listing On NSE – Official

The Securities and Exchange Commission, SEC, has opened discussions with MTN to ensure successful electronic listing of the telecoms company on the Nigerian Stock Exchange (NSE). The Director-General of SEC, Mounir Gwarzo, made the disclosure at the Second Post-Capital Market Committee news conference on Wednesday in Lagos. According to Mr. Gwarzo, the parties have been on the matter since the past two months. He said that the NSE had provided needed ideas to MTN on ways to go about the issue in the interest of retail investors. “MTN Nigeria is back and we are on course as regards its listing on NSE,” Mr. Gwarzo said. The News Agency of Nigeria reports that the telecommunications firm in June said it would list its shares on the NSE this year. Mr. Gwarzo said the applicat...
Med-View Airline Grows Half-Year Profit To N857m
News

Med-View Airline Grows Half-Year Profit To N857m

Med-View Airline Plc has reported a growth of 27 per cent in profit after tax (PAT) to N857 million for the half year ended June 30, 2017, compared with N672 million in the corresponding period of 2016. The results of the only airline listed on the Nigerian Stock Exchange (NSE), indicated that gross revenue grew by 48 per cent from N8.7 billion to N13.007 billion in 2017. Operating cost shot up from N7.748 billion to N9.982 billion, propelled by rise in aviation fuel cost and cost of lease of aircraft for local operations. For instance the airline spent N1.257 billion on lease of aircraft in H1, compared with nothing in the corresponding period of 2016. Similarly, N4.506 billion was spent on aviation fuel, showing an increase of 60.2 per cent above the N2.811 billion recorded i...
National Assembly To Fast Track Laws To Boost Capital Market Operations
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National Assembly To Fast Track Laws To Boost Capital Market Operations

The Vice Chairman, Senate Committee on the Capital Market, Senator Festus Ogwuma, on Tuesday said that the bill to expand the scope of operations of the Chartered Institute of Stockbrokers (CIS) to serve as the hub of all professional associations in Nigeria financial services market would be passed very soon. Ogwuma, who was a guest at the 2017 National Workshop of the CIS in Abuja, also explained that on-going review of the Investment and Securities Act (ISA), bill on demutualisation of the Nigerian Stock Exchange (NSE) and other bills aimed at enhancing globalisation of the capital market would be accorded priority by the National Assembly. According to him, the CISI Bill has passed two readings and the third reading would be done any moment from now. He also noted that under the ...
Nigerian Stock Exchange Delists Ashaka Cement
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Nigerian Stock Exchange Delists Ashaka Cement

Ashaka Cement Plc was Tuesday voluntarily delisted from the Nigerian Stock Exchange (NSE). The company had last year notified the exchange of its intention to exit. The shareholders of Ashaka Cement, who have exercised their option to exit the company prior to the delisting will receive 57 Lafarge Africa Plc shares for 202 Ashaka shares, as well as a N2.00 per share cash consideration. On the other hand, shareholders, who do not want to remain in the unlisted Ashaka Cement will be entitled to receive a payment of N15.74 per share from the company. The Board of Directors of Ashaka Cement Plc had opted for a voluntarily delisting of the company from the NSE in violation of the exchange’s Free Float Deficiency provision of 20 per cent. According to the directors, Lafarge Africa...
Dangote To List Dangote Refinery On The Nigeria Stock Exchange
News

Dangote To List Dangote Refinery On The Nigeria Stock Exchange

The founder of the Dangote Group, has promised to list his Dangote Refinery on the Nigerian Stock Exchange. He also promised to list every single company that would be created by Dangote Group of companies. According to Premium Times, Dangote stated this on Monday in Lagos during a bell ringing ceremony at the Nigerian Stock Exchange as part of activities to mark his 60th birthday. He said he would ensure the listing of more of his companies on the NSE to deepen the market. Dangote said that the group plans to significantly expand its operations across Nigeria within the next 10 years in a move that would result in an increase of shareholders across the group’s companies to over 2 million.  
Fashola Lists New Economy, Infrastructure Budget Funds As Benefits
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Fashola Lists New Economy, Infrastructure Budget Funds As Benefits

FEDERAL MINISTRY OF POWER, WORKS AND HOUSING Office of the Special Adviser on Communications Headquarter, Mabushi P.M.B. 111, Garki - Abuja, Nigeria PRESS RELEASE FASHOLA LISTS NEW ECONOMY, INFRASTRUCTURE BUDGET FUNDS AS BENEFITS OF PROPOSED SOVEREIGN GREEN BONDS · Solar Unit Distribution Programme (SUDIP) will provide up to 12MWs, 6,000 jobs and impact at least 60,000 persons, he says · Advocates that programme be taken to the street level to make the people understand and connect with it · A new economy is possible and people must understand that this is that new economy - Minister As the nation plans to inaugurate the first African Sovereign Green Bond to address climate change and sustainable environment , the Minister of Power, Works and Housing, Mr Babatunde Fashola SAN, ...
Nigeria Stock Market Bounces Back, As Investors Gain N33.9bn
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Nigeria Stock Market Bounces Back, As Investors Gain N33.9bn

The persistent losing streak on the Nigerian Stock Exchange, NSE, was halted, yesterday, as investors gained N33.9 billion propelled by positive activity in Nigerian Breweries Plc, Dangote Cement Plc and Forte Oil Plc. This came as the NSE launched Lagos Chapter of Nigerians in the Square Mile (NISM). NISM, established in 2008, is a membership organisation and think tank made up of outstanding individuals in the financial and professional services sectors in the City of London and has become a quietly and increasingly influential organisation advancing the interests of Nigeria and Nigerians in the world’s leading financial centre. At the close of the day’s trading session, the market capitalisation of all listed equities rose to N8.697 trillion from N8.774 trillion on Tuesday, repres...
Medview Airlines Listed On Nigerian Stock Exchange
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Medview Airlines Listed On Nigerian Stock Exchange

Med-View Airlines has been listed on the Nigerian Stock Exchange today “by introduction”. It is the first airline to list its shares on the local bourse in more than a decade. The listing, on Tuesday, comes 24 years after moribund ADC Airlines was listed on the NSE. ADC Airlines was listed in 1994.