MTN Nigeria has been one of the outstanding performers in the Nigerian Exchange Group (NGX) in 2025, appreciating by 21 percent since the start of the year. Analysts say MTN Nigeria’s stock performance is driven by the recent confirmation of a tariff hike by the federal government. The 21 percent …
Read More »Fidelity Bank Public Offer, Rights Issue to Open Thursday June 20
Nigeria’s 6th largest bank, Fidelity Bank Plc will on Thursday, June 20, 2024 open its public offer and Rights Issue. As part of this capital raising process, Fidelity Bank will same Thursday, June 20, 2024 at the NGX hold a Facts Behind the Offer presentation. According to report, 3.2 billion …
Read More »Fidelity Bank Stock Upgrade Excites Investors
According to The Will newspaper, investors have commended the recent reclassification of Fidelity Bank stock from small price stock to medium price stock. Giving his perspective on the development, Mr Boniface Okezie, the National Co-ordinator, Progressive Shareholders Association of Nigeria,commented, “Fidelity Bank has paid its dues in the financial services …
Read More »NGX Reclassifies Fidelity Bank as Medium Price Stock
Following a bullish run in the stock market in recent months, the Nigerian Exchange Limited (“NGX”) on Friday announced the reclassification of Fidelity Bank Plc. from small price stock to medium price stock. A statement by the NGX said the reclassification became necessary because Fidelity Bank Plc. shares have been …
Read More »Bond Issuance on NGX Hits Over N2.5 Trillion in Six Months
Nigerian Exchange Limited (NGX) said the Federal Government and corporate issuers’ confidence in the capital market continued to firm up in the first half (H1) of 2022 as bond issuances on the Exchange grew to over N2.5trillion. This is despite uncertainty surrounding access to fresh capital for expansion as well …
Read More »Nigerian Telco Stocks Outperform NGX All-Share Index Since Jan 2020
Since the beginning of 2020, Nigerian-listed telecom stocks have outperformed the overall market, with Airtel Africa gaining 483.8 percent and MTN Nigeria gaining 110.5 percent as against 92.9 percent recorded by the NGX All-Share Index. They have also led their Sub-Saharan African peers during this period in terms of US …
Read More »Access Bank to Acquire Kenya’s Sidian Bank 83.4% Stake for N15 Billion
Access Bank Plc has entered into an agreement to acquire the entire 83.4 per cent equity stake held by Centum Investment Plc, a Kenyan-based investment company, in Sidian Bank Ltd, for the sum of about N15 billion ($37 million). Access Bank disclosed the acquisition in a statement sent to the …
Read More »NGX, MTN Nigeria Sign MoU on Capital Market Participation, Financial Literacy
Nigerian Exchange Limited and MTN Nigeria Communications Plc have signed a Memorandum of Understanding to promote financial literacy and enhance retail participation in the Nigerian capital market. A statement said the announcement was made at the signing ceremony led by the Chief Executive Officer, NGX, Mr Temi Popoola and the …
Read More »Access Bank Completes Acquisition of Majority Stake in BancABC Botswana
Access Bank Plc has completed the acquisition of a majority stake of 78.15 percent in African Banking Corporation of Botswana Limited , BancABC Botswana. The bank announced this in a statement signed by Sunday Ekwochi, the company secretary and released by the Nigerian Exchange Limited, NGX on Tuesday. BancABC Botswana …
Read More »Government, Corporates Raise N4.58 Trillion from Fixed Income Market
…As capitalisation dips further by N22 billion amid sell-off Despite the weak macroeconomic situation, the Federal Government and corporate organisations in the country have so far raised N4.58 trillion from the capital market via the fixed income segment between January to June 3, 2021. Data obtained from NGX’s X-Compliance Report …
Read More »