Tag Archives: Nigerian Exchange Limited (NGX)

The Nigerian Exchange Limited (NGX) stock market experienced a significant decline last week, with its market capitalization shedding a substantial N539 billion. This downturn was primarily attributed to profit-taking activities in large-cap stocks, which further eroded investor confidence amid prevailing macroeconomic uncertainties and global economic challenges. This decline reflects renewed …

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 …

The Nigerian Exchange Limited (NGX) has listed Wema Bank Plc on the NGX 30 Index following the outcome of the 2022 market index review. This was disclosed by the NGX in a statement detailing the results of its full-year market index reviews. Note that the NGX 30 Index tracks the …

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to adopt measures to increase the country’s revenue and borrow from cheaper sources to cushion Nigeria’s debt portfolio. Dr Michael Olawale-Cole, President, LCCI, gave the advice in a statement on Monday in Lagos. Olawale-Cole said the …

Union Bank of Nigeria Plc in it’s unaudited financial statements for the quarter ended 31st March 2022 has reported a 18 per cent growth in the bank’s gross earnings for the period as against the first quarter of 2021. Driven by strong earning assets from on-lending to key sectors in …

The Central Bank of Nigeria (CBN) has approved the appointment of two executive directors to the Zenith Bank board, while two Non-Executive Directors have also joined. In a statement released on Wednesday to the investing public and the Nigerian Exchange Limited (NGX), Adobi Nwapa and Anthony Ogunranti were appointed as …

Foreign investors appear to have boycotted the Nigerian market as capital importation has dropped by $4.08bn (N1.68tn) in one year, latest statistics have shown. Between January and September 2020, total capital importation amounted to $8.55bn, data from the National Bureau of Statistics revealed. However, according to the latest capital importation …

United Bank for Africa Plc (UBA) has successfully raised $300 million through the issuance of a new five-year senior unsecured notes (144A/Reg S) listed on the London Stock Exchange. The offer was the first issue out of the newly established $1.5 billion Global Medium Term Note (GMTN) programme established in …

…Active Data Subscribers Increases by 2.5 Million to 33.2 Million Telecommunications giant, MTN Nigeria has announced a 51.5% increase in its data revenue to the tune of ₦366 billion in the first nine months of 2021. This was disclosed in the company’s unaudited financial statement for the nine months ended …

Access Bank Plc yesterday announced that it has executed a binding agreement with Atlas Mara Limited on a proposed merger between African banking Corporation Zambia Limited (Atlas Mara Zambia) and the bank’s subsidiary in Zambia, Access Bank Zambia Limited (Access Bank Zambia). The Company Secretary, Access Bank, Sunday Ekwochi, in …