Wema Bank emerged as the biggest traded stock by volume on Thursday, November 13, as the Nigerian stock market appreciated, with investors pocketing N1 trillion again. The market rebounded on Wednesday after more than a week of bearish momentum. The stock market saw its biggest dip on Tuesday, November 11, when approximately ₦4.65 trillion was …
The Ministry of Finance Incorporated (MOFI) real estate investment fund (MREIF) series 2 has been listed on the Nigerian Exchange Limited (NGX). The listing was commemorated with a closing gong ceremony at the NGX and in attendance was Minister of Finance and Coordinating Minister for the Economy, Wale Edun. In a statement on Tuesday, November …
Telecommunications (Telecom) companies in Nigeria grew revenue to ₦7.67 trillion in 2024, boosted by increased demand for data services, higher subscription rates, and expanded enterprise solutions. The Nigerian Communications Commission (NCC) disclosed this in its 2024 Subscribers/Network Performance Report, released on Wednesday, November 12. It shows that the telecom companies' revenue increased by 44.7 per …
Bargain-hunting in blue-chip stocks pulled the Nigerian stock market to a rebound as the All-Share Index rose by 2.88 per cent to close at 145,403.83 points on Wednesday, November 12. Similarly, the total market capitalisation of all the listed stocks climbed by 2.88 per cent to ₦92.48 trillion, leaving investors to gain ₦2.59 trillion at …
Presco Plc said it has started selling shares to exiting shareholders at N1,420 per share to raise approximately N236.67 billion in capital to expand its operations. The palm plantation and processing company announced this in a statement on Wednesday, November 12, signed by its company secretary, Frederick Ichekwai. It explained that it has opened a …
In a bid to expand its digital infrastructure and strengthen its competitiveness under the African Continental Free Trade Area (AfCFTA), the Federal Government of Nigeria has unveiled the largest fibre optic cable factory and first fibre-reinforced plastic manufacturing facility as a strategic asset for national development. The plant, built by Coleman Technical Industries Limited in …
A group of environmental rights organisations focused on advancing climate justice have raised concerns over a recent call by Nigeria's Vice President Kashim Shettima for new finance mechanisms to harness the nature economic value. In a joint statement on Tuesday, November 11, the non-governmental organisations (NGOs) described the move as an attempt to commodify the …
Oliver Alawuba, the group managing director/chief executive officer of United Bank for Africa (UBA), says the bank has been strategic in financing critical projects across African countries for developmental purposes and other continents more broadly. He hinted at this while delivering a keynote speech at the UAE-Chad Trade & Investment Forum in Abu Dhabi, United …
The Nigerian stock market recorded a significant decline on Tuesday as investors lost approximately ₦4.65 trillion in a single day of trading, with only four stocks on the gainers' table, a sell pressure that has persisted in recent times. The All-Share Index, which tracks the general market movement of all listed stocks, dipped by 5.01 …
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has urged the federal government to either reduce the capital gains tax (CGT) to 10 per cent or defer the implementation date. The renowned economist said this on Channels Television's Business Morning programme on Tuesday, November 11, while sharing his thoughts on what …
