Ellah Lakes Plc, an integrated agro-industrial enterprise, has opened a ₦235 billion public offer to unlock its next growth strategy. The company officially declared it opened during a Facts Behind the Offer Presentation at the Nigerian Exchange Limited (NGX) on Monday, November 10. Ellah Lakes said it is issuing 18.8 billion ordinary shares at ₦12.50 …
The Nigeria Deposit Insurance Corporation (NDIC) is now better equipped to hold those responsible for bank failures accountable, thanks to stronger legal frameworks, according to its Managing Director/Chief Executive (MD/CE), Mr Thompson Oludare Sunday. In a recent meeting with the President/Chairman of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr Chimezie Victor …
Nigeria's currency came under renewed pressure in the just-concluded week as the naira lost ground against the dollar at the official window, despite sustained interventions by the Central Bank of Nigeria (CBN), aimed at stabilising the foreign exchange (FX) market. A review of market data for the first week of November reveals that the naira …
The Nigerian stock market ended the first week of November on a bearish note as profit-taking dominated trading sentiment amid domestic and external headwinds, leaving investors to suffer a ₦2.83 trillion loss. Trading activity started on Monday, November 3, on a bearish note, sustaining the momentum all through the week. As a result, the total …
Bank of America (BofA) has raised its return target as part of a new strategy to close the gap with Wall Street leaders. CEO Brian Moynihan announced the plan at the bank’s first investor day since 2011, signalling a renewed push to improve performance and capture more market share. BofA now aims to deliver a …
Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has said that Nigeria’s non-interest capital market valuation of over ₦1.6 trillion is clear evidence of an enabling regulatory environment. Agama said this at the 7th African International Conference on Islamic Finance (AICIF) 2025 in Lagos, which was held on November 4 and 5. He …
The Nigerian stock market started the week on a bearish note as the All-Share Index (ASI) declined by 0.25 per cent to close at 153,739.65 amid concerns about United States President Donald Trump's threat of military action on Nigeria over alleged Christian genocide. Pinnacle Daily reported that Trump had asked the country’s Defence Department to …
Reaching a 55.88 per cent year-to-date return at the close of trading on Friday, October 31, total stock market capitalisation rose to N97.83 trillion, leaving investors with a N7.25 trillion gain in one month on the Nigerian Exchange Limited (NGX). This is one of the largest single-month gains in recent times that the stock market …
First Bank of Nigeria Limited said it has successfully redeemed its $350 million Eurobond, reaffirming its liquidity and financial stability. The parent company, First HoldCo Plc, disclosed this in a statement on Wednesday, October 29. It noted that the Eurobond, issued in October 2020, matured on October 27, 2025. It also noted that the Eurobond …
VFD Group Plc has posted a 61.4 per cent growth in profit before tax to ₦7.99 billion in the nine months of the year from ₦4.95 billion in the same period of the previous year. It reported this in its interim financial statements for the period ended September 30, 2025, released on Wednesday, October 29. …
