UBA, Zenith, 2 others post N344 bn PAT in 9 months

The Nigerian capital market recovered in the week that ended October 19, 2018 as renewed interests in listed stocks ensured that the prices of quoted securities rose leading to N140.44 billion gains in market capitalisation. The renewed sentiment in the market followed a week of influx of the third quarter unaudited results of companies which……

CBN boosts inter-bank market with $337m, CNY53m

The Central Bank of Nigeria (CBN), on Friday, October 19, 2018 injected over $337 million in the inter- Bank foreign exchange market. The CBN intervened in the Retail Secondary Market Sales (SMIS) to the tune of $337,333,646.85, in addition to the sum of CNY53,444,222.38 million in the spot and short tenored forwards of the inter-bank……

Nigerian stocks shed N100bn as Q3 scorecards trickle-in

As third-quarter (Q3) financials of companies berth on the Nigerian Stock Exchange (NSE), investors failed to raise bets on equities market. This is evidenced in the performance of the stock market on Wednesday October 17 as investors recorded loss worth N104billion. Only 10 stocks gained against 22 losers. The stock market’s year-to-date (YtD) returns stands……

Nigeria’s SEC still positive as investors count N1.8trn loss in equities

Nigerian investors are still carrying equity-related loss of N1.8 trillion this year, but its apex regulator – the Securities and Exchange Commission (SEC) – is still seeing positive returns in future. Mary Uduk, acting director-general, SEC, who acknowledges that the upcoming election may have made some investors hold back their investments “and sell or adopt……

CCNN gets SEC, NSE approvals on proposed merger with Kalambaina Cement

Cement Company of Northern Nigeria Plc has now received the requisite pre-merger approvals from the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) for the proposed merger with Kalambaina Cement Company Limited. Cement Company of Northern Nigeria Plc had on June 27, 2018 announced its proposed merger with Kalambaina Cement Company Limited…….

Nigeria to benefit from petrochemicals boom on strategic private investments

Petrochemicals are set to drive growth in world oil demand and Nigeria can benefit in the long run, if it puts its acts together and encourages strategic private sector investment into its petrochemicals industry. Petrochemicals are components derived from oil and gas that are used in daily products such as plastics, fertilizers, packaging, clothing, digital……