NSE down 16% but world stocks start month firmly

The Nigerian Stock Exchange (NSE) All Share Index was down year-to-date by 16.31 percent yesterday, despite the fact that global stocks kicked off the month on a firm note. After a brutal October, global stocks started November on stronger ground while sterling rallied on reports that Britain and the European Union are close to a……

CBN restructures department

The Central Bank of Nigeria (CBN) on Wednesday restructured the banking and payments system department, which has resulted in the creation of two departments, namely, Banking Services Department (BKSD) and Payments System Management Department (PSMD). This is part of its mandate to efficiently deliver on its strategic objective as banker to the Federal Government and……

NUPENG assures of hitch-free end of year fuel distribution

The National Union of Petroleum and Natural Gas Workers (NUPENG) has affirmed its willingness to work closely with the Nigerian National Petroleum Corporation (NNPC) to ensure hitch-free products distributed across the country throughout the end of year festive period. National President of NUPENG, Prince Williams Akporeha, gave this assurance when he led the National Central……

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……