The downward trend in the equities market continued following price depreciation in GUARANTY (-1.0%), DANGCEM (-0.3%) and UBN (-3.7%). Consequently, ASI dipped 56bps to 28,043.32 points while YTD loss worsened to -10.8%. Similarly investors lost N77.0bn, pulling down market capitalisation to N13.67tn. Activity level improved as volume and value traded rose by 12.5% and 116.0% to 243.7m units and N3.9bn respectively. The top traded
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Economy Archives - Business Journal
July 12, 2019
Nigeria to be Major Player at Africa Investment Forum 2019
Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja. Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set up to accelerate investment
July 12, 2019
‘Join Africa50 to lay Foundations for a More Prosperous Africa’, Says AfDB
African governments must explore innovative technologies to drive transformation on the continent, board members at Africa50’s General Shareholders Meeting, held in Kigali heard on Wednesday. Prime Minister of Rwanda, Edouard Ngirente made the call at the opening of the shareholders meeting. “Let’s explore these digital opportunities to move our continent forward,” the prime minister said.
July 9, 2019
NSE Admits Airtel Africa to its Main Board
L – R (A) shows Segun Ogunsanya, Managing Director/CEO, Airtel Nigeria Plc; Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange, NSE and Awuneba Ajumogobia, Member, Airtel Africa Board during the listing of Airtel Africa Plc on the Daily Official List of The NSE yesterday in Lagos. The Nigerian Stock Exchange (NSE) is
July 3, 2019
NSE Reveals Results of Biannual Review of Market Indices
The Nigerian Stock Exchange (NSE) has announced the results of the biannual review for the NSE and co-branded indices. The composition of these indices after the review became effective on Monday July 1, 2019. Below are the incoming and exiting companies in the various indices. Indices Title Incoming Exiting
June 30, 2019
Recovering N5tr AMCON Debt, Judiciary Most Critical – Justice Kafarati
The Chief Judge of the Federal High Court, Hon. Justice A.A. Kafarati has again reminded the nation that the success of Asset Management Corporation of Nigeria (AMCON) in the discharge of its recovery mandates would only be enhanced if other safety net players and stakeholders, which includes the judiciary effectively play their respective roles. AMCON
- By : Business Journal
- Economy
June 25, 2019
N229bn World Bank Windfall: States Refuse to Publish 2019 Budget
Nigerian state governments have proved that the returns from the usual business of budget secrecy are much more fulfilling to them than the $750 million incentive provided by the World Bank to encourage public finance transparency in Nigeria, BudgIT research has shown. An 8-month painstaking effort, the assessment of the availability of public finance documents
- By : Business Journal
- Economy
June 2, 2019
AMCON N5tr Debt Requires ADR Approach – Jurists
As Asset Management Corporation of Nigeria (AMCON) continue to seek better ways to recover its huge outstanding debt of over N5trillion, 80 per cent of which is owed by just 350 individuals in the country, leading jurists at the weekend again urged the management of AMCON to explore the opportunities offered by Alternative Dispute Resolution
- By : Business Journal
- Economy
May 28, 2019
Budget Transparency: Tracka Expands Monitoring to 6 More States
Tracka has announced the expansion of its transparency advocacy into three new states – Anambra, Abia, Bayelsa, Bauchi, Benue and Kastina – in collaboration with Google Impact Challenge. A social platform that mobilizes citizens to collaborate, track budgets and give feedback on public projects in their communities, Tracka hitherto operated in 22 states across Nigeria
- By : Business Journal
- Economy
May 23, 2019
Local Bourse Sustains Positive Momentum… ASI up 1.1%
Yesterday, the local bourse maintained its positive performance as the All Share Index (ASI) rose 1.1% to settle at 31,477.51 points. This was buoyed by a broad-based rally across sectors, although DANGCEM (+1.0%), NESTLE (+3.4%), and GUARANTY (+1.8%) were the main drivers. As a result, market capitalisation increased by N146.4bn to N13.9tn while the YTD return at 0.1% inched into the positive region for
May 23, 2019
Positive Streak Extends into 5th Consecutive Trading Day
As anticipated, the All Share Index (ASI) significantly rose by 3.1% to settle at 31,145.15 points, extending the bullish performance into the 5th consecutive trading day. This performance was largely driven by price appreciation in MTNN (+10.0%), DANGCEM (+9.7%) and GLAXOSMITH (+5.3%). As a result, YTD loss improved to -0.9% from -3.9% recorded in the previous session, while market capitalisation
May 20, 2019
NSE Wins Outstanding Invaluable Company Award for CSR
The Nigerian Stock Exchange (NSE) is pleased to announce that it has received a “Rotary Outstanding Invaluable Company Award” from Rotary International District 9110, Nigeria, one of the 535 Districts that make up Rotary International worldwide and it comprises over 100 Rotary Clubs with over 3000 professional men and women as members. In a notification
- By : Business Journal
- Economy
May 13, 2019
AfDB, Global Partners Unveil $61.8m Funding for Women Entrepreneurs
The Governing Committee of the Women Entrepreneurs Finance Initiative (We-Fi) has approved a funding allocation of $61.8 million for the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program. We-Fi is a partnership among 14 donor governments, eight multilateral development banks, and other public and private sector stakeholders, established in October 2017 and
May 10, 2019
Emefiele Re-appointed for 2nd Term as CBN Governor
Mr. Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) has been re-appointed for second term in office by President Muhammadu Buhari. His first tenure is due to expire in June 2019. The Presidency has already dispatched the letter nominating Emefiele for second terms as CBN governor to the Senate for confirmation. Some of the notable
May 10, 2019
‘African Firms Should Tap into $24Trillion Blue Economy’
Africa Blue Economy Forum (ABEF) comes to Tunis, Tunisia on June 25-26, 2019 with confirmed speakers include Government ministers and officials from Gabon, Ghana, Morocco, Somaliland, Tunisia and Seychelles; Aims to raise awareness of the economic, social and environmental benefits of the Blue Economy. African businesses are being challenged to wake up to the economic,
- By : Business Journal
- Economy
