Regulator, stockbrokers differ on MTN free float share-listing

Capital market regulators have been accused of conniving with MTN Nigeria Plc to allegedly manipulate the performance of the telecom firm’s share price at the Exchange. Click here for more.

Stakeholders Drum Support for Agency Banking

Stakeholders in the financial technology (fintech) space and the Central Bank of Nigeria (CBN), have called for increased adoption of agency banking in the country. The Deputy Governor in charge of Financial Systems Stability at CBN, Mrs. Aishah Ahmad, who reiterated the central bank’s commitment to the successful implementation of agent banking in Nigeria. Click here for more.

Nigeria’s oil exports threatened as fire hits 250,000bpd pipeline

The nation’s crude oil exports have suffered a fresh setback following a fire outbreak on the Trans Forcados Pipeline, one of the nation’s key export routes. One of our correspondents learnt that the fire occurred late Sunday evening on a section of the pipeline that was undergoing repairs. Click here for more.

Nigerian Stock Market Opens The Week Positive; Investors Gain N220.88bn As NSEASI Inches Up By 1.74%

Equities market closed today on a positive note, as NSEASI appreciated by 1.74% to close at 29,373.40 points as against 1.53% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -6.54%.  Click here for more.

The Bulls Sustain Hold On The T-Bills Market As CBN Halts OMO Auctions; Average Yields Down to 12.3%

Last week, the Treasury Bills (“T-Bills”) secondary market extended its bullish run into a second consecutive week in the absence of customary Open Market Operations (“OMO”) mop-ups (for the first time in weeks) by the Apex bank. Click here for more.

NSE Clarifies Concerns on MTN Nigeria’s Premium Board Listing

The attention of The Nigerian Stock Exchange (NSE or The Exchange) has been drawn to a few critical issues raised in various print and social media platforms regarding the listing of MTN Nigeria Communications Plc (MTN Nigeria) on the Premium Board of the Exchange. Click here for more.

Experts fear recession as GDP growth drops to 2.01%

Some financial and economic experts on Monday warned that weak fundamentals currently being exhibited by the Nigerian economy are putting the country’s exit from recession under threat. Click here for more.

SEC declares ‘Loom Money’ illegal outfit

The Acting Director-General, Securities and Exchange Commission (SEC), Ms. Mary Uduk, has raised an alarm over the activities of some internet fraudsters, who are currently running an online investment scheme tagged, ‘Loom Money Nigeria’. . Click here for more.

Scarce MTN shares heighten brokers’ anger

It’s the hottest listing to come to the Nigerian Stock Exchange (NSE) in the past three years, but good luck getting a hand on the shares of MTN Nigeria (MTNN), whether you are an institutional or retail investor. The scarcity of MTNN shares is largely due to the unusual listing by introduction approach. Click here for more.

Minimum Paid-Up Share Capital Policy For Insurance And Reinsurance Companies In Nigeria

In 2005/7, the insurance industry witnessed its last recapitalization and despite the astronomical increase in value of insured assets, consequent exposure to higher level of insured liabilities and Operating cost of insurers, the same capital continued to rule in the insurance industry. Click here for more.

China Warns About ‘Unwavering Resolve’ to Fight U.S. ‘Bullying’

China could retaliate against the U.S. after President Donald Trump blacklisted Huawei Technologies Co., the Chinese ambassador to the European Union said. Trump upped the ante in his trade dispute with China last week, announcing moves to curb Huawei’s business that are starting to have ramifications for other companies around the world. Click here for more.