Chairman of the Nigerian Exchange Group (NGX Group), Dr. Umaru Kwairanga, has congratulated the management, employees and shareholders of HBM Nigeria Plc on the company’s transition from Lafarge Africa Plc, describing the rebranding as the beginning of a new era of growth and opportunity. Kwairanga made the remarks during the official unveiling of the company’s…
By Seun Ibiyemi The Nigerian stock market extended its bearish run on Thursday, with investors losing N2.179 trillion as sell-offs in fundamentally strong stocks continued amid adjustments to the newly introduced T+1 settlement cycle. Market capitalisation declined by 1.41 per cent, falling from N154.445 trillion to N152.266 trillion, while the All-Share Index (ASI) shed 3,397.80…
By Seun Ibiyemi The Nigerian equities market closed in the red on Wednesday, extending its bearish run to four consecutive trading sessions as investors lost N758 billion amid sustained profit-taking across major stocks. Market capitalisation declined by N758 billion, or 0.49 per cent, to close at N154.445 trillion, down from N155.203 trillion recorded on Tuesday….
By Seun Ibiyemi Investors on the Nigerian Exchange Ltd. (NGX) suffered losses amounting to N782 billion on Tuesday as the stock market extended its bearish run for a third consecutive trading session amid widespread profit-taking across major sectors. The downturn was driven by sell-offs in insurance, banking, consumer goods, industrial and technology stocks, resulting in…
By Seun Ibiyemi The International Monetary Fund (IMF) has identified the rapid growth of stablecoin usage in Nigeria as an emerging channel for cross-border payments, highlighting both its benefits and potential risks to the country’s financial system. In a report released on Tuesday, the IMF said digital assets pegged to the United States dollar are…
By Seun Ibiyemi The Nigerian stock market closed on a positive note on Wednesday, with investors gaining approximately ₦99 billion as sustained buying interest in selected large- and mid-cap stocks lifted key market indicators. Market capitalisation advanced by 0.06 per cent to close at ₦157.042 trillion, up from ₦156.943 trillion recorded in the previous trading…
By Seun Ibiyemi The Nigerian stock market commenced the week on a bullish note on Monday, with investors gaining N515 billion as renewed buying interest in insurance, financial services and transportation stocks lifted key market indicators. At the close of trading, the market capitalisation of the Nigerian Exchange (NGX) increased by 0.33 per cent to…
The equities market closed lower on Tuesday as investors recorded a loss of N478 billion following profit-taking in major stocks. The decline was driven by losses in large- and mid-cap stocks, including PZ Cussons, Computer Warehouse Group (CWG), ABC Transport, Wema Bank, Sovereign Trust Insurance, and 33 other stocks. Market capitalisation declined from an opening…
Investors on the Nigerian Exchange Limited (NGX) lost N1.811 trillion on Monday as widespread profit-taking across major stocks pushed the equities market into negative territory on the first trading day of June. The sharp decline came as the capital market commenced trading under the newly introduced T+1 settlement cycle, a reform aimed at improving market…
…as capital market reforms boost investor confidence By Seun Ibiyemi Nigeria’s Assets Under Management (AUM) have surged from N3.2 trillion to N10 trillion within two years, underscoring growing investor confidence and the positive impact of reforms in the country’s capital market, the Securities and Exchange Commission (SEC) has said. The Director-General of SEC, Dr. Emomotimi…
