The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday hinted that the company would commence drilling for crude oil in Nasarawa State’s Keana oil field effective from March 21 this year. Kyari, who made this disclosure during a meeting he held with the state Governor, Engr. Abdullahi […]
Investments/Capital Market
Julius Berger Concludes N30Bn Commercial Paper Issuance
Julius Berger Nigeria Plc, one of Nigeria’s construction giants, has announced the completion of its N30 billion Series 1 and 2 Commercial Paper (CP) issuance. The company, in a corporate disclosure signed by its Company Secretary Mrs Cecilia Madueke, and sent to the Nigerian Exchange Limited, indicated that the commercial paper issuance was over-subscribed, demonstrating […]
Naira Rebounds, Trades N755/$1 At Black Market
The Naira appreciated against the US dollar at the black market in the early hours of Wednesday, trading at an average of N755/$1 at the black market compared to the N756/$1 it exchanged at during the previous day’s trading session. Some of the FX traders in the parallel market attributed the slight rebound of the […]
NGX Advocates Incentives To Boost Exchange’s Listings, Tax Revenue
The Nigerian Exchange Limited (NGX) has advocated the need for improved government incentives to encourage companies to list on the nation’s equities market. The NGX’s Chief Executive Officer, Mr. Temi Popoola, who made the call during an interview with journalists, pointed out that exploring the opportunities in capital market through fiscal and other incentives would […]
Oil Sector Reforms Hold Bright Prospect For Nigeria’s FX Earnings – Analysts
Economic researchers at the Centre for the Study of Economies of Africa (CSEA), one of Nigeria-based economic research organization with primary focus on developments in Africa’s economies, have stressed the need for the government to intensify ongoing reforms in the oil and gas industry to boost foreign exchange earnings for the country. The forecast by […]
TAJBank Becomes First Corporate To List Sukuk Bond On NGX
TAJBank Limited, Nigeria’s fast-growing non-interest banking services provider, Tuesday on the trading floor of the Nigerian Exchange Limited (NGX) became the first corporate to list Sukuk Bond on the bourse. The bank listed N10 billion Mudarabah Sukuk issuance after it successfully raised over N11.4 billion under its N100 Billion Sukuk Issuance Programme. The first of […]
SEC Licences ‘Bamboo’ For Digital Brokerage Operations In NGX
Systems Technology Limited (Bamboo), one of Africa’s leading online brokerage firms, has announced its licensing by Securities and Exchange Commission (SEC) Nigeria to operate in the Nigerian capital market and include Nigerian securities on its platform. The approval by the commission granted the digital brokerage firm will help in strengthening its relationship with its sponsoring […]
SEC, NAIC Unveil Plans To Deepen Commodities Trading Ecosystem
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has hinted of plans by the capital market regulatory commission to collaborate with the Nigerian Agricultural Insurance Corporation (NAIC) in a bid to further deepen the commodities trading ecosystem. Yuguda, who made this disclosure during the commission team’s meeting with the management of NAIC […]
TAJBank Intensifies Nationwide Operations Drive, Opens Apapa Branch
TAJBank Limited, Nigeria’s fast-growing non-interest banking services provider, on Thursday opened a new branch in Apapa, Lagos in furtherance of its current drive to provide seamless financial transactions and advisory services for its growing customer-base. It would be recalled that the bank secured its national banking license from the Central Bank of Nigeria (CBN) about […]
Analysts Forecast Sustained Moderation In Nigeria’s Inflation Rate
CAPE Research and Economic Consulting, a leading economic analysis organization, has predicted that it expects that Nigeria’s inflation to moderate further in January 2023. Experts in the firm reported that their research findings which showed that inflationary pressure would moderate as the headline and food inflation are expected to slow to 21.28 and 23.09 respectively, […]