Market Updates

FG unveils Nigerian content equity fund for oil companies The Federal Government, through the Nigerian Content Development and Monitoring Board, has announced the imminent launch of the Nigerian Content Equity Fund. The board said this is a financing initiative designed to provide long-term risk capital to support Nigerian oil and... Read More →

Stakeholders push gold value addition in African finance Stakeholders in the African finance and extractive sectors have called for greater value addition and integration of gold into financial systems across the continent to enhance economic resilience and wealth creation. Speaking at the recently held Gold Roadshow Africa, Executive Director of... Read More →

NASD: Norrenberger’s N1.3 billion bet shakes up Nigeria’s OTC market  Norrenberger Securities Limited has acquired a 4.35% strategic stake in NASD Plc for a stunning N1.3 billion, in what industry watchers described as the most significant institutional vote of confidence in the over-the-counter (OTC) market this year. The huge transaction,... Read More →

Presco begins N236.67bn rights issue Presco Plc has announced the commencement of its N236.67bn rights issue on the Nigerian Exchange Limited. In a corporate disclosure on Wednesday, the rights issue offers current shareholders of the company an opportunity to buy 166,666,667 ordinary shares of N0.50 each at N1,420 per share,... Read More →

TotalEnergies eager to develop oil assets — Deputy MD TotalEnergies EP Nigeria is racing to unlock the full potential of its oil assets in Nigeria, driven by what the company describes as a “desperation” to optimise existing fields and accelerate new deepwater projects, the Deputy Managing Director, Deepwater Asset, Victor... Read More →

Senator urges review of 30% capital gains tax The Chairman, Senate Committee on Capital Market and Institutions, Senator Osita Izunaso, has called for a review of the controversial 30 per cent Capital Gains Tax on share sales, warning that the policy has already triggered a N2tn loss in market capitalisation.... Read More →