Market Updates

AMCON repays N3.6tn, intensifies global asset hunt The Asset Management Corporation of Nigeria, the government-owned agency established in 2010 to stabilise and revitalise the Nigerian financial system, announced on Wednesday that it has so far repaid about N3.6tn to the Central Bank of Nigeria since its inception. Managing Director and... Read More →

NGX unveils commercial paper listings Nigerian Exchange Limited has introduced Commercial Paper listings, following approval from the Securities and Exchange Commission. In a statement from the NGX on Wednesday, the new market offering will deepen Nigeria’s short-term debt market. The PUNCH reports that with the new listing window for commercial papers,... Read More →

FIRS clarifies new tax laws, debunks levy misconceptions The Federal Inland Revenue Service has stated that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability. The agency also clarified that the much-debated four per cent development levy on imported goods is... Read More →

Eterna launches N21.5bn Rights Issue Eterna Plc, one of Nigeria’s leading integrated energy companies, has finalised arrangements for a rights issue of 978,108,485 ordinary shares at N22.00 per share, expected to raise approximately N21.52 bn. The capital raise is designed to strengthen the company’s balance sheet and support strategic expansion... Read More →

REA plans N500bn capital-market raise The Rural Electrification Agency says it will go to the capital market to raise N500bn, backed by a new renewable asset management company designed to hold and leverage federal solar investments worth $200m to $300m. The Managing Director of the agency, Abba Aliyu, disclosed this... Read More →

CBN holds benchmark rate steady in disinflation phase The Central Bank of Nigeria has again held the Monetary Policy Rate at 27 per cent, marking the fourth pause this year as it prioritises stability amid a slowing but still elevated inflation cycle. With disinflation gaining ground, firmer reserves and a... Read More →