Market Updates

Capital market gains N3.84tn on strong buying Sustained buying interest across major stocks lifted the Nigerian Exchange equities market by N3.84tn in the past trading week, as investors piled into banking, telecoms, industrial and consumer names, pushing the market deeper into bullish territory. Data from the NGX showed that total... Read More →

CIS, ASHON commend NGX as capitalisation crosses N100tn The Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria have congratulated the Nigerian Exchange Group Plc and Nigerian Exchange Limited on the historic achievement of the capital market crossing the N100tn market capitalisation mark. In a joint... Read More →

Heritage Bank liquidation: NDIC recovers additional N24.3bn for depositors The Nigeria Deposit Insurance Corporation has recovered an additional N24.3bn from the assets of the defunct Heritage Bank Limited to repay customers of the bank with balances above N5m as of the time of its licence revocation. This was disclosed in... Read More →

MA’AM Energy’s $750m Geregu takeover excites investors The minority investor community and operators in the capital market have expressed optimism about the acquisition of majority shareholding in Geregu Power Plc by MA’AM Energy Limited, saying it was a major boost for the power sector. The stakeholders in separate chats indicated... Read More →

Eterna opens N21.5bn rights issue to drive expansion Eterna Plc, a leading integrated energy company, has officially opened its Rights Issue, marking a major milestone in its capital-raising programme and long-term growth strategy. The Rights Issue comprises 978,108,485 ordinary shares of 50 kobo each, offered at N22.00 per share, and... Read More →

UBA surpasses N500bn capital milestone via rights issue The United Bank for Africa has emerged as the latest lender to meet the new minimum capital requirement set by the Central Bank of Nigeria for banks with international operations, as its share capital crosses the N500bn mark. UBA achieved this feat... Read More →