Nigerian Market News

• Nigeria’s stock market falls further December 3, 2020
  Nigeria’s equities market continued its downward trend on Thursday December 3 as more investors chose to take profit after recent rally. GTBank Plc led the laggards after its share price moved from N34.1 to N33.6, losing 50kobo or 1.47 percent, Cadbury Nigeria plc followed after dipping from N9.2 to N8.7, down by 50kobo or 5.43 […]
• NSE sets Dec. 7 for implementation of 0.08% Stamp Duty on securities transactions December 3, 2020
  The Nigerian Stock Exchange (NSE) has said the revision of Stamp Duty on securities transactions to 0.08percent from 0.075percent will become effective from December 7, 2020. The change is necessitated by the classification of Contract Notes as an ad valorem tax by the Federal Inland Revenue Service (FIRS), the NSE said. “As a responsive self-regulatory […]
• FCMB organises tax seminar for businesses, advocates synergy among stakeholders December 3, 2020
  First City Monument Bank (FCMB) has urged business owners in Nigeria to keep pace with current and emerging realities in the corporate environment, especially on taxation, in order to make their respective businesses competitive and enhance overall performance. In addition, the Bank would want stakeholders to build a more robust relationship that would enable Small […]
• Nigeria’s stock market dips by 0.26% as investors take profit December 3, 2020
  Nigeria’s equities market closed in red ( – 0 . 2 6 p e rcent) on Wednesday as investors moved to take profit following six consecutive sessions of gains. Topmost among the stocks that were on offer include Nigerian Breweries Plc, Chemical and Allied Products Plc, Gtbank Plc, and Northern Nigeria Flour Mills Plc. The […]
• Nigeria’s SEC seeks collaboration on commodities trading ecosystem December 3, 2020
  The Securities and Exchange Commission (SEC), has urged for collaboration with the Standards Organisation of Nigeria (SON) by advocating for speedy approval and publication of standards relevant to the commodities trading ecosystem. This was stated by the Director-General of the SEC, Lamido Yuguda during a meeting with the SON management in Abuja Wednesday. Yuguda said […]
• Seplat did not guarantee, indemnify Cardinal facility with Access Bank December 3, 2020
  It was noticed on Wednesday December 2, 2020, that the Corporate Headquarters of Seplat Petroleum Development Company Plc at No. 16A Temple Road, Ikoyi, Lagos were sealed and policemen, purporting to act on behalf of the allegedly appointed Receiver/Manager, prevented SEPLAT staff and other Tenants from entering the building. Investigation on this development shows that, […]
• Stanbic IBTC Bank says committed to economic growth, supports Africa-china trade relations December 1, 2020
  Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc, has reiterated its commitment to the nation’s economic development by fostering international trade. This was disclosed at the recent Africa China Agent Proposition (ACAP) webinar, themed “Advancing Africa-china Trade Opportunities.” During the session, panellists discussed the challenges which confronted NigeriaChina trade relations as a […]
• CSCS bags Securities Services Company of the Year award December 1, 2020
  Central Securities Clearing System (CSCS) Plc, Nigeria’s capital market infrastructure, was decorated with the Securities Services Company of the Year award at the eight edition of the reputed Banks’ and Other Financial Institutions (BAFI) Awards 2020. The Judges’ decision, a product of a rigorous and diligent process, was announced at the event held in Lagos […]
• NSE migrates 4 companies from ASEM to growth board December 1, 2020
  The Nigerian Stock Exchange (NSE) has migrated Chellarams Plc, Living Trust Mortgage Plc, Mcnichols Plc, and The Initiates Plc from the Alternative Securities Market (ASEM) to the Growth Board, which follows the launch the associated Growth Board Index on Monday, 30 November 30 2020. This migration follows the receipt of applications from these companies requesting […]
• Funke Feyisitan-ladimeji appointed Executive Director, Coronation Merchant Bank November 30, 2020
  The Board of Directors of Coronation Merchant Bank Limited has announced the appointment of Funke Feyisitan Ladimeji as an Executive Director of the Bank with effect from November 18, 2020, consequent to the approval of the Central Bank of Nigeria. Funke joins the Bank from Fbnquest Merchant Bank where she spent eight years as the […]