Nigerian Market News

• Naira strengthens by N2.00k as FX market resumes May 27, 2020
  Nigeria’s currency on Wednesday strengthened against the dollar as the foreign exchange market resumed after the two days of holiday declared by the Federal Government. Naira gained N2.00k as the dollar was trading at N458 on Wednesday compared to N460 traded on Friday last week on the black market. Traders attributed the Naira appreciation to […]
• NSE CEO highlights resilience of Nigeria’s Capital market amidst Covid-19 May 26, 2020
  As corporations all over the world battle the impacts of the Coronavirus (Covid-19), the support of securities exchanges for capital market ecosystems has become even more relevant in building sustainable businesses and stimulating growth across Africa. The Chief Executive Officer, The Nigerian Stock Exchange (NSE) Oscar N. Onyema, shared some of the efforts of the […]
• Nigeria stocks to continue upward trend post-holidays  May 24, 2020
  When Nigerian equities dealers assemble for trading on Wednesday May 27 after the public holidays to mark the Eid-al Fitr celebration, most of them may continue to take advantage of some cheap counters.  On the contrary, the short-term speculative buyers among them may resort to taking profit on some other tickers that have gained substantially […]
• Equities Market: Domestic investors take charge as foreign sell off persist in April May 24, 2020
  As global markets continue to grapple with the impact of COVID-19 spread, the Nigerian equities market last month showed some resilience in the face of severe disruption in economic activities due to the ravaging pandemic, as domestic investors dominated market activities on the back of cheaper valuations, attractive dividend yield and low fixed income yields. Figures […]
• Reduced sales, high finance cost send Eterna into loss in 2019 May 24, 2020
  Eterna Plc last week announced its audited financial statement for the year ended December 31, 2019 and indication showed the company must urgently reverse the trend to remain competitive within the downstream market.  This is necessary because the analysis of its revenue sources showed mixed results in that the gains from lubricants, fuel and other […]
• Equities gain N690bn in five days as FG floats N150bn Sukuk May 24, 2020
  Fortune smiled on investors and other participants in the nation’s capital market as the listed equities gained N694.9 billion in five days last week. This translated to a gain of N139 billion in equity values daily. This has seen the market capitalisation of quoted companies on the Nigerian bourse rise to N13.14 trillion last week […]
• CSCS shareholders approve N4.3billion dividend May 22, 2020
  Central Securities Clearing System (CSCS) Plc on Friday May 22 held its 26th Annual General Meeting (AGM), where shareholders approved 86kobo dividend per share payout to shareholders. The AGM was held by proxy at the Nigerian Stock Exchange Event Centre, Lagos while observing relevant social distancing protocols and hygiene, aimed at curtailing the spread of […]
• BDCs warn forex speculators of losses, set to resume full operations May 21, 2020
  The Association of Bureaux De Change Operators of Nigeria (ABCON) has warned its members and forex speculators putting pressure on the naira exchange rate to stop such activities or risk losing their money. ABCON President, Aminu Gwadabe who disclosed this yesterday in Lagos said the Central Bank of Nigeria (CBN)-licensed Bureaux de Change (BDCs) will […]
• Naira gaining as FX market opens at N387.25k May 21, 2020
  The foreign exchange market opened on Thursday morning with an indicative rate of N387.25k per dollar at the Investors and Exporters (I&E) forex window. This represents N0.88k gain over N388.13k opened with on Wednesday, data from FMDQ revealed. The market closed at N386.42k/$ on Wednesday as against N386.33k closed with on Tuesday. At the black […]
• Naira falls to N460 on black market May 20, 2020
  Nigeria’s currency weakened to N460 against the dollar after foreign exchange trading on Wednesday at the black market. This represents N5.00k lost in the value of Naira when compared with N455 per dollar traded since five days ago. The Central Bank of Nigeria (CBN) has directed all foreign exchange users to access FX from the […]