Trading turnover on new I&E FX window hits $1bn

A turnover of $1.075bn was recorded on the recently introduced Investors’ & Exporters’ FX window for the weeks-ended April 28 – May 12, 2017 data from the FMDQ OTC Securities Exchange (FMDQ), show. Still within the week, contracts worth $30.30mm traded in fourteen (14) deals in the Naira-settled... [More]

Naira Consolidates Strength Against Dollar

The Naira on Friday in Lagos consolidated its position against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports. The Nigerian currency on Friday afternoon exchanged between N380 (buying rate) and N390 (selling rate), stronger than N400 recorded on Thursday, while the pound... [More]

Trading Sustains Growth On NSE, Up By 0.07%

Activities on the Nigerian Stock Exchange (NSE) for the second consecutive day on Wednesday ended positively, with the market capitalisation growing by N6 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N8.750 trillion, rose by N6 billion or 0.07 per ... [More]

Earnings season: Speculator move to raise bet on value stocks

The Nigerian stock market started this week on a positive note as investors increasingly respond to impressive full year 2016 earnings already trickling into the market. More on the buyers’ list at the local bourse are speculators willing to raise equity wagers particularly on value stocks most of w... [More]

Equities Market Ends Week At 0.34% Up

The Nigerian equities market recorded its first weekly gain in the month of February after three consecutive weeks of declines. The gain, was driven by investors re-investing in consumer goods companies which had been the subject of sell-offs in past weeks. Excluding that, the investing landscape wa... [More]

Equities Bearish Run On Weaker Earnings Expectation

Performance of the Nigerian equities stayed bearish as investors snubbed equities on weaker earnings expectation. In summary, the NSE-ASI shed 462.52 absolute points or 1.79 per cent to close at 25,340.02 points, last week. Similarly, the market capitalization depreciated by N122 billion to close at... [More]

Stock Market Trades 207mn Shares

The Nigerian stock market, yesterday traded a total volume of 207 million shares. According to report on the Nigerian Stock Exchange (NSE), the activity level surged in the stock market as volume and value traded increased by 43.8 per cent and 82.7 per cent to 207.2 million units and N1.6 billion re... [More]

Stock Market Records N47bn Turnover On 8bn Shares

The Nigerian stock market has recorded a turnover of N47.7 billion on 8.12 billion shares in 61,515 deals for the month of January 2017. This is in contrast to a total of 4.6 billion shares valued at N31.8 billion exchanged in 50,531 deals recorded during the same period in 2016. According to data b... [More]

These lenders have the cheapest valuation

Among Nigeria’s lenders, Diamond Bank Nigeria Plc and Skye Bank Nigeria Plc have the weakest price-to-book ratio, which measures the stock price against the value of assets minus liabilities. Both banks have been seeking ways to boost capital buffers and profitability to reverse a slump in their sha... [More]

Reps Summon CBN Governor, Petroleum Minister over Forex Fraud

The House of Representatives has summoned the governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, Minister of State for Petroleum Resources Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baro over irregularities discovered in t... [More]