Nigeria | - Part 99

Nigeria: NSE Plans Initiatives to Maintain Africa’s Investment Destination

The Nigerian Stock Exchange, NSE, has expressed it readiness to introduce initiatives that will help position it as attractive listing and investment destination in Africa. This, according to the NSE Chief Executive, Mr. Oscar Onyema, is in keeping with its unwavering commitment to solidify its leadership position as Africa’s foremost securities exchange. Addressing journalists in a press conference, Onyema said the Exchange will focus on delivering several initiatives in support of its revised strategy within…

Nigeria’s equity positive momentum: 17 Feb 2015

Posted on by The Editorial Team

NSE ASI rises 261bps The Nigerian Equity Market sustained upward momentum today as the All Share Index surged 261 basis points to close at 28,452.60pts while market capitalisation also added N241.6bn to close N9.5tn. Today’s positive performance was an extension of yesterday’s price appreciation in large cap stocks — Dangote Cement (3.6%), GTBank (8.5%) and Nestle (5.0%). Market activity however softened, as volume and value traded declined 2.7% and 50.6% to 500.2m units and N3.5bn…

Nigeria’s inflation rate rose to 8.2 percent

Posted on by The Editorial Team

Faster Growth in Core Index drives Headline Inflation Higher The National Bureau of Statistics (NBS) released Nigeria’s Inflation estimates for January 2015 today (16/02/2015). The NBS estimated that the Headline inflation rose 20bps Year on year (y-o-y) from December 2014 to 8.2% in January 2015. Although the accelerated growth in the Headline Index was in line with the broader market expectation, the actual growth estimated by the NBS was 30bps lower than our forecast –…

Nigeria’s equity gains N47.8bn: 16th Feb 2015

Posted on by The Editorial Team

NSE ASI up 52bps After seven days of consecutive losses on the Nigerian bourse, the All Share Index gained 52bps today to close at 27,728.63bps. Also, market capitalisation added N47.8bn to close at N9.3tn. Today’s gain was as a result of price appreciation in bellwether stocks – Dangote Cement (1.5%), Zenith (3.4%) and GTBank (2.4%). Similarly, market activities measured by volume and value traded advanced today by 1.4% and 0.1% to berth at 513.9m units…

Cross-border expansion of Nigerian banks: has it improved the continent’s regulatory and supervisory frameworks?

Posted on by The Editorial Team

Nigerian banks expanded into other African countries following the 2004 consolidation that increased minimum capital requirements more than tenfold. Most banks expanded their operations domestically and internationally by increasing branch networks in the domestic market and opening subsidiaries abroad. United Bank for Africa (UBA) and Access Bank combined are operating in more than 20 countries on the continent. Cross-border expansion has taken place through the setup of subsidiaries, thus adding to the number of banks…

This week on the frontiers: Nigeria grabs fund managers’ attention

Posted on by The Editorial Team

Within the past week, Nigeria postponed its presidential election, begged for more international help in fighting Boko Haram, saw its currency plumb a new record low, and joined a list of countries that ratings agency Standard & Poor’s is poised to downgrade. The impact on investors? They’re starting to like what they see. Michael Levy, manager of Barings’ $50m frontier markets fund, says the country’s market is starting to be “extremely cheaply valued”. In an…

Nigeria: election delay heightens risks

Posted on by The Editorial Team

On Saturday, 7 February, the Nigerian presidential election was officially postponed from 14 February to 28 March due to security concerns. The opposition party, the All Progressives Congress (APC), has called this a “setback for democracy”. They claim that the incumbent People’s Democratic Party (PDP) may be using the terrorist insurgency in the Northeast as an excuse to delay an election they believe they cannot win.With this election set to be the closest since the end…

« 1 … 97 98 99 100 101 »