Stock Market

Diamond Bank Posts N13.8 Billion Half-Year Profit

Diamond Bank Plc has reported that it has realised a profit after tax of N13.8 billion in its unaudited results for the six months ended June 30, 2014. This represents an annual increase by nine per cent, compared to the

FIRS Collects N1.05 Trillion in First Quarter

    The Federal Inland Revenue service, FIRS said it collected N1.05 trillion in revenue during the first quarter of 2014. It said the amount exceeded its target for the period by N50.9 billion or 5.06%. This is contained in

Lafarge WAPCO Announces N8.6 Billion Profit Before Tax for Q1 2014

    One of the major manufacturers of cement in Nigeria, Lafarge WAPCO Nigeria plc has announced an income before tax of N8.6billion compared to N7.2billion recorded in Q1 2013- a 20% increase. In a statement released by the company,

Nigerian Breweries Announce N43.1 Billion Profit

Nigerian Breweries has announced a profit of N43.1 billion after tax for financial year ended December 31, 3013. This reflects an increase of 13.2 percent when compared to N38 billion recorded in the same period in 2012. The company’s revenue

LeadTrader Offers Investors Secure Channel to Trade Shares

    Lead Securities & Investments Limited, a broker-dealer subsidiary of LeadCapital Plc launched LeadTrader on Tuesday, a new online real time trading platform at the Nigerian Stock Exchange (NSE). LeadTrader offers investors a secure channel to buy and sell

Seplat Raise 300.9 Million Through IPO

Independent oil and gas company, SEPLAT Petroleum Development Company, yesterday, Wednesday, Match 9, 2014, said it raised 300.9 million pounds (about 300.9 million naira) in its initial public offering, at a dual listing in the London and Nigeria’s Stock Exchanges.

Airtel Leapfrogs Glo To Become Nigeria’s Second Largest Mobile Operator

Fresh data released by the Nigerian Communications Commission (NCC) says Airtel experienced a rise from 24,847,567 subscribers last December to 26,194,336 in February this year. This makes Airtel, the second largest network ahead of Globacom which experienced a 6% drop

Nigerian Banks Are Best Buys in Sub-Saharan Africa – Exotix

Exotix Limited, a United States registered broker and member of FINRA and SIPC has endorsed Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc among the top five Nigerian lenders worthy of investment. Exotix noted that the

Nigerian Stock Exchange (NSE) Set To Slash Transaction Costs By Over USD 6 millions

The Nigerian Stock Exchange (NSE) has commenced the reduction of the cost of its Trade Alert service by about 1.24 billion naira from March 2014 via the scrapping of the current charge of 0.06% of every trade on the bourse

FXTM Rewards Journalists at Training Workshop and Demo Contest in Lagos

In the bid to improve understanding of forex trading and reporting of the money market in Nigeria, global broker Forex Time Ltd (FXTM) recently organised a one-day training workshop and forex demo competition for journalists in Lagos. FXTM, a financial

US Banking Firm, JP Morgan, Recommends UBA Shares to Investors

According to a report by the United States-based banking giant, JP Morgan, investors in one of Nigeria’s financial institution, United Bank for Africa Plc (UBA), can make a possible return of 45 percent over the next 12 months. The

Tony Elumelu made $123 million in 3 Weeks

Nigeria’s business magnate and former UBA CEO, Tony Elumelu, made $123 million in three weeks between November 1 and November 21 2013, as shares of Transcorp Plc surged by 186 percent within that period. According to a report by Forbes

Nigerian Stock Exchange Records $4.7 Billion in Foreign Investment

The Management of the Nigerian Stock Exchange (NSE) has revealed that inflows and outflows of foreign portfolios in Nigeria’s stock market has hit N747 billion ($4.7 billion). The NSE submits that foreign transactions from January to March was N217.57 billion

SEC wins Most Innovative Capital Markets Regulator Award

Nigeria’s Securities and Exchange Commission (SEC) has won the 2013 Africa Index Series Award for the “Most innovative Capital Markets Regulator” the second year in a row. Winning the award back – to – back, is due to several multifaceted

Market Update: Confidence Resurfaces in Eurozone

Nothing too out of the ordinary emanated from the US last week, with an array of both disappointing and encouraging key economic indicators released. The Consumer Price Index (CPI) rose only 0.1% in August as opposed to July’s figure of

Sovereign Wealth Fund: Nigeria Invests in $200 Million US Bonds

Nigeria through its Sovereign Wealth Fund (SWF) has invested $200 million in the bond market of the United States. This, according to SWF, “Is the 20% stabilization fund set aside from the $1 billion wealth fund, to be used for

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