Otedola acquires additional N222bn FirstHoldco shares, now controls 26%
By Peter Egwuatu Femi Otedola, Chairman of First HoldCo, parent company of First Bank, has bought additional 1.779 billion shares of the company worth N222.209 billion. According to a statement signed by the company’s secretary, Abiola Baruwa, made available to the Nigerian Exchange Limited, NGX, yesterday, the shares were acquired through Otedola’s investment vehicle, Calvados Global Services Limited. […]
Stock market extends rally as investors reap N3.3trn
By Peter Egwuatu The Nigerian stock market extended its bullish run last week, as investors reaped N3.34 trillion gain, with sustained buying interest in banking, consumer goods and selected industrial stocks, which outweighed pockets of profit-taking witnessed across some other sectors of the market. The positive close on the Nigerian Exchange, NGX, further reinforced investor confidence […]
S&P raises Nigeria’s credit rating on stronger economy
Nigeria today secured a major boost in global investor confidence as S&P Global Ratings upgraded the country’s sovereign credit rating to ‘B’ from ‘B-’, citing improvements in macroeconomic stability, foreign exchange reforms and stronger oil sector performance.
Equities market loses N1.23trn as profit-taking persists
The equities market extended its bearish trend on Friday, shedding N1.226 trillion as investors recorded losses in major stocks.
Post-recapitalisation: CBN tightens grip on governance
With a combined N4.65 trillion injected into the system within two years, Nigerian banks have emerged from the exercise with significantly stronger capital buffers, improved resilience, and enhanced capacity to take on larger and more complex financial transactions.
CBN launches FX manual, grants extractive firms full proceeds access
The Central Bank of Nigeria (CBN) has launched the 4th Edition of the Foreign Exchange Manual which grants foreign companies in the extractive industry 100 percent unfettered access to their export proceeds.
