The Nigerian stock market capitalisation, on Tuesday, August 13, 2024, extended losses by N278 billion or 0.50 percent, following selloffs in BUA Cement, Zenith Bank, and FBN Holdings, among other declined equities. The Nigerian Exchange Limited (NGX) market capitalisation which opened at N55.574 trillion closed at N55.296 trillion. The All-Share Index also decreased by 0.50 […]
Continue Reading
Access Holdings The Securities and Exchange Commission has approved the extension of the rights issue of Access Holdings Plc to August 23. A statement from the financial institution indicated that its N351bn rights issue, earlier scheduled for Wednesday, has been extended due to the effects of the hunger protests across the country. Access Holdings issued […]
Continue Reading
Seplat Energy PLC will pay N28 billion in interim dividends to its shareholders for the second quarter of 2024. A corporate disclosure on the NGX website shows that the company will use an exchange rate of N1,570.99 per dollar—NAFEM’s closing rate on August 12—for its Q2 2024 interim dividend payment. With an interim dividend of […]
Continue Reading
Zenith Bank has started the process to raise N290bn fresh capital through rights issues and a public offer, to bolster its expansion efforts The bank is issuing 5.23 billion shares at N36 each to existing shareholders and 2.77 billion shares at N36.50 each to the public. This was disclosed by the Group Managing Director/Chief Executive […]
Continue Reading
Zenith Bank Plc has said part of its ongoing N289.38 billion hybrid offer will be used for the growth and expansion of its global operation. The Bank is raising N289.38 billion through a combination of a rights issue and a public offer. The rights issue offers 5.233 billion ordinary shares of 50 kobo each at […]
Continue Reading
The Central Bank of Nigeria has disclosed that the net foreign exchange flows into the country increased to $25.4bn in the first six months of 2024, marking a 55 percent increase from the figure recorded year-over-year. It said the evident progress is a result of its policy measures, as the naira closed at N1,596 against […]
Continue Reading
Karl Toriola: MTN CEO MTN Nigeria Communications PLC, on Wednesday, said it had renegotiated the binding commercial terms of the existing infrastructure sharing and master lease agreements with IHS and ATC Nigeria. Specifically, the company said it had revised the terms of its contract with IHS to substantially reduce the US dollar-indexed component of the […]
Continue Reading
In the latest testament to the Central Bank of Nigeria’s (CBN) ongoing commitment to support the proper functioning of the foreign exchange market by enhancing liquidity when necessary, the apex bank offered $876 million to fulfill bids submitted by customers at an auction concluded on Wednesday, August 7, 2024. In line with its pledge to […]
Continue Reading
Dollar to Naira CBN Rate Today Dollar to Naira (USD to NGN) CBN Rate Today Buying Rate N1605 Selling Rate N1606 Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary. Naira Fights Back Against US Dollar At Official Market The Nigerian […]
Continue Reading
Nigerian magnate and industrial powerhouse, Aliko Dangote, has stormed back to the pinnacle of Africa’s rich list, reclaiming his title as the continent’s wealthiest man on the Bloomberg billionaire index, mere days after ceding it to South African tycoon, Johann Rupert. In a dramatic turn of fortunes, Bloomberg reports that Dangote’s immense wealth surged by […]
Continue Reading
