investment

ZENITH BANK CEO INDUCTED CIS ASSOCIATE MEMBER Zenith Bank's CEO, Ebenezer Onyeagwu, has been inducted as an associate member of the Chartered Institute of Stockbrokers. CIS President Oluropo Dada praised Onyeagwu's successful completion of the institute’s professional exam and a practical...

NGX TRADING SUMMARY FOR FRIDAY, MAY 31, 2024 At the close of trading on the Nigerian Stock Exchange (NGX) on May 31, 2024, a total of 433,997,592 shares valued at NGN 8,575,279,947.31 were traded in 8,525 deals. This marked a 40% increase in volume, a 58% increase in turnover, and a 21%...

Quiz: Financial Finesse on Friday 1. Nigerian Stock Exchange (NSE) Foundation: In what year was the Nigerian Stock Exchange established? - A) 1946 - B) 1958 - C) 1960 - D) 1972 2. US Market Milestone: What is the name of the longest bull run in US stock market history? - A) The...

FLASHBACK FRIDAY FINANCE It's TGIF dear investors ❤️. Let's take a trip down memory lane and revisit some significant moments in Nigeria's financial and investment sector. Here are a couple of flashbacks: 1. Financial Sector Development and Economic Growth: Nigeria's financial system has...

Goodbye, May! Hello, June! Hello everyone! As May ends and June begins, let's get our finances in order. Picture May wrapping up and June ready to take over. 1. Getting Organized: - May brought us paychecks, bills, and unexpected expenses. Let's gather our receipts, balance our...

NIGERIAN DRUGMAKERS SEE 58% REVENUE RISE AS PRICES SOAR The combined revenue of three listed Nigerian pharmaceutical companies—Fidson Healthcare Plc, May & Baker Nigeria Plc, and MeCure Industries Plc—rose by 58 percent in the first quarter of 2024, reaching N33.4 billion from N21.13 billion...

CHRISLAND SCHOOLS TO ISSUE N2 BILLION IN COMMERCIAL PAPER AT 30% INTEREST RATE Chrisland Schools Limited has launched a N2 billion commercial paper issuance under its N8 billion programme. The offer, which opened on May 27, 2024, will close on June 5, 2024. Tranche A, with a 180-day term, is...

STERLING FINANCIAL HOLDCO TO SEEK SHAREHOLDERS ’ APPROVAL FOR N200 BILLION CAPITAL RAISE The Board of Sterling Financial Holdings Company Plc will seek shareholders’ approval at an annual general meeting (AGM) to raise up to N200 billion through various methods of share issuance in the...

HUGGIES MAKER, KIMBERLY-CLARK TO STOP PRODUCTION THREE YEARS AFTER INVESTING $100m IN NIGERIA Kimberly-Clark, the manufacturer of Huggies and other hygiene products, is set to shut down its Ikorodu production facility after investing $100 million in Nigeria. The plant has been operating below...

LET'S DISCUSS TREASURY BILLS What Are Treasury Bills (T-Bills)? - Treasury Bills (T-Bills) are short-term financial instruments issued by the government. Here are the key points: 1. Issued by the Government: - T-Bills are issued by the Central Bank of Nigeria (CBN). 2...

VFD GROUP REPORTED N2.62bn PROFIT IN Q1 Proprietary investment company, VFD Group Plc, has reported N2.62 billion as profit after tax for the first quarter of 2024. This was revealed in its Q1 unaudited financial results filed with the Nigerian Exchange Limited. During the period under review...

DANGOTE REFINERY EYES 500,000-BARREL PRODUCTION CAPACITY BY JULY Barring any last-minute changes, the $20 billion Dangote Oil Refinery is set to be listed on the Nigerian Stock Exchange by December 2024. Aliko Dangote, Chairman of the Dangote Group, expressed his desire for Nigerians...

SEC TO UNVEIL RECAPITALISATION FRAMEWORK FOR BANKS The Securities and Exchange Commission (SEC) has announced plans to release a framework to guide the capital market in the upcoming recapitalisation exercise by banks. Acting Director General Emomotimi Agama revealed this during a meeting with...

LESSONS FROM PHILIP FISHER'S ARTICLE "FIFTEEN POINTS TO LOOK FOR IN A COMMON STOCK" This guide provides a comprehensive checklist for evaluating potential investment opportunities in stocks. Here's a detailed explanation of each point: 1. Products with Potential: Does the company have products...

NGX TRADING SUMMARY FOR MONDAY, MAY 27, 2024 At the end of the first weekday of trading on the Nigerian Stock Exchange (NGX), a total of 366,979,725 shares in 8,031 deals, corresponding to a market value of NGN 5,939,982,423.32, were traded. Compared with the previous NGX trading day (Friday...

INVESTMENT STRATEGIES 103: HOW TO IDENTIFY A GOOD GROWTH STOCK Dear Investors! Welcome to our continuous study of growth investing! In this installment, we will look into the secrets of spotting promising growth stocks that can propel your portfolio to new heights. Identifying a good growth...

NIGERIA BENEFITS AS AFDB SETS $1.3 TRILLION ANNUALLY TARGET FOR AFRICA ’s DEVELOPMENT The African Development Bank (AfDB) has stated that African countries need $1.3 trillion annually to achieve sustainable development by 2030. This announcement was made on the AfDB website on Friday...

TOTALENERGIES SNUBS NIGERIA AGAIN, PLANS TO INVEST $600m IN CONGO French oil major TotalEnergies is set to invest $600 million to boost exploration and production in the Republic of Congo in 2024, bypassing the Nigerian oil and gas sector once more. TotalEnergies’ CEO Patrick Pouyanne...

TAJBank grows pre-tax profit to N11bn The profit before tax of TAJBank, one of the non-interest banks in Nigeria, grew by 122 per cent to N11.3bn in 2023. In the non-interest banking segment of the financial sector, that was the highest PBT recorded so far for 2023. TAJBank’s gross earnings...

ABBEY MORTGAGE BANK GROWS PROFIT BY 15% Abbey Mortgage Bank’s pre-tax profit rose by 15 per cent year-over-year to N951m in 2023, from N827m in the prior period. This was stated in a release by the bank ahead of its 32nd annual general meeting, scheduled for May 30. The AGM will highlight the...