Frontier markets set to attract higher capital inflows on global rate cuts
Post AMUGE
January 27, 2025
Bamidele Famoofo Frontier markets which include Nigeria, world’s most populous black nation, will reap the fruit of rate cuts in a bid to curb inflation by big economies. Central banks have made substantial progress in the fight against inflation in recent times. In July 2022, the median inflation rate worldwide was 9.4 percent, the highest […]
SEC moves to review framework on govt., corporates borrowing
Post AMUGEJanuary 9, 2025
Bamidele Famoofo The Securities and Exchange Commission has said it would improve the regulatory framework on borrowing by governments and corporates. Emomotimi Agama, director general of the commission, said this has become important given the Supreme Court order on direct subvention from the federal government to the 774 local government areas He noted the critical role borrowing […]
Turnover in fixed income market soars on high yields as investors inject N59trn in November
Post AMUGEDecember 30, 2024
Bamidele Famoofo Investment in the fixed income and currency market maintained a bullish run in 2024 with transactions in the twilight of the year (November) recording a 111.8 per cent growth year on year (N31.16trn) higher than the turnover in November 2023. On month on month basis, investments in the secondary market of the FIC […]
Turnover on FMDQ market rose 90.05% YoY to N41.23trn in October
Post AMUGENovember 25, 2024
Bamidele Famoofo Total secondary market turnover recorded on FMDQ Exchange in October 2024 was ₦41.23trilion, representing a MoM increase of 14.54 per cent (N5.23trn) and a YoY increase of 90.05 per cent (N19.53trn) from September 2024 and October 2023 figures, respectively. Foreign Exchange (FX) and Money Market (MM) transactions dominated secondary market activity, jointly accounting […]
Excelsior Shipping proposes N105.2bn deal to buy minority shares in Flour Mills
Post AMUGESeptember 29, 2024
Cynthia Ezekwe Agro-allied heavyweight Flour Mills of Nigeria (FMN) Plc has informed the Nigerian Exchange Limited (NGX) and its shareholders of Excelsior Shipping Company’s offer to acquire the remaining minority shares in the business. Excelsior, FMN’s current major shareholder, holds 2.59 billion shares, representing a 63 percent stake in the company with a market value […]
SEC seeks to boost NGX listings with state-owned enterprises
Post AMUGESeptember 20, 2024
Business a.m. The Securities and Exchange Commission (SEC) has urged government agencies and state-owned enterprises to list on the Nigerian Exchange Ltd (NGX). Emomotimi Agama, the director-general of the Securities and Exchange Commission, in a recent interview with news outlets in Abuja, emphasised the importance of such listings for deepening the nation’s financial markets and […]
Post AMUGESeptember 2, 2024
SEC mobilises special units to tackle N215bn unclaimed dividends
Post AMUGEAugust 19, 2024
Business a.m. Emomotimi Agama, director general, Securities and Exchange Commission (SEC); Temi Popoola, group chief executive officer, Nigerian Exchange (NGX Group); and Amos Isaac Azi, chairman, Investments and Securities Tribunal, at the second Capital Market Committee meeting in Lagos, recently. The Securities and Exchange Commission (SEC) has assured that, barring unforeseen circumstances, it will address […]
Nigerian investors missing out on N215bn dividends, says SEC
Post AMUGEAugust 16, 2024
Business a.m. Unclaimed dividends in Nigeria’s financial market have risen to N215 billion as of March 2024, indicating a significant rise in unclaimed payments, as revealed by the Securities and Exchange Commission (SEC). Emomotimi Agama, the newly appointed director general of SEC made the disclosure during the second 2024 Capital Market Committee (CMC) meeting held […]
Analysts upbeat on stock, fixed income markets outlook for H2’24
Post AMUGEJuly 22, 2024
Phillip Isakpa In London, UK Analysts at Lead Capital are upbeat about the outlook for the capital and fixed income markets for the second half of the year. In a note sent to Business a.m. titled “Nigeria in the First Half of 2024 and Outlook for the Second Half of the Year”, analysts at Lead […]