Capital market – Page 48

Ecobank partners LCCI in promoting export businesses

Lagos, April 2, 2023 – Ecobank Nigeria in collaboration with Lagos Chamber of Commerce and Industry (LCCI) has organised a seminar to provide insights into the various financing options available to exporters. The seminar also avail exporters of the regulatory frameworks as well as the role of public and private sector institutions in promoting exports businesses. Speaking at the ceremony, Dr Oladele Cole, the President of LCCI, said breaking barriers to export finance was critical to stakeholders in the export and import business. He said the seminar was to expose …

gbn April 2, 2023April 2, 2023

Avoid investment offers with quick, high returns – NDIC boss

Enugu, March 30, 2023 – Mr Bello Hassan, the Managing Director of the NDIC, has advised Nigerians to avoid investment offers with quick and arbitrarily high returns. Hassan, gave the advice in Enugu on Thursday while speaking at the NDIC Day at the Enugu International Trade Fair. He said that the safest, smartest and most prudent place to deposit money is in the formal banking system because of the protection of such deposits by the NDIC. “Such deposits also enjoy the benefit of effective regulation and supervision of relevant authorities, …

gbn March 30, 2023March 30, 2023

Capital market

N300bn Bond: Dangote lauds NGX market depth

Lagos, March 30, 2023 – Mr Olakunle Alake, the Group Chief Executive Officer of Dangote Industries Limited, on Wednesday expressed delight at the completion of the listing of the firm’s N300 billion series 1 and 2 Bonds on Nigerian Exchange Limited. He also commended the depth of the Nigerian capital market. Alake expressed the delight at the Closing Gong Ceremony commemorating the listing of the bond held at the Exchange on Wednesday, 29 March 2023. Alake, who was represented by the Group Chief Finance Officer, Mallam Mustapha Ibrahim, said: “we …

gbn March 30, 2023March 30, 2023

Business Planning General News

BudgiT calls for breakdown of N869bn census budget

Abuja, March 28, 2023 – BudgIT, a civic organisation on budget and public data transparency, has urged the National Population Commission (NPC) to publish the breakdown of the N869 billion budget for 2023 National Population Census. BudgiT made the call in a statement signed by Nancy Odimegwu, its communications associate. It said that the 2023 elections had just ended and Nigeria could draw some wisdom from it to help save costs during this critical period. BudgiT said Nigerian government should work on reducing the multidimensional poverty of over 133 million …

gbn March 28, 2023March 28, 2023

Capital market

NGX traded N11bn worth of shares last week

Lagos, March 27, 2023 – The Nigerian Exchange (NGX) traded 1.689 billion shares worth N11.066 billion in 14,019 deals on last week. This was in contrast to the 853.745 million shares valued at N11.841 billion traded in 18,543 deals in the preceding week. The Healthcare Industry, measured by volume, led the activity chart with 1.086 billion shares valued at N1.627 billion traded in 267 deals. The sector contributed 64.32 per cent and 14.70 per cent to the total equity turnover volume and value, respectively. The Financial Services Industry followed with …

gbn March 27, 2023March 27, 2023

Business Solutions

Coca-Cola: Creating a better shared future through women economic empowerment

By Alfred Olajide ‘Equality is not just the right thing to do, it is smart economics. No society can ever truly flourish if it stifles the potential of its women and deprives itself of the contribution of half its citizens.’ At Coca-Cola, we know that women are not only essential to building thriving communities – we truly believe they represent one of the biggest accelerators of economic growth globally, which is why Coca-Cola is creating shared opportunities for our communities. We believe that a diverse, equitable and inclusive workplace makes …

gbn March 16, 2023March 16, 2023

Business Planning Foreign

AfCFTA, Afreximbank sign agreement on AfCFTA fund

Kigali (Rwanda), March 14, 2023 -The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) have signed the Host Country Agreement for the AfCFTA Adjustment Fund with the Republic of Rwanda. The agreement, signed by H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat; Mrs Kanayo Awani, Executive Vice President, Intra-African Trade Bank at Afreximbank; and Dr Vincent Biruta, Minister of Foreign Affairs, and International Cooperation of the Republic of Rwanda, is to pave way for the operationalisation of the AfCFTA Adjustment Fund. The US$10 billion Fund, headquartered in Kigali, Rwanda, is a critical …

gbn March 14, 2023March 14, 2023

Capital market

NGX traded N18.436bn worth of shares last week – official

A total 1.910 billion shares worth N18.436 billion were traded in 20,311 deals on the Nigerian Exchange last week. This was in contrast to the 799.848 million shares valued at N29.354 billion traded in 14,194 deals on the Exchange in the preceding week. The ICT Industry, measured by volume, led the activity chart with 601.396 million shares valued at N2.676 billion traded in 1,607 deals. The sector contributed 31.49 per cent and 14.52 percent to the total equity turnover volume and value, respectively. The Financial Services Industry followed with 585.510 …

gbn March 6, 2023March 6, 2023

Agriculture Capital market Manufacturing/Industry Money market

ECONOMIC AGENDA FOR INCOMING ADMINISTRATION

By – DR MUDA YUSUF The Nigerian economy is in a stumbling and fragile state and in dire need of a new direction. The political transition offers a great opportunity to chart a new course. ECONOMIC GOVERNANCE The administration should establish quality economic governance consistent with tested economic principles and empirical evidence, and contextualized within socio-economic peculiarities. This is critical from the onset of the administration for signaling and investors’ confidence. Good economic governance framework would entail the following: FOREIGN EXCHANGE POLICY REFORM OIL AND GAS SECTOR REFORM OIL AND …

gbn March 5, 2023March 5, 2023

Capital market

NGX earned N7.5bn in 2022 – official

Lagos, March 2, 2023 – The Nigerian Exchange Group (NGX) achieved a year-on-year (YoY) growth of 10.3% in gross earnings to ₦7.5 billion in FY 2022 from ₦6.8 billion reported in FY 2021. The group said this while announcing its audited results for the financial year ended Dec. 31, 2022 in Lagos on Thursday. The group said this double-digit growth in the top line was because of the persistent growth in revenue (82.3% of gross earnings) and an impressive 30.1% increase of other income. Its revenue grew by 6.8% to …

gbn March 2, 2023March 2, 2023