Category

Research

In the news: SEC stops issuance of dividend paper warrants

By | Research | No Comments

Punch Nigeria’s monthly oil export to US rises by 56% The export of Nigerian crude oil to the United States rose by 56 per cent to 13.67 million barrels in October last year, the highest level since February 2013. SEC stops issuance of dividend paper warrants The Securities and Exchange Commission on Tuesday directed all registrars to stop the issuance of dividend paper warrants. FG rakes in N7.3bn from savings bond The Federal Government raised a total of N7.3bn from the FGN Savings Bond in 2017, the Debt Management Office data showed on Tuesday. Tin Can records 150% increase in…

Read More

In the news: Equities Market Opens Week Bearish

By | Research | No Comments

Punch Oando: Groups vow to resist attempt to frustrate audit Shareholder groups under the aegis of the Trusted Shareholders Association of Nigeria and the Oando Shareholders Solidarity Group have vowed to resist any attempt to frustrate the forensic audit of Oando Plc’s financials as ordered by the Securities and Exchange Commission. Foreign debt servicing gulped $197.29m in Q3 – DMO Nigeria spent a total of $197.29m to service foreign debts in the third quarter of this year, the Debt Management Office said on Wednesday. NEPZA licenses three new FTZs The Managing Director, Nigeria Export Processing Zones Authority, Mr. Emmanuel Jime,…

Read More

In the news: SEC to Strengthen Monitoring of Bond Proceeds Usage

By | Research | No Comments

This Day MPC May Not Meet Due to Lack of Quorum Following the refusal of the Senate to consider President Muhammadu Buhari’s nominees for the vacant positions in the Monetary Policy Committee (MPC), its first meeting for 2018, scheduled for the third week of January, might not hold due to lack of quorum. NCC Plans Unused Data Roll over to 14 Days Following complaints, the Nigerian Communications Commission (NCC) is to extend the grace period of unused data roll over to 14 days. SEC Moves to Strengthen Monitoring of Bond Proceeds Usage There are strong indications that the Securities and…

Read More

In the news: Naira further depreciates to N361.91

By | Research | No Comments

Punch NNPC plans 4,600MW power plants for Abuja, Kaduna, Kano The Nigerian National Petroleum Corporation on Wednesday announced that it would build power generating plants with combined capacity for 4,600 megawatts in Abuja, Kaduna and Kano states. Stocks end two-day losses, gain N54bn The Nigerian Stock Exchange reversed a two-day decline at the close of trade on Wednesday after the NSE market capitalisation appreciated by N54bn. Dispute: BUA welcomes Dangote’s decision on judicial process BUA International Limited has welcomed the decision of the Dangote Group to await the completion of the judicial process in the ongoing dispute by both parties…

Read More

In the news: Average T-bills yield closes at 14.57%

By | Research | No Comments

Punch Dangote Cement, Dangote Sugar, Ecobank top equity losers’ chart The Nigerian stock market continued in losses on Tuesday after Dangote Cement Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc recorded major losses in their share prices. Average T-bills yield closes higher at 14.57% The secondary market for Treasury bills was bearish for the second successive day of trading this week as the average yield closed higher at 14.57 per cent, gaining 1.13 per cent. NCC, CBN seek to curb financial frauds The Nigerian Communications Commission and the Central Bank of Nigeria are to sign a Memorandum of…

Read More

In the news: NSE weekly equities’ turnover hits N51.5bn

By | Research | No Comments

Punch Naira depreciates to 365/dollar despite CBN interventions The naira depreciated marginally by 0.55 per cent at the parallel market week-on-week to close at N365 on Friday. Banks borrow N671bn from CBN in five days Deposit Money Banks in the country borrowed the sum of N671.47bn from the Central Bank of Nigeria in the past five working days, data from the CBN have revealed. Nigeria, others need commodity-price surge to avert debt crunch–IMF The sub-Saharan Africa faces a potential debt crunch unless commodity prices improve and boost the pace of economic growth, the International Monetary Fund has said. Fuel queues…

Read More

In the news: CBN injects $210m into forex market

By | Research | No Comments

This Day Investors Stake N27bn on Equities as Dangote Cement Lifts Market High trading in the shares of Dangote Cement Plc on Tuesday lifted the overall value of transactions at the equities market by 445.4 per cent to N26.809 billion. IMF Harps on Economic Diversification for Nigeria, Others The Managing Director of the International Monetary Fund (IMF), Christine Lagarde on Tuesday stressed the need for Nigeria and other African countries to ensure that they diversify their economies in other to be able to withstand shocks. Bonds Lead Capital Market Issuances, Account for N1.4trn Bonds continued to dominate new issuances accounting…

Read More

In the news: FG plans N110bn bond auction

By | Research | No Comments

Punch CBN’ll use BVN to blacklist loan defaulters –Emefiele The Central Bank of Nigeria under the auspices of the Bankers’ Committee has concluded plans to use the Bank Verification Number of customers to blacklist loan defaulters from accessing further loans in the nation’s banking system. FG reviewing non-performing privatised firms’ operations — BPE The Bureau of Public Enterprises says it has started reviewing privatised public enterprises that have failed to live up to expectation. 577 firms bid for NNPC insurance renewal contract The Nigerian National Petroleum Corporation on Sunday said it had opened 577 bids submitted by firms seeking to…

Read More

ECONOMIC UPDATE: NOVEMBER 2017

By | Research | No Comments

According to figures from the NBS stated in this report, capital importation to Nigeria sustained its strong growth for the second consecutive quarter in Q3 2017. Capital flows riding the ranges Capital importation to Nigeria sustained its strong growth for the second consecutive quarter in Q3 2017, with combined flows of $4.1 billion over the quarter being two-fold higher QoQ and YoY, according to data from the NBS. In sync with trend, the strong capital flows emerged from portfolio flows which printed at $2.8 billion, an increase of 260% and 200% QoQ and YoY respectively, even as ‘other investment’ sustained…

Read More

In the news: Nigeria’s debt service ratio falls to 45%

By | Research | No Comments

Punch NNPC’s losses drop by 53% on Forcados revamp The group operational losses of the Nigerian National Petroleum Corporation dropped by 53.1 per cent following the revamp of the Forcados oil terminal and resumption of export activities there after it was shut down for several months. Conglomerates contribute 79.9% of equities’ volume turnover The conglomerates industry (measured by volume) led the activity chart of the Nigerian Stock Exchange last week with 11.396 billion shares valued at N14.534bn traded in 890 deals; thus contributing 79.94 per cent and 41.46 per cent to the total equity turnover volume and value, respectively. CBN,…

Read More