The Abraaj Group has said it will convert its $10m loan to C & I Leasing Plc to equity. According to a statement made available to the Nigerian Stock Exchange on Tuesday, the conversion is following the 2018 maturity of the $10m unsecured, coupon redeemable, convertible loan stock in C & I Leasing Plc. The…
China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of “around” 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher U.S. tariffs and weakening domestic demand. The proposed target, to be unveiled at the annual parliamentary session in March, was…
Equities Market • At the close of today’s Trading session, the Nigerian equities Bourse Inched higher by 0.62% as measured by NSE ASI and Market capitalization, as they both closed at 29,517.73 points and N11,007.43tr respectively. Year-to-Date ASI is at a negative of 5.00%. • Volume, Value of trades both appreciated by 64.03% and 36.61%…
Skyway Aviation Handling Company Plc has revealed plans to expand as its N1.89bn Initial Public Offering draws to a close. The firm, in a statement on Monday, said it planned to consolidate its leading position in the Nigerian aviation handling industry by expanding into other West African countries as part of efforts to ensure long-term…
Equities Market At the close of today’s Trading session, the Nigerian equities Bourse declined further by 1.20% as measured by NSE ASI and Market capitalization, as they both closed at 30,036.15 points and N11,200.75tr respectively. Year-to-Date ASI is at a negative of 3.33%. Volume, Value of trades both declined by 2.85% and 20.13%, while No…
The deal led by the Organisation of Petroleum Exporting Countries to cut 1.2 million barrels per day from the start of this month should bring balance back to the oil market in the first quarter of 2019, the UAE’s Energy Minister, Suhail al-Mazrouei, has said. The minister said last month that OPEC and non-OPEC producers…
The Federal Government has proposed to spend a total of N2.26tn on debt servicing in the 2019 fiscal year, this was contained in the detailed budget proposal which was obtained by our correspondent in Abuja. The proposal for debt servicing is more than 25 per cent of the N8.83tn which the Federal Government proposed for…
FMDQ OTC Securities Exchange has launched what it called ‘Dealing Member (Specialists) Market’ for trading in fixed income with banks in the Nigerian debt capital market. It said the market development initiative came on the back of the fragmentation identified in the fixed-income market. According to the FMDQ, the market will provide seamless integration of…
Equities Market At the close of today’s Trading session, the Nigerian equities Bourse declined further by 0.96% as measured by NSE ASI and Market capitalization, as they both closed at 30,771.32 points and N11,474.90tr respectively. Year-to-Date ASI is at a negative of 0.96%. Volume, Value of trades both declined by 21.09% and 27.79%, while No…
President Muhammadu Buhari on Tuesday said the Federal Government would release $700m to states to improve the level of governance and public finance management. He said this at the annual conference of Auditors-General of Nigeria. The conference with theme “Nigeria’s drive towards the achievement of Sustainable Development Goals: The strategic roles of Auditors-General” was attended…