In the news: NSE’s indices soar by N370 billion
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Manufacturing index hit 56.3 points in February – CBN The Central Bank of Nigeria’s manufacturing Purchasing Managers’ Index hit 56.3 index points in February, the CBN’s PMI survey report showed on Wednesday. MTN eyes $5.2bn NSE listing in July MTN Group plans to list its Nigerian unit worth $5.23bn by July in a debut Initial Public Offer on the Nigeria Stock Exchange and will raise fresh funds to reduce debt, according to pre-IPO presentation seen by Reuters. Again, CBN warns against investment in Bitcoin, others The Central Bank of Nigeria on Wednesday cautioned Nigerians to be wary of investments in cryptocurrencies, stating that virtual currencies were not legal tender in the country. SEC’s free e-dividend registration ends The free e-Dividend registration exercise for shareholders of publicly-quoted companies in Nigeria has finally ended. $2bn needed to revive Lagos-Kano rail line – Osinbajo Vice-President Yemi Osinbajo on Wednesday said Nigeria would need $2bn (N610bn) to revive the Lagos-Kano rail line as part of efforts to boost local and international trade along the northern and southern zones. Nigerians are getting poorer, says IMF Nigeria’s people are getting poorer despite the country’s slow recovery from recession and economic reforms are urgently needed, the International Monetary Fund has said. THE NATION Nigeria gas reserves up by 4.067tcf, says NNRC Nigeria‘s natural gas re-serves have risen by 4.067 trillion cubic feet (tcf) from 187.998tcf in 2014 to 192.065tcf in 2015, the Nigerian Natural Resource Chapter (NNRC) has said. Shrinking oil demand: SPE calls for investment in renewables As global demand for fossil fuels begins to dwindle, Nigeria needs to increase its investments in renewable energy, the Society of Petroleum Engineers (SPE), Nigeria Council, has advised. Africa Prudential, United Capital declare N2.9b dividend Shareholders of Africa Prudential (APR) Plc and United Capital Plc will receive N2.9 billion as total dividend payout for the immediate past business year. THISDAY Seplat Recovers from Loss, Posts N81bn Profit After Tax Seplat Petroleum Development Company Plc thursday announced its audited results for the year ended December 31, 2017, showing a recovery from the loss posted in 2016. CBN Urges Risk Managers to Support Economic Growth The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has advised risk managers in the country to ensure that their activities in their respective institutions support government’s efforts towards achieving sustainable growth. Over 100 Foreign, Local Firms Bid for Ibom Deep Seaport Following the increased interest by the federal government, more than 100 local and foreign companies have reportedly indicated interest in the development of the Ibom Deep Seaport in Ibaka, Mbo Local Government Area of Akwa Ibom State. CBN disburses smaller naira notes to traders to end scarcity To check rising inflation, the Central Bank of Nigeria (CBN), Tuesday began the disbursement of smaller naira notes to traders in order to improve the circulation of N5, N10, N20, and N50 in the market. NSE’s indices soar by N370 billion Ahead of the full year result of listed companies, investors increasing demand for fundamentally sound dividend paying stocks, coupled with high expectations of improved dividend yield, yesterday, buoyed transactions on the trading floor of the Nigeria Stock Exchange (NSE), as market capitalisation soared significantly by N370 billion. |
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