Investors Await N212.85bn T-Bill Auction This Week

currencyInvestors in the country’s capital market are optimistic that the next Treasury bill auction slated for this week will boost activities in the fixed income market.

Expectedly, there were no significant movements in liquidity level last week, given the absence of auctions. However, the Open Buy Back and overnight rates declined by 4.83 per cent and 6.66 per cent respectively, to peg average money market rate at 18.55 per cent at the close of the week.

Activities in the Nigerian bond market seemed bearish, as indicated by a 0.04 per cent week-on-week change in average bond yield to 16.14 per cent.  Conversely, average yields declined in the T-bills space across all tenors to peg at 17.16 per cent as of Thursday, August 26, 2016. Read more

NSE, Bloomberg Hold Talks With Business Leaders

Second left: Nigerian Stock Exchange (NSE), Chief Executive Officer, Mr. Oscar Onyema; NSE Executive Director, Capital Market, Haruna Jalo-Waziri; Managing Director, MRS Oil Nigeria Mr. Andrew Gbodume, and General Counsel and Head, Regulation, NSE, Tinuade Awe, during the MRS Oil management’s visit to the Exchange in Lagos
Second left: Nigerian Stock Exchange (NSE), Chief Executive Officer, Mr. Oscar Onyema; NSE Executive Director, Capital Market, Haruna Jalo-Waziri; Managing Director, MRS Oil Nigeria Mr. Andrew Gbodume, and General Counsel and Head, Regulation, NSE, Tinuade Awe, during the MRS Oil management’s visit to the Exchange in Lagos

Business leaders and captains of industry will on Wednesday gather at the Nigerian Stock Exchange (NSE) to discuss opportunities and challenges in the Nigerian economy, as part of efforts to stimulate invest.

The 2nd NSE Bloomberg CEO Roundtable is a collaboration between the NSE and Bloomberg.

The CEO Roundtable themed “Navigating the Changing Business Landscape in Nigeria”, will bring together thought leaders and captains of industry to share in-depth knowledge about their sectors with capital market players and proffer much needed solutions to economic realities.

The panel at the event will feature chief executive officers from the financial services, telecommunications, manufacturing and portfolio management sectors as well as renowned economists. Read more

NSE Gains N54bn At Week Open

The Nigerian Stock Exchange market capitalization advanced by N54bn to close at N9.552tn from N9.496tn at the close of trading on the Exchange’s floor on Monday.

The market opened the week in gains rising by 0.60 per cent following advances in key sectors.

The NSE All-Share Index also appreciated to 27,812.06 basis points from 27,650.32 basis point recorded on Friday last week.

The financial services and consumer goods sectors recorded gains on the back of advances in Guaranty Trust Bank Plc (1.58 per cent gain), FBN Holdings Plc (0.97 per cent gain), Nigerian Breweries Plc (1.44 per cent gain) and Nestle Nigeria Plc (1.21 per cent gain). Read more

Law Union And Rock Woos Foreign Investors For Capital

Law Union & Rock Insurance Managing Director/CEO Jide Orimolade, former Chairperson Princess Adenike Adeniran, Company Secretary Stanley Chikwendu and the new Chairman, Remi Babalola at the firm’s 47th AGM in Lagos.

Law Union and Rock Insurance Plc is wooing foreign investors to inject capital into the firm to make it be among the top five in the country, the new Chairman of the company, Remi Babalola has said.

He made this known to reporters in Lagos.

Babalola said the company decided to woo foreign strategic investors to improve product distribution, upgrade processes and platforms, and deepen participation in oil and gas, power and transportation segments. Read more