The Managing Director, Cowry Asset Management Limited, Mr. Johnson Chukwu has said that the only solution to Nigerian exchange rate crisis is improving crude production. Chukwu stated a webinar tagged HY 2024 Nigerian Economic and Financial Markets Review and Outlook for H2 organized by the company. He noted that government’s […]
Category: Money Market
Money Market
GTCO unveils N400.5 billion public offer to fuel international growth and innovation
Guaranty Trust Holding Company Plc (GTCO) has unveiled plans for a substantial N400.5 billion capital raise through a public offer, aimed at fortifying its financial foundation and expanding its global presence. The announcement, made during the “Facts Behind the Offer Presentation,” featured insights from GTCO’s Group Managing Director, Mr. Segun […]
Tier-1 banks report 2024: Access Holdings leads in PBSI ranking
In recognition of its outstanding performance, Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report. The PBSI, which evaluates banks based on a comprehensive set of financial metrics derived from audited financial statements for the Financial Year 2023, underscores Access […]
Nigerian capital market primed to support bank recapitalization initiatives
The Nigerian capital market is strategically positioned to drive the ongoing bank recapitalization exercise, leveraging advanced technology to facilitate the capital-raising efforts mandated by the Central Bank of Nigeria’s new requirements. Nigerian Exchange Group Plc (NGX Group) and its subsidiaries are spearheading this initiative, working in close collaboration with the […]
Access Holdings launches N351 billion rights issue for capital enhancement
Access Holdings Plc has held a formal signing ceremony as part of the arrangements to raise a total of N351 billion by way of a rights issue to existing shareholders. The offer is part of the group’s strategy to enhance its working capital requirements, which includes organic growth funding for […]
Financial expert urges overhaul of Nigeria’s economic policies amid rising debt
A financial expert and Chief Executive of CFG Advisory, Mr. Tilewa Adebayo, has called for urgent remedial legislation and a comprehensive overhaul of Nigeria’s trade, industrialization, and investment policies. He emphasized the necessity of eliminating wasteful subsidies to address the country’s mounting economic challenges. This call to action follows Nigeria’s […]
Nigeria’s cryptocurrency market worth over $400m – SEC
The Director General of the Security and Exchange Commission (SEC) Emomotimi Agama, has said that Nigeria’s cryptocurrency market is estimated to be worth over $400 million, with a significant portion of the population involved in cryptocurrency trading and transactions. Speaking at the 2024 Annual Conference of the Association of Capital […]
Market operators give reasons why investors should buy Fidelity Bank’s offers
Fidelity Bank Plc has commenced its N127.1 billion combined rights and public offers, receiving enthusiastic support from the investing public. Key capital market stakeholders highlighted the bank’s impressive growth and investor-friendly policies over the years as reasons for their strong endorsement. The Nigerian Exchange (NGX), stockbrokers, investors, and customers have […]
Nigeria records $24 billion FX inflow in Q1 2024 – CBN Governor Cardoso
Nigeria’s Central Bank Governor, Yemi Cardoso, announced that the country recorded a total foreign exchange inflow of approximately $24 billion in the first quarter of 2024. This significant figure, the highest since 2021, was disclosed during an interview with Bloomberg TV in London. Governor Cardoso highlighted the positive impact of […]
CIS urges full tech integration in every stage of bank recapitalization process
Chartered Institute of Stockbrokers (CIS) has called on the Central Bank of Nigeria (CBN) and capital market regulators to ensure a wholesome adoption of technology in every stage of the recapitalization process of the banking sector. The 13th President and Chairman of the Governing Council of Chartered Institute of Stockbrokers […]