The Securities and Exchange Commission (SEC) has sounded a renewed warning on the dangers of Ponzi schemes, highlighting their devastating impact on investor confidence, financial stability, and the Nigerian capital market. This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented […]
Category: Financial Market
Financial Market
TotalEnergies Sells 12.5% Stake In Nigeria’s OML118 To Shell For $510m
French energy giant TotalEnergies has sold its 12.5 per cent non-operated stake in Nigeria’s OML 118 Production Sharing Contract to Shell Nigeria Exploration and Production Company Ltd (SNEPCo) in a deal valued at $510m. The transaction, conducted through TotalEnergies’ local subsidiary TotalEnergies EP Nigeria (TEPNG), marks another step in […]
MTN Nigeria Gets AAA Rating From GCR, Outlook Upgraded To Stable
MTN Nigeria Communications Plc has received an affirmation of its national scale long-term and short-term issuer ratings of AAA and A1+, respectively, from Global Credit Rating Co. Limited (GCR) with the rating outlook revised upward from Negative to Stable. GCR also reaffirmed the AAA long-term issue ratings on all […]
Do not Patronise Silverkuun, SEC Warns
The Securities and Exchange Commission has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited. In a circular issued in Abuja, Wednesday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and […]
Otedola Declared the Activist Investor and Market Maker of the Year at Nairametrics Awards……….First Holdco Plc, FirstBank and First Asset also Shine at the Awards
First HoldCo Group had a great outing at the Nairametrics Capital Market Choice Awards ceremony which was held last Friday at the Civic Centre, Victoria Island, Lagos. The harvest of awards started with the Group Chairman of the Holding Company, Mr. Femi Otedola, CON, blazing the trail by being honoured […]
United Capital Asset Management unveils investment fund for children
United Capital Asset Management (UCAML), a leading asset management company and subsidiary of United Capital Group, has launched its latest mutual fund – The Children Investment Fund to shape the financial future of the next generation and to boost financial literacy. The Children Investment Fund is a naira-denominated, open-ended […]
MAN Urges CBN Action Over Banks’ Forex Forward Disputes
The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to urgently intervene in what it describes as unjust treatment of its members by certain commercial banks over unresolved foreign exchange (forex) forward obligations. The Association alleged that some banks have taken punitive […]
EAAIF Completes $325m Debt Raise To Accelerate Investments in Africa, Asia
The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group (PIDG) company managed by Ninety One, has raised $325m in new debt facilities, bringing recent commitments to $620m and exceeding the Fund’s $500m target ahead of schedule. The debt raise cements EAAIF’s position as the […]
Nem Insurance shareholders approved N5.02bn total dividend for 2024
NEM Insurance Plc shareholders have approved a total dividend of N5.02 billion declared by the company for the financial year ended Dec. 31, 2024. The shareholders gave the approval at the company’s 55th Annual General Meeting (AGM) in Lagos. The dividend translated to dividend payment of N1 per every […]
Nigeria’s capital market key to $1 trn economy – Edun
The Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun, has emphasised the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy. Edun said this at the Capital Market Committee (CMC) meeting on Monday in Lagos. He […]