The chances of Afreximbank getting involved in a debt restructuring have increased, JPMorgan said on Tuesday, while also upgrading its recommendation on the lender’s bonds to overweight, citing valuations in the wake of the Fitch downgrade. According to Reuters, the African trade and development lender has been at […]
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Fitch downgrades Afreximbank To One Notch Above ‘Junk’
Fitch downgraded Afreximbank’s credit rating to one notch above junk on Wednesday, with a negative outlook, citing high credit risks and weak risk-management policies. According to Reuters, the one-notch downgrade to BBB- comes as the African lender battles to protect its loans from restructuring in Ghana, Zambia […]
Airtel Sets ₦1,589/$ for Final Dividend Conversion
Airtel Africa Plc has announced the currency arrangements for its final dividend payment for the financial year. The Board has recommended a final dividend of 3.9 cents per ordinary share, payable on 25 July 2025, to shareholders whose names appear on the register as at the close of business […]
SEC Sounds Alarm on Ponzi Schemes, Calls for Vigilance to Safeguard Investors, Economy
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 […]
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 […]
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 […]
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 […]
SEC Approved ₦3.68trn in New Issues in 2024 – Agama ……….Says ₦446.38bn Approved in Q1 2025 as Market Activity Sustains Momentum
The Securities and Exchange Commission (SEC) approved a total of ₦3.68trn in new issues in 2024, signaling robust investor confidence and strong momentum in Nigeria’s capital market, according to the Director General of the SEC, Dr. Emomotimi Agama. Speaking at the 1st Capital Market Committee (CMC) Meeting of […]