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Zenith Bank Shares Represent Secure Investment Opportunity –Futureview Zenith Bank Plc represents a secure investment opportunity in the Nigerian stock market, Futureview Financial Services Limited told MarketForces Africa while reacting to the impacts of the Central Bank of Nigeria ban on FX gains usage by local lenders. Analysts said the bank’s first half of 2023 […]

FX Loss: Analysts Differ on MTN Nigeria Earnings Outlook Telecommunication giant, MTN Nigeria Plc (Ticker: MTNN) has continued to gravitate near N6 trillion in market capitalisation, racing towards reclaiming the trophy as the number one stock in the local exchange. Due to FX loss, the telecom leader delivered a no-too-good earnings scorecard befitting its market […]

Analysts Upbeat on UBA Over Half Year Earnings Carnival The United Bank for Africa (UBA) Plc announced its half year 2023 earnings carnival which saw key performance indicators edging higher amidst deepening footprints in its pan-African markets. The bank also grew its retail lending, leveraging its rock solid balance sheet quality. With a flurry of […]

Asset Quality: Jaiz Bank Sets N1bn for Q4 Impairment Charge Amidst rising pressures on asset quality, Nigeria’s premier non-interest lender, Jaiz Bank Plc has estimated N1 billion as an impairment charge on credit assets for the fourth quarter of 2023. This is according to a regulatory filing signed by its acting managing director and chief […]

Valuation: BUA Foods Rocks on Tiny Free Float BUA Group’s key subsidiaries –Foods and Cement- listed on the Nigerian Exchange (NGX) now have a combined market valuation of N6.6 trillion. Surprisingly, the food company has raced ahead of the cement producer, perhaps due to tight control of shareholdings. Detail from the Nigerian Exchange showed that […]

Rates Spike as PFAs, Banks Reduce Appetite in FGN Bonds At the Debt Management Office (DMO) primary market auction for Federal Government of Nigeria (FGN) bonds, pension fund administrators (PFAs), local deposit money banks and other authorised market participants exhibit weak investing sentiments across tenors. At the auction, demand came lower, hitting Oct 2022 low […]

Naira Slumps Amidst Large Decline in FX Trading Activity Exchange rate: The Naira slumped against the dominant foreign currencies despite the fact that the United States (US) dollar volume traded fell by about 47% over the five trading day’s sessions in the organised foreign exchange market. The Nigerian naira continued to face pressures emanating from […]

Equities Analysts See 53% Upside in Zenith Bank Equities analysts at Apex Asset Limited have placed Zenith Bank shares on its buying bucket after a strong earnings beat in the first half of 2023, estimating that investment in lender could give as high as 53% above its market price. On the heel of a better […]

Ondo state commissioner for women affairs and social development, Adebunmi Osadahun, has been attacked over distribution of federal government palliative in Akoko Northwest local government area of the state. Osadahun was reportedly attacked by a chieftain of the All Progressives Congress (APC), Olumide Awolumate, for removing his name from the beneficiaries of the palliative in […]

*Says Salaries of Political Officeholders in Nigeria Are Not Jumbo The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) says political officeholders do not earn outrageous salaries. Muhammed Shehu, chairman of the commission, made this known to NAN in Abuja on Sunday. Shehu had earlier said the salaries of politicians, judicial and public office holders would […]

*Says CBN Mopped Up N3.5 Trillion But Only Disbursed N402 Billion in New Notes The Central Bank of Nigeria (CBN) is facing backlash after confirming it has only disbursed N402 billion of the new redesigned naira notes, despite mopping up N3.5 trillion from circulation. According to human rights lawyer Femi Falana SAN, the CBN had […]

*Electricity Returns After Three Months Blackout Reprieve may have come for protesting students of the University of Jos as its Vice Chancellor, Prof. Tanko Ishaya, on Saturday, announced that the institution has crashed its fees. According to him, the decision to reduce the fees followed a series of negotiations between UNIJOS authorities, students and other […]