Friday, May 14

Tag: FBN Holdings

Oba Otudeko Rebuffed My Pleas On First Bank Crisis – Emefiele
Business

Oba Otudeko Rebuffed My Pleas On First Bank Crisis – Emefiele

The Governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele has revealed how boardroom guru and major shareholder with the First Bank Nigeria Limited, Dr. Obafoluke Otudeko spurned his calls and pleas not to interfere with the running of the bank by engineering the removal of its managing director/Chief Executive Officer, Dr. Adesola Adeduntan. According to the CBN Governor, Otudeko, a major shareholder controlling about 10 percent of First Bank, rebuffed his calls and also refused to pick the calls of 2 other major shareholders of the Bank, sought to intervene. “I spoke to Mr. Oba Otudeko, he refused to grant my request. I had to call two of his fellow major shareholders to call him to ask the board not to take such decisions without the approval of the CBN. He refused to pi...
Positive Investors’ Sentiment Lifts Stock Market By 0.28%
News

Positive Investors’ Sentiment Lifts Stock Market By 0.28%

Positive investors’ sentiment on the stock market on Tuesday lifted the Nigerian Stock Exchange, NSE All Share Index higher, ASI by 0.28 percent to close at 34,933.68 points, compared, with the depreciation of 0.03 percent recorded on Monday. The appreciation recorded in the share prices of companies such as FBN Holdings, Dangote Cement, GTBank, Dangote Cement, and Zenith Bank were mainly responsible for the gain recorded in the Index. Similarly, the market capitalisation appreciated by 0.28 percent to close at N12.75trillion, compared with the depreciation of 0.03 percent recorded on Monday which closed at N12.718 trillion. The Exchange recorded 23 gainers against 18 losers, with shares of GTBank , Oando Plc lifting up the NSE Banking and NSE Oil/Gas Indices by 1.41 percent a...
NSE: Market Capitalisation Up N88bn
News

NSE: Market Capitalisation Up N88bn

Activities on the Nigerian Stock Exchange (NSE) on Friday sustained the positive slide with the market capitalisation appreciating further by N88 billion, amid gains by blue chips. The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N13.763 trillion rose by N88 billion or 0.64 per cent to close at N13.851 trillion. Also, the All-Share Index inched 247.14 points or 0.64 per cent to close at 38,923.26 compared with 38,676.12 achieved on Thursday. NAN reports that major blue chips posted price appreciation with Nigerian Breweries leading the gainers’ table with a gain N2.10 to close at N138.10 per share. Unilever followed with a gain of N1.99 to close at N41.85, while Forte Oil N1.90 to close at N46 per share. Guinness appreciated by N1.60 to...
Nigeria Stock Exchange 2017: How Companies’ Values Fell, Rose
News

Nigeria Stock Exchange 2017: How Companies’ Values Fell, Rose

For the second year running, Forte Oil maintained its leadership as the worst performing stock on the Nigerian Stock Exchange, NSE, in 2017 in percentage terms. Statistics obtained by the News Agency of Nigeria from the exchange indicated that the stock, which opened trading in 2017 at N84.43, dropped by 48.50 per cent to close the year at N43.48 per share. NAN reports that Forte Oil in 2016 also emerged the worst performing stock in 2016 in percentage terms having dropped by 74.42 per cent. The stock, which opened trading in 2016 at N330, depreciated by 74.42 per cent to close trading at N84.43 per share. University Press followed with a loss of 46.23 per cent to close at N2.28 compared with N4.24 it opened for the year. MRS Oil shed 36.49 per cent to close at 27.46 against...
NSE All-Share Index Crosses 39,000 Mark
News

NSE All-Share Index Crosses 39,000 Mark

Nigerian Stock Exchange (NSE) All-Share Index on Wednesday crossed 39,000 mark just after the 38,000 mark on Tuesday. The News Agency of Nigeria (NAN) reports that the index rose by 580.88 points or 1.51 per cent to close at 39,075.30 against 38,494.42 achieved on Tuesday. Mallam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., told NAN that the growth, in spite of the forthcoming Yuletide celebration, was due to renewed confidence of foreign investors in the market. Kurfi said that foreign investors were seriously taking position in the nation’s stock market to meet up with their portfolio requirements. He said that they were increasing their stake in stocks with strong fundamentals, noting that most equities on the exchange were trading below their fair valu...
Trading Resumes On Positive Trend, Index Increases 0.27 Per Cent
News

Trading Resumes On Positive Trend, Index Increases 0.27 Per Cent

Trading activities resumed for the week on Monday still on a positive mood with the All-Share Index improving by 0.27 per cent. The index rose by 100. 28 points or 0.27 per cent to close at 37,525.38 against 37,425.15 achieved on Friday. Also, the market capitalisation inched N34 billion or 0.26 per cent to close at N12.933 trillion compared with N12.899 trillion posted on Friday. An analysis of the price movement chart indicated Nestle led the gainers, increasing by N33.58 to close at N1,060 per share. Nigerian Breweries followed with a gain of N5.35 to close at N181 and Mobil Oil garnered N4.90 to close at N236.90 per share. 7UP appreciated by N2.70 to close at N74.70, while Lafarge Africa increased by N1 to close at N60 per share. Conversely, Okomu Oil recorded the hig...

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