Tag: Nigerian Stock Exchange
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Nigerian Banks, Companies fined N125m for failing to file audit reports
At least eight banks and 18 other listed companies in Nigeria have been collectively fined N125 million for their failure to submit their 2022 audited financial statements and quarterly reports for the first half of 2023, as mandated by the Nigerian Exchange (NGX). Among the banks that faced sanctions were Unity Bank, FBN Holdings, Access…
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ECOWAS Don values NNPC at N50trn, wants listing on stock exchange
Chief Economic Strategist to the Economic Community of West African States (ECOWAS), Prof Ken Ife, has valued the assets of the Nigerian National Petroleum Corporation (NNPC) at N50 trillion. The Professor of Economics stressed that the oil company can be listed on the Nigerian Exchange Limited.
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DMO to auction 3 new FGN bonds valued at N225bn in April
The Debt Management Office (DMO) has offered three new Federal Government of Nigeria (FGN) bonds valued at N225 billion for subscription through auction in April. They are an N75 billion FGN bond at a 13.5 per cent interest rate, due in March 2025 (10-year re-opening) and an N75 billion FGN bond, due in April 2032…
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MTN Nigeria to go ahead with IPO this year
Subject to market conditions, South Africa’s telecoms firm, MTN Group will go ahead with its Initial Public Offering (IPO) listing its Nigerian subsidiary, MTN Nigeria in the Nigerian Stock Exchange (NSE) this year. Bloomberg had previously reported the Executive Chairman of MTN Group, Phuthuma Nhleko, as saying the company may delay the planned listing until…