Author: Julius Alagbe

Zenith Bank Now Value at N3trn in Nigerian Bourse Zenith Bank Plc’s potential caught the eye of investors, causing its market worth to reach approximately N3 trillion in the stock market. The bank’s shares briefly reached a yearly peak of N72 on the Nigerian Exchange but ended the trading day at N71.50 after a slight dip. The money-making banking stock has delivered on shareholders expectations ahead of the second quarter earnings release, while investors are yearning for its interim dividend, which has become annual ritual. A growing number of equity analysts have upgraded their estimates and target price after as…

FIRS to Combat Illicit Financial Flows, Boost Revenue The Federal Inland Revenue Service (FIRS) has expressed commitment to combating Illicit Financial Flows (IFFs) and strengthening the country’s domestic resource mobilisation. The Executive Chairman of FIRS, Dr Zacch Adedeji, expressed the commitment in a statement by Dare Adekanmbi, his Special Adviser in Media. According to Adedeji, before now, the FIRS had set in motion machinery to tackle IFFs by approving capacity building programmes for staff members of the agency. He said that the programmes were on how to identify and block IFFs and how to increase revenue collection from the multinational…

Africans Will Develop Africa, Dangote Tells Global CEOs President/Chief Executive of Dangote Industries Limited, Aliko Dangote, has urged African entrepreneurs, business leaders, and wealthy individuals to invest in the development of the continent. Speaking while hosting participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School, Nairobi, after a tour of the Dangote Petroleum Refinery & Petrochemicals in Ibeju-Lekki, Lagos, Dangote emphasised that with the right investments, Africa has the potential to grow and compete globally. He asserted that what the continent needs are bold and transformative projects capable of addressing its long-standing challenges. Citing…

Lafarge Africa Hits 52-Week High, Analysts Adjust Target Price Lafarge Africa Plc has 48% upside at the current market price of N106 per share in the equities market. In its stock recommendation, Cowry Asset Limited sets N156.90 as the new target price for Lafarge after it broke out of the previous estimate. The cement company’s share price surged by 14.59% week on week, from the opening price of N92.50, according to data from the Nigerian Exchange. Investors are showing confidence as they anticipate Lafarge Africa will maintain earnings growth and boost market share amidst heightened competition in the cement industry.…

Nigerian Treasury Bills Returns Head South Ahead of Inflation The average yield on Nigerian Treasury bills (NTB) declined further across standard tenors in the secondary market ahead of inflation data scheduled for release this week. The headline inflation rate is projected to ease after the consumer price index was rebased in the second quarter, while the market anticipates potential rate cuts to begin in the second half of 2025. As the authority tightens its fists on Treasury bills and local bond supply, demand is expected to filter into the secondary market, and yields are projected to plunge until it fuels…

Nigerian Bonds Yields Roll Down as Investors Lock Positions Nigerian bond yields rolled down across the curve due to sustained hunting for the naira assets amidst supply shortage expectations and spot rates repricing in the recent past auction. Investors have gotten a whiff about policy rate probability, and the fact that the Debt Management Office (DMO) borrowing has lessened compared to a similar period in 2024 has sent jitters across the fixed income market. The average yield on federal government of Nigeria bonds tracked lower in the secondary market ahead of inflation data release in the new week. The consumer…

Money Market Rates Spike as CBN Actions Squeeze Liquidity Central Bank of Nigeria (CBN) activities plunged the financial system’s liquidity into deficit, reflecting outflow for cash reserves, open market operations, and foreign exchange market intervention debits. The authority mopped up funds to a level that drained the money market funding flows and pushed rates higher, causing banks funding pressure to exacerbate. Hence, money market rates spiked above the 30% level as a result of a series of actions taken by the Apex Bank to manage liquidity levels in the financial system.  The banking system’s net liquidity fell by N393.69 billion,…

UBA Rewards Customers, Celebrates 10yrs Digital Partnership with VERiCASH Africa’s global bank, United Bank for Africa (UBA) Plc, is celebrating a decade of impactful digital transformation through its strategic partnership with leading fintech firm VERiCASH. The collaboration, which birthed the award-winning UBA Mobile App, has revolutionised digital banking across the continent, delivering seamless, secure, and user-friendly experiences to millions of customers. To commemorate this significant milestone, UBA is launching a special promo for its mobile app users as a way of appreciating their loyalty and sustained engagement. The promo is designed to reward customers for their continued trust in UBA’s…

Abia Govt, Firm Sign Agreement to Establish 20 Smart Schools The Abia Government has signed a Memorandum of Agreement (MoA) with Blue Giraffe Development Ltd. to establish 20 smart schools in the state. In a speech at the brief event in Umuahia on Saturday, the Commissioner for Basic and Secondary Education, Mr Goodluck Ubochi, described it as “a significant moment”. The smart school project, which promotes digital learning, features interactive learning systems, computerised boards, high-speed internet access and solar-powered electricity. The commissioner said that the MoA would create the enabling environment for the consultant to commence in full swing. He…

Nigeria’s Top 10 Insurance Companies Worth Climbs to N571bn The market value of Nigerian insurance companies in the stock market climbed by approximately N78 billion to N571 billion at the close of the trading session on Friday. The combined worth of these insurance companies reflects weak industry capitalisation and shallow depth in Africa’s largest, most populous economy. Market data revealed eight listed insurance stocks experienced price appreciations. Data from the Nigerian Exchange showed that the insurance index, which gained 3.75%, supported the momentum in the local bourse. Investors’ attentions were shifted toward some of the insurance players with potential for…