Author: Julius Alagbe

Oando to Raise N500bn, Convert $300m Debt to Equity Indigenous energy company Oando Plc has revealed plans to raise N500 billion in fresh capital via public offers as part of an effort to expand its operations and convert $300 million in debt to equity amidst an expansion drive. At the annual meeting scheduled for August 11, the energy company will be seeking shareholders authorisation to raise the amount or its foreign currency equivalent in the Nigerian and/or international capital markets. Details obtained from its regulatory filing revealed that Oando will also be seeking shareholders’ approval to issue up to 10…

Equity Investors Gain N152bn as BUA Cement, Presco Rally Equity investors’ portfolio value increased by N152 billion following positive price movement in BUA Cement and PRESCO, supported by gains posted by some lightweight stocks amidst mixed expectations on interest rate adjustment. The local bourse gained more weight amidst the monetary policy committee of the Central Bank of Nigeria (CBN) committee meeting, which started in Abuja today. Intraday trading data showed sentiment had waned during early trading hours, but strong buying interest in some blue-chip stocks, PRESCO (5.1%) , BUACEMENT (5.2%) , and others, helped overturn the bearish sentiment and steered…

CSCS Inaugurates Custodian Portal to Enhance Digital Access Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure, and efficient features. Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday. The CSCS is a Public Limited Company with a diversified shareholder base, which serve as the Central Securities Depository for the Nigerian Capital Market. It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN…

CBN to Float N290 Billion Treasury Bills for Subscription The Central Bank of Nigeria (CBN) is scheduled to float N290 billion worth of Nigerian Treasury bills for investors subscription at the primary market auction (PMA) on Wednesday. This revealed that the offer size is below N326.88 billion in Treasury bills that will mature across standard maturities in the week. The outcome of the monetary policy committee meeting is expected to reflect on spot rates pricing at the main auction to be held by the Debt Management Office (DMO) on behalf of the CBN.  “In our view, the fixed income market…

BUA Cement Soars by 31% Amidst Anticipated Earnings Release A top member of Nigeria’s cement oligarchy, BUA Cement Plc, soared by more than 31% over four days of positive price movements in the equity market as earnings release expectations boosted investors’ sentiment. With an expectation of an interim dividend, buying activities on the cement company shares heated up. Stockholders bolstered their positions via open trading, betting on the company’s future earnings streams and solid cash flow positions sufficient enough to cover interim dividends. The Nigerian bourse’s trading data revealed that the cement company’s share price reached N123.4 after more than…

MPC: Analysts Differ on Monetary Easing, Rule Out Interest Rate Hike A slew of Broadstreet analysts have expressed different views and expectations about Nigeria’s monetary policy direction following persistent disinflation and improved macro indicators. The market anticipates a rate cut as the monetary authority is set to meet this week, but others think monetary easing could be delayed till the latter part of the year. Struggling about the timing and readiness of the Central Bank of Nigeria (CBN) monetary policy committee (MPC) to cut rates, there was no consensus among sample investment banking firms notes on monetary easing. Nigeria has…

Zenith Bank Named Nigeria’s Best Bank at Euromoney Award for Excellence Zenith Bank Plc has been named “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025, emerging as Nigeria’s standout performer and clinching the biggest and most coveted country award. The award, which was presented to the bank on July 17, 2025, at The Peninsula, London, is a testament to its commitment to delivering exceptional banking services, innovative products, and superior value to its customers and shareholders. Euromoney’s Awards for Excellence are one of the most highly coveted awards that matter to banks and bankers who matter. The annual…

Nigerian Exchange 27.84% Return Antidote for Inflation The Nigerian Exchange (NGX) has delivered inflation-protected returns for investors trading highs and lows in the Lagos bourse, reflecting untamed positive sentiment on listed stocks. Based on market data, the Nigerian bourse delivered a 27.84% year-to-date return on Friday close following a sharp rally across sectoral indexes. Trading activities have been relatively positive as fear of missing out from the ongoing bank continues to attract positions taking in companies with rock-solid fundamentals. Transactions have been fueled by local and foreign portfolio investors, reflecting growing market confidence, supported by Nigerian reforms and economic outlook.…

Dangote Cement Gains N1.18trn as Share Price Soars by 16.5% Dangote Cement Plc’s market value increased by N1.181 trillion in the equity market as the company’s share price soared by 16.5% in an all-week rally. The cement industry leader attracted investors attention throughout holiday-shortened trading sessions that lasted for four days last week. Reflecting improved macro indicators and expectations of further economic growth, investors are anticipating earnings growth for the second quarter of the year. Dangote Cement Plc is expected to release first half earnings results in the coming days. Data from the Nigerian Exchange revealed that Dangote Cement Plc’s…

Fitch Affirms Kaduna State Rating at ‘B’, Outlook Stable Fitch Ratings has affirmed Kaduna government’s ability to honour the state’s financial obligations on a timely basis at ‘B’ with stable outlooks. The ‘B’ rating indicates that material default risk is present, but a limited margin of safety remains. In the rating note, Fitch said its affirmation reflects the unchanged ‘b’ standalone credit profile (SCP), resulting from Kaduna’s ‘Vulnerable’ Risk Profile and a financial profile assessed in the ‘bbb’ category. The ratings also factor in the state’s growing debt to fund necessary capital expenditure for the development of basic infrastructure and…