MarketsTechnology

Zedcrest Acquires RMB Nigeria Stockbrokers Ltd in a Deal Valued at ₦400 Million

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July 6, 2024
Zedcrest, a Nigerian investment firm specializing in debt and equity capital markets, has acquired RMB Nigeria Stockbrokers for an estimated amount between ₦400 million and ₦420 million, as reported by a source close to the transaction. The acquisition comes as Zedcrest looks to expand its services and give its clients access to Nigeria’s equity market, which gained 45% last year (a 26%…
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Markets

Stock market jumps to 15-year high after Emefiele’s suspension

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June 13, 2023
The Nigerian stock market rose to its highest level since July 2008 on Tuesday, the first day of trading after the suspension of the Central Bank Governor, Godwin Emefiele. According to a report by Bloomberg, investors are betting on a currency devaluation and sent the main index of the Nigerian Exchange to above 57,437 points, which contrasted with a flat performance for MSCI’s main…
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Markets

The investment group for listing on NGX

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June 13, 2023
The Nigerian Capital Development Fund Group Plc has expressed interest in listing on the Nigerian Exchange Limited. This was revealed in a letter titled ‘Re: Expression of Interest to List on the Nigerian Exchange Limited’, signed by the Branch Manager, Ibadan Office of…
Markets

Naira devaluation fake news – CBN

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June 1, 2023
The Central Bank of Nigeria has debunked the claim that it has devalued the naira. A statement signed by Acting Director Corporate Communications, Isah AbdulMumin, said the dollar traded at N465/$1 contrary to reports. The statement partly reads, “We wish to state…
Markets

Why you should invest your money

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May 18, 2023
In December 2022, the Director of the Bank Examination Department, the Nigeria Deposit Insurance Corporation, Michael Oladele, revealed that N911bn had been lost to ‘get-rich-quick’ schemes in Nigeria over the last 23 years. While this figure may present the raw facts of the damage of such schemes, it is a pointer to the innate need for individuals to attempt to build wealth. However, this is…
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Markets

IMF lists reasons for Nigeria, others, low FDI

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April 16, 2023
The International Monetary Fund says the recent slowdown witnessed in Foreign Direct Investment, especially in developing countries can be linked to the divergent trade patterns among countries, with flows increasingly concentrated among geopolitically aligned countries…
Markets

Stakeholders seek for insurance, pension growth.

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April 10, 2023
Stakeholders in the financial sector have canvassed the need to grow the insurance and pension sectors. They spoke at the annual conference of BusinessToday Communication Limited in Lagos with the theme, ‘Consumer satisfaction in deepening penetration in insurance and pension sectors’. The Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, called on the…
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