Headlines – First Ideas Limited


Investors Lose N11.94bn as NGXASI Dips by -0.05%, Sentiment Remains Negative

Equities market closed on a negative note, as NGXASI depreciated by -0.05% to close at 43,248.05 basis points as against  -0.09% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +7.39%.      

Market breadth closed negative as AIICO led 11 Gainers as against 23 Losers topped by UPDCREIT at the end of today’s session – an unimproved performance when compared with previous outlook.       

Market turnover closes positive as volume moved up  by +5.53% as against -30.20% downtick recorded in the previous session. ACCESS, ZENITHBANK, and FBNH were the most active to boost market turnover.  ZENITHBANK and NESTLE topped market value list.

NASCON leads the list of active stocks that recorded impressive volume spike at the end of today’s session.

MTN to give investors 1 share for every 20 bought

MTN Group will give retail investors one share for every 20 shares they buy and hold for at least 12 months up to maximum of 250 shares during a share sale this week, according to Karl Toriola, the chief executive officer of the company.

Nigeria’s best performing sectors in Q3

Nigeria’s gross domestic product (GDP) grew by 4.03 percent in real terms in the third quarter of 2021, showing sustained growth over the last four quarters since the exit from the 2020 recession.

CNG can save Nigeria N3trn, but infrastructure lacking

Switching from petrol to Compressed Natural Gas (CNG) can save Nigeria as much as N3 trillion yearly but this requires a political will to fix the teething problems facing the country’s domestic gas sector, experts have said.


African Alliance bounces back, posts N5.67 billion PBT

Foremost life insurer, African Alliance Insurance PLC, has declared a profit before tax of N5.67 billion in 2020 compared to a loss of N7.04 billion in 2019 representing over 1300 percent year-on-year increase.

Nigeria’s inflation: Pandemic or bad economic policy?

No one feels good paying more for the same. If this is a huge concern for you, you are certainly not alone. Inflation, the persistent change in prices in all sectors of the economy over a period of time is a primary concern to all, especially the poor.

Stakeholders at NGX conference see huge prospects for market growth

In the midst of global uncertainty, a new era of capital market growth is evolving in Nigeria, driven by innovation. This was the submission of critical stakeholders at the inaugural NGX Capital Markets Conference held in Abuja

Omicron: Guterres raises concern over isolation of Southern African countries

António Guterres, the United Nations (UN) secretary-general has expressed concern over the restrictions imposed on travellers from Southern African countries due to the emergence of the new COVID-19 variant, Omicron.

Nigeria’s GDP: Fragile Outlook Undermines Steady Economic Recovery

 The Nigerian economy has continued to recover steadily from the historic downturn printed in 2020, attributable to increased vaccine rollout bolstering consumer confidence and stimulating economic activities. According to the report recently published by the National Bureau of Statistics, the country’s GDP grew at 4.07% (YoY) in the third quarter of 2021 (Q3’21), up from 5.36% in the previous quarter and -3.14% in Q3’20.

CBN to Sustain Interventions in the Nigerian Economy in 2022 – Godwin Emefiele

As Nigeria’s economy returns to the pre-covid 19 growth level, the Central Bank of Nigeria will sustain its intervention policy in critical sectors in 2022. The Governor of the CBN, Mr. Godwin Emefiele, disclosed this at the 56th Annual Bankers Dinner powered by the Chartered Institute of Bankers, Nigeria, which took a hybrid format at the Federal Palace Hotel Lagos.  

Dip in Crude Oil Price; Perpetuating the Concerns of a Frail Economy

 The Brent futures traded at US$72.81 per barrel on 26 November 2021. According to Reuters, the dip in price of BRENT was driven by concerns around a surplus in Q1 2022 following the uptick in the number of countries that are instituting lockdown measures on the back of the new COVID-19 omicron variant.  

Olam, Experts Chart Growth Path for Local Wheat Value Chain

Olam, a leading agribusiness conglomerate and parent company of Crown Flour Mill Limited (CFM), has assembled local and international development actors in the wheat value chain in a bid to stimulate higher wheat production in Nigeria.  

CBN Automates Forms A and NCX on the Trade Monitoring System

This Is to inform all Authorized Dealers and the General Public of the deployment of e-Form ‘A’, Accordingly, the e-Form ‘A’ shall replace the hard copy of Form ‘A’ for invincible transactions (PTA/BTA, medicals, education, other remittances etc., with effect from November 30, 2021. 

FG’s Capital Market Debt Servicing Gulps N2.18tn in 10 months – Reports

Servicing of debts acquired through instruments issued by the Federal Government in the Nigeria capital market totaled N2.18tn as of October 30, an analysis of data by Punch correspondent has shown. 

NAFEX Rate Depreciated by -0.03% WoW to N413.59

In the FX Spot and Derivatives markets, the total turnover for the week-ended November 19, 2021, was $1,094.65 million, representing an increase of 60.23% ($411.48 million) from $683.17 million reported for the week-ended November 19, 2021.  

Bullish Sentiment Sustained as Average Yield Shed 25bps WoW to Close at 4.85%

Last week, the Nigerian Treasury Bills (“NT-Bills”) secondary market started off on a quiet note as market participants prepared for the Primary Market Auction (“PMA”) which was held on Wednesday (24-Nov-21).  

Best Zero Spread Forex Brokers 2022

Trading is one of the extensive and exciting businesses accompanying a vast profit margin and tremendous successful opportunities. Even the beginners could make great money from the start if they know the most important things and factors that can affect their trading to what extent.

Dangote Refinery to Become Highest Employer of Chemical Engineers in Nigeria

 The National President of Nigeria Society of Chemical Engineers (NSCh) has revealed that Dangote Oil Refining Company will be the highest employer of chemical engineers in the country when the refinery comes on stream.  

NERC Renews NBET’s Licence for Additional Three Years

 The Nigerian Electricity Regulatory Commission (NERC) has renewed for three years the trading licence of the Nigerian Bulk Electricity Trading (NBET) Plc following a review of the latter’s application and corporate business plan.  

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First Ideas Limited is an investment and financial advisory company established in 1994 to provide advisory services to high net worth individuals, trust funds, financial institutions and medium sized companies in growth sectors.

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