Headlines news for the day – First Ideas Limited

Headlines news for the day

Investors Gain N709.73bn as NGXASI Advances Further by 2.90%; Overnight Rate Closes Flat at 17.25%; BDC Depreciates to 777


1.1 NGX – Listed Equities

Nigerian Equities Market closed positive as the key market indicator advanced by 1,303.04bps amid positive market breadth


The NGX All-Share Index advanced by 2.90% to close at 46,232.37 basis points as against 0.60% gain recorded previously to close at 44,662.96 basis points at the end of the last trading session. In Naira terms, the NGX Market CAP records N709.73bn gain.


YTD, the NGXASI Stands at +8.23%


The total volume traded advanced by 48.47% to close at 187.91m, valued at N1.84bn and traded in 3,458 deals. TRANSCORP was the most traded stock by volume with 26.53m units traded while ZENITHBANK was also the most traded stock by value which is put at N250.05m


Sectoral performance was broadly positive as fifteen (15) NGX sector index closed northward, zero (0) closed southward and three (3) closed flat. The NGX-IND index advanced by 9.25% to top the gainer’s chart.


The Dangote index advanced by 9.60% to close at 136.83 basis points and the Elumelu index advanced by 2.44% to close at 112.31 basis points.


At the close of trading, the market recorded 27 gainers to 10 losers and 65 unchanged. NSLTECH topped the list of gainers while SCOA topped the list of losers.


Thus, market breadth closed positive as the Market Breadth Index (MBI) is put at 0.26x.


Volume and Value Contribution

TRANSCORP led the volume’s chart with 14.12% contribution and closely followed by ACCESSCORP and ETI


ZENITHBANK tops the value’s chart with 13.57% contribution and followed by GTCO and BUACEMENT


NGX Earnings Summary

No Financial statement was released on the NGX Exchange today.


NGX Corporate News

No Corporate News was released on the NGX Exchange today


1.2 NASD OTC Exchange – Unlisted Equities

The NASD market index advanced by 0.01% to close at 711.91 basis points as against the flat position recorded previously to close at 711.91 basis points

The total volume traded advanced by 3034.95% to close at 1,004,750 units valued at N1.7m and traded in 5 deal(s).


At the close of trading, NASD OTC market recorded one (1) gainer(s) to zero (0) loser(s)


NASD Earnings Summary

No Financial statement was released on the NASD OTC Exchange today.


NASD Corporate News

No Corporate News was released on the NASD OTC Exchange today.


1.3 Global Indices

On the global scene, the Nigeria All Share Index leads the top five gainers with 2.90% gain while the East Isreal TA-100 Index tops the top five losers with 1.55% loss as of 4pm Nigerian Time


1.4 African Indices

Similarly, on the African scene, the Nigeria All Share Index tops the top five gainers with 2.90% gain while the South Africa Industrial 25 Index tops the top five losers with 0.97 % loss as of 4pm Nigerian Time





2.1 Debt Market Size

The FMDQ Debt Market Size advanced by 0.03% to close at N29.92trn.


2.2 Overnight and Open Repo (OPR)

The Overnight lending rate closed flat at 17.25% while the Open Repo (OPR) rate closed flat at 17.13%





3.1 AFEX Indices

The AFEX ACI closed flat at 455.71 while the AFEX AEI closed flat at 204.19 basis points


3.2 AFEX Commodity Prices

Paddy Rice grew by 11.36% to top the gainers chart while Cocoa declined by 0.31% to top the loser’s chart.


3.3 Global Commodity Prices

Gold recorded 0.18% loss while Silver advanced by 0.76% as of 10: 54 NY time


In the energy market, Brent declined by 3.53% while WTI also declined by 4.51% as of 10: 55 AM Central Daylight Time (CDT)




The naira at the I&E FX Window depreciated by 0.11% to close at N446/USD while the NAFEX rate depreciated by 0.02% to close at N444.50/USD


CBN MPC Raises MPR to 16.50% at the End of November 2022 MPC Meeting

– The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has today concluded its two-day meeting for November 2022. Source Proshare Research Read More

COP27: We are Driving the Delivery of Nigeria’s Net-Zero Promise – Oando Plc

 With the successful conclusion of the 27th United Nations Climate Change Conference of the Parties (COP27) themed ‘delivering for the people and the planet’, one message revibrates across the globe – climate pledges must be matched with action. Source Oando Plc Read More

Buhari Kick-starts Oil Drilling in North as $3bn Kolmani River Oil Wells Takes Off

 Prominent Nigerians, including President Muhammadu Buhari, a retinue of governors from the northern region, ministers, the presidential candidate of the All Progressives Congress (APC), Bola Tinubu and oil industry operators yesterday expressed optimism over the opportunities presented by the drilling of first oil in the north. Source ThisDay Read More

UN to Vote on New Tax Convention Proposed by African States

 Developing nations are hoping to secure greater power over global tax affairs at a critical United Nations vote in New York on Wednesday. Source The Guardian Read More

KPMG has been blocked from winning new audit contracts in Abu Dhabi

 Regulators have removed Big Four firm KPMG from the list of accountants authorised to sign off companies’ financial statements.⁠ Source FT Read More

Ahead of Next T-Bills Auction Scheduled for 23rd November 2022

 The Central Bank of Nigeria (CBN) will hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on the 23rd of November 2022. At the PMA, existing T-Bills totalling NGN212.82bn (NGN2.28bn, NGN1.25bn and NGN209.29bn across the 91-day, 182-day, and 364-day instruments, respectively), will mature and be rolled over. Source Meristem Read More

Fidelity Bank Showcases the Best of Nigerian Non-Oil Exports at FITCC

– In what has been termed the largest trade exhibition by Nigerian-based businesses in the United Kingdom in recent times and a major move in increasing Nigeria’s foreign exchange earnings, leading financial institution -Fidelity Bank Plc hosted the maiden edition of its international trade expo. Source Fidelity Bank Read More

NPA Targets Full Automation of Ports Operation by 2024

– The Managing Director of, the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, has said the agency is working towards a fully-automated port system, where the vehicular and human interface will be reduced by 2024. Source Guardian Read More

Neiti Advocates PIA Implementation To Improve Oil Earnings

 The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday, in Abuja, said the successful implementation of the Petroleum Industry Act (PIA) remains sacrosanct in boosting the country’s oil earnings. Source Guardian Read More

Nigeria, Canada to Improve Bilateral Relations on Trade, Energy Transition

 Nigeria and the Canadian government are set to deepen bilateral relations on energy transition, trade, climate change and education. Source TheCable Read More

NBCC Deploys Tech as a Tool in the Fight Against Unemployment

 Given the significant opportunities, it offers in the face of the staggering unemployment rate in the country, the phrase “tech is the new oil” is on the lips of many. Driven to bridge the knowledge gap and equip young people with requisite tech skills, the Nigerian-British Chamber of Commerce graduated its first set of students – Cohort 1.1 from the NBCC Tech Academy on Tuesday, November 15, 2022. Source NBCC Read More

Africa’s Growing Crypto Market Needs Better Regulations

– The collapse of the world’s third largest crypto exchange FTX, and subsequent plunge in the prices of Bitcoin, Ethereum, and other major crypto assets, is prompting renewed calls for greater consumer protection and regulation of the crypto industry. Source IMF Read More

Microsoft Explains how Africa’s Financial Landscape is Changing due to Digital Banking

– According to Ola Williams, the Country Manager of Microsoft Nigeria, the financial sector on the African continent is accelerating its digital transformation agenda in an effort to provide customers with a unique customer experience, which is promoting economic development on the continent. Source Tech Economy Read More

36 million Nigerians Lack Access to Financial Services – CBN

 The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the eNaira, stated this on Tuesday during the Zenith Bank Tech Fair which was held in Lagos. Source Punch Read More

GlaxoSmithKline Consumer Nigeria Plc Reports N483.54m PAT in Q3’22 Unaudited Results; (SP: N6.25K)

GlaxoSmithKline Consumer Nigeria Plc released its Q3 2022 Unaudited results for the period ended September 30th, 2022.

Key Highlights

  • Revenue grew by 24.15% from N16.45bn to N20.43bn.
  • Profit before tax stood at N716.36m
  • Profit after tax stood at N483.54m
  • Share Price Currently Stands at N6.25k


Linkage Assurance Plc Declares N2.08bn PAT in Q3 2022 Result, (SP: N0.42k)

Linkage Assurance Plc released its Q3 2022 Unaudited results for the period ended September 30th, 2022.


Key Highlights

  • Gross Premium Written grew by 17.9% from N9.06bn to N10.69bn.
  • Profit before tax stood at N2.19bn
  • Profit after tax stood at N2.08bn
  • Share Price Currently Stands at N0.42k



Neimeth International Pharmaceuticals Plc Reports N109.66m Loss in Q3’22 Unaudited Results, (SP:N1.38k)

Neimeth International Pharmaceuticals Plc released its Q3 2022 Unaudited results for the period ended September 30th, 2022.


Key Highlights

  • Revenue declined by 11.3% from N3.05bn to N2.70bn.
  • Loss before tax stood at N109.66m
  • Loss after tax stood at N109.66m
  • Share Price Currently Stands at N1.38k



President Buhari Unveils Redesigned N200, N500 and N1,000 Notes

Today, President Muhammadu Buhari, GCFR, unveiled the redesigned N200, N500 and N1000 notes at the Executive Chambers of the Presidential Villa, Aso Rock, Abuja.


The ceremony was held at the weekly Federal Executive Council (FEC), which the President Chaired. In attendance was the Senate President, Dr. Ahmed Lawan, and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, CON.


The unveiling came much earlier than the planned date of December 15th, 2022. The N200 note bears the red colour, the N500 the green colour and the N1,000 the blue colour.


According to the CBN, redesigning the Naira notes will be done in a way that protects unbanked, under-served Nigerians and those in rural areas.


CBN Governor Mr. Godwin Emefiele, CON, speaking yesterday at the last monetary policy meeting for 2022, stated that there would be no extension of the January 31st,2022, date for the deposit of the current N200, N500 and N1000 notes.



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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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