Invest Data Consulting Ltd

Latest data by the Central Bank of Nigeria (CBN) shows a further but marginal squeeze in the currency-in-circulation across the country during the month of July. The figure which stood at N2.003tr during the month, dropped by about N11bn from N2.014tr reported for the period ended June 28, 2019, representing a further N108.758bn or 5.15% decline from N2.111tr in the month of May. Year-to-Date, the figure has however dropped by N326.616bn or 14.02%, from N2.329tr as of December 31, 2018, its peak in the past eight months according to data available on the CBN website. Currency-in-Circulation in July, however, represented a year-on-year increase by N178.264bn or 9.77% from N1.824tr reported at the end of July 2018. https://investdata.com.ng/2019/08/nigerias-currency-in-circulation-drops-to-n2-003tr-in-july/#more

The Securities and Exchange Commission (SEC), on Wednesday confirmed that it indeed received and approved an application to register shares of telecoms giant- MTN Nigeria last week. A statement by the commission quoted Acting Director General of the SEC, Ms. Mary Uduk as saying that “MTN sought to come to the market by way of an introduction and they wrote to the SEC last week requesting for approval to register its existing shares. That approval has now been granted”. MTN had on Tuesday announced the registration of 20.4bn ordinary shares by the SEC. The move by MTN, according to the SEC, “is a further indication of the determination… to work with companies that are interested in the capital market. “We believe that this will also encourage other service providers to come to the market,” the commission added. https://investdata.com.ng/2019/05/mtn-to-list-shares-by-introduction-says-sec/

Market Update for May 8 Equity prices on the Nigerian Stock Exchange (NSE) closed down again at midweek as selloffs continued, because market operators have since activated their cautious mode amidst the prevailing uncertainties, in the absence of any news in the offing capable of inspiring hope that the administration has plans to reinvigorate the economy and rather allow the ship to twist and turn. Until then, there is the rising confidence crisis and low market liquidity arising from the fact that smart investors have earlier exited, triggering a flight to safety, seeking solace in the money and fixed income market that continues to experience a boom. On the political front, the Presidential Election Tribunal began sitting also on Wednesday, and has fixed next week for hearing on the suit by the main opposition Peoples Democratic Party (PDP) and its candidate, challenging the outcome of the February 23 Presidential election which returned President Muhammadu Buhari for a secon...

MTN Nigeria Communications Plc (MTN) says it has successfully completed the registration of 20,354,513,050 ordinary shares of N0.02 each with the Securities and Exchange Commission (SEC). Ferdie Moolman (pictured), MTN’s chief executive officer, made this known in a statement released in Lagos on Tuesday. Moolman said the completion of this process sets in motion the next steps in MTN’s intended listing by introduction on the Nigerian Stock Exchange (NSE). “I am excited we have achieved another milestone in our listing process and want to thank the SEC and the Corporate Affairs Commission (CAC) for supporting us through the process. “We have now begun to engage with the Nigerian Stock Exchange (NSE) to complete the listing process,’’ he said. Moolman said that MTN was guided by a vision to lead the delivery of a bold new digital world, saying that MTN Nigeria’s leadership position in coverage, capacity and innovation had remained constant, since its launch in 2001. The ...

Market Update for the week ended April 18 and Outlook for April 23-26 The Nigerian Stock Exchange (NSE) in the past week had a positive outing, halting five consecutive weeks of decline on the back of seemingly positive economic data released by the National Bureau of Statistics (NBS) and inflow of mixed Q1 earnings reports to the market in the period under review. The reports from the financial services and consumer goods sectors so far are weak, just in line with Investdata’s expectations, but given the prolonged decline in equity prices, the scorecards could be catalysts if the ongoing buying interest is sustained next week as more Q1 numbers hit the market. Meanwhile, the Central Bank of Nigeria (CBN) is easing gradually, while inflation rate is lowering, as revealed through the Consumer Price Index (CPI), a measure of the average change in the general price level of all items, which declined Year-on-Year in the month of February, from 11.31% to 11.25%. This represents the t...

•As Shareholders Approve N87.91bn Dividend Shareholders of Zenith Bank Plc, at the annual general meeting on Monday in Lagos unanimously approved a proposal by the directors for the distribution of N2.50 final dividend, representing a payout of N78.491bn. The board had at the end of half year paid 30 kobo interim dividend, bringing total payout for the year N2.80 or N87.91bn, from profit after tax of N193.424bn, for the year ended December 31, 2018, compared to N173.791bn in the prior full-year. Responding to questions from shareholders at the meeting, Peter Amangbo, its group chief executive, assured that the management of Zenith Bank will strive to continue driving down its cost of funds. This, he believes, will ultimately impact top and bottom-lines, as well as ensure juicier dividend payment for shareholders and better returns to investors through an anticipated growth in share price on the Nigerian Stock Exchange (NSE). He acknowledged the happiness expressed by Nornah A...

Market Update for March 18 Monday’s trading on the Nigerian Stock Exchange (NSE) remained volatile and negative to start the week with slight decline, extending three consecutive days of losses on a low traded volume and mixed sentiments. The continued downtrend in the midst of good company fundamentals and low valuation can be linked to liquidity problem in the equity segment of the capital market, even as legal battle is set to begin following the outcome of the February 23 Presidential election by the main opposition Peoples Democratic Party (PDP). Despite the seeming inflow as revealed through the investors and exporters window, foreign investor’s interest has remained tilted towards high interest yield fixed income instruments, including sovereign bonds. We believe this sustained interest can be linked to several factors, particularly the fact that global monetary authorities have signaled policy direction towards a dovish stance in 2019. This has seen yields in developed m...