Get all the latest information on businesses and companies in Nigerian Stock Exchange.
The chart below compares the January 2009 valuation of the major banks stock to January 2008’s. It is clear that the bank stocks have performed very badly:
Here are the company results released this week:
Although this document is somewhat old and outdated, I think it will help in giving a good picture of which banks are in relatively good shape based on the report from PWC posted earlier:
The Nigerian Tribune had an article in Feb 25th’s paper stating that contrary to recent assertions by the CBN, some of the banks might not be in a good shape. The article was based on a report by Price WaterHouse Coopers. I have been unsuccessful in getting a copy of the report.
I have highlighted the major points of this paper and find it very instructive. The fact that neither the Ministry of Finance nor the CBN released statements to contradict this report lends credence to it.
On reading this article, there seems to be little communication between the Finance Ministry and the CBN.
Here is article:
I got an email last week with details of Imo State’s bond subscription which will be available soon. Here are some of the details. You can also read the email and document below:
In the past 2 weeks, the Central Bank of Nigeria has released some very useful documents. They include 2 presentations by Prof Soludo, the CBN Chief on The Effects of The Financial Crisis on Nigeria and The Challenges of Implementing Appropriate Exchange, Inflation and Interest Rates In Nigeria.
Additional documents include the Q3 2008 Economic Report, the Q4 2008 Economic Report, the Guidelines for FOREX Operatives, the Geographic Distribution of SMEEIS in Jan 2009, and the Press Briefing on the Latest FOREX Reforms.
These documents are extremely useful as they will provide better understanding of the CBN’s actions.
Here are the stockbroker’s reports from Zenith Securities, Meristem, FSDH, and Forte Assets:
Courtesy of Meristem Securities, here is the stock market report for the week ended Fbruary 20th 2009:
Below is a column Reuben Abati wrote in the Nigerian Guardian about his recent discussions with Nuhu Ribadu (the former EFCC Chairman who was shamefully ousted) while in Rwanda recently. I decided to post the whole article so as not the dilute the content:
Here is FSDH Securities’ analysis of UACN’s Q3 results.
The stock is rated as a BUY at the current market price.
In: weekly report20 Feb 2009
These are the weekly reports from Meristem Securities and Afrinvest for the last week. Since we are at the end of another week, these 2 documents will count as being outdated. Apologies for the late post.
Here are the recently results for Fidelity Bank, IPWA, Cadbury, and BankPHB.
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!