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Financial inclusion FirstBank s DMD-designate leads discourse on potentials in the informal sector  |  Flour Mills of Nig Plc Q3 2016 Result - Words from Management  |  DANGCEM lifts NSE-ASI on last minute rally  |  FO Joins United Nations Global Compact Corporate Responsibility Initiative  |  Endorsing the role of the new E-Unit and adoption of new procurement pricing guidelines  |  xx  |  The Nigerian Economy Past Present and Future - NBS  |  Nigeria in 1min: Economic Business Financial Headlines  |  There is need for more sweep in e-banking  |  FCMB is Maintaining Underperform Rating on Weak Outlook  |  Currency woes and capital flows in emerging markets - View on Devaluation  |  2016 The Year of Stark Economic Reality LBS Executive Breakfast Session  |  the analyst | stock picks  |  
  • Our Stockbroking Function Our Stockbroking Function As a regulated professional broker we buys and sells shares and other securities through/on the floor of The Nigerian Stock Exchange, on behalf of investors. This Function involves the Investment of Client's Funds in the medium to long-term shares and stocks of high yield Public Quoted Companies.
  • Our Portfolio & Asset Management Function Our Portfolio & Asset Management Function We are a professional management of various securities (shares, bonds and other securities) and assets (e.g., real estate) meeting specified investment goals for the benefit of the investors.
  • Administration of Estate Administration of Estate Administration of an estate on death arises if the deceased is legally intestate. Our Administration of Estate Function involves the transferring the investments (Stocks, Shares, etc.) of the deceased person to the living person(s), following the guides and regulations as provided by the Securities and Exchange Commission.
  • Fund Sourcing & Financial Intermediation Fund Sourcing & Financial Intermediation We provide the service of a financial intermediary by a way of channelling funds from lenders to borrowers by intermediating between them. As Broker to Public Issues and the Financial Planning/Business Combinations, Mergers Acquisition and Restructuring.
  • Our Re-Investment Plan Our Re-Investment Plan This aspect of Clients Service is a Plan that is available for re-investments of Earned Dividends in further High Yield Securities. Alongside, FICML undertakes the re-validation of stale Dividend Warrants for ease of Clients transactions for a fee.
  • The MB Plan The MB Plan This is a Financial Plan which participants could start with as low as N50, 000.00 and would be encouraged to increase their stakes for Investments of the funds.
  • Financial Advisory Financial Advisory We help our client maintain the desired balance of investment income, capital gains, and acceptable level of risk by using proper asset allocation. The use of stock, bonds, mutual funds, real estate investment trusts (REITs), options, futures, notes, and insurance products, to meet the needs of our clients.

     
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Stock Market Insight as at 21st Jan 21
 
Top 5 Gainers View Gainers   
 SECURITY LAST CLOSE CURRENT CHANGE % CHANGE 

 WAPCO

26.50

27.95

1.45

5.19 % 

 NNFM

8.80

9.68

0.88

9.09 % 

 ARDOVA

19.75

20.45

0.70

3.42 % 

 NCR

2.59

2.84

0.25

8.80 % 

 CHAMPION

1.62

1.78

0.16

8.99 % 

 
Top 5 LosersView Losers   
 SECURITY LAST CLOSE CURRENT CHANGE % CHANGE 

 MRS

13.75

12.40

-1.35

10.89 % 

 CADBURY

10.80

9.75

-1.05

10.77 % 

 FLOURMILL

32.50

31.60

-0.90

2.85 % 

 DANGCEM

 234.50

234.00

-0.50

0.21 % 

 GUINNESS

18.95

18.50

-0.45

2.43 % 

 
Top 5 Trades   [By Volume of Trade]
  SECURITY VOLUME VALUE (N)  

  TRANSCORP

428,291,699

559,209,295.97  

  GUARANTY

62,054,558

2,047,844,607.85  

  SOVRENINS

61,430,185

20,902,808.83  

  MBENEFIT

58,543,247

559,209,295.97  

  UNIVINSURE

38,068,445

9,812,364.22  

Financial Indicator
  TRADES:    7,405

TRADE VOLUME:    1,121,364,348

  TRADE VALUE:

6,397,646,296.34

  ALL-SHARE INDEX:

41,099.15

  EQUITY MARKET CAP:

21,499,421,868,195.23

  BOND MARKET CAP:

17,397,108,944,978.40

  ETF MARKET CAP:

24,267,819,239.76

 
NEWS & EVENTSREAD ALL
*|MC:SUBJECT|*
What To Expect From The Markets This Week- 241119 - In line with our expectation, economic growth strengthened in the third quarter of 2019, with the recently released GDP reading showing that economic activities expanded by 2.28% y/y (vs. an upwardly revised 2.12% y/y in Q2-19). Source Proshare Read More 

FIDELITYBK 9M 2019: Write-Back Supports Earnings Growth - Fidelity Bank Plc. continued its decent run in 2019, recording double-digit growth in gross earnings (+15.87%), driven by growths across its income streams; Interest income (+12.22%) and non-interest income (+13.06%). Source Meristem 
Read More 

November 2019 FGN Bond Auction Oversubscribed - The FGN Bond Auction by the Debt Management Office (DMO) which took place on Wednesday, November 20, 2019 was highly oversubscribed. Source DMO 
Read More 

NSEASI Inches Up By 0.52% WoW To Close The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.44% to close at 26,991.42 points as against +0.36% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.12%. Source Proshare 
Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 221119 - The equities market recorded mixed performance - the listed equities market recorded +0.52% gain WoW while the NASD OTC recorded by -1.03% loss WoW. Source Proshare 
Read More 

Dangote Flour Mills Plc Delisted From The Daily Official List of NSE - We refer to the Market Bulletin dated Monday, 28 October 2019, with Reference Number: NSE/RD/LRD/MB59/19/10/28, notifying of full suspension of trading in the shares of Dangote Flour Mills Plc (DFM or the Company). Source NSE 
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NASD OTC Market CAP Decreased By -1.03% WoW To Close At N507.85bn - As at close of trade week on 22 November 2019, market Capitalisation increased to N507.85 billion from last week's previous N513.12 billion, which shows a 1.03% decrease in Capitalisation. Source NASD 
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Investors Gain N17.72bn As NSEASI Inches Up Further By 0.14% - Equities market closed today on a positive note, as NSEASI appreciated by +0.14% to close at 26,776.15 points as against +0.18% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.81%.  Source Proshare Markets Read More 

UNIVINSURE Receives CAC Directive to Hold AGM - Universal Insurance Plc receives directive from Corporate Affairs Commission to hold its Annual General Meeting not later than 31st December, 2019. Source NSE 
Read More 

The Nigerian Stock Market Just Isn't Good Enough - It is no secret that Nigeria is heavily exposed to fluctuations in oil prices; the 2016 recession serves as a painful reminder of how dangerous this exposure can be. In order to reduce the economy's susceptibility to volatile oil prices, diversification must occur to boost other sectors. Source Stears Business 
Read More 

Alibaba Raises Up To $12.9 Billion In Landmark Hong Kong Listing - HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group (BABA.N) raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale. Source Reuters 
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CSCS Launches Regconnect to Improve Market Service Delivery - Central Securities Clearing System (CSCS) Plc is has introduced to the Nigerian capital market Regconnect, a web-based application powered by CSCS to transform and improve the user experience of Registrars, by providing an easy to use platform to exchange information. Source CSCS 
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Election Pledges Heighten UK Fiscal Risks - Spending plans from the two largest UK political parties suggest that the period of budget deficit reduction is over, Fitch Ratings says. We anticipated fiscal loosening when we affirmed the UK's 'AA' sovereign rating in October but, while the scale and timing remains uncertain, risks to our fiscal projections have risen substantially. Source Fitch Ratings Read More 

ARAACAM Set to hold its 2019 Annual Conference on November 26, 2019 - The Association of Reporting Accountants and Auditors in the Capital Market (ARAACAM) is set to hold its 2019 Annual Conference on November 26, 2019. The Conference is poised to focus on "Public Trust in Corporate Financial Reporting" and "Corporate Financial Reporting in a Digital Age". Source ARAACAM 
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Nestle Nigeria Q3 2019 Results Review: 2019-20E Sales Growth Ests. Below 10% - Nestle Nigeria's (Nestle) earnings of N10.6bn declined by around -9% y/y and missed our forecast by 20%. In Q3, sales for Nestle's Beverage segment grew by 8% y/y to N25.9bn and continues to grow in importance. Source FBNQuest Research 
Read More

Investors Gain N23.34bn As Market Sentiment Closes Positive; NSEASI Inches Up By 0.18% - Equities market closed today on a positive note, as NSEASI appreciated by +0.18% to close at 26,739.44 points as against -0.60% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.93%.  Source Proshare Markets Read More 

Pearl Awards 24th Year Edition Holds In Lagos on November 24, 2019 - The stage is now set for the glamorous occasion where corporate titans are celebrated - 2019 PEARL Awards Nite. The coveted Awards for the Nigerian Capital Market comes up on Sunday November 24, 2019 at the prestigious Eko Hotel & Suites Lagos, with this year's theme tagged "Celebrating Sustainable Leadership and Resilience". Source Pearl Awards Nigeria 
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NSE Wins Awards for Promoting CSR Reporting and Delivering Efficient In-House Legal Support - The Nigerian Stock Exchange ("NSE" or "The Exchange") is pleased to announce that it has received the "Best Corporate Social Responsibility Initiative (Promoting Sustainability & Reporting)" and the "Capital Market In-House Team of the Year" awards at 2019 Marketing World Awards and ESQ Nigerian Legal Awards respectively. Source NSE 
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The Value Of Inflows From The FPIs - Fx outflows of US$6.15bn through the CBN in August were the highest since September 2018. The commentary in its latest Monthly Report highlights a 32.5% increase in interbank utilization. Source FBNQuest Research Read More 

The Bulls Take Center Stage as Average NT-Bills Yield Dips to 10.9% WoW - Last week, the Nigerian Treasury Bills ("NT-Bills") secondary market activity reversed its bearish stance from the previous week as a result of the sustained demand by local investors. Source Afrinvest Research 
Read More 

Investors Lose N188.76bn As NSEASI Dips By -0.60% To Open The Week Negative  - Equities market closed today on a negative note, as NSEASI depreciated by -0.60% to close at 26,691.09 points as against +0.03% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.08%. Source Proshare Markets 
Read More 

DMO Appoints 13 Agent Banks For N150bn FGN Bonds - As Debt Management Office (DMO) set to auction N150 billion in FGN Bonds tomorrow, eight banks have been  appointed as agents to interface with its prospective investors. Source Sun 
Read More


What To Expect From The Markets This Week- 181119 - Beyond the inadvertent consumer price pressure, the impact of the prolonged land border closure by the Nigerian government is now negatively affecting the country's exports, especially to neighboring West African countries. Source Proshare Read More 

Retail SMIS Forex Intervention: CBN Injects $341.75m, CNY14.7m - The Central Bank of Nigeria (CBN), has intervened in the Retail Secondary Market Intervention Sales (SMIS), to the tune of $341.75 million in addition to CNY14.7 million in the spot and short-tenored forwards segment of the inter-bank foreign market. Source CBN 
Read More 

FMDQ Exchange Lists The Primero BRT Securitisation SPV Bond - FMDQ Securities Exchange PLC, the choice platform for the registration, listing, quotation, trading and recording of financial securities, is pleased to announce the admission for listing on its platform, the Primero BRT Securitisation SPV PLC N16,500,000,000 Series 1 Fixed Rate Bond (the Primero BRT Bond). Source FMDQ 
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Medview Certificate Withdrawal: Revenue To Be Impaired In 2019 - Recent media reports suggest that there are plans by the Nigerian Civil Aviation Authority (NCAA) to withdraw the Air Operating Certificate (AOC) of Mediview Airlines Plc over the prolonged shutdown of scheduled operations. Source Proshare 
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Investors Gain N261.50bn WoW As NSEASI Inches Up By 2.04% To Close The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.03% to close at 26,851.68 points as against +1.91% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.57%. Source Proshare Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 151119 - The equities market recorded positive performance - the listed equities market recorded +2.04% gain WoW while the NASD OTC recorded +1.77% gain WoW. Source Proshare 
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NASD OTC Market CAP Increased By 1.77% WoW To Close At N513.12bn - We are pleased to announce the registration of Morgan Capital Group and FCSL Asset Management Limited unto the NASD Enterprise Portal as Due Diligence Advisers (DDAs). Source NASD Plc 
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SEPLAT Announces Revision To Q3 2019 Interim Dividend Currency Exchange Rates - Seplat Petroleum Development Company Plc​, today announces a revision to its Q3 2019 interim dividend currency exchange rates previously announced on 12th November 2019 to correct an error made on the USD/GBP exchange rate. Source NSE Read More 

Invest in FGN Monthly Bond Auction - November 2019 - The Central Bank of Nigeria on the authority of The Debt Management Office on behalf of the Federal Government Of Nigeria Offers for Subscription by Auction and is authorized to receive applications for… Source DMO 
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Investors Lose N57.09bn as NSEASI Dips By -0.44% Amid Renewed Sell Pressure - Equities market closed today on a negative note, as NSEASI depreciated by -0.44% to close at 26,339.11 points as against +0.54% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.20%. Source Proshare Markets 
Read More 

Treasury Bills Rates Drop to Three-year Low - The Nigerian Treasury Bills (NTBs) rates have dropped to single-digit at the end of yesterday's primary market auction (PMA). Analysts said the last time NTB rates were at the current position was three years ago. Source Thisday 
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Zenith Bank 9 months 2019 Result; Modest Top Line Earnings, Comfortable But Slow Outlook - Zenith Bank Plc's market penetration has cooled over the last few quarters as top line earnings grew modestly. Gross earnings went up by +3.5% from N474.61bn in September 2018 to N491.27bn in September 2019. Source Proshare Read More 

Unilever Nigeria Q3 2019 Results Review: Outlook Dimmed By Change In Operating Model - Unilever Nigeria's (Unilever) Q3 2019 results marks its weakest performance for as far back as we can track. The company posted a record pre-tax loss of -N4.1bn for the quarter, driven by a -63% y/y decline in sales. Source FBNQuest Research 
Read More 

SEPLAT Announces Q3 2019 Interim Dividend Currency Exchange Rates - Seplat Petroleum Development Company Plc, a leading Nigerian independent oil and gas company, today confirms that the following currency exchange rates will be applicable in determination of the Q3 2019 interim dividend payment to any shareholders that qualify for and have elected to receive the Q3 2019 interim dividend payment in Naira or GBP. Source NSE 
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A Further Fall In Official Reserves - Gross official reserves saw another sharp decline in October, of US$1.39bn to US$40.46bn. Over three months the fall has amounted to US$4.44bn. The principal driver has consistently been the exit of foreign portfolio investors (FPIs). Source FBNQuest Research 
Read More 

NSEASI Inches Up By 0.54% To Open The Week Positive - Equities market closed today on a positive note, as NSEASI appreciated by +0.54% to close at 26,456.39 points as against +0.48% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -15.83%. Source Prohare 
Read More


What To Expect From The Markets This Week- 111119 - As part of the FGN's policy surrounding the closure of all land borders in Nigeria, it was announced that the FGN has suspended the supply of petroleum products to filling stations within 20km of all land borders. Source Proshare Read More  

Nigerian Banks: A Season of Mixed Performance; Reviewing The Growth Numbers - To provide Investors with clearer insight into how well banks did on a comparative basis in the 9 months to September 2019, a brief summary of comparative data was put together by Proshare and its associate analysts to put context to the three-quarter performances of selected local deposit money institutions. Source Proshare 
Read More 

Forte Oil Plc: Acceptance of Takeover Offer for 500,000 Forte Oil Shares - Following the recent announcement by Ignite Investments and Commodities Limited to offer up to 500,000 ordinary shares of Forte Oil Plc (FO) to minority shareholders, the acceptance period of the stated offer has been opened. Source United Capital Research 
Read More 

Investors Lose N17.24bn As Stock Market Maintains Negative Posture - Equities market closed today on a negative note, as NSEASI depreciated by -0.14% to close at 26,188.24 points as against -0.58% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.68%. Source Proshare Markets 
Read More 

NSE CEO's Speech At 2019 Osun State Facts Behind The Economy - On behalf of the National Council and Management of The Nigerian Stock Exchange, it gives me great pleasure to welcome His Excellency, the Governor of the State of Osun, Mr. Adegboyega Oyetola and the entire State delegation to the Nigerian Stock Exchange. Source NSE 
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FGN Reiterates Commitment to Deepening the Capital Market to Attract Foreign Investments - Vice-President, Professor Yemi Osinbajo, SAN, disclosed the decision of the federal government (FGN) to deepen the Nigerian Capital Market at the 2019 Nigerian Capital Market Conference organized by the FMDQ Securities Exchange. Source Proshare Read More 

Airtel Africa Plc: Highlights From Group Investor Meeting - The management of Airtel Africa Plc (AIRTELAFRI) hosted a group investor session in Lagos at the end of last week to discuss H1-20 results and the outlook for the business. Source Cordros Research 
Read More 

Sell Pressure Persists As NSEASI Dips Further By -0.58% - Equities market closed today on a negative note, as NSEASI depreciated by -0.58% to close at 26,223.66 points as against -0.10% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.57%.  Source Proshare Markets 
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Treasury Bills Market Turns Bearish as the NTB vs OMO TBills Stalemate Lingers - The Treasury bills market saw a continuous bearish run as profit-takers triggered sell-offs for short and mid-dated maturities in anticipation of higher rates at tomorrow's OMO auction. Source Zedcrest Capital 
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CBN Stops Treasury Bills' Sale To Individuals - The Central Bank of Nigeria has given a directive to banks and other financial institutions to stop the sale of treasury bills to individuals and small firms with effect from November 29. Source Punch 
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What To Expect From The Markets This Week - 041119 - Amidst the continued trade tension, US GDP grew at an annualised rate of 1.9% -- the slowest since Q4-18, which was slightly below the 2.0% y/y pace recorded in the second quarter and higher than the 1.6% y/y consensus estimate. Source Proshare Read More

DMO Issues Public Notice On Eligible Investors in Federal Government of Nigeria Securities - Following the Circular to All Banks referenced FMD/DIR/GEN/OGC/14/009 dated October 23, 2019 issued by the Central Bank of Nigeria (CBN), it has become necessary for the Debt Management Office (DMO) to issue this Notice on Eligible Investors for Securities issued by the Federal Government of Nigeria (FGN). Source DMO Read More 

Investors Lose N26.98bn WoW As NSEASI Dips By -0.21% To Close The Week Negative - Equities market closed today on a negative note, as NSEASI depreciated by -0.24% to close at 26,293.30 points as against +0.17% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.34%. Source Proshare Markets 
Read More 

Market Review and Round-Up of Corporate News Announced During The Week Ending 011119 - The equities market recorded mixed performance - the listed equities market recorded -0.21% loss WoW while the NASD OTC recorded +0.53% gain WoW. Source Proshare Markets 
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NASD OTC Market CAP Increased By 0.53% WoW To Close At N502.37bn - As at close of trade week on 01 November 2019, market Capitalisation increased to N502.37 billion from last week's previous N499.72 billion, which shows a 0.53% increase in Capitalisation. Source NASD 
Read More 

Corporate Earnings For The Week Ending 011119 - 88 in All - Fifty-two (52) out of the Eighty-eight (88) firms declared growth in revenue. CWG records 153% growth in earnings to emerge as the firm with highest growth in earnings while NIGERINS records 51% negative growth in earnings to emerge as the firm with the least growth rate. Source Proshare 
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Dangote Flour Announces Scheme of Arrangement and Board Changes with an All Foreign Directors List - In the days to come, there will be much more interest in the dynamics around a listed company acquisition, possibly delisted thereafter, and now controlled by non-Nigerian entities. Source Proshare 
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Royal Exchange Plc Notifies of Completion of Investment By InsuResilience Investment Fund - In furtherance of our notification on the Nigerian Stock Exchange on July 18, 2019, we are pleased to notify the Nigerian Stock Exchange, our Shareholders and the investing public of the completion/close out of the acquisition of 39.25% equity stake in Royal Exchange General Insurance Company Limited. Source NSE 
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Investors Gain N21.70bn As NSEASI Inches Up Further By 0.17% - Equities market closed today on a positive note, as NSEASI appreciated by +0.17% to close at 26,355.35 points as against +0.25% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.15%. Source Proshare Markets 
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UBN Declares N15.19bn PAT in Q3 2019 Results,(SP:N7.05K) - Union Bank of Nigeria Plc released its Unaudited third quarter results for the period ended September 30, 2019. Gross Earnings declined by -4.13% to N117.15bn from N122.19bn in the previous quarter. Source NSE 
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CBN's T-Bills Auction Oversubscribed By N433.06bn - The Central Bank of Nigeria has recorded a N433.06bn (327 per cent) oversubscription in its Treasury Bills auction, which took place on Wednesday. The CBN offered N132.56bn worth of treasury bills in a Dutch auction across the 91-day, 182-day and 364-day tenors. Source Punch Read More

Lafarge Africa Plc Q3 2019 - LSAH Sale... Good Riddance - Lafarge Africa Plc released 9M 19 result, showing the group's performance ex-South Africa business (LSAH). On the adjusted numbers, Lafarge reported EPS of N1.28 compared to a loss of N1.20 in 9M 18 (including Lafarge South Africa). Source ARM Research Read More 

UNILEVER Declares N541m PAT in Q3 2019 Results,(SP:N26.70k) - Unilever Nigeria Plc released its Unaudited third quarter results for the period ended September 30, 2019. Source NSE 
Read More 
NEM Declares N2.04bn PAT in Q3 2019 Result, (SP:N2.00k) - NEM Insurance Plc released its Unaudited third quarter results for the period ended September 30, 2019. Source NSE 
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Nestle Nigeria Plc - Disappointing Sales, Cost Pressure Dampens Earnings - Nestle released 9M 19 result yesterday, with reported EPS expanding 11.2%YoY to N46.48 driven largely by the absence of impairment charge, which created a high base for input cost same period in the prior year. Source ARM 
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Oando PLC Announces YTD September 2019 Results, Posts N13.1bn Profit-After-Tax - Oando Plc  (referred to as "Oando" or the "Group"), Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the nine months period ended September 30, 2019. Source NSE 
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Equities Market Closes Positive As NSEASI Inches Up By 0.25% - Equities market closed today on a positive note, as NSEASI appreciated by +0.25% to close at 26,310.77 points as against -0.53% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.29%. Source Proshare 
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TRANSCORP Declares N6.74bn PAT in Q3 2019 Results,(SP:N1.05k) - Transnational Corporation of Nigeria Plc released its Q3 unaudited 2019 results for the period ended September 30th, 2019. Source NSE 
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Forte Oil Plc 9M'19  - Disposal Gain Continues To Mask Weak Operating Performance - Forte Oil Plc (FO: TP N22.01 ) released its 9M'19 earnings result earlier today, announcing EPS of N4.03/share during the nine month period (FY'19E: N4.88/share). 9M'19 performance was bolstered by gains from disposal of assets and interest proceeds from longstanding PMS subsidy receivables. Source CardinalStone Read More 

Forte Oil Declares N5.26bn PAT in Q3 2019 Results; Revenue Grew by 30.3%,(SP:N15.90k) - Forte Oil Plc released its Q3 unaudited 2019 results for the period ended September 30th, 2019. Source NSE 
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CCNN And Obu Cement Company Exploring A Merger of Both Entities - The Boards of Cement Company of Northern Nigeria Plc ("CCNN") and Obu Cement Company Plc ("Obu Cement") are exploring a merger of both entities ("Proposed Merger") due to a joint aspiration to ensure that the enlarged company is well positioned to grow and expand in the Nigerian cement industry. Source NSE 
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MTNN Declares N148.32bn PAT in Q3 2019 Results;(SP:N127.00k) - MTN Nigeria Communications Plc released its Q3 unaudited 2019 results for the period ended September 30th, 2019. Source NSE 
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Access Bank 9Months 2019 Result; Strong Earnings, But OPEX Rises 47.7% - Access Bank Plc, had a strong 9-month earnings performance by September 2019, however, warm feelings about the bank's profit has been muted by analysts concerns over the +47.70% rise in the bank's other operating expenses. Source Proshare Read More 

DANGCEM Declares N154.35bn PAT in Q3 2019 Results; Higher Finance Costs Drag Earnings Lower - Dangote Cement Plc released its Q3 unaudited 2019 results for the period ended September 30th, 2019. Source NSE| Cardinal Stone 
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Sterling Bank Plc Q3 2019 Results: Increased OPEX Drags Pre-tax Profit - Sterling's Interest Income grew 2% y/y and 5% q/q. In line with the trend we observed across most banks, the growth in Interest Income was driven by the improvement in Interest earned on loans and advances (4% y/y to N73.3bn) following the marginal growth  in loan book (Net loans to Customers grew 2.3% YTD). Source CSL Research Read More 

Dangote Sugar PLC 9M 2019 Earnings : Sustained Cost Pressure Weighs On Profit - Dangote Sugar in its recently released 9M 2019 financials reported 0.6% y/y rise in Revenue to N117.4bn in 9M 2019 from N116.8bn in 9M 2018. However, on a q/q basis, Revenue dipped 12.2% q/q to N37.1bn in Q3 2019 from N42.2bn in Q2 2019. Source CSL Research 
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NSE Places The Shares of Dangote Flour Mills Plc on Full Suspension - The Nigerian Stock Exchange (NSE) has notified the market that trading on the shares of Dangote Flour Mills (DFM) Plc has been placed on full suspension effective Monday, 28 October 2019. Source Investment-One Research 
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NSEASI Erases Previous Day Gain; Dips By -0.53% Amid Positive Breadth - Equities market closed today on a negative note, as NSEASI depreciated by -0.53% to close at 26,244.39 points as against +0.14% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -16.50%. Source Proshare Markets 
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International Breweries Plc: Poor Performance Extends Into Q3 2019 - In its recently released financial reports for 9M 2019, International Breweries (IntBrew) reported a 16.7% y/y growth in Net Revenue to N97.3bn in 9M 2019 from N83.3bn in 9M 2018.  Source CSL Research 
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STERLNBANK Declares N7.58bn PAT in Q3 2019 Results,(SP:N2.00k) - Sterling Bank Plc released its Q3 unaudited 2019 results for the period ended September 30th, 2019. Gross Earnings declined by -1.3% to 113.04bn from 114.58bn in the previous quarter. Source NSE 
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NASS Summons 17 Oil Firms Over NDDC Debts - The Joint National Assembly Committee on Niger Delta Development Commission on Tuesday summoned 17 oil companies over their alleged N72bn and $273m indebtedness to the agency. Source Punch Read More 

CBN Approves N19bn For Nine Cotton Plants' Revival ...To Recycle Expired Banknotes With N500m - The Central Bank of Nigeria has approved a fresh loan of N19.18bn to nine cotton producing firms with a view to retooling their processing plants. The apex bank has also set aside the sum of N500m to recycle old naira notes being mopped up from the Deposit Money Banks across the country. Source 
Punch Read More 

Nigeria Earned N240bn from Solid Minerals in Five Years -  The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the total financial inflows to Nigeria from solid minerals extraction between 2013 and 2017 amounted to N240 billion. Source Thisday 
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In U.S.-China Talks, Beijing's Refusal To Spell Out Farm Buys Is Big Sticking Point - U.S. President Donald Trump's demand that Beijing commit to big purchases of American farm products has become a major sticking point in talks to end the Sino-U.S. trade war, according to several people briefed on the negotiations. Source Reuters 
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SEC, CBN To Support Nigerian Fintech And Broaden Financial Inclusion - The Securities and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN, have made key commitments to support the deepening of the Fintech ecosystem in the country, and broaden financial inclusion. Source Proshare Read More

Opening Session Nigeria Fintech Week; Welcome Address By Dr Segun Aina,OFR, 29 October 2019 - It is reassuring to note the growth and sustenance of the most significant and most impactful Nigeria fintech gathering which started in April 2017 as a one day 1st National Fintech Conference. Source Dr Segun Aina Read More

Rebuilding Trust In Insurance Relationships - A time was, nearly fifty (50) years ago, when the working class in Nigeria trusted (YES, TRUSTED) the insurance companies and their agents! Unbelievable? BELIEVE it. Source Ekerete Ola Gam-Ikon* MNIM, CPP Read More 

Sukuk Bonds Can Address The Infrastructure and Housing Deficits In Nigeria - Dr Aliyu Dahiru - Nigeria's huge infrastructure and housing deficits can be fixed by strategic non-interest financing instruments and frameworks like the Sukuk Bond. Source Proshare 
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NAICOM Approves Recapitalisation Plans Of 44 Insurance Companies, Rejects 6 - The National Insurance Commission (NAICOM) has approved the recapitalisation plans of 44 out of the 54 Insurance companies in Nigeria. Mr Agboola Pius, Director, Policy and Regulation, NAICOM, said this yesterday at an interactive session with shareholders to update them on the 2019 recapitalisation directive, in Lagos. Source Dailytrust Read More
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