Nigeria

Exchange news

Nigeria’s Securities and Exchange Commission calls in market operators

From 9 November, Nigeria’s Securities and Exchange Commission is to call stockbrokers and other market participants before its Administrative Proceedings Committee (APC). This is part of joint investigations into the financial sector.

Capital raising

IFC invests $100 million in Nigerian telecommunications

The International Finance Corporation (www.ifc.org), a member of the World Bank Group, is investing $100 million into bringing the benefits of better telecommunications to many Nigerians via Helios Towers Nigeria Ltd.

Exchange news

Cool investor relations for securities exchanges and listed companies

Three excellent sites offer fine material and services on promoting investor relations, and feature an enticing line-up of online published annual reports of listed companies from all over Africa as well as many other useful tips and advice.

Exchange news

Bond issues for PTA Bank and Nigeria’s UBA Bank

New bond issues are springing across Africa, including Kenya’s Kengen issue for more power generation which closed on 29 September, and bank issues in Nigeria and Uganda.

Exchange news

Regulators seek to restore confidence in battered Nigerian capital market

Regulators and players in the Nigerian capital markets hope recent actions against five banks will restore confidence in the market, but it looks as if the storm is not yet over.

Exchange news

JSE’s Africa Board: more travels and consultations

The JSE Ltd has three more countries in its first year programme, building links with leading issuers, regulators, brokers and African exchanges.

Capital raising

West Africa private equity fund raises US$200 million

West African private equity fund manager African Capital Alliance (ACA) announced the first closing after raising US$200 million for Capital Alliance Private Equity III (“CAPE …

Exchange news

New leaders mooted for Nigeria’s Securities and Exchange Commission

Nominations are on the table for the leadership of Nigeria’s Securities and Exchange Commission (SEC) to supervise the turbulent capital market. These are subject to ratification by Nigeria’s Senate. Nigeria’s President Umaru Yar’ Adua nominated Ms Arunma Oteh for appointment as Director-General and Mr Ahmed Remi Makele as Executive Commissioner (Legal & Compliance).