By Dipo Olowookere

A total of 2.618 billion shares worth N69.742 billion in 47,953 deals exchanged hands last week on the floor of the Nigerian Exchange (NGX) Limited versus the 1.387 billion shares valued at N52.023 billion transacted in the preceding week in 33,411 deals.

Business Post reports that last week, the market opened for four trading days as a result of the New Year public holiday observed last Wednesday.

In the previous week, the NGX operated for three days after the federal government declared Wednesday, December 25 and Thursday, December 26, 2024, as public holidays for Christmas and Boxing Day.

In the period under review, financial shares dominated the bourse with 1.751 billion units worth N17.079 billion in 20,595 deals, contributing 66.88 per cent and 24.49 per cent to the total trading volume and value, respectively.

Services stocks traded 205.807 million units valued at N1.829 billion in 3,654 deals as ICT equities recorded the sale of 189.938 million units worth N1.844 billion in 3,686 deals.

Royal Exchange, Chams, and Universal Insurance accounted for 612.033 million shares worth N773.439 million in 2,108 deals, contributing 23.38 per cent and 1.11 per cent to the total trading volume and value, respectively.

Prestige Assurance was the best-performing stock last week with a price appreciation of 46.00 per cent to trade at N1.46, Neimeth gained 45.26 per cent to settle at N2.76, Sovereign Trust Insurance expanded by 45.16 per cent to N1.35, Coronation Insurance rose by 44.92 per cent to N2.71, and Universal Insurance improved by 43.64 per cent to 79 Kobo.

The worst-performing stock in the week was PZ Cussons with a decline of 13.79 per cent to finish at N25.00, CWG lost 10.83 per cent to trade at N7.00, Union Dicon Salt fell by 10.00 per cent to N7.20, NGX Group shrank by 9.17 per cent to N27.25, and Cadbury Nigeria went down by 6.52 per cent to N21.50.

At the close of business, 82 equities appreciated versus 64 equities in the previous week, 18 shares depreciated compared with 20 shares of the preceding week, and 52 stocks closed flat, in contrast to 69 stocks a week earlier.

Last week, the All-Share Index (ASI) and the market capitalisation appreciated by 1.42 per cent and 2.02 per cent to 103,586.33 points and N63.166 trillion, respectively.

Similarly, all other indices finished higher apart from the energy and sovereign bond indices, which depreciated by 0.45 per cent and 3.28 per cent, respectively while the ASeM and commodity indices closed flat.

By Bon Peter

The Area 11 Command of the Nigeria Customs Service (NCS) in Onne, Rivers State surpassed its 2024 annual revenue target by N16 billion.

This information was revealed to newsmen by the Customs Area Controller of the Command, Mr Mohammed Babandede, at a news conference last week.

He also disclosed that the command recently intercepted 12 containers of illicit drugs worth over N20.30 billion concealed in various items.

According to him, the content of the seized container included 1,721,100 bottles of 100ml cough syrup codeine, 510,000 tablets of 50mg Really Extra Diclofenac, 7,100,000 tablets of 225mg Royal apple Tramadol and Tramaking, 3,461 pieces of sanitary ware fittings used for concealment, 840 pieces of Chilly cutter used for concealment, and 153 cartons of TVS rubber.

“Our vigilant officers and men have successfully intercepted and seized an additional 12 containers (40 feet) of illicit medicine.

“This is a testament to our unwavering commitment to safeguarding public health, ensuring security of our nation and compliance with Nigeria’s import regulations. This also justifies our commitment to trade facilitation, transparency, effective and efficient service,” he said.

He said last year, the command received the support of different stakeholders, thanking them for working with the agency to achieve success.

“We appreciate the continued support and collaboration of all stakeholders, including the media, in amplifying our message and efforts to combat smuggling,” he said.

Mr Babandede stated that, “It is worth noting that the morale and dedication of our officers have been significantly bolstered by the Comptroller-General of Customs’ award, recognizing Area 2 Command as the Best Command in Anti-Smuggling Operations.

“This honour has further strengthened our resolve, and I assure you that we will not relent in performing our duties to protect the lives and well-being of Nigerians.”

The customs chief said earlier last year, the command was given a revenue target of N618 billion but as of December 31, 2024, it generated N634 billion, higher than the N321 billion recorded in 2023, promising to do more in 2025.

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited appreciated by 0.39 per cent on Friday as the demand for local equities continued to increase.

During the final trading session of the week, the insurance maintained its upward trend with a growth of 7.81 per cent as the banking index appreciated by 1.08 per cent, the consumer goods sector rose by 0.52 per cent, and the industrial goods counter expanded by 0.33 per cent, while the energy space went down by 0.49 per cent.

At the close of business, the All-Share Index (ASI) jumped by 406.19 points to 103,586.33 points from 103,180.14 points, and the market capitalisation increased by N248 billion to N63.166 trillion from N62.918 trillion.

The bourse recorded 67 appreciating shares and 11 depreciating shares, implying a positive market breadth index and strong investor sentiment.

Chams, Omatek, NCR Nigeria, Learn Africa, and Regency Alliance topped the gainers’ table after they gained 10.00 per cent each to finish at N2.31, 88 Kobo, N6.05, N4.95, and 88 Kobo, respectively.

On the flip side, TotalEnergies lost 9.74 per cent to trade at N630.00, CWG depreciated by 6.04 per cent to close at N7.00, Thomas Wyatt went down by 5.26 per cent to N1.80, ABC Transport crumbled by 4.07 per cent to N1.18, and UAC Nigeria shed 3.19 per cent to N31.90.

Yesterday, investors traded 709.3 million stocks valued at N8.2 billion in 13,593 deals compared with the 829.8 million stocks worth N5.7 billion transacted in 11,752 deals on Thursday, representing a slowdown in the trading volume by 14.52 per cent and a rise in the trading value and number of deals by 43.86 per cent and 15.67 per cent, respectively.

At the close of business, Chams topped the activity log with 58.1 million equities sold for N133.8 million, Veritas Kapital traded 55.1 million shares valued at N89.2 million, Abbey Mortgage Bank exchanged 50.1 million stocks for N165.5 million, AIICO Insurance transacted 39.7 million equities worth N68.3 million, and NPF Microfinance Bank sold 34.3 million stocks valued at N64.0 million.