5 Key Things Start-ups Must Have to Attract Investors

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

By Modupe Gbadeyanka At the Nigerian Stock Exchange (NSE) last week, the All-Share Index (ASI) and market capitalisation both depreciated by 1.00 percent and 0.90 percent to close at 25,016.30 points and N13.050 trillion respectively. All other indices finished lower with the exception of NSE AFR Div Yield and consumer goods indices which appreciated by 1.20 percent and 0.26 percent respectively while NSE ASeM closed flat. About N24 billion was spent by investors on 1.5 billion shares last week in 22,911 deals at the exchange. This was in contrast to the N14 billion used to transact 1.3 billion shares the

The distribution of free tree seedlings to residents of Ogun State has commenced. The initiative by the Governor Ibikunle Amosun-led administration is aimed at mitigating the effects of climate change. Commissioner for Forestry in Ogun State, Mr Kolawole Lawal, explained that the motive behind the programme was not just to plant trees, but to nurture the trees to maturity, adding that it was only when this was achieved that it would become beneficial to the people and the environment. “We have begun the distribution of free tree seedlings and we will ensure we monitor their planting after collection, to the

By Dipo Olowookere Acting Director-General of the Securities and Exchange Commission (SEC) in Nigeria, Ms Mary Uduk, has disclosed that plans are underway to come up with a framework for financial technology (fintech) for the nation’s capital market. The SEC chief made this disclosure on Friday while addressing newsmen on outcome of the two-day quarterly Capital Market Committee (CMC) meeting held in Lagos. Business Post reports that the meeting was well attended by stakeholders in the market, including Chairman of the House of Representatives Committee on Capital Market and Institutions, Mr Tajudeen Yusuf, amongst others. The event, according to Ms

By Dipo Olowookere Treasury bills worth N397.72 billion will mature this week via the secondary market and according to Cowry Asset, this will boost liquidity given anticipated primary market auctions for bonds worth N115 billion. Also, as a result of these expectations, the interbank rates at the money market will likely trend downwards during the week. Last week, NIBOR rose for most tenor buckets tracked amid sustained financial system liquidity strain: with the overnight funds, 3 months and 6 months rising to 7.00 percent from 4.81 percent, 14.27 percent from 13.98 percent and 14.85 percent from 14.34 percent respectively; however,

By Dipo Olowookere SES has announced Wilfried Urner, as the new Chief Executive Officer (CEO) of MX1, the SES wholly-owned global media services company, and it takes immediate effect. Leading SES Platform Services for many years, Urner has been instrumental in building a strong portfolio of service activities for SES Video and for HD+, the German HD platform. He was also one of the key drivers of the RR Media acquisition and the creation and integration of MX1 in 2016. He will keep his current roles in the management team of SES Video as Head of Media Platforms and Product

By Modupe Gbadeyanka Call-up letters for those mobilised for the 2016 Batch B of the National Youth Service Corps (NYSC) are already out. Business Post correspondent confirmed that the letters have already been posted on the NYSC website for print out. Prospective corps members have been advised to check the NYSC portal to print out their letters, where information concerning their area of deployment has been included. The process is explained below: All Prospective Corps Members are required to visit the portal for the printing of call up letters via any of the links below; http://www.nysc.org.ng or http://portal.nysc.gov.ng Once on

By Modupe Gbadeyanka The new owner of Keystone Bank would be announced very soon, Managing Director of Assets Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, has disclosed. Mr Kuru, in an exclusive interview with Daily Trust, said the propose would “certainly” be concluded before the end of 2016. “Certainly, before the end of the year the process will be concluded,” he assured, explaining that about 98 percent of the transactions had already been completed. Explaining further, the AMCON boss said selling a bank was not like selling a factory because there are many stakeholders involved. “So, it follows rigorous

By Dipo Olowookere Former Governor of Delta State, Dr Emmanuel Eweta Uduaghan, has explained why he wants to be at the upper chamber of the National Assembly next year. According to him, he wants to represent Delta South Senatorial District at the Senate in 2019 because of his desire to pursue quality legislation that will lead to the end of the crisis in the Niger Delta region. The medical doctor, who left indelible marks in the state after his eight-year rule as a governor, said in a media chat recently that he would soon officially declare his intention to contest